Manali Petrochemicals to set up overseas subsidiary With this, the polyols manufacturer plans to expand its global footprint Rakesh Rao | Mumbai November 5, 2015 Last Updated at 12:09 IST Manali Petrochemicals to invest Rs 100 cr for polyols capacity expansionPTTGC, Toyota Tsusho, Sanyo Chem plan PO and polyols complex in ThailandCSIR-IIP develops nano-catalysts for manufacturing petrochemicalsEnterprise Products expands propylene pipeline system in USSadara inks supply pact with a Halliburton-TAQA JV for EO & PO Manali Petrochemicals Ltd (MPL), one of the leading producers of propylene oxide, propylene glycols andpolyols in India, is reportedly planning to expand its exports business by setting an overseas subsidiary. “The board of directors of the company at its meeting held on November 04, 2015, inter alia, has granted in principle approval for setting up an overseas subsidiary through which the company proposes to expand its global footprint,” said Manali Petrochemicals in a BSE filing. Manali Petrochemicals’ product development team has been exploring new market avenues with specific thrust on exports. In fact, the export sales increased by 91 percent in 2014-15 to Rs 33.67 crore from Rs 17.58 crore in 2013-14. On domestic front, Manali Petrochemicals plans to increase its polyols production capacity from the current 50000 tonnes per annum (tpa) to 1,50,000 tpa using an innovative process to produce additional propylene oxide. Manali Petrochemicals will invest around Rs 100 crore over the next 4-5 years to raise the polyols manufacturing capacity – a move that will consolidate its position in the local polyurethane market. Propylene oxide and polyether polyols are key components used in the production of polyurethanes. Polyurethane materials - which provide many advantages such as resilience, high tear resistance, low viscosity and low heat build-up - can be used for varied applications like building insulations, refrigeration, furniture, footwear, automotive, coatings and adhesives, sealants etc. The Indian PU market is rapidly growing which has registered double digit growth during the past five years and is expected to double every four years in the coming decade. Companies such as Manali Petrochemicals can tap this opportunity by developing new applications for polyurethane materials and exploring new markets. Source - Business Standard
Dear Members What is the future of Manali Petro stock. One month back I bought 2000 shares (in four lots - different prices), and now my gain is around 20%. It is advisable to sell this stock now or hold for more gains Your valuable advises are highly appreciated
Looks like decent company but Muthiah (SPIC) group has not created wealth for shareholders. Co is debt free and with good ROCE 29% and RONW of 18%. I suggest hold and check quarterly results for four quarter before deciding further action to buy or not.