Manali Petrochemicals Ltd

Manali Petrochemicals Ltd

₹ 68.8 -2.06%
04 Mar 4:01 p.m.
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.

  • Market Cap 1,183 Cr.
  • Current Price 68.8
  • High / Low 87.2 / 56.7
  • Stock P/E 67.8
  • Book Value 61.0
  • Dividend Yield 1.09 %
  • ROCE 7.54 %
  • ROE 4.89 %
  • Face Value 5.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 1.13 times its book value
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.4%

Cons

  • The company has delivered a poor sales growth of 9.58% over past five years.
  • Earnings include an other income of Rs.28.1 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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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
349.37 365.84 329.69 436.04 490.87 413.85 324.44 285.65 237.70 333.52 301.32 270.00 204.75
222.33 239.91 216.51 277.13 338.71 310.82 273.74 268.09 233.52 327.44 293.69 255.45 199.59
Operating Profit 127.04 125.93 113.18 158.91 152.16 103.03 50.70 17.56 4.18 6.08 7.63 14.55 5.16
OPM % 36.36% 34.42% 34.33% 36.44% 31.00% 24.90% 15.63% 6.15% 1.76% 1.82% 2.53% 5.39% 2.52%
-2.35 2.45 0.23 4.93 3.29 4.23 5.70 6.40 6.50 5.25 6.57 8.52 7.72
Interest 1.15 1.13 1.92 1.88 1.95 3.57 1.79 1.77 3.26 2.40 2.15 2.20 2.26
Depreciation 9.90 3.78 4.49 4.43 5.80 5.35 5.41 5.50 5.75 6.51 6.15 5.95 6.09
Profit before tax 113.64 123.47 107.00 157.53 147.70 98.34 49.20 16.69 1.67 2.42 5.90 14.92 4.53
Tax % 24.32% 25.99% 25.45% 25.55% 25.46% 24.82% 26.26% 29.96% -88.62% 118.60% 30.34% 27.21% 35.10%
86.00 91.38 79.78 117.28 110.09 73.93 36.28 11.68 3.15 -0.45 4.11 10.86 2.94
EPS in Rs 5.00 5.31 4.64 6.82 6.40 4.30 2.11 0.68 0.18 -0.03 0.24 0.63 0.17
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
579 626 748 810 803 1,024 1,672 1,181 1,110
511 574 651 710 733 723 1,143 1,103 1,076
Operating Profit 68 52 97 100 70 302 529 79 33
OPM % 12% 8% 13% 12% 9% 29% 32% 7% 3%
9 18 3 27 5 -8 11 24 28
Interest 3 2 3 2 6 5 9 9 9
Depreciation 6 8 9 11 14 21 20 23 25
Profit before tax 69 60 88 113 54 268 511 70 28
Tax % 31% 37% 34% 33% 14% 25% 25% 28%
48 38 58 77 47 201 381 51 17
EPS in Rs 2.79 2.20 3.37 4.45 2.71 11.70 22.16 2.95 1.01
Dividend Payout % 18% 23% 15% 17% 28% 13% 11% 25%
Compounded Sales Growth
10 Years: %
5 Years: 10%
3 Years: 14%
TTM: -12%
Compounded Profit Growth
10 Years: %
5 Years: -3%
3 Years: -1%
TTM: -86%
Stock Price CAGR
10 Years: 23%
5 Years: 21%
3 Years: 3%
1 Year: 1%
Return on Equity
10 Years: %
5 Years: 23%
3 Years: 26%
Last Year: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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
Reserves 196 225 306 369 395 594 944 958 963
2 26 23 34 26 14 19 7 13
215 195 141 165 153 198 241 223 216
Total Liabilities 499 532 556 654 660 892 1,290 1,274 1,278
105 206 273 283 302 292 343 552 532
CWIP 16 28 12 6 26 28 14 23 31
Investments 69 16 57 0 41 0 0 0 1
310 282 214 364 291 572 933 700 714
Total Assets 499 532 556 654 660 892 1,290 1,274 1,278

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-6 87 58 13 87 219 373 92
-7 -133 -8 -20 -18 -4 -16 -261
-11 6 -17 -2 -29 -28 -26 -64
Net Cash Flow -24 -39 33 -9 41 186 331 -233

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 57 48 49 51 49 61 35 49
Inventory Days 96 101 53 81 58 47 35 47
Days Payable 124 109 47 64 36 54 38 28
Cash Conversion Cycle 29 39 55 68 71 54 32 68
Working Capital Days 44 31 32 65 50 38 27 46
ROCE % 20% 24% 22% 14% 49% 60% 8%

Shareholding Pattern

Numbers in percentages

8 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
44.86% 44.86% 44.86% 44.86% 44.86% 44.86% 44.87% 44.87% 44.87% 44.87% 44.87% 44.87%
0.91% 0.87% 1.80% 2.68% 2.90% 3.05% 2.24% 1.95% 2.17% 1.96% 0.81% 0.86%
0.03% 0.05% 0.05% 0.05% 0.05% 0.05% 0.03% 0.03% 0.03% 0.03% 0.07% 0.02%
54.20% 54.21% 53.28% 52.40% 52.18% 52.03% 52.86% 53.16% 52.92% 53.15% 54.24% 54.26%
No. of Shareholders 1,10,0201,16,5261,40,8241,57,1891,69,5431,85,6651,98,2072,00,6312,00,7601,98,9771,96,6731,91,875

* 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.

Click on the line-items to see the names of individual entities.

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