Manali Petrochemicals Limited

SPIC House, 88, Mount Road, Guindy, Chennai - 600 032

Telefax : 044 - 2235 1098 Website : www.manalipetro.com
GIN : L24294TN1986PLC013087

Ref: MPL / Sectl / BSE & NSE / E-2 & E-3 / 2024
04th November 2024

The Manager The Listing Department

Listing Department National Stock Exchange of India Limited
BSE Limited Exchange Plaza, 5 th Floor
Corporate Relationship Department Plot No. C/1, G Block
1st Floor, New Trading Ring Bandra-Kurla Complex
Rotunda Building, Bandra (East)
P J Tower Dalal Street, Fort Mumbai - 400 051
Mumbai - 400 001 Stock Code: MANALIPETC
Stock Code: 500268
Dear Sir,
Sub: Unaudited Financial Results for the quarter and six months ended
30th September 2024
Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, the Board of Directors of the Company have
approved the Un-Audited Financial Results (Standalone and Consolidated) of the
Company for the quarter and six months ended 30th September 2024 with copies of the
Limited Review Reports of the Auditors.
The meeting of Board of Directors commenced at 3.30 P.M. (IST) and concluded at
05.40 P.M (1ST).
We request you to kindly take the above on record.

Thanking you,

Yours faithfully,
For Manali Petrochemicals Limited

�����
R Sw rninathan
Company Secretary

Factories:
Plant - 1 : Ponneri High Road, Manali, Chennai - 600 068
DNV Plant - 2 : Sathangadu Village, Manali, Chennai - 600 068
Phone : 044 - 2594 1025 Fax : 044 - 2594 1199
ISO 14001:2015
1SO9001,2015 E-mail: companysecretary@manalipetro.com
 Brahmayya&co•
_____ ________ _ _ _ ____ _ _ _ Chartered Accountants

Independent Auditor's Review Report on Unaudited Quarterly and Year to Date

Standalone Financial Results of the Company pursuant to the Regulation 33 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To,
Board of Directors
The Manali Petrochemicals Limited

1. We have reviewed the accompanying statement of unaudited standalone financial

results of the Manali Petrochemicals Limited ("the Company") for the quarter ended
30th September 2024 and year to date results for the period from 01st April 2024 to 30th
September 2024 ("the statement") being submitted by the Company pursuant to the
requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended (listing Regulations')

2. This statement, which is the responsibility of the Company's Management and approved
by the Board of Directors, has been prepared in accordance with recognition and
measurement principles laid down in the Indian Accounting Standard 34 "Interim
Financial Reporting" ("Ind AS 34") prescribed under Section 133 of the Companies Act,
2013 and other accounting principles generally accepted in India and in compliance with
Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations
2015, as amended ("Listing Regulations"). Our responsibility is to issue a report on the
financial statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review
Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the
Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of
India. This standard requires that we plan and perform the review to obtain moderate
assurance as to whether the financial results are free of material misstatement. A review
is limited primarily to inquiries of company personnel and analytical procedures applied
to financial data and thus provides less assurance than an audit. We have not performed
an audit and accordingly, we do not express an audit opinion.

4. Based on our review conducted as above, nothing has come to our attention that causes
us to believe that the accompanying statement of unaudited standalone financial results
prepared in accordance with applicable Indian Accounting Standards and other
recognized accounting practices and policies has not disclosed the information required
to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 as amended, including the manner in which it is to be
disclosed, or that it contains any material missta

48, Masilamani Road, Balaji Nagar, T: +91- 044 - 2813 1128 / 38 / 48 / 58

Royapettah, Chennai - 600 014. India. Page 1 of 2 mail@brahmayya.com I www.brahmayya.com
�=---
 Brahmayya&co-
_________________________ Chartered Accountants

5. Without qualifying our review conclusion, attention is invited to

a) Note No.4 to the standalone financial results, which explains the period of the lease
relating to the leasehold land on which one of the manufacturing units of the Company
(Unit-ti) is operating has since expired on June 30, 2017, for which requests for renewal
have been filed by the Company with Govt. of Tamil Nadu (the Lessor), and extension of
the lease is awaited. Pending renewal of the lease, no adjustments have been made in
the financial results for the period for any potential impact of non-renewal of land lease
which is unascertainable at this point of time. Further, the management is confident of
obtaining the renewal of the lease of land in the due course, relying on the same the
implementation of Ind AS 116- Leases has been based on the lease renewal period
applied and current lease rent payments as per the latest demand.

b) Note No. 5 to the standalone financial results, which explains the implications of floods
(Cyclone Michaung) affecting the production plants. As per the claim filed by the
Company, the damages to inventories and Property, Plant and Equipment are currently
under assessment by the insurer, pending the same the inventories and the Property,
Plant and Equipment are carried at book values and the costs incurred towards repairs
for commencing the operations after the Cyclone is treated as insurance receivable.
Thus, the overall implications that may arise on the eventual approval of the Company's
claim by the insurer are unascertainable at this point in time hence, no adjustments have
been made in the financial results.

