Manali Petrochemicals Limited (MPL), India' s leading petrochemicals company, specializing in the manufacture of propylene glycol and polyols, has announced its annual audited results for the

FY 2019-20. The Board of MPL has recommended a dividend of 15% for the year 2019-20, maintaining the previous year's rate. 

 

In the last quarter of FY20, the company registered an income of INR 183.01 crore, operating profit of INR 10.54 crore and Net Profit of INR 11.55 crore as compared to an income of INR 165.78 crore, operating profit of INR 18.09 crore and net profit of INR 21.17 crore in the corresponding period of the previous year. The revenue from operations at INR 182.51 crore was 25% more than the preceding quarter at INR 145.71 crore.

 

In the year ended March 2020, the company earned a total income of INR 685.38 crore as compared to INR 708.91 crores during the corresponding year. During the year, the Company's operating profit was INR 52.08 crore and net profit INR 38.64 crore vis a vis INR 85.92 crore and INR 65.41 crore respectively, in the previous fiscal. 

 

The company has announced the re-appointment of Muthukrishnan Ravi as Managing Director of the company for a period of three years from 29th July 2020, when his present term ends. In his present role, Ravi oversees the strategic direction of the company responsible for driving the long-term growth and profitability.

 

Ashwin Muthiah, Chairman - MPL & Founder Chairman, AM International, Singapore said, "The outbreak of COVID-19 led to an unprecedented situation globally. Our team's resilience ensured that we continue to serve our customers even in such an extraordinary time alongside taking care of the health and safety of the employees. As we get back to normal operations, we hope to recover from this crisis at the earliest."