Manali Petrochemicals Limited (MANALIPETC)

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Manali Petrochemicals Limited (MANALIPETC) · mywealthgrid

About

Manali Petrochemicals Limited produces basic petrochemicals and operates in a commodity-driven segment within the Materials sector. At a market cap of ₹1,191 Crore and PE ratio of 9.17, the company is a small-cap player exposed to petrochemical pricing cycles. The business has generated a 1-year return of 8.45%, though recent quarters show wide swings in profitability, reflecting typical sector cyclicality.

Face value: ₹5

Market cap

₹1,344 Cr

P/E

7.5×

P/B

1.0×

Dividend yield

0.6%

ROE

10.9%

ROCE

7.4%

Debt / equity

0.05

OPM

EPS (TTM)

₹10.5

Book value

₹74.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins have ranged from 0.92% (Sep 2025) to 31.9% (Jun 2026) in recent quarters—verify whether current 30%+ levels reflect temporary pricing strength or structural improvements, as sustainability is unclear.
Revenue volatility (₹180–292 Cr across recent quarters) creates earnings unpredictability; verify customer concentration and product-category exposure to assess downside in weaker cycles.
Minimal institutional holdings (FII 0.38%, DII 0.01%) combined with 54.75% public float may constrain liquidity during adverse periods.
Petrochemical feedstock and product prices are globally determined; verify hedging practices, working-capital requirements, and whether margin swings reflect limited pricing power.

Generated analysis · source review pending

Growth drivers

Jun 2026 quarters show 30%+ operating margins vs. the trailing 8.02% average—verify if this reflects demand recovery, feedstock cost decline, or mix shift, and whether it can persist.
D/E ratio of 0.05 provides substantial borrowing capacity for capex or acquisitions if management chooses growth investment over current dividend levels.
Recent six-quarter EPS range of ₹0.01–₹3.98 suggests earnings recovery; verify cycle position and forward order visibility to assess if momentum is structural or cyclical.
Consistent dividend history since 2021 indicates cash generation, though high payout may limit reinvestment for growth—verify capex plans and free-cash-flow retention policy.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹78.2-2.5%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)

Cons

−Low return on equity of 5.2% (3-yr avg)
−Profit declined 8.4% a year over the last 5 years
−Modest revenue growth of 0.1% a year over the last 5 years
−Low dividend payout of 4.8% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

67/100

Business quality: 37
Growth: 68
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Supreme Petrochem LimitedSPLPETROSPLPETRO	₹14,672 Cr	₹14,680 Cr	₹5,719 Cr	₹737 Cr	9.6%	₹485 Cr	6.1%	18.5%	13.9%	21
Swan Corp LimitedSWANCORPSWANCORP	₹8,552 Cr	₹10,656 Cr	₹4,172 Cr	₹-234 Cr	-4.7%	₹224 Cr	6.2%	4.1%	3.7%	185
Rain Industries LimitedRAINRAIN	₹7,013 Cr	₹16,837 Cr	₹18,464 Cr	₹2,788 Cr	12.6%	₹537 Cr	0.8%	8.6%	0.6%	134
Bhansali Engineering Polymers LimitedBEPLBEPL	₹3,080 Cr	₹3,080 Cr	₹1,440 Cr	₹246 Cr	17%	₹200 Cr	14.1%	23.3%	17.3%	86
Manali Petrochemicals LimitedMANALIPETCMANALIPETC	₹1,344 Cr	₹1,403 Cr	₹1,062 Cr	₹142 Cr	8%	₹180 Cr	12.7%	7.4%	10.9%	82
Dcw LimitedDCWDCW	₹1,317 Cr	₹1,627 Cr	₹2,210 Cr	₹204 Cr	10.3%	₹71 Cr	2.3%	9.7%	4.6%	-1
Tamilnadu Petroproducts LimitedTNPETROTNPETRO	₹1,109 Cr	₹1,558 Cr	₹1,783 Cr	₹204 Cr	8.9%	₹142 Cr	6.7%	11.7%	10.1%	116
Pasupati Acrylon LimitedPASUPTACPASUPTAC	₹620 Cr	₹728 Cr	₹1,032 Cr	₹144 Cr	11%	₹96 Cr	6.9%	20.7%	17.5%	52
Agarwal Industrial Corporation LimitedAGARINDAGARIND	₹579 Cr	₹915 Cr	₹1,492 Cr	₹111 Cr	7.1%	₹41 Cr	2.6%	10.1%	6.6%	24
Amtech Esters LtdAMTECHAMTECH	₹106 Cr	—	—	—	—	—	—	—	—	—
Indian Acrylics LtdINDIANACRYINDIANACRY	₹76 Cr	₹307 Cr	₹352 Cr	₹-1 Cr	-0.4%	₹-24 Cr	-6.9%	-3.5%	—	32
Polylink Polymers India LtdPOLYLINKPOLYLINK	₹48 Cr	₹53 Cr	₹91 Cr	₹4 Cr	3.3%	₹2 Cr	1.4%	5.6%	4%	60