For Brahmayya& Co.,

Chartered Accountants
Firm Registration No. 0005115

N Srikrish
Partner
Place : Chennai Membership No. 026575
Date : November 04, 2024 UDIN: 2..Lf O 2 b5 f SBkC 1<.EV, 3 �7�

48, Masilamani Road, Balaji Nagar, T: +91- 044 - 2813 1128 / 38 I 48158
Royapettah, Chennai - 600 014. India. Page 2 of 2 E: mail@brahmayya.com I www.brahmayya.com
 MANALI PETROCHEMICALS LIMITED
Registered Office: SPIC HOUSE, 88, Mount Road, Guindy, Chennai - 600 032
Telefax: 044-2235 1098 E-mail: companysecretary@manalipetro.comWebsite:www.manalipetro.com
Corporate Identity Number : L24294TN1986PLC013087

Statement of Standalone Financial Results for the Quarter and Year-to-date 30.09.2024 [Rs. in Lakh]
Three Months ended Year-to-date Year ended
S.No Particulars Unaudited Audited
30-Sep-24 30-Jun-24 30-Sep-23 30-Sep-24 30-Sep-23 31-Mar-24
1 Revenue from Operations 16,554 17,776 21,591 34.330 45,190 79,763
2 Other Income 372 488 591 859 1,107 2,443
3 Total Income (1+2) 16,926 18,264 22,182 35,189 46,297 82,206
4 Expenses
Cost of materials consumed 17,540 12,915 16,052 30,455 34,152 60,407
Changes in inventories of finished goods and work-in- progress (4,711) (599) (303) (5,310) 762 (1,072)
Utility Expenses 2,180 2,518 2,827 4,697 5,458 10,376
Employee benefits expense 926 942 950 1,868 1,867 3,729
Finance costs 217 238 187 454 367 803
Depreciation and amortization expense 581 581 512 1,162 1,040 2,127
Other expenses 1,601 1,412 1,484 3,013 2,980 6,040
Total Expenses 18,334 18,007 21,709 36,339 46,626 82,410
5 Profit/ (Loss) Before Exceptional items and Taxes (3-4) (1,408) 257 473 (1,150) (329) (204)
6 Exceptional Items (Refer Note no. 6) - - - - - (554)
7 Profit/ (Loss) Before Tax (5+6) (1,408) 257 473 (1,150) (329) (758)
8 Tax Expense
Current tax (60) 68 - 8 - 60
Short/(Excess) provision for tax relating to prior years - - - - - 13
Deferred tax (276) 14 146 (261) (33) 94
Net tax expense (336) 82 146 (253) (33) 167
9 Profit/ (Loss) for the period (7-8) (1,072) 175 327 (897) (296) (925)
10 Other Comprehensive Income
Items that will not be classified to profit or (loss)
Changes in Fair Value of Equity Investments (0) 0 0 0 1 3
Profit on sale of Investment - - - - - 1
Remeasurement Cost of defined benefits (4) (5) 17 (9) (68) (34)
Income Tax relating to items that will not be re-classified to Profit or Loss 1 1 (4) 2 17 8
11 Total Comprehensive Income for the period (9+10) (1,075) 171 339 (904) (346) (948)
12 Paid-up equity share capital (Face value of Rs.5/- each) 8,603 8,603 8,603 8,603 8,603 8,603
13 Other Equity excluding Revaluation Reserves as at 31st March 88,628
14 Earnings Per Share of Rs. 5/- each (Basic and Diluted) (Not annualised) (0.62) 0.10 0.19 (0.52) (0.17) (0.54)

