Manali Petrochemicals hit an upper circuit of 20% at Rs 12.34 after the company said it resumed production of Propylene Glycol on 3 April 2020 at both its plants.
Resumption of production of the other products will be decided in due course, the company said in a release on Friday, 3 April 2020.Propylene glycol is an important component used in the production of hand sanitizers, moisturizers, shaving creams, deodorants and baby products.
Manali Petrochemicals' consolidated net profit tanked 43.17% to Rs 7.28 crore on a 15.22% decline in net sales to Rs 169.88 crore in Q3 December 2019 over Q3 December 2018.
Manali Petrochemicals (MPL) is engaged in offering polyols and propylene glycol. The company also specializes in the manufacture of polyether polyol. The firm is the manufacturer of propylene oxide, the input material for the derivative products. The company manufactures polyols in four grades: flexible slabstock (FSP), flexible cold cure, rigids and elastomers.
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