Circular dichroism (CD) is a widely used technique for investigating optically chiral molecules, especially for biomolecules. It is thus of great importance that these parameters be estimated precisely so that the molecules with desired functionalities can be designed. In order to surpass the limits of classical measurements, we need to probe the system with quantum light. We develop quantum Fisher information matrix (QFIM) for precision estimates of the circular dichroism and the optical rotary dispersion for a variety of input quantum states of light. The Cramer-Rao bounds, for all four chirality parameters are obtained, from QFIM for (a) single photon input states with a specific linear polarization and for (b) NOON states having two photons with both either left polarized or right polarized. The QFIM bounds, using quantum light, are compared with bounds obtained for classical light beams i.e., beams in coherent states. Quite generally, both the single photon state and the NOON state exhibit superior precision in the estimation of absorption and phase shift in relation to a coherent source of comparable intensity, especially in the weak absorption regime. In particular, the NOON state naturally offers the best precision among the three. We compare QFIM bounds with the error sensitivity bounds, as the latter are relatively easier to measure whereas the QFIM bounds require full state tomography. We also outline an empirical scheme for estimating the measurement sensitivities by projective measurements with single-photon detectors.