17-Jun-2024Today's Market Indicators

Manali Petrochemical tumbles after poor Q4 results
(15:46, 26 May 2023)
Net sales fell 19.4% year-on-year to Rs 333.52 crore in Q4 March 2023.

Profit before tax (PBT) stood at Rs 2.42 crore in Q4 FY23, up 44.91% quarter-on-quarter and down 97.54% year-on-year.

Total expenses rose 4.4% YoY to Rs 327.44 crore in quarter ended 31 March 2023. Cost of materials consumed was at Rs 236.87 crore (up 10.7% YoY) and employee expense was Rs 18.93 crore (up 3.4%) during the quarter.

For the year, the company's net profit declined 86.70% to Rs 50.67 crore, while net sales fell 29.35% to Rs 1181.30 crore in the year ended March 2023 over the year ended March 2022.

Net cash flow from operating activities at Rs 91.86 crore as on 31 March 2023, steeply lower than Rs 373.06 crore as on 31 March 2022.

The company's board recommended an interim dividend of Rs 0.75 per share for FY23.

Manali Petrochemicals is a petrochemical company. Its products find application in a variety of industries such as appliances, automotive, bedding, food & fragrances, furniture, footwear, paints and coatings, and pharmaceuticals.

Powered by Capital Market - Live News