Chennai: Manali Petrochemicals NSE 0.81 % Limited (MPL) saw its revenue going up significantly in FY20-21 as it recorded Rs 935 crore revenue as compared to Rs 685 crore in the previous financial year, something that the company claims is its highest turnover and profitability in FY20-21.
The petrochemical manufacturing company that is part of AM International - Singapore recently announced its annual results for FY20-21 wherein it reported EBITDA for the year as Rs 303 crore and PAT as Rs 193 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. I congratulate the team for the financial results and overcoming the odds arising from the pandemic,” Ashwin Muthiah, Chairman – MPL and Founder Chairman, AM International, Singapore, said.
Further, the company said that during the last quarter of the year, the company saw gross revenue of Rs 337 crore, operating profits were Rs 130 crore and net profits at Rs 92 crore.
Ravi, MD 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 of MPL also recommended a dividend of 30% for the year 2020-21 (Previous year 15%), subject to approval.
Source:economictimes.indiatimes.com