Manali Petrochemicals locked in the upper circuit on excellent Q2 performance

Manali Petrochemicals locked in the upper circuit on excellent Q2 performance

by 5paisa Research Team Last Updated: Dec 13, 2022 - 10:00 am 47.1k Views
Listen icon

For the reported quarter, consolidated PAT rose 457% YoY, sales are up 100% YoY.

Manali Petrochemicals reported a 457% year-on-year increase in its consolidated net profit to Rs 117 crore for the quarter ended September.

Consolidated total revenue from operations, rose 100% on YoY to Rs 440 crore for the reported quarter, which is the best quarterly performance in the company's history.

EBITDA rose 288% YoY to Rs 163 crore with a margin expansion of 2800 bps on a YoY basis standing at 37% for the quarter ended September. This increase is due to a decrease in the cost of materials used for manufacturing.

Commenting on the performance Muthukrishnan Ravi, MD of MPL and CEO, Petrochemicals Division of AM International Group said, “During the quarter demand for all the products improved post lifting of the restrictions across the country. The all-around increase was seen in product prices and margins, and the quarter recorded historically highest turnover. We expect to maintain a similar performance in the coming periods, subject to imports into India, which has remained subdued for over a year due to global market conditions”

Manali Petrochemicals Limited (MPL) is a petrochemical company developing innovative products, since 1986, that find application in a variety of industries such as appliances, automotive, bedding, food and fragrances, furniture, footwear, paints and coatings, and pharmaceuticals.

Major domestic manufacturer of Propylene Glycol and Polyol

The company operates in the Polyurethanes industry and specializes in the manufacture of propylene glycol, polyether polyol and related substances. It is the only domestic manufacturer of Propylene Glycol. Also, it is the first and largest Indian manufacturer of Propylene Oxide, the input material for the many derivative products.

Propylene Glycol (PG) is widely utilized in pharmaceuticals, food and flavour and fragrance industries and also for the manufacture of polyester resins, carbonless paper and automobile consumables like brake fluid and anti-freeze liquid. Some of the major applications of PG include medicines, canned food, body sprays, perfumes, cosmetics, soaps and detergents. The off-take of PG for industrial purposes is generally low due to the availability of alternate cheaper materials.

We see that chemical as a sector is playing out quite well in the past few months, and this company has utilized the industry tailwinds and posted stellar numbers.

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
52-Week High Stocks: Bharti Airtel, Mahindra & Mahindra, and More; Do You Own Any?

Bharti Airtel has been in the spotlight after announcing a definitive agreement with Axiata Group's Dialog to merge its operations in Sri Lanka.  This has led to Airtel’s stock to surge to a fresh 52-week high, reaching a price of ₹1280.0.

Dynacons Systems & Solutions Share Price Soars 83% in 15 Sessions, Surges 340% in a Year

Dynacons Systems & Solutions, an Indian-based IT company, experienced a substantial surge in its share value with shares rising 83.50% in 15 trading sessions and 340% in one year, driven by heightened investor sentiment follow

8 FPIs Settle Alleged Adani Stock Violations with SEBI

More than half a dozen foreign portfolio investors (FPIs) that owned substantial stakes in Adani Group firms are looking to settle securities violation matters with markets regulator SEBI, said people familiar with the matter.