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 Notes:
1 Statement of Standalone Assets and Liabilities as at September 30, 2024
{Rs. In Lakh}
As at As at As at
Particulars September 30 2024 September 30 2023 March 31 2024
Unaudited Audited
A. ASSETS
I Non Current Assets
a) Property, Plant and Equipment (refer note no 5) 21,021 19,524 21,445
b) Capital work-in-progress 2,905 3,069 1,705
c) Right of Use Assets 5,138 4,506 5,247
d) Financial Assets:
i) Investments 40,477 39,963 40,213
ii) Other Financial Assets 687 597 676
e) Deferred Tax Assets (net) 120 - -
f} Other Non-Current Assets 2,712 2,011 2,098
TOTAL NON-CURRENT ASSETS 73,060 69,670 71,384
II Current Assets
a) Inventories (refer note no 5) 14,548 6,202 8,427
b) Financial Assets:
i) Current Investments - - 2,517
ii) Trade Receivables 6,136 10,001 7,228
iii) Cash and Cash Equivalents 12,911 27,812 20,311
iv) Bank balances other than ii) above 5,967 2,279 5,857
v) Loans 29 32 30
vi) Other Financial Assets (refer note no 5) 766 200 610
c} Other Current Assets 1,802 1,126 1.272
TOTAL CURRENT ASSETS 42 159 47,652 46,252
TOTAL ASSETS 1,15,219 1,17,322 1,17,636
B. EQUITY AND LIABILITIES
I Equity
a) Equity Share Capital 8,603 8,603 8,603
b} Other Eauitv 86,433 89,231 88,628
TOTAL-EQUITY 95,036 97,834 97,231
II Liabilities
II.A Non-Current Liabilities
a) Financial Liabilities
i) Long-Term Lease Liabilities 6,840 6,064 6,896
ii) Other Financial Liabilities 69 69 69
b) Provisions 228 578 352
c) Deferred Tax Liabilities (net) - 14 141
d} Other Non-Current Liabilities 282 321 289
TOTAL NON-CURRENT LIABILITIES 7,419 7,046 1141
11.B Current Llabilities
a) Financial Liabilities
i) Borrowings 994 1,329 2,229
ii) Short-Term Lease Liabilities 429 348 399
iii) Trade Payables
1 Total outstanding dues to Micro Enterprises and Small Enterprises 100 141 197
2 Total outstanding dues to creditors other than Micro Enterprises and Small
Enterprises 3,982 4,411 3,803
iv) Other Financial Liabilities 2,631 1,905 1,743
b) Other Current Liabilities 2,158 2,025 2,133
c} Provisions 2,470 2,283 2,154
TOTAL CURRENT LIABILITIES 12,764 12,442 12,658
TOTAL LIABILITIES 20,183 19,488 20,405
TOTAL EQUITY AND LIABILITIES 1,15,219 1 17,322 1,17,636
 2 Statement of Standalone Cash Flow as at September 30, 2024
(Rs In Lakh}
For the year ended For the year ended For the period ended
Particulars Seotember 30 2024 Seotember 30. 2023 March 31 2024
Unaudited Audited
A. CASH FLOW FROM OPERATING ACTIVITIES
Profit before Tax (1,151) (329) (758)
Adjustments for
Depreciation 1,162 1,040 2,127
Provisions no longer required written back . . (238)
Dividend income - Mutual Funds (19) (0) (17)
Finance costs 4 54 367 803
Remeasurement Cost of net defined benefits (9) (68) (34)
Interest income
Provision for doubtful debts -
(812) (920)
1
(2,032)
2
Profit on sale of investment . .
(1)
Net unrealised exchange (gain) / loss 30 . 3
Loss on sale I write-off of assets . (6) 8
Operating Profit (345) 84 (137)
Changes In Working Capital
Adjustments for (increase) / decrease in operating assets
Inventories (6,121) 1,580 (645)
Trade Receivables 1,092 741 3,512
Other Financial Assets (166) 16 (431)
Other Current Assets (530) 305 159
Other Non-Current Assets 44 39 95
Adjustments for increase I (decrease) in operating liabilities
Trade payables 52 256 31
Other financial liabilities (403) 663 735
Other Current liabilities 196 54 (45)
Short-term provisions 316 260 131
Lease Liabilities (164) (487)
Other Non Financial Liabilities (7) (377) (32)
Long-term provisions (124) 68 (158)
Net income tax paid (456) (165) (435)
Net cash from / (used in) Operating activities [A] 16,615} 3,525 2,293
B. CASH FLOW FROM INVESTING ACTIVITIES
Capital expenditure on Property, Plant & Equipments, including capital
advances (2,070) (931) (2,450)
Net proceeds from Investments in Equity shares (264) (63) (312)
Investments in Mutual Funds (Current Investment) 2,536 - (2,500)
Interest income 812 920 2,032
Bank balances not considered as cash and cash equivalents 1,180 (1,619) (5,196)
Net cash from I (used lnl lnvestlni:i activities £8] 2,194 (1,694} (8,426)
C. CASH FLOW FROM FINANCING ACTIVITIES
(Repayment) / Proceeds from Short-term borrowings (1,235) 669 1,569
Interest paid (454) (367) (803)
Dividend oaid (1,291) (1,2911 (1,291)
Net cash from / (used In) Flnanclna ActlVllles [CJ -,2 9801 (9891 {526)
Net (decrease) / increase In cash and cash eaulvalents = IA+B+Cl (7,401) 843 {6,658}
Cash and cash equivalents at the beainning of the period 20,311 26,969 26,969
Cash and cash equivalents at the end of the period 12,911 27,812 20,311

