MANALIPETCManali Petrochemicals Ltd.
Manali Petrochemicals Q2 FY27 Results: Consolidated Net Profit ₹63.50 Crore on Total Income of ₹414 Crore
- Earnings
- Petrochemicals
Reviewed byKeshav SehgalBlacklitt Research
Manali Petrochemicals (NSE: MANALIPETC) reported consolidated total income of ₹414 crore and net profit of ₹64 crore for the quarter ended 30 Sep 2026, it said in a filing on 06 Nov 2026. Standalone total income was ₹362 crore and standalone net profit ₹53 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹414.37 crore, up 58.8% YoY and 43.6% QoQ
- Net profit and EPS: ₹63.50 crore, up 249.9% YoY and down 1.3% QoQ; basic EPS ₹3.74
- Other income: ₹18.80 crore, 4.6% of total income
Standalone
The company on its own, without its subsidiaries
- Total income: ₹361.81 crore, up 91.6% YoY and 51.4% QoQ
- Net profit and EPS: ₹53.47 crore, against ₹0.18 crore a year earlier; basic EPS ₹3.11
- Other income: ₹12.99 crore, 3.6% of total income
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 414 | 261 | +58.8% | 288 | +43.6% | |
| Revenue from operations | 396 | 248 | +59.5% | 275 | +44.0% |
| Other income | 19 | 13 | +45.7% | 14 | +36.5% |
| 64 | 18 | +249.9% | 64 | -1.3% | |
| Profit before tax | 85 | 21 | +306.4% | 85 | +0.9% |
| Finance costs | 3 | 3 | -4.2% | 3 | +5.2% |
| Depreciation | 9 | 8 | +18.4% | 9 | +3.8% |
| Tax expense | 22 | 3 | +667.6% | 20 | +8.1% |
| Net profit margin | 15.32% | 6.96% | +8.37 pp | 22.31% | -6.98 pp |
| EPS, basic (₹) | 3.74 | 1.06 | +252.8% | 3.74 | 0.0% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew faster than total income year on year. Consolidated net profit rose 249.9% to ₹63.50 crore, while total income rose 58.8%, and profit before tax rose 306.4%. Tax expense rose to ₹21.80 crore from ₹2.84 crore a year earlier, so the tax rate was 25.6% of profit before tax this quarter.
Against the previous quarter, the picture differs. Total income rose 43.6% but net profit fell 1.3%, with tax expense up 8.1%.
The filing does not explain the reason for the rise in revenue and profit against the year-ago quarter. The year-ago quarter included a ₹98 lakh exceptional charge, and the previous year's exceptional items included a ₹52.16 crore gain on divestment of Notedome Limited and Notedome Europe GmbH, which ceased to be subsidiaries from 17 Nov 2025.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 362 | 189 | +91.6% | 239 | +51.4% | |
| Revenue from operations | 349 | 180 | +93.6% | 229 | +52.2% |
| Other income | 13 | 9 | +49.5% | 10 | +32.4% |
| 53 | 0 | n/a | 56 | -3.7% | |
| Profit before tax | 73 | 0 | n/a | 73 | +0.2% |
| Finance costs | 3 | 3 | +1.4% | 3 | +6.5% |
| Depreciation | 8 | 6 | +21.0% | 7 | +4.3% |
| Tax expense | 20 | 0 | n/a | 17 | +12.5% |
| Net profit margin | 14.78% | 0.10% | +14.68 pp | 23.23% | -8.45 pp |
| EPS, basic (₹) | 3.11 | 0.01 | n/a | 3.23 | -3.7% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit was ₹53.47 crore, against ₹0.18 crore in the year-ago quarter, when profit before tax was ₹19 lakh. Standalone revenue from operations rose 93.6% year on year, faster than other income, which rose 49.5%.
Standalone profit before tax of ₹72.98 crore was almost unchanged from the previous quarter's ₹72.86 crore, while net profit fell 3.7%. Tax expense rose 12.5% to ₹19.51 crore. Standalone other income of ₹12.99 crore was 17.8% of profit before tax.
The auditors' review carries an emphasis of matter on the leasehold land for Unit-II, whose lease expired on 30 Jun 2017. The company says it is confident the renewal for 30 years will be granted, and the filing says any impact of non-renewal is unascertainable. The auditors also carry an emphasis on an insurance claim of ₹11.80 crore, net of a ₹3.00 crore interim receipt, for plant damaged by Cyclone Michaung floods, with its impact unascertainable.
Inference
The filing records dividend payments of ₹8.60 crore in the period, according to the cash flow statement, but it does not state a dividend for the period.
The filing does not say when the leasehold renewal will be decided, what the insurance claim will finally be approved at, or what the company plans for its cash balances. These points are not known from the filing.
Filed with BSE on . Reference: Original filing (PDF)
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