Manali Petro

₹72.7 0.4 | 0.6%

WEBSITE BSE:500268 NSE : MANALI PETRO 10 May, 16:01

Market Cap ₹1251 Cr.

Stock P/E 71.7

P/B 1.2

Current Price ₹72.7

Book Value ₹ 61.2

Face Value 5

52W High ₹87.2

Dividend Yield 1.03%

52W Low ₹ 55.9

Edit Ratio

Manali Petro Research see more...

Overview Inc. Year: 1986Industry: Chemicals

Manali Petrochemicals Ltd (MPL) is in the business of manufacturing of petrochemicals. The Company is engaged in imparting polyols and propylene glycol. The Company additionally specializes inside the manufacture of polyether polyol. The Company is the manufacturer of propylene oxide, the input fabric for the derivative merchandise. The Company manufactures Polyols in 4 grades: Flexible Slabstock (FSP), Flexible Cold Cure, Rigids and Elastomers. The polyols have application inside the vehicle, refrigeration and temperature control, adhesive, sealant, coatings, fixtures and fabric industries. Propylene Glycol is utilized in pharma, food, flavour and fragrance industries and also for manufacture of polyester resins, carbonless paper and automobile consumables, which include brake fluid and anti-freeze liquid. The Company also produces propylene glycol mono methyl ether (PGMME), a solvent used inside the paints and coatings and electronics industries.

Manali Petro Share Price

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Peer Comparison

Manali Petro Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	436	489	414	324	286	238	334	301	270	205
Other Income	5	5	7	6	6	7	5	7	9	8
Total Income	441	494	421	330	292	244	339	308	279	212
Total Expenditure	277	339	311	274	268	234	327	294	255	200
Operating Profit	164	155	110	56	24	11	11	14	23	13
Interest	2	2	4	2	2	3	2	2	2	2
Depreciation	4	6	5	5	6	6	7	6	6	6
Exceptional Income / Expenses	0	0	-3	0	0	0	0	0	0	0
Profit Before Tax	158	148	98	49	17	2	2	6	15	5
Provision for Tax	40	38	24	13	5	-1	3	2	4	2
Profit After Tax	117	110	74	36	12	3	-0	4	11	3
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	117	110	74	36	12	3	-0	4	11	3
Adjusted Earnings Per Share	6.8	6.4	4.3	2.1	0.7	0.2	-0	0.2	0.6	0.2

Manali Petro Profit & Loss

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	579	632	748	810	803	1024	1672	1181	1110
Other Income	14	13	3	12	13	13	18	24	29
Total Income	593	645	751	822	816	1038	1690	1205	1138
Total Expenditure	515	572	651	712	733	724	1143	1103	1076
Operating Profit	77	73	100	110	83	314	547	102	61
Interest	3	2	3	2	6	5	9	9	8
Depreciation	6	10	9	11	14	21	20	23	25
Exceptional Income / Expenses	0	0	0	17	-8	-21	-7	0	0
Profit Before Tax	69	61	88	113	54	268	511	70	28
Provision for Tax	21	22	30	37	8	67	129	19	11
Profit After Tax	48	40	58	77	47	201	381	51	18
Adjustments	0	0	0	0	0	0	0	0	0
Profit After Adjustments	48	40	58	77	47	201	381	51	18
Adjusted Earnings Per Share	2.8	2.3	3.4	4.5	2.7	11.7	22.2	2.9	1

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-29%	14%	10%	0%
Operating Profit CAGR	-81%	7%	0%	0%
PAT CAGR	-87%	3%	-3%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-0%	-4%	25%	24%
ROE Average	5%	28%	22%	20%
ROCE Average	8%	38%	30%	27%

Manali Petro Balance Sheet

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	282	330	392	455	481	680	1030	1044
Minority's Interest	0	0	0	0	0	0	0	0
Borrowings	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	5	16	25	30	53	43	75	82
Total Current Liabilities	234	210	139	169	126	169	185	147
Total Liabilities	522	556	556	654	660	892	1290	1274
Fixed Assets	105	234	273	283	302	292	343	552
Other Non-Current Assets	39	49	33	29	47	51	39	48
Total Current Assets	377	273	250	342	310	550	908	674
Total Assets	522	556	556	654	660	892	1290	1274

Manali Petro Cash Flow

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	94	70	30	63	54	95	282	612
Cash Flow from Operating Activities	-6	87	58	13	87	219	373	92
Cash Flow from Investing Activities	-7	-124	-22	-17	-21	-15	-13	-266
Cash Flow from Financing Activities	-11	6	-17	-2	-29	-28	-26	-64
Net Cash Inflow / Outflow	-24	-31	19	-6	38	176	334	-238
Closing Cash & Cash Equivalent	70	30	63	54	95	282	612	379