Components of Cash & Cash Eaulvalents:

Cash on hand 1 1 1
Balance(s) In current accounts (including debit balance(s) in cash credit) . 1 .
Balances in Fixed deposit original maturity period less than 3 months 12,910 27,810 20,310
Total Cash and Cash Equivalents 12,911 27,812 20,311
Notes to Standalone Financial Results:
3 Review and approval of the financial results:
The above results were reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on November 04, 2024 and have been reviewed by the Statutory
Auditors of the Company.
4 Leasehold Land:
The period of lease relating to the leasehold land expired on June 30, 2017 for which request for renewal for a further period of 30 years has been filed by the Company with Government of
Tamil Nadu, which is under process. Pending renewal, lease rent has been paid till 30th June 2025 and has been accepted and encashed by the authority. The Management is confident that
renewal of the lease will be granted as requested, as the land has been put to use for the specific purpose for which it has been allotted and hence no adjustments for impact of non-renewal,
(which however is unascertainable at this point in time), are necessary in the financial results.
The company has adopted Ind AS 116 "Leases" with effective from 01.04.2021 considering that the lease would be renewed and lease rent obligations as per the demand notices received.
Accordingly, the Right of Use Asset value and corresponding lease liability are recognised in the books of accounts. Adjustments, if any necessitated by the actual terms of the renewal would
be made in due course, on receipt of the same from the Government.
The Auditors have included an Emphasis of Matter on the same in their Review Report.
5 The manufacturing plants of the company have been affected by the floods (Cyclone Michaung) in the month of December 2023 caused temporary disruptions to the plant operations
including certain damages. The company resumed plant operations in a phased manner during December 2023 and entire plant operations started in January 2024 after carrying out repairs.
The company has assessed the damages to the PPE and Inventories for which claims have been lodged with the insurer which is currently under evaluation. Pending determination of the
eventual damage as adjusted for salvages, the PPE and Inventories are continued to be carried at book values and further the repairs incurred amounting to Rs. 672 lakh is carried as
Insurance receivable (net of interim claim received amount Rs. 300 lakhs), in view of which the impact on the financial results is unascertainable, accordingly no adjustments have been
made in the financial results in this regard.
The Auditors have included an Emphasis of Matter on the same in their Review Report.
6 Exceptional Items:
During the previous financial year, the company has provided for the Unspent Corporate Social Responsibility (CSR) obligations for the earlier years amounting to Rs. 554 lakh (already
funded to the designated bank account as per CSR Rules) and the same has been shown as exceptional items.
7 Segment reporting:
The Company is exclusively engaged in the business of Manufacture and sale of Petrochemical products primarily in India. As per Ind AS 108 "Operating Segments" specified under Section
133 of the Companies Act, 2013, there are no reportable operational or geographical segments applicable to the Company.
8 Previous period/ year figures have been regrouped, wherever necessary.

For Manali Petrochemicals Limited

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 Brahmayya CO•
________________ ________ Chartered Accountants

Independent Auditor's Review Report on Unaudited Quarterly and Year to Date Consolidated
Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 (as amended)

To,
Board of Directors,
The Manali Petrochemicals Limited

1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results

of Manali Petrochemicals Limited ("the Holding Company") and its subsidiaries (the Holding
Company and its subsidiaries together referred to as "the Group") for the quarter ended 30th
September 2024 and year to date results for the period from 01st April 2024 to 30th
September 2024 ("the Statement"), being submitted by the Parent pursuant to the
requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as amended ("Listing Regulations").

2. This Statement, which is the responsibility of the Holding Company's Management and
approved by the Holding Company's Board of Directors, has been prepared in accordance
with the recognition and measurement principles laid down in Indian Accounting Standard
34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the
Companies Act, 2013, and other accounting principles generally accepted in India and in
compliance with Regulation 33 of Listing Regulations. Our responsibility is to express a
conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review
Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the
Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India.
A review of interim financial information consists of making inquiries, primarily of persons
responsible for financial and accounting matters, and applying analytical and other review
procedures. A review is substantially less in scope than an audit conducted in accordance
with Standards on Auditing and consequently does not enable us to obtain assurance that we
would become aware of all significant matters that might be identified in an audit.
Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under
Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, as amended, to the extent applicable.