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	803	1,020	1,672	1,181	1,032	897	1,022
COGS	562	551	913	839	715	579	685
Gross profit	241	469	759	342	318	318	337
	172	173	231	264	273	260	255
	69	296	529	79	45	58	82
OPM %	8.6%	29%	31.6%	6.7%	4.3%	6.5%	8%
Depreciation	14	21	20	23	25	27	34
Interest	6	5	9	9	10	10	14
	6	-2	11	24	24	21	116
Profit before tax	54	268	511	70	33	42	150
Tax	8	67	129	19	14	13	21
Tax %	13.9%	24.9%	25.4%	27.6%	42.4%	30.3%	13.6%
	47	201	381	51	19	29	130
PAT margin %	5.8%	19.7%	22.8%	4.3%	1.9%	3.3%	12.7%
EPS (₹)	2.7	11.7	22.2	3	1.1	1.7	7.6
EPS adjusted (₹)	2.7	11.7	22.2	2.9	1.1	1.7	7.6
	27.7%	12.8%	11.3%	25.4%	67%	29.4%	6.6%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	86	86	86	86	86	86	86	86	86	86
Reserves	224	244	369	395	594	944	958	976	1,008	1,195
Minority interest	—	0	—	—	0	—	—	—	—	—
	8	26	34	26	14	19	7	22	130	58
	207	200	165	153	198	241	223	224	178	256
Total equity & liabilities	524	556	654	660	892	1,290	1,274	1,308	1,403	1,596
	134	155	197	189	292	343	552	499	513	568
CWIP	16	28	6	26	28	14	23	17	61	39
Investments	69	16	41	41	0	0	1	29	98	6
	305	357	409	405	572	933	699	763	731	983
Total assets	524	556	654	660	892	1,290	1,274	1,308	1,403	1,596

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	30%	46%	45.4%	29%	30.8%	35.4%	33%
EBITDA margin %	8.6%	29%	31.6%	6.7%	4.3%	6.5%	8%
EBIT margin %	6.8%	27%	30.4%	4.7%	1.9%	3.5%	4.7%
PAT margin %	5.8%	19.7%	22.8%	4.3%	1.9%	3.3%	12.7%
Working capital
Receivable days	49	62	35	49	43	48	60
Inventory days	58	47	35	47	55	123	82
Payable days	1	54	38	28	31	62	60
NWC days	106	54	32	68	67	108	82
Leverage
Current ratio	2.46	3.25	4.92	4.58	4.31	3.31	4.51
Debt to EBITDA	0.37	0.05	0.04	0.08	0.5	2.23	0.71
Debt to equity	0.05	0.02	0.02	0.01	0.02	0.12	0.05
Interest coverage	10.8	62.3	56.6	8.6	5.1	5.3	7.1
Asset turnover	1.22	1.14	1.3	0.93	0.79	0.64	0.64
Return ratios
Return on assets %	7.1%	22.6%	29.5%	4%	1.5%	2.1%	8.1%
Return on capital employed %	12.7%	46.7%	57.6%	7.1%	4.3%	4.8%	7.4%
Return on equity %	9.7%	29.6%	37%	4.9%	1.8%	2.7%	10.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	44.86%	44.86%	44.86%	44.86%	44.86%	44.86%	44.86%	44.86%	44.86%	44.86%	44.86%	44.86%
	0.81%	0.86%	0.79%	1.32%	1.11%	1.06%	0.66%	0.45%	0.44%	0.29%	0.37%	0.38%
	0.07%	0.02%	0.02%	0.07%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	54.26%	54.26%	54.33%	53.75%	54.02%	54.07%	54.47%	54.68%	54.69%	54.84%	54.76%	54.75%
No. of shareholders	—	—	—	—	—	—	—	—	1,57,079	1,51,392	1,48,876	1,46,235

Promoter holding up 0 percentage points since Sep 2023.

