The capital market was last updated at 14:31 IST on April 7, 2020
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After the company stated that it had resumed propylene glycol production at its two plants on April 3, 2020, the price of Manali Petrochemicals rose by 20% to 12.34 rupees.
Propylene glycol is an important ingredient used in the production of hand sanitizers, moisturizers, shaving creams, deodorants and baby products.
Manali Petrochemicals' consolidated net profit fell by 43.17% to Rs 7.28 crore, and its net sales in the third quarter of December 2019 fell 15.22% to Rs 169.88 crore compared to the third quarter of December 2018.
Manali Petrochemicals (MPL) is engaged in the supply of polyols and propylene glycol. The company also specializes in the production of polyether polyols. The company is a manufacturer of propylene oxide, which is the raw material for derivative products. The company produces four grades of polyols: flexible block material (FSP), flexible cold curing, rigid and elastomer.
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