48, Masilamani Road, Balaji Nagar, T :+91- 044- 2813 1128 / 38 / 48 I 58

Royapettah, Chennai - 600 014. India. Page 1 of 3 E: mail@brahmayya.com I www.brahmayya.com
 Brahmayya CO•
_________________________ Chartered Accountants

4. The Statement includes the results of the following entities:

SI No Name of the Entity Relationship
I AMCHEM Speciality Chemicals Private Limited, 100% Subsidiary
Singapore
II Notedome Limited, UK Step down Subsidiary
Ill Penn White Limited, UK Step down Subsidiary
IV Notedome Europe GmbH, Germany Step down Subsidiary
V Manali Speciality Private Limited, India 100% Subsidiary
VI Pennwhite India Private Limited, India Step down Subsidiary

S. Based on our review conducted and procedures performed as stated in paragraph 3 above
and based on consideration review reports of other independent Auditor to in paragraph 7
below, nothing has come to our attention that causes us to believe that the accompanying
Statement, prepared in accordance with the recognition and measurement principles laid
down in the aforesaid Indian Accounting Standard and other accounting principles generally
accepted in India, has not disclosed the information required to be disclosed in terms of
Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed,
or that it contains any material misstatement.

6. Without qualifying our review conclusion, attention is invited to

i) Note No.5 to the consolidated financial results, which explains the period of lease relating
to the leasehold land on which one of the manufacturing units of the Holding Company
(Unit-II) is operating has since expired on June 30, 2017, for which requests for renewal
have been filed by the holding company with Govt. of Tamil Nadu (the Lessor), and
extension of the lease is awaited. Pending renewal of the lease, no adjustments have been
made in the Group's financial results for the period for any potential impact of non­
renewal of land lease which is unascertainable at this point in time. Further, the
management is confident of obtaining the renewal of the lease of land in the due course,
relying on the same the implementation of Ind AS 116- Leases has been based on the lease
renewal period applied and current lease rent payments as per the latest demand

ii) Note No 6 to the consolidated financial results, which explains the implications of floods
(Cyclone Michaung) affecting the holding company's production plants. As per the claim
filed by the Management the damages to inventories and Property, Plant and Equipment
are currently under assessment by the insurer, pending the same the inventories and the
Property, Plant and Equipment are carried at book values and the costs incurred towards
repairs for commencing the operations after the Cyclone is treated as insurance
receivable. Thus, the overall implications that may arise on the eventual approval of
the holding company's claim by the insurer are unascertainable at this point in time hence,
no adjustments have been made in the financial results.

7. We did not review the interim financial information/ results of four subsidiaries included in
the statement, whose financial information/results t total assets of Rs. 70,774 Lakhs as
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48, Masilamani Road, Balaji Nagar, T: +91- 044- 2813 1128 /38 / 48 / 58
Page 2 �c !'11'1,_1 q� f E:
Royapettah, Chennai - 600 014. India. of 9s 01A mail@brahmayya.com I www.brahmayya.com
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 Brahmayya CO•
____ _____ _ _ _ _ _ __ _ _ _ _ __ Chartered Accountants

at 30th September 2024 and total revenue of Rs. 7,216 Lakhs and Rs. 13,779 Lakhs, total net
profit after tax of Rs.1,505 Lakhs and Rs. 2,646 Lakhs and total comprehensive income of Rs.
1,505 Lakhs and Rs. 2,646 Lakhs for the quarter and half year ended 30th September 2024
respectively and cash flows of Rs. 3,019 Lakhs for the period from oist April 2024 to 30th
September 2024, as considered in the unaudited consolidated financial results. The financial
information/ Financial Results have been reviewed by other independent Auditor whose
reports have been furnished to us by the management and our conclusion on the statement,
in so far it relates to the amounts and disclosures included in respect of these subsidiaries is
based solely on the reports of other Auditors and procedures performed by us as stated in
paragraph 3 above.

The financial results and other financial information of three foreign subsidiaries have been
prepared in accordance with accounting principles generally accepted in their respective
countries and which have been reviewed by other auditors under generally accepted auditing
standards applicable in their respective countries. The Holding Company's management has
converted the financial results of such subsidiaries located outside India from accounting
principles generally accepted in their respective countries to accounting principles gen'erally
accepted in India. We have reviewed these conversion adjustments made by the Holding
Company's management. Our conclusion in so far as it relates to the results of such
subsidiaries located outside India is based on the reports of other auditors and the conversion
adjustments prepared by the management of the Holding Company are reviewed by us.
Our conclusion on the Statement is not modified with respect to the above matter

8. The consolidated unaudited financial results include the interim financial results of two
subsidiaries which have not been reviewed/audited by their auditors, whose financial
information/results reflect total assets of Rs. 20 Lakhs as at 30th September 2024 and total
revenue of Rs. nil Lakhs and Rs. nil Lakhs, total net loss after tax of Rs. 0.46 Lakhs and Rs. 0.46
Lakhs and total comprehensive loss of Rs. 0.46 Lakhs and Rs. 0.46 Lakhs for the quarter and
half year ended 30th September 2024 respectively and cash flows of Rs. 0.47 Lakhs for the
period from 01 st April 2024 to 30th September 2024, as considered in the unaudited
consolidated financial results.
Our conclusion on the Statement is not modified with respect to the above matter

