The company made this announcement after market hours on Wednesday, 21 December 2011.
Meanwhile, the BSE Sensex was down 98.40 points, or 0.63% to 15,586.81.
On BSE, 2,372 shares were traded in the counter as against average daily volume of 49,419 shares in the past one quarter.
The stock hit a high of Rs 8.69 and a low of Rs 8.40 so far during the day. The stock had hit a 52-week low of Rs 8.15 on 19 December 2011. The stock had hit a 52-week high of Rs 16.35 on 4 January 2011.
The small-cap stock had underperformed the market over the past one month till 21 December 2011, falling 9.36% compared with Sensex's 1.64% decline. The scrip had also underperformed the market over the past one quarter, declining 28.16% as against Sensex's 8.09% fall.
The company has an equity capital of Rs 86 crore. Face value per share is Rs 5.
Manali Petrochemicals said that propylene oxide is a major input for the derivative plants of the company. The upcoming storage and handling facility for bulk import of propylene oxide will help the company to achieve and sustain capacity utilization of the derivative plants at optimum levels, Manali Petrochemicals said in a statement.
Manali Petrochemicals' net profit jumped 50.6% to Rs 6.99 crore on 29.6% growth in net sales to Rs 130.57 crore in Q2 September 2011 over Q2 September 2010.
Manali Petrochemicals is engaged in the production and marketing of Propylene Oxide, Propylene Glycols and Polyols. These petrochemicals are used as industrial raw materials.
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