Manali Petrochemicals Ltd

₹ 104 -1.66%
05 Aug - close price
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

Industrial Application:[1] Company operates in the Polyurethanes industry. Polyurethane known as PU is a mixture of compounds containing urethane, urea, Isocyanates, allophanates, etc. It is widely used in consumer and industrial applications such as thermal insulation in buildings, refrigerators, household furniture, shoes, packaging plastics, etc. It also finds application in rigid and flexible foam, fibre, film, composites, elastomers, coatings, adhesives and mainly caters to industries like Automotive, Appliances, Building & Construction, Energy, Defence, Paints and Coatings, Soft furniture, etc.

  • Market Cap 1,788 Cr.
  • Current Price 104
  • High / Low 150 / 80.0
  • Stock P/E 4.63
  • Book Value 59.9
  • Dividend Yield 1.44 %
  • ROCE 60.4 %
  • ROE 45.1 %
  • Face Value 5.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 58.6% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 34.4%
  • Company has been maintaining a healthy dividend payout of 17.3%
  • Debtor days have improved from 48.5 to 34.5 days.

Cons

* 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

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
198 206 190 170 237 88 217 349 366 330 436 491 414
177 184 175 155 220 82 179 222 240 217 277 339 311
Operating Profit 21 22 16 15 17 6 37 127 126 113 159 152 103
OPM % 10% 11% 8% 9% 7% 7% 17% 36% 34% 34% 36% 31% 25%
19 3 8 1 -6 3 -6 -2 2 0 5 3 4
Interest 0 2 2 1 1 1 1 1 1 2 2 2 4
Depreciation 3 4 4 4 4 4 4 10 4 4 4 6 5
Profit before tax 36 20 18 11 5 4 27 114 123 107 158 148 98
Tax % 36% 31% 36% 32% -158% 21% 22% 24% 26% 25% 26% 25% 25%
Net Profit 23 14 12 7 14 3 21 86 91 80 117 110 74
EPS in Rs 1.36 0.78 0.68 0.43 0.82 0.18 1.21 5.00 5.31 4.64 6.82 6.40 4.30

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
579 626 748 810 803 1,020 1,672
511 574 651 710 733 723 1,143
Operating Profit 68 52 97 100 70 297 529
OPM % 12% 8% 13% 12% 9% 29% 32%
9 18 3 27 5 -3 11
Interest 3 2 3 2 6 5 9
Depreciation 6 8 9 11 14 21 20
Profit before tax 69 60 88 113 54 268 511
Tax % 31% 37% 34% 33% 14% 25% 25%
Net Profit 48 38 58 77 47 201 381
EPS in Rs 2.79 2.20 3.37 4.45 2.71 11.70 22.16
Dividend Payout % 18% 23% 15% 17% 28% 13% 11%
Compounded Sales Growth
10 Years: %
5 Years: 22%
3 Years: 27%
TTM: 64%
Compounded Profit Growth
10 Years: %
5 Years: 59%
3 Years: 80%
TTM: 78%
Stock Price CAGR
10 Years: 26%
5 Years: 25%
3 Years: 78%
1 Year: 9%
Return on Equity
10 Years: %
5 Years: 29%
3 Years: 34%
Last Year: 45%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
86 86 86 86 86 86 86
Reserves 196 225 306 369 395 594 944
2 26 23 34 26 14 19
215 195 141 165 153 192 241
Total Liabilities 499 532 556 654 660 887 1,290
105 206 273 283 302 292 343
CWIP 16 28 12 6 26 28 14
Investments 69 16 57 0 41 0 0
310 282 214 364 291 566 933
Total Assets 499 532 556 654 660 887 1,290

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-6 87 58 13 87 218 373
-7 -133 -8 -20 -18 -3 -13
-11 6 -17 -2 -29 -28 -26
Net Cash Flow -24 -39 33 -9 41 186 334

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 57 48 49 51 49 62 35
Inventory Days 96 101 53 81 58 47 35
Days Payable 100 54 47 64 36 60 38
Cash Conversion Cycle 54 94 55 68 71 49 32
Working Capital Days 44 31 32 65 50 41 27
ROCE % 20% 24% 22% 14% 49% 60%

Shareholding Pattern

Numbers in percentages

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
44.86 44.86 44.86 44.86 44.86 44.86 44.86 44.86 44.86 44.86 44.86 44.86
1.50 0.00 0.00 0.00 0.00 0.64 0.91 0.87 1.80 2.68 2.90 3.05
0.34 0.37 0.30 0.25 0.12 0.04 0.03 0.05 0.05 0.05 0.05 0.05
53.30 54.77 54.83 54.89 55.02 54.46 54.20 54.21 53.28 52.40 52.18 52.03

Documents