For Brahmayya& Co.,

'
Chartered Accountants
00511S

N Srikris
Partner
Place : Chennai Membership No. 026575
Date : November 04, 2024 4
UDIN: 2 D 2�5·7 S- 131<.C.Kk W 1 s 2 :J..
48, Masilamani Road, Balaji Nagar, T: +91- 044- 2813 1128 / 38 / 48 / 58
Royapettah, Chennai - 600 014. India. Page 3 of 3 E: mail@brahmayya.com I www.brahmayya.com
 MANALI PETROCHEMICALS LIMITED
Registered Office: SPIC HOUSE, 88, Mount Road, Guindy, Chennai - 600 032
Telefax: 044-2235 1098 E-mail: Parent Companysecretary@manalipetro.com Website: www.manalipetro.com
Corporate ldenti.!¥_ Number: L24294TN1986PLC013087
Statement of Consolidated Financial Results for the Quarter and Year-to-date 30.09.2024 [Rs. in Lakh]
Three Months ended Year-to-date Year ended
S.No Particulars Unaudited Audited
30-SeP-24 30-Jun-24 30-SeP-23 30-Sep-24 30-Sep-23 31-Mar-24
1 Revenue from Operations 23,022 24,042 27,000 47,064 57,132 1.03.235
2 ,utner income 579 636 852 1,215 1,509 2,916
3 ITotal Income (1+2) 23,601 24,678 27,852 48,279 58,641 1,06,151
4 IExpenses
t;ost ot materials consumed 21,198 16,201 18,826 37,399 40,455 72,263
(.;nanges tn inventones or nnIsned goods and work-in- progress (4,987) (736) (164) (5,723) 909 (813)
Utlllty Expenses 2,244 2,564 2,867 4,808 5,538 10,579
t:mpIoyee l:lenettls expense 1,805 1,790 1,913 3,595 3,758 7,742
Finance costs 245 263 220 508 435 960
Depreciation and amortization expense 662 661 595 1,323 1,210 2,532
Other expenses 2.379 2,148 2,103 4,527 4,254 8,999
Total Expenses 23,546 22,891 26,360 46,437 56,559 1,02,262
5 Profit/(Loss) Before Exceptional items and Tax (3-4) 55 1,787 1,492 1,842 2,082 3,889
6 Exceptional Items (Refer Note no. 7) - - - - - (554'
7 Profit/(Loss) Before Tax (5+6) 55 1,787 1,492 1,842 2,082 3,335
8 Tax Expense
Current tax 310 471 260 781 618 1,307
Excess provision for tax relating to prior years written back - - - - - 13
Deferred tax (275) 14 146 (261) (33) 94
Net tax expense 35 485 406 520 585 1,414
9 Profit/(Loss) for the period (7-81 20 1,302 1,086 1,322 1,497 1,921
10 Other Comprehensive Income
Items that will not be re-classified to profit or (loss)
Chanqes in Fair Value of Equity Investments (0) 0 0 0 1 3
Profit on sale of Investment - - - - 1
Remeasurement Cost of defined benefits (4) (5) 16 (9) (68) (34
Income Tax relating to items that will not be re-classified to Profit or Loss 1 1 {4' 2 17 8
Items that will be re-classified to profit or (loss)
Changes in Foreign Currency Translation 883 59 259 942 313 1,125
11 Total Comprehensive Income for the period (9+10) 900 1,357 1,357 2,257 1,760 3,024
12 Paid-up equitv share caoital (Face value of Rs.5/- each) 8,603 8,603 8,603 8,603 8,603 8,603
13 Other Equity excludin!'.I Revaluation Reserves as at 31st March 97,567
14 IEarnmgs Per �nare of Rs. 5/- each {Basic and u11uted, Not annualised) 0.01 0.76 0.63 0.77 0.87 1.12

