Manali Petrochemicals Ltd (MPL) reported a five-fold growth in its standalone profit after tax (PAT) at ₹193 crore for the year ended March 31, 2021 compared with ₹39 crore crore in the previous year, on the back of 36 per cent growth in revenue.
Its revenue stood at ₹935 crore for FY21 compared with ₹685 crore. Its EBITDA zoomed to ₹303 crore against ₹72 crore in 2019-20. Profit before tax was ₹257 crore compared to ₹45 crore
“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. 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,” said Ashwin Muthiah, Chairman – MPL and Founder Chairman, AM International, Singapore.
For the quarter ended March 31, the company’s PAT zoomed to ₹92 crore (₹12 crore). Revenue grew 84 per cent at ₹337 crore compared with ₹183 crore.
On a consolidated basis, the company’s revenue crossed ₹1,000 crore mark and stood at ₹1,038 crore for FY21 compared with ₹816 crore in FY20. PAT stood at ₹201 crore for FY21 as against ₹47 crore in FY20.
Ravi, Managing Director of 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.
The Board recommended a dividend of 30 per cent for 2020-21 (against the previous year’s 15 per cent).