Companies

Manali Petro reports best ever annual performance

PTI Chennai | Updated on July 01, 2021

Consolidated PAT grew to ₹201.23 crore for the year ending March 31, 2021

Manali Petrochemicals Ltd, part of AM International, Singapore has reported consolidated profit after tax at ₹91.38 crore for the quarter ended March 31, 2021, the company said on Thursday.

The city-based petrochemical manufacturing company had reported consolidated profit after tax at ₹14.14 crore during the corresponding quarter previous year.

For the year ending March 31, 2021, consolidated PAT grew to ₹201.23 crore from ₹46.66 crore registered in the same period last fiscal.

Consolidated revenues for the quarter went up to ₹369.69 crore from ₹238.46 crore registered in the same quarter last fiscal.

For the year ending March 31, 2021 consolidated revenues breached the ₹1,000 crore mark to report ₹1,037.98 crore from ₹815.92 crore registered a year ago.

The company's Board has recommended a dividend of 30 per cent for the year 2020-21 subject to the approval of shareholders.

"Manali Petrochemicals Ltd has been able to do a quick turnaround despite various pandemic related challenges.

It has been the best ever annual performance of the company," company chairman Ashwin Muthiah said.

"I congratulate the team for the financial results and overcoming the odds.

Our operations will continue to follow the precautions to ensure the health and safety of our employees, vendors and customers," he added.

Manali Petrochemicals Ltd retails propylene glycol and polyols.

It has a wholly owned subsidiary AMCHEM Specialty Chemicals Ltd, Singapore and step down subsidiary AMCHEM Specialty Chemicals UK Ltd, and Notedome Ltd, United Kingdom, the statement added.

Published on July 01, 2021

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