Manali Petrochemicals Limited (MANALIPETC) AI Stock Analysis

Manali Petrochemicals Limited

(NSE:MANALIPETC)

Select Model

Rating:68Neutral

Price Target:INR 75.00▲(9.62% Upside)

Action:downgraded

Date:10/06/26

The score is driven mainly by a strong balance sheet and a FY2026 operational rebound, tempered by materially lower margins versus prior peak years and inconsistent cash flow quality. Technicals add support due to a clear uptrend, and valuation is helped by a low P/E, though the dividend yield is minimal.

Positive Factors

FY2026 Revenue and Profit ReboundThe return to meaningful revenue growth and stronger profitability indicates renewed operating momentum after the weaker FY2024–FY2025 period. If sustained, improved earnings can strengthen internal funding capacity, support reinvestment, and reinforce the company’s position across polyurethane-related chemical markets.

Negative Factors

Material Gross Margin CompressionThe sharp reduction in gross margin suggests that pricing power or product spreads are materially weaker than during prior peak-cycle years. This leaves earnings more exposed to changes in chemical-market conditions and means revenue growth may not translate into similarly durable profit expansion.

Manali Petrochemicals Limited (MANALIPETC) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 14.70B
Dividend Yield: 0.73%
Average Volume (3M): 237.01K
Price to Earnings (P/E): 6.5
Beta (1Y): 1.51
Revenue Growth: 19.19%
EPS Growth: 487.80%
Country: India
Employees: 383
Sector: General
Sector Strength: 55
Industry: Chemicals - Specialty

Manali Petrochemicals Limited Business Overview & Revenue Model

Company Description

Established in 1986 and headquartered in Chennai, India, Manali Petrochemicals Limited (MPL) is a prominent manufacturer and global supplier of various petrochemical products. The company's core operations involve producing key chemical intermediates...

Manali Petrochemicals Limited Financial Statement Overview

Summary

FY2026 shows a meaningful rebound (revenue +12.5% YoY and net margin ~12.7%) and the balance sheet is a standout strength with low leverage (debt-to-equity ~0.11). Offsetting this, profitability remains well below FY2021–FY2022 peak-cycle levels and gross margin has compressed sharply (~45% to ~13.5%). Cash generation is uneven with weak cash conversion and a notably negative FY2025, increasing earnings-quality and cyclicality risk.

Income Statement

62Positive

Balance Sheet

84Very Positive

Cash Flow

53Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	10.62B	10.22B	8.97B	10.31B	11.75B	16.68B
Gross Profit	1.94B	1.38B	2.18B	1.89B	3.42B	7.47B
EBITDA	2.50B	1.98B	555.00M	682.70M	1.02B	5.38B
Net Income	1.80B	1.30B	293.10M	192.10M	506.80M	3.81B
Balance Sheet
Total Assets	0	15.96B	14.03B	13.08B	12.74B	12.90B
Cash, Cash Equivalents and Short-Term Investments	6.05B	6.05B	3.25B	4.43B	3.79B	6.12B
Total Debt	0	1.37B	1.29B	1.03B	832.30M	868.54M
Total Liabilities	-12.81B	3.14B	3.08B	2.47B	2.30B	2.60B
Stockholders Equity	12.81B	12.81B	10.94B	10.62B	10.44B	10.30B
Cash Flow
Free Cash Flow	-31.40M	547.00M	-1.20B	372.80M	473.30M	3.46B
Operating Cash Flow	364.00M	1.23B	-189.90M	629.90M	918.60M	3.73B
Investing Cash Flow	727.70M	598.00M	-1.55B	-816.40M	-2.66B	-131.19M
Financing Cash Flow	183.10M	-7.40M	-2.30M	-68.20M	-643.00M	-261.45M

Manali Petrochemicals Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price68.42

Price Trends

50DMA80.95Negative

100DMA72.76Negative

200DMA63.59Positive

Market Momentum

MACD-3.00Positive

RSI33.53Neutral

STOCH7.42Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MANALIPETC, the sentiment is Negative. The current price of 68.42 is below the 20-day moving average (MA) of 80.39, below the 50-day MA of 80.95, and above the 200-day MA of 63.59, indicating a neutral trend. The MACD of -3.00 indicates Positive momentum. The RSI at 33.53 is Neutral, neither overbought nor oversold. The STOCH value of 7.42 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MANALIPETC.

Manali Petrochemicals Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:MANALIPETC against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:KOTHARIPET	78Outperform	INR 6.42B	8.92	―	1.83%	-7.71%	12.35%
IN:MANALIPETC	68Neutral	INR 11.77B	6.53	―	0.73%	19.19%	487.80%
IN:TNPETRO	64Neutral	INR 10.31B	7.26	―	1.31%	-2.43%	81.18%
IN:BODALCHEM	57Neutral	INR 20.74B	30.19	―	―	27.57%	135.05%
IN:IGPL	56Neutral	INR 16.36B	20.03	―	0.94%	-0.88%	34.57%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:ESTER	39Underperform	INR 9.22B	-368.25	―	0.28%	10.11%	-109.93%

* General Sector Average

Performance Comparison

IN:MANALIPETC and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:MANALIPETC	Manali Petrochemicals Limited	68.42	-5.12	-6.97%
IN:BODALCHEM	Bodal Chemicals Limited	164.70	102.36	164.20%
IN:ESTER	Ester Industries Limited	88.40	-22.33	-20.16%
IN:IGPL	IG Petrochemicals Ltd.	531.25	122.32	29.91%
IN:KOTHARIPET	Kothari Petrochemicals Ltd.	109.06	-41.88	-27.75%
IN:TNPETRO	Tamilnadu Petro Products Ltd.	114.55	-8.83	-7.16%

Manali Petrochemicals Limited Corporate Events

Manali Petrochemicals Reports Demat Activity for Early August 2026

Sep 11, 2026

Manali Petrochemicals Limited has submitted to the NSE and BSE a regulatory statement detailing shares dematerialised and rematerialised between 1 August and 15 August 2026 under SEBI (Depositories & Participants) Regulations, 2018. Over the peri...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 06, 2026

Manali Petrochemicals Limited AI Stock Analysis