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1 Statement of Consolidated Assets and Liabilities for the Period ended September 30, 2024
[Rs. In Lakh]
As at As at As at
Particulars
September 30, 2024 September 30, 2023 March 31, 2024
Unaudited Audited
A. ASSETS
I Non Current Assets
a) Property, Plant and Equipment (Refer Note no. 6) 22,657 20,954 22,821
b) Capital work-in-progress 2,905 3,069 1,705
c) Right of Use Assets 5,745 5,257 5,921
d) Goodwill on Consolidation (Refer Note no. 9) 27,690 27,006 27,109
e) Financial Assets:
i) Investments 624 112 361
ii) Other Financial Assets 687 597 676
f) Deferred Tax Assets (Net) 56 - -
a) Other non-current assets 2,721 2,011 2,098
TOTAL NON-CURRENT ASSETS 63 085 59,006 60,691
II Current Assets
a) Inventories (Refer Note no. 6) 18,042 9,210 10,844
b) Financial Assets:
i) Current Investments - - 2,517
ii) Trade Receivables 11,126 14,081 12,102
iii) Cash and Cash equivalents 30,606 41,453 36,385
iv) Bank balances other than ii) above 5,967 2,279 5,857
v) Loans 30 33 31
vi) Other Financial Assets (Refer Note no. 6) 841 228 665
c) Other Current assets 2,504 1,514 1,745
TOTAL CURRENT ASSETS 69,116 68,798 70,146
TOTAL ASSETS 1,32,201 1,27,804 1,30,837
B. EQUITY AND LIABILITIES
I Equity
a) Equity share capital 8,603 8,603 8,603
b) Other Eauitv 98,534 96,305 97,567
TOTAL-EQUITY 1,07,137 1,04,908 1,06,170
II Liabilities
II.A Non-Current Liabilities
a) Financial Liabilities
i) Long-Term Lease Liabilities 7,275 6,658 7,479
ii) Other Financial Liabilities 69 69 69
b) Provisions 228 578 352
c) Deferred Tax Liabilities (net) - 78 206
d) Other non-current Liabilities 282 321 289
TOTAL NON-CURRENT LIABILITIES 7,854 7,704 8,395
11.B Current Liabilities
a) Financial Liabilities
i) Borrowings 994 1,329 2,229
ii) Short-Term Lease Liabilities 649 531 597
iii) Trade Payables
1 Total outstanding dues of Micro Enterprises and Small Enterprises 100 141 197
2 Total outstanding dues of creditors other than Micro Enterprises and Small
6,547 6,278 5,827
Enterprises
iii) Other financial liabilities 2,649 2,124 1,743
b) Other current liabilities 2,658 1,921 2,266
c) Provisions 2,507 2,300 2,193
d) Current Tax Liabilities (Net) 1,106 568 1,220
TOTAL CURRENT LIABILITIES 17,210 15,192 16,272
TOTAL LIABILITIES 25,064 22,896 24,667
TOTAL EQUITY AND LIABILITIES 1,32,201 1,27,804 1 30 837
 2 Consolidated Statement of Cash Flow for the Period ended September 30, 2024
rRs. In LakhJ
For the year ended For the year ended For the year ended
Particulars
September 30, 2024 September 30, 2023 March 31, 2024
Unaudited Audited
A. CASH FLOW FROM OPERATING ACTIVITIES
Profit before Tax 1,843 2,082 3,335
Adjustments for
Depreciation 1,323 1,210 2,532
Provisions no longer required written back - - (238)
Dividend income - Mutual Funds (19) (0) (17)
Finance costs 508 435 960
Remeasurement Cost of net defined employee benefits (9) (68) (34)
Interest income (1,051) (926) (2,413)
Provision for doubtful debts 1 1 165
Profit on sale of investments - - (1)
Net unrealised exchange (gain) / loss 100 30 254
Loss on sale / write-off of assets - - 225
Operating Profit 2,697 2,764 4,768
Changes in Working Capital
Adjustments for (Increase)/ decrease in operating assets
Inventories (7,198) 1,668 34
Trade Receivables 975 1,850 3,665
Other Financial Assets (186) 21 (454)
Other Current Assets (759) 321 91
Other Non-Current Assets 44 (285) (122)

Adjustments for Increase/ (decrease) in operating liabilities

Trade payables 623 (49) (100)
Other financial liabilities 906 1,238 689
Other Current liabilities 292 (673) (920)
Short-term provisions 314 240 133
Lease Liabilities (152) (570)
Other Non Financial Liabilities (269) (681) 63
Long-term provisions (124) 69 81
Net income tax paid (1,231) (356) (1,058)
Net cash from / (used inl Ooeratina activities rAl 14 0681 6,127 6,300
B. CASH FLOW FROM INVESTING ACTIVITIES
Capital expenditure on Property, Plant & Equipments, including capital
advances (2,386) (981) (2,571)
Net proceeds from Investments in Equity shares (263) (64) (311)
Interest income 1,051 926 2,413
Investments in Mutual Funds (Current Investment) 2,536 - (2,500)
Additional Cash paid to erstwhile shareholders of the subsidiary (447) - .
Bank balances not considered as cash and cash equivalents ,110: (1,618) (5,196]
Net cash from / (used in) lnvestina activities [BJ 381 (1,737} (8,164]
C. CASH FLOW FROM FINANCING ACTIVITIES
(Repayment) / Proceeds from Short-term borrowings (1,235) 669 1,569
Interest paid (508) (435) (960)
Dividend caid (1,291) (1 291l (1,291}
Net cash from/ (used inl Financlna Activities [CJ 13 034' 11,057) (682]
Net (decrease) / increase in cash and cash eauivalents = (A+B+Cl (6 121: 3,333 (2,547]
Cash and cash equivalents at the bei:iinnini:i of the period 36,385 37,807 37,807
Effect of Changes in Foreion Currencv Translation (FCTRl 942 313 1,125
Cash and cash equivalents at the end of the oerlod 30,606 41,453 36,385

