CRISIL said that the ratings continue to reflect the company's established market presence, supported by the extensive experience of its promoters, sound operating efficiencies and healthy financial risk profile. These strengths are partially offset by TCPCL's large working-capital requirements, and susceptibility to volatility in raw material prices.
Tatva Chintan Pharma Chem manufactures structure directing agents, phase transfer catalysts, electrolyte salts for super capacitor batteries and pharma & agro intermediates and specialty chemicals. Its units in Ankleshwar and Dahej (both in Gujarat) together have 500 KL reactor capacity and 39 assembly lines. The company has set up two marketing arms Tatva Chintan (USA) Inc and Tatva Chintan Europe B.V. (in Netherlands) with warehouse facilities.
Tatva Chintan Pharma Chem is an integrated specialty chemical company, present across the value chain manufacturing phase transfer catalyst, structure directing agents, electrolyte salts and pharma & agrochemical intermediates and specialty chemicals.
The company's consolidated net profit fell 3.1% to Rs 9.50 crore on 29.4% jump in net sales to Rs 114.36 crore in Q1 FY24 over Q1 FY23.
The scrip was down 0.07% to currently trade at Rs 1626.65 on the BSE.
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