Manali Petrochemicals Ltd

₹ 73.0 -2.01%

03 May 12:01 p.m.

manalipetro.com BSE: 500268 NSE : MANALIPETC

About

Incorporated in 1986, Manali Petrochemicals Limited manufactures and sells Propylene Oxide (PO), Propylene Glycol (PG) and Polyols (PY), which are used as industrial raw materials. Located in Chennai, the company is the only domestic manufacturer of Propylene Glycol. Also, it is the first and largest Indian manufacturer of Propylene Oxide which is the input material for the aforesaid derivative products.

Key Points

Leadership^[1]
Sole manufacturer of Propylene Glycol (PG) and Polyol in India.

Website BSE NSE

Market Cap ₹ 1,255 Cr.
Current Price ₹ 73.0
High / Low ₹ 87.2 / 55.9
Stock P/E
Book Value ₹ 56.9
Dividend Yield 1.03 %
ROCE 7.55 %
ROE 5.13 %
Face Value ₹ 5.00

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Pros

Company is almost debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 27.3%

Cons

Company has low interest coverage ratio.
Earnings include an other income of Rs.20.6 Cr.
Company's cost of borrowing seems high

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Petrochemicals Industry: Petrochemicals

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	325.84	333.36	279.63	403.66	399.49	360.89	300.91	260.67	205.30	266.39	235.99	215.91	155.25
	199.84	206.07	170.72	242.30	249.62	258.78	249.69	243.66	204.25	261.16	242.09	210.10	158.75
Operating Profit	126.00	127.29	108.91	161.36	149.87	102.11	51.22	17.01	1.05	5.23	-6.10	5.81	-3.50
OPM %	38.67%	38.18%	38.95%	39.97%	37.52%	28.29%	17.02%	6.53%	0.51%	1.96%	-2.58%	2.69%	-2.25%
	-4.73	1.90	-0.49	4.14	4.03	2.57	5.55	6.55	6.27	4.55	5.16	5.91	5.00
Interest	1.10	1.05	1.81	1.83	1.90	3.52	1.76	1.70	3.14	1.84	1.80	1.87	1.95
Depreciation	9.74	3.73	4.16	4.12	5.49	5.07	5.24	5.35	5.51	5.69	5.28	5.12	5.25
Profit before tax	110.43	124.41	102.45	159.55	146.51	96.09	49.77	16.51	-1.33	2.25	-8.02	4.73	-5.70
Tax %	24.12%	26.01%	25.72%	25.03%	25.58%	25.13%	25.36%	29.07%	147.37%	40.89%	22.32%	30.87%	25.09%
	83.78	92.06	76.10	119.62	109.04	71.94	37.14	11.71	0.63	1.33	-6.23	3.27	-4.27
EPS in Rs	4.87	5.35	4.42	6.95	6.34	4.18	2.16	0.68	0.04	0.08	-0.36	0.19	-0.25
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	565	515	554	733	579	583	645	702	677	922	1,444	1,033	874
	505	478	508	663	511	521	552	610	613	632	921	959	872
Operating Profit	61	37	47	70	68	62	93	93	64	290	522	75	1
OPM %	11%	7%	8%	10%	12%	11%	14%	13%	9%	31%	36%	7%	0%
	6	7	6	7	9	11	2	22	1	-8	10	23	21
Interest	2	2	2	2	3	2	3	2	6	4	9	8	7
Depreciation	6	6	7	6	6	9	8	10	14	20	19	22	21
Profit before tax	59	35	45	70	69	62	84	103	45	257	505	67	-7
Tax %	26%	23%	35%	37%	30%	32%	35%	36%	14%	25%	25%	24%
	44	27	29	44	48	42	55	65	39	193	377	51	-6
EPS in Rs	2.54	1.59	1.69	2.56	2.80	2.46	3.19	3.80	2.25	11.20	21.90	2.95	-0.34
Dividend Payout %	24%	31%	30%	20%	18%	20%	16%	20%	33%	13%	11%	25%

Compounded Sales Growth
10 Years:	7%
5 Years:	10%
3 Years:	15%
TTM:	-23%

Compounded Profit Growth
10 Years:	6%
5 Years:	-2%
3 Years:	5%
TTM:	-105%

Stock Price CAGR
10 Years:	24%
5 Years:	24%
3 Years:	-4%
1 Year:	1%

Return on Equity
10 Years:	21%
5 Years:	23%
3 Years:	27%
Last Year:	5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	86	86	86	86	86	86	86	86	86	86	86	86	86
Reserves	88	106	125	159	197	256	300	356	371	550	900	909	892
	1	2	2	1	2	23	17	14	9	13	16	7	13
	95	85	98	162	215	176	116	145	141	175	199	171	182
Total Liabilities	270	279	312	408	500	541	519	601	607	825	1,201	1,173	1,173
	99	103	104	105	105	142	171	183	200	181	236	247	240
CWIP	5	4	3	6	16	28	12	6	26	28	14	23	31
Investments	18	6	19	82	74	126	167	110	151	110	110	399	400
	149	166	187	215	305	244	168	301	229	504	842	504	503
Total Assets	270	279	312	408	500	541	519	601	607	825	1,201	1,173	1,173

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	8	2	45	78	-6	92	69	19	84	201	385	44
	-8	-4	-2	-6	-12	-137	-15	-17	-22	-16	-12	-311
	-14	-13	-12	-14	-11	3	-19	-15	-26	-12	-27	-61
Net Cash Flow	-14	-16	31	58	-29	-42	35	-14	36	172	346	-328

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	25	28	35	40	57	43	43	43	42	59	34	38
Inventory Days	61	58	60	56	96	102	49	81	58	45	34	38
Days Payable	47	43	50	74	124	95	39	64	35	50	28	21
Cash Conversion Cycle	39	43	44	22	29	51	53	60	65	54	41	55
Working Capital Days	37	55	44	9	44	25	26	57	40	37	22	37
ROCE %	38%	20%	23%	31%	28%	20%	23%	21%	13%	51%	63%	8%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	44.86%	44.86%	44.86%	44.86%	44.86%	44.87%	44.87%	44.87%	44.87%	44.87%	44.87%	44.87%
	0.87%	1.80%	2.68%	2.90%	3.05%	2.24%	1.95%	2.17%	1.96%	0.81%	0.86%	0.79%
	0.05%	0.05%	0.05%	0.05%	0.05%	0.03%	0.03%	0.03%	0.03%	0.07%	0.02%	0.02%
	54.21%	53.28%	52.40%	52.18%	52.03%	52.86%	53.16%	52.92%	53.15%	54.24%	54.26%	54.33%
No. of Shareholders	1,16,526	1,40,824	1,57,189	1,69,543	1,85,665	1,98,207	2,00,631	2,00,760	1,98,977	1,96,673	1,91,875	1,88,540

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	44.82%	44.82%	44.82%	44.86%	44.86%	44.86%	44.87%	44.87%
	1.21%	1.45%	1.66%	0.00%	0.91%	2.90%	2.17%	0.79%
	0.35%	0.32%	0.37%	0.30%	0.03%	0.05%	0.03%	0.02%
	53.63%	53.41%	53.16%	54.83%	54.20%	52.18%	52.92%	54.33%
No. of Shareholders	1,30,568	1,10,990	1,06,821	1,03,072	1,10,020	1,69,543	2,00,760	1,88,540

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Manali Petrochemicals Ltd

Manali Petrochemicals Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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