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Manali Petrochemicals Limited
(MANALIPETC)
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Rating:73Outperform
Price Target:
₹91.00
▲(45.23% Upside)
Action:Reiterated
Date:08/21/26
The score is supported primarily by an attractive valuation (low P/E) and a strong balance sheet with low leverage. This is tempered by materially compressed margins versus prior peak years and inconsistent cash-flow conversion, while technicals remain positive but show signs of being stretched near-term (high RSI).
Positive Factors
Revenue and profitability rebound
The return to revenue growth and stronger profitability indicates recovering demand for propylene oxide and polyols across downstream polyurethane applications. If maintained, improved earnings can support reinvestment and strengthen the company’s ability to navigate the petrochemical cycle.
Negative Factors
Severe gross-margin compression
The sharp decline in gross margin shows that earnings remain exposed to weaker pricing spreads and petrochemical-cycle volatility. Even with improved revenue and net income, structurally lower spreads can limit operating leverage, reduce reinvestment capacity, and make future profits less predictable.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profitability rebound
The return to revenue growth and stronger profitability indicates recovering demand for propylene oxide and polyols across downstream polyurethane applications. If maintained, improved earnings can support reinvestment and strengthen the company’s ability to navigate the petrochemical cycle.
Read all positive factors
Manali Petrochemicals Limited (MANALIPETC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹14.55B
Dividend Yield0.61%
Average Volume (3M)322.07K
Price to Earnings (P/E)7.8
Beta (1Y)1.51
Revenue Growth19.19%
EPS Growth487.80%
CountryIN
Employees383
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)10.47
Shares Outstanding171,999,240
10 Day Avg. Volume115,619
30 Day Avg. Volume322,072
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.53
Price to Sales (P/S)0.66
P/FCF Ratio12.37
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 intermedia...
How the Company Makes Money
Manali Petrochemicals makes money primarily by producing and selling petrochemical intermediates. Its core revenue stream comes from (1) sales of propylene oxide (a chemical intermediate) and (2) sales of polyols (derivatives used by customers to ...
Manali Petrochemicals Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
84
Very Positive
Cash Flow
53
Neutral
| 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 | 0.00 | 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 | 0.00 | 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
Neutral
62.66
Price Trends
74.53
Positive
67.93
Positive
61.43
Positive
Market Momentum
2.59
Positive
51.84
Neutral
40.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MANALIPETC, the sentiment is Neutral. The current price of 62.66 is below the 20-day moving average (MA) of 84.43, below the 50-day MA of 74.53, and above the 200-day MA of 61.43, indicating a neutral trend. The MACD of 2.59 indicates Positive momentum. The RSI at 51.84 is Neutral, neither overbought nor oversold. The STOCH value of 40.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:MANALIPETC.
Manali Petrochemicals Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹7.86B | 10.70 | ― | 1.53% | -7.71% | 12.35% | |
73 Outperform | ₹14.55B | 7.83 | ― | 0.61% | 19.19% | 487.80% | |
62 Neutral | ₹11.98B | 7.90 | ― | 1.20% | -2.43% | 81.18% | |
57 Neutral | ₹25.42B | 37.06 | ― | 0.13% | 27.57% | 135.05% | |
56 Neutral | ₹18.28B | 21.94 | ― | 0.86% | -0.88% | 34.57% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹8.99B | -356.83 | ― | 0.29% | 10.11% | -109.93% |
* General Sector Average
IN:MANALIPETC
Manali Petrochemicals Limited
80.39
16.60
26.02%
IN:BODALCHEM
Bodal Chemicals Limited
191.95
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210.40%
IN:ESTER
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84.69
-23.30
-21.57%
IN:IGPL
IG Petrochemicals Ltd.
584.80
169.30
40.75%
IN:KOTHARIPET
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128.97
-7.89
-5.77%
IN:TNPETRO
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126.00
23.22
22.59%
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 period...
Manali Petrochemicals Seeks Shareholder Nod on RPTs, Board Tenure and Pay via Postal Ballot
Jul 7, 2026
Manali Petrochemicals Limited has initiated a postal ballot process seeking shareholder approval for several key matters, including material related party transactions and material modifications with Wilson International Trading Private Limited, S...
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.