Manali Petrochemicals announces quarter and year ended 31st March 2020 results

Manali Petrochemicals Limited (MPL), India's leading petrochemicals company, specializing in the manufacture of propylene glycol and polyols, today announced its annual audited results for the FY 2019-20. The Board of MPL has recommended a dividend of 15% for the year 2019-20, maintaining the previous year's rate.

In the last quarter of FY20, the Company registered an income of INR 183.01 crore, operating profit of INR 10.54 crore and Net Profit of INR 11.55 crore as compared to an income of INR 165.78 crore, operating profit of INR 18.09 crore and net profit of INR 21.17 crore in the corresponding period of the previous year. The revenue from operations at INR 182.51 crore was 25% more than the preceding quarter at INR 145.71 crore.

In the year ended March 2020, the Company earned a total income of INR 685.38 crore as compared to INR 708.91 crores during the corresponding year. During the year, the Company's operating profit was INR 52.08 crore and net profit INR 38.64 crore Vis a Vis INR 85.92 crore and INR 65.41 crore respectively, in the previous fiscal.

Mr. Ashwin Muthiah, Chairman - MPL & Founder Chairman, AM International, Singapore "The outbreak of COVID-19 led to an unprecedented situation globally. Our team's resilience ensured that we continue to serve our customers even in such an extraordinary time alongside taking care of the health and safety of the employees. As we get back to normal operations, we hope to recover from this crisis at the earliest."

Shares of MANALI PETROCHEMICAL LTD. was last trading in BSE at Rs.18 as compared to the previous close of Rs. 18.74. The total number of shares traded during the day was 89120 in over 380 trades.

The stock hit an intraday high of Rs. 18.98 and intraday low of 17.21. The net turnover during the day was Rs. 1606872.

Source : Equity Bulls

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