Company Overview

Manali Petrochemicals Limited (BSE: 500268, NSE: MANALIPETC) reported strong financial performance for FY 2025-26, marked by significant improvement in profitability driven by exceptional gains and operational recovery.

Financial Performance

Consolidated Results

  • Revenue: ₹1,069.85 crore (FY26) vs ₹921.63 crore (FY25)
  • EBIDTA: ₹129.50 crore (FY26) vs ₹82.80 crore (FY25)
  • PAT: ₹129.95 crore (FY26) vs ₹29.31 crore (FY25)
  • EPS: ₹1.70 (FY26)

Standalone Results

  • Revenue from Operations: ₹786.34 lakh (FY26) vs ₹647.51 lakh (FY25)
  • PAT: ₹347.6 lakh (FY26) vs loss of ₹87.4 lakh (FY25)
  • Total Assets: ₹1,59,594 lakh (FY26)

Exceptional Items Driving Performance

The company recorded significant exceptional gains including:

  • Gain on divestment of Notedome Limited: ₹521.6 lakh (net of transfer expenses)
  • Reversal of provisions: ₹185.3 lakh from settled legal disputes and customs duty cases
  • Insurance claim settlements: Net impact of various claims

Corporate Actions & AGM Details

Manali Petrochemicals will hold its 40th Annual General Meeting virtually on September 28, 2026, with key agenda items including:

  • Adoption of FY26 financial statements
  • Declaration of 10% dividend (₹0.50 per share) absorbing ₹8.60 crore
  • Re-appointment of Chairman Ashwin C Muthiah
  • Ratification of cost auditor remuneration
  • Approval of related party transactions with Tamilnadu Petroproducts Limited

Operational Highlights

  • Commissioned Propylene Glycol Expansion Project on October 3, 2025
  • Obtained amended Drug Licence for pharmaceutical grade Propylene Glycol
  • Progress on new manufacturing facility in Western India
  • Capital expenditure of ₹92.42 crore during the year
  • Expanded product portfolio including traded goods contributing ₹51.07 crore

Subsidiaries & Divestment

The company divested its UK subsidiary Notedome Limited on November 17, 2025, resulting in substantial gains. Current subsidiary structure includes:

  • AMCHEM Speciality Chemicals Private Limited, Singapore
  • Manali Speciality Private Limited, India
  • PennWhite Limited, UK
  • PennWhite India Private Limited

Regulatory & Compliance Matters

The financial statements include emphasis of matter paragraphs regarding:

  • Pending leasehold land renewal with Government of Tamil Nadu (expired June 30, 2017)
  • Unsettled insurance claims for cyclone damage to property, plant and equipment
  • Various disputed tax demands totaling ₹241.7 lakh

Credit Rating & Capital Structure

Care Ratings reaffirmed:

  • Long-term bank facilities: CARE A+; Stable
  • Short-term bank facilities: CARE A1+
  • Debt-Equity Ratio: 0.06 (Standalone)

Related Party Transactions

Significant transactions with Tamilnadu Petroproducts Limited include:

  • Purchase of goods: ₹208.1 lakh (FY26)
  • Rendering services: ₹105.1 lakh (FY26)
  • Sale of goods: ₹26.8 lakh (FY26)

The company's strong FY26 performance, driven by exceptional gains and operational improvements, positions it favorably for future growth, while maintaining compliance with regulatory requirements and pursuing strategic initiatives through its upcoming AGM.