By: ICN Bureau
Last updated : June 30, 2021 8:12 am
During FY 20-21, MPL standalone revenue reached Rs. 935 crore revenue compared to Rs. 685 crore during the previous year
Manali Petrochemicals Limited (MPL), a leading petrochemical manufacturing company markets propylene glycol and polyols and part of AM International - Singapore, has registered consolidated revenue of Rs. 1,038 crore for FY 20-21.
During FY 20-21, MPL standalone revenue reached Rs. 935 crore revenue compared to Rs. 685 crore during the previous year. The EBITDA for the year was Rs. 303 crore and PAT Rs. 193 crore. During the last quarter of the year, on a gross revenue of Rs. 337 crore the operating profits were Rs. 130 crore and net profits Rs. 92 crore.
The Board of MPL has recommended a dividend of 30% for FY 20-21 (previous year 15%), subject to approval of members.
Ashwin Muthiah, Chairman, MPL and Founder Chairman, AM International, Singapore said, "MPL has been able to do a quick turnaround despite various pandemic related challenges. It has been the best ever annual performance for the company. I congratulate the team for the financial results and overcoming the odds arising from the pandemic. The company is prepared to serve customers through continuous innovation and new product launches in the post-pandemic era. Our operations will continue to follow the precautions to ensure the health and safety of our employees, vendors and customers."
Ravi, MD, MPL and CEO, Petrochemicals Division of AM Group attributed the feat to the international and domestic market conditions and lower import of the products into India.