42 deals · 20 Apr 2022 – 3 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
3 Sept 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	29,69,127	₹89.24	₹26.50 Cr
3 Sept 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	29,69,127	₹89.20	₹26.48 Cr
3 Sept 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	20,10,434	₹88.52	₹17.80 Cr
3 Sept 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	19,93,869	₹88.57	₹17.66 Cr
3 Sept 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	15,96,322	₹88.53	₹14.13 Cr
3 Sept 2026	QE SECURITIES LLP	Bulk	NSE	Buy	15,63,815	₹88.29	₹13.81 Cr
3 Sept 2026	QE SECURITIES LLP	Bulk	NSE	Sell	15,57,468	₹88.23	₹13.74 Cr
3 Sept 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	15,28,237	₹88.39	₹13.51 Cr
3 Sept 2026	ALPHAGREP SECURITIES PRIVATE LIMITED	Bulk	NSE	Sell	9,56,915	₹88.66	₹8.48 Cr
3 Sept 2026	ALPHAGREP SECURITIES PRIVATE LIMITED	Bulk	NSE	Buy	9,56,915	₹88.61	₹8.48 Cr

1–10 of 42

1 / 5

Mr. Ashwin C MuthiahNon-Executive - Non Independent Director-Chairperson
Mrs. Devaki Ashwin MuthiahNon-Executive - Non Independent Director
Mr. Hugo Patrice Michel ChardonNon-Executive - Non Independent Director
Mr. Govindarajan Dattatreyan SharmaNon-Executive - Independent Director
Mr. Chatapuram Swaminathan ShankarNon-Executive - Independent Director
Mr. Dr N Sundaradevan IAS RetdNon-Executive - Independent Director
Mr. Thanjavur Kanakaraj ArunNon-Executive - Independent Director
Mrs. R BhuvaneswariNon-Executive - Non Independent Director
Mrs. Latha RamanathanNon-Executive - Independent Director
Mr. Anand RaghavanNon-Executive - Independent Director
Mr. R Chandrasekar

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F&O

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Manali Petrochemicals Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

92 announcementsExport CSV

29 Sept 2026, 6:04 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	30%	46%	45.4%	29%	30.8%	35.4%	33%
EBITDA margin %	8.6%	29%	31.6%	6.7%	4.3%	6.5%	8%
EBIT margin %	6.8%	27%	30.4%	4.7%	1.9%	3.5%	4.7%
PAT margin %	5.8%	19.7%	22.8%	4.3%	1.9%	3.3%	12.7%
Working capital
Receivable days	49	62	35	49	43	48	60
Inventory days	58	47	35	47	55	123	82
Payable days	1	54	38	28	31	62	60
NWC days	106	54	32	68	67	108	82
Leverage
Current ratio	2.46	3.25	4.92	4.58	4.31	3.31	4.51
Debt to EBITDA	0.37	0.05	0.04	0.08	0.5	2.23	0.71
Debt to equity	0.05	0.02	0.02	0.01	0.02	0.12	0.05
Interest coverage	10.8	62.3	56.6	8.6	5.1	5.3	7.1
Asset turnover	1.22	1.14	1.3	0.93	0.79	0.64	0.64
Return ratios
Return on assets %	7.1%	22.6%	29.5%	4%	1.5%	2.1%	8.1%
Return on capital employed %	12.7%	46.7%	57.6%	7.1%	4.3%	4.8%	7.4%
Return on equity %	9.7%	29.6%	37%	4.9%	1.8%	2.7%	10.1%

Date	Category	Subject	Filing
29 Sept 2026, 6:04 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
28 Sept 2026, 6:43 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
11 Sept 2026, 5:13 pm	Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	PDF
11 Sept 2026, 5:10 pm	Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	PDF
11 Sept 2026, 5:05 pm	Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	PDF
9 Sept 2026, 3:03 pm	Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	PDF
9 Sept 2026, 2:56 pm	Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	PDF
4 Sept 2026, 7:36 pm	Company Update General	Response / Clarification On Price Movement	PDF

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	87	58	13	87	286	373	92	63	-19	116
	-124	-22	17	-21	-82	-13	-266	-82	-155	75
	6	-17	-2	-29	-28	-26	-64	-7	-0	-9
Net cash flow	-31	19	—	—	176	334	-238	-25	-174	182
Free cash flow	—	—	—	—	262	346	47	37	-120	48
CFO / Operating profit %	—	—	—	126.4%	96.7%	70.6%	117%	141.1%	-32.6%	141.8%

Manali Petrochemicals Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

20

1

Compounded sales growth

Compounded profit growth

Return on equity

Manali Petrochemicals Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Dividends20

Board meetings1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

20

1