Trending stocks: Manali Petrochemicals stock zooms 10%

NEW DELHI: Shares of Manali Petrochemicals traded 9.8 per cent up in Thursday's trade at 09:35 am. Around 93,704 shares changed hands on the counter. The stock opened at Rs 16.25 and touched an intraday high and low of Rs 16.25 and Rs 16.25, respectively, in the session so far.

The company recommenced production of Propylene Oxide, feedstock for Propylene Glycol which is a pharmaceutical input, on April 7 at Plant 1.

The stock quoted a 52-week high of Rs 36.8 and a 52-week low of Rs 8.4.


Financials
Manali Petrochemicals, incorporated in the year 1986, is a Small Cap company (having a market cap of Rs 254.56 crore) operating in Petrochemicals sector.

The company reported net profit after tax of Rs 7.28 crore for the quarter ended 31 December, 2019. For the same quarter, the company has reported Consolidated sales of Rs 169.88 crore, down 10.76 per cent from last quarter Sales of Rs 190.36 crore and down 15.21 per cent from last year same quarter Sales of Rs 200.37 crore.

Manali Petrochemicals key products/revenue segments include polyol which contributed Rs 699.73 crore to sales value (99.65 per cent of total sales), scrap which contributed Rs 1.26 crore to sales value (0.17 per cent of total sales), other operating revenue which contributed Rs 0.88 crore to sales value (0.12 per cent of total sales) and sale of services which contributed Rs 0.25 crore to sales value (0.03 per cent of total sales)for the year ending 31-mar-2019.

Promoter holding
Promoters held 44.86488 per cent stake in the company as of quarter ended 31st Dec 2019.

Valuation ratio
It quoted a price-to-earnings ratio of 4.5 and price to book value of 0.56.