Manali Petrochemicals Ltd

Manali Petrochemicals is engaged in the manufacture and sale of Propylene Oxide (PO), Propylene Glycol (PG) and Polyols (PY), which are used as industrial raw materials.(Source : 201903 Annual Report Page No: 43)

  • Market Cap: 328.52 Cr.
  • Current Price: 19.10
  • 52 weeks High / Low 25.50 / 7.95
  • Book Value: 26.57
  • Stock P/E: 7.37
  • Dividend Yield: 3.93 %
  • ROCE: 20.72 %
  • ROE: 13.32 %
  • Sales Growth (3Yrs): 6.64 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 5.00
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Pros:
Company has reduced debt.
Company is virtually debt free.
Stock is trading at 0.72 times its book value
Stock is providing a good dividend yield of 3.93%.
Company has been maintaining a healthy dividend payout of 18.61%
Cons:
The company has delivered a poor growth of 4.84% over past five years.

Peer comparison Sector: Petrochemicals // Industry: Petrochemicals

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020
145 148 162 190 177 184 178 164 181 168 146 183
140 134 132 146 151 157 158 145 161 152 133 168
Operating Profit 6 14 30 44 27 26 19 19 20 15 13 15
OPM % 4% 9% 19% 23% 15% 14% 11% 12% 11% 9% 9% 8%
0 0 1 1 1 3 1 19 2 5 1 -7
Interest 1 1 0 1 0 1 0 0 2 2 1 1
Depreciation 2 2 2 2 2 3 3 3 4 3 3 3
Profit before tax 3 11 29 41 25 26 17 35 17 15 9 3
Tax % 32% 16% 40% 35% 35% 35% 34% 39% 35% 35% 35% -237%
Net Profit 2 9 17 27 16 17 12 21 11 10 6 12
EPS in Rs 0.12 0.52 1.00 1.53 0.93 0.98 0.67 1.23 0.65 0.57 0.35 0.67
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
319 346 381 445 565 515 554 733 579 583 645 702 677
305 330 350 408 505 478 508 663 511 521 552 611 614
Operating Profit 13 17 31 38 61 37 47 70 68 62 93 91 63
OPM % 4% 5% 8% 8% 11% 7% 8% 10% 12% 11% 14% 13% 9%
5 3 5 3 6 7 6 7 9 11 2 24 2
Interest 1 1 2 2 2 2 2 2 3 2 3 2 6
Depreciation 10 8 4 5 6 6 7 6 6 9 8 10 14
Profit before tax 7 10 30 34 59 35 45 70 69 62 84 103 45
Tax % 20% 33% 30% 26% 26% 23% 35% 37% 30% 32% 35% 37%
Net Profit 6 7 21 25 44 27 29 44 48 42 55 65 39
EPS in Rs 0.26 0.37 1.16 1.39 2.44 1.50 1.60 2.45 2.70 2.46 3.19 3.79 2.24
Dividend Payout % 143% 61% 31% 34% 24% 31% 30% 20% 18% 20% 16% 20%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:7.32%
5 Years:4.84%
3 Years:6.64%
TTM:-3.63%
Compounded Profit Growth
10 Years:22.69%
5 Years:13.66%
3 Years:3.96%
TTM:-19.58%
Stock Price CAGR
10 Years:4.89%
5 Years:-2.61%
3 Years:-21.41%
1 Year:-16.96%
Return on Equity
10 Years:16.53%
5 Years:15.55%
3 Years:14.03%
Last Year:13.32%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
86 86 86 86 86 86 86 86 86 86 86 86 86
Reserves 26 28 41 57 88 106 125 159 197 256 300 356 371
Borrowings 17 10 6 6 1 2 2 1 2 23 17 14 9
48 45 64 76 95 85 98 162 215 176 116 145 141
Total Liabilities 177 169 198 225 270 279 312 408 500 541 519 601 607
33 66 76 92 99 103 104 105 105 142 171 183 200
CWIP 33 9 3 8 5 4 3 6 16 28 12 6 26
Investments 16 17 24 34 18 6 19 82 74 126 167 110 151
95 77 94 91 149 166 187 215 305 244 168 301 229
Total Assets 177 169 198 225 270 279 312 408 500 541 519 601 607

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
21 33 29 34 8 2 45 78 -6 92 69 19
-24 -16 -6 -25 -8 -4 -2 -6 -12 -137 -15 -18
-16 -16 -9 -7 -14 -13 -12 -14 -11 3 -19 -15
Net Cash Flow -19 1 15 2 -14 -16 31 58 -29 -42 35 -14

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 7% 9% 25% 26% 38% 20% 23% 31% 28% 20% 23% 21%
Debtor Days 38 28 33 24 25 28 35 40 57 43 43 43
Inventory Turnover 6.01 7.95 9.77 9.87 8.27 6.87 7.49 8.35 4.98 4.29 5.69 6.91

Shareholding pattern in percentages

Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020
44.82 44.82 44.82 44.82 44.82 44.82 44.82 44.82 44.86 44.86 44.86 44.86
1.48 1.47 1.47 1.45 1.67 1.81 1.75 1.66 1.66 1.50 0.00 0.00
0.32 0.33 0.25 0.32 0.30 0.40 0.30 0.37 0.47 0.34 0.37 0.30
53.39 53.38 53.47 53.41 53.21 52.97 53.13 53.16 53.01 53.30 54.77 54.83

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