Manali Petro Ratios

#	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	2.79	2.3	3.37	4.45	2.71	11.7	22.16	2.95
CEPS(Rs)	3.13	2.86	3.88	5.1	3.55	12.92	23.32	4.29
DPS(Rs)	0.5	0.5	0.5	0.75	0.75	1.5	2.5	0.75
Book NAV/Share(Rs)	16.42	19.2	22.77	26.45	27.98	39.53	59.91	60.72
Core EBITDA Margin(%)	9.75	8.59	12.34	11.87	8.51	29.07	31.4	6.56
EBIT Margin(%)	10.93	9.09	11.58	13.94	7.35	26.34	30.88	6.61
Pre Tax Margin(%)	10.54	8.76	11.17	13.66	6.59	25.88	30.32	5.84
PAT Margin (%)	7.33	5.66	7.37	9.22	5.67	19.45	22.63	4.23
Cash Profit Margin (%)	8.22	7.04	8.5	10.55	7.43	21.48	23.82	6.17
ROA(%)	9.19	7.34	10.41	12.66	7.1	25.93	34.93	3.95
ROE(%)	16.98	12.91	16.04	18.09	9.97	34.66	44.56	4.88
ROCE(%)	25.12	19.82	23.61	25.64	12.15	45.38	59.64	7.54
Receivable days	50.2	46.45	43.86	47.29	49.37	49.44	35.78	48.4
Inventory Days	58.25	59.68	45.62	41.83	45.87	28.08	17.13	29.95
Payable days	100.15	93.98	69.47	54.31	48.34	45.41	35.31	34.89
PER(x)	9	17.37	9.95	5.69	3.72	5.07	4.89	20.41
Price/Book(x)	1.53	2.08	1.47	0.96	0.36	1.5	1.81	0.99
Dividend Yield(%)	1.99	1.25	1.49	2.96	7.43	2.53	2.31	1.25
EV/Net Sales(x)	0.73	1.08	0.79	0.5	0.17	0.73	0.76	0.56
EV/Core EBITDA(x)	5.47	9.36	5.87	3.71	1.68	2.38	2.32	6.41
Net Sales Growth(%)	0	9.16	18.31	8.35	-0.89	27.57	63.2	-29.35
EBIT Growth(%)	0	-11.16	43.28	27.2	-47.79	350.7	90.75	-84.77
PAT Growth(%)	0	-17.51	46.38	32.29	-39.08	331.3	89.38	-86.7
EPS Growth(%)	0	-17.51	46.38	32.28	-39.09	331.31	89.38	-86.7
Debt/Equity(x)	0.01	0.08	0.06	0.07	0.05	0.02	0.02	0.01
Current Ratio(x)	1.61	1.3	1.8	2.03	2.46	3.25	4.92	4.57
Quick Ratio(x)	1.16	0.71	1.28	1.33	1.75	2.83	4.44	3.84
Interest Cover(x)	28.35	27.47	27.97	49.82	9.66	57.92	55.84	8.59
Total Debt/Mcap(x)	0.01	0.04	0.04	0.08	0.15	0.01	0.01	0.01

Manali Petro Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	44.86	44.86	44.86	44.86	44.86	44.86	44.86	44.86	44.86	44.86
FII	2.68	2.9	3.05	2.24	1.95	2.17	1.96	0.81	0.86	0.79
DII	0.05	0.05	0.05	0.03	0.03	0.03	0.03	0.07	0.02	0.02
Public	52.4	52.18	52.03	52.86	53.16	52.93	53.14	54.25	54.26	54.33
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	7.72	7.72	7.72	7.72	7.72	7.72	7.72	7.72	7.72	7.72
FII	0.46	0.5	0.52	0.39	0.33	0.37	0.34	0.14	0.15	0.14
DII	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0	0
Public	9.01	8.98	8.95	9.09	9.14	9.1	9.14	9.33	9.33	9.34
Others	0	0	0	0	0	0	0	0	0	0
Total	17.2	17.2	17.2	17.2	17.2	17.2	17.2	17.2	17.2	17.2

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 28%
Debtor days have improved from 35.31 to 34.89days.
Company is almost debt free.

Cons

Promoter holding is low: 44.86%.
The company has delivered a poor profit growth of -2% over past five years.

* 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.