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Thirumalai Chemicals Ltd. Holds 51st AGM, Highlights Major Developments

Thirumalai Chemicals Announces New Projects and Financial Updates at AGM

Mumbai, India – Thirumalai Chemicals Limited conducted its 51st Annual General Meeting (AGM) on July 24, 2024, at the Mysore Association Auditorium in Mumbai. The meeting saw active participation from the company's shareholders and top management, highlighting significant developments and future plans.

 

Image Alt Text: Thirumalai Chemicals Annual General Meeting 2024

 

Key Highlights from the AGM

H2: New Address for Registered Office

• Previous Address: Plot No. 101-102, Road No. 29, Sion (East), Mumbai – 400022, India
• New Address: 202, Dev Arc, Opp. Iskon Temple, S.G. Highway, Ahmedabad, Gujarat, India, 380015

The change was necessitated by updated address proof and was approved by the Board of Directors.

H3: Directors and Senior Executives Present

The AGM was chaired by Mr. R. Parthasarathy, Chairman & Managing Director, along with other prominent directors and senior executives, including:

• Mrs. Ramya Bharathram, Managing Director/CFO
• Mr. R. Ravishankar, Director
• Mr. Raj Kataria, Director
• Mr. Dhruv Moondhra, Director
• Mr. Rajeev M. Pandia, Director

H3: Address by the Chairman

Mr. Parthasarathy highlighted the company's journey, current projects, and future plans in his speech. He emphasized the completion of five decades in the industry, with significant growth and diversification in product lines.

H2: Major Projects and Investments

H3: Expansion in Gujarat and the US

• Gujarat Project: Construction of a 110,000 tons per year Phthalic Anhydride and Fine Chemicals/Food Ingredients plant at Dahej is nearing completion. This site is strategically located to serve domestic and export markets efficiently.
• US Project: Development of a world-scale integrated facility to produce Maleic Anhydride and Food Ingredients/Fine Chemicals in the US, leveraging locally sourced raw materials and advanced technology.

H3: Financial Health and Future Outlook

Despite the challenges posed by the global economic scenario, including the Ukraine war and economic crises in China, Thirumalai Chemicals has maintained a strong financial position. The company has managed efficient cost control and working capital management, ensuring sustained operations and growth.

H2: Shareholder Participation and Voting

H3: Shareholder Engagement

The meeting saw the participation of 70 shareholders, with discussions on company performance, future plans, and management strategies. Shareholders had the opportunity to ask questions and provide suggestions, which were addressed by the management.

H3: Voting and Results

The facility for e-voting was provided to shareholders, and the appointed scrutinizer, Mr. Manoj Mimani, conducted the polls. The voting results will be declared within two days and made available on the company’s website.

H2: Conclusion of the Meeting

The AGM concluded with a vote of thanks to the Chair, emphasizing the collaborative efforts of directors, employees, customers, and shareholders in driving the company's success.

About Thirumalai Chemicals Ltd.

Thirumalai Chemicals Ltd. is a leading manufacturer of petrochemicals and fine chemicals in India, with a diverse portfolio of products catering to various industries. The company is committed to innovation, quality, and sustainability, driving growth and value for its stakeholders.

H2: Company Overview

• Established: Over five decades of excellence in the chemical industry.
• Product Range: Petrochemicals, fine chemicals, and food ingredients.
• Commitment: Focus on quality, efficiency, and sustainability.

For more information, visit Thirumalai Chemicals Ltd..

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