Comoonents of Cash & Cash Eauivalents·

Cash on hand 1 1 1
Balance(s) In current accounts (including debit balance(s) in cash credit) 6,773 4,283 5,905
Balances in Fixed deposit original maturity period less than 3 months 23,832 37,169 30,479
Total Cash and Cash Eauivalents 30,606 41 453 36,386
Notes to Consolidated Financial Results:
3 These consolidated financial results relate to Manali Petrochemicals Limited (the ' Holding Company') and its subsidiaries/ step-down subsidiaries, 1.) AMCHEM Speciality Chemicals Private Limited,
Singapore, 2.) Notedome Limited, UK, 3.) Penn-White Limited, UK, 4.) Manali Speciality Private Limited, India, 5.) Notedome Europe GmbH, Germany, and 6.) Pennwhite India Private Limited, India.

4 Review and Approval of the financial results:

The above results were reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on November 04, 2024, respectively and have been reviewed by the Statutory
Auditors of the Company.
5 Leasehold Land:
The period of lease relating to the leasehold land expired on June 30, 2017 for which request for renewal for a further period of 30 years has been filed by the Holding Company with Government of
Tamil Nadu, which is under process. Pending renewal, lease rent has been paid till 30th June 2025 and has been accepted and encashed by the authority. The Management is confident that renewal
of the lease will be granted as requested, as the land has been put to use for the specific purpose for which it has been allotted and hence no adjustments for impact of non-renewal, (which however is
unascertainable at this point in time), are necessary in the financial results.
The holding company has adopted Ind AS 116 "Leases" with effective from 01.04.2021 considering that the lease would be renewed and lease rent obligations as per the demand notices received.
Accordingly, the Right of Use Asset value and corresponding lease liability are recognised in the books of accounts. Adjustments, if any necessitated by the actual terms of the renewal would be made
in due course, on receipt of the same from the Government.
The Auditors have included an Emphasis of Matter on the same in their Review Report.
6 The manufacturing plants of the holding company have been affected by the floods (Cyclone Michaung) in the month of December 2023 caused temporary disruptions to the plant operations including
certain damages. The holding company resumed plant operations in a phased manner during December 2023 and entire plant operations started in January 2024 after carrying out repairs. The
holding company has assessed the damages to the Property, Plant & Equipment (PPE) and Inventories for which claims have been lodged with the insurer which is currently under evaluation.
Pending determination of the eventual damage as adjusted for salvages, the PPE and Inventories are continued to be carried at book values and further the repairs incurred amounting to Rs. 672 lakh
is carried as Insurance receivable (net of interim claim received amount Rs. 300 lakhs), in view of which the impact on the financial results is unascertainable, accordingly no adjustments have been
made in the financial results in this regard.
The Auditors have included an Emphasis of Matter on the same in their Review Report.
7 Exceptional Items:
During the previous financial year, the company has provided for the Unspent Corporate Social Responsibility (CSR) obligations for the earlier years amounting to Rs. 554 lakh (already funded to the
designated bank account as per CSR Rules) and the same has been shown as exceptional items.
8 Segment reporting:
Manufacture of petrochemicals is the only operating segment as defined in Ind AS 108: Operating Segments. And hence there is no separate segment reporting is applicable. However, entity wide
disclosure of Revenue from External Customers is provided (in Rs. Lakhs):
Quarter Ended Year-to-date Year Ended
Geographical Area
30-Seo-24 30-Jun-24 30-Seo-23 30-Seo-24 30-Sep-23 31-Mar-24
India 16,550 17,749 21,525 34,299 45,034 79,613
European Union and UK 6,472 6,293 5,372 12,765 11,891 23,208
Rest of the World - - 103 - 207 414
9 Goodwill:
During the Financial Year 2022-23, the Parent Company acquired Penn Globe Limited, UK ("PGL") through its subsidiary AMCHEM Speciality Chemicals Private Limited, Singapore ("AMCHEM") for
an aggregate of GBP 24.98 million (includes Net cash consideration of GBP 20.56 million, Performance linked Consideration of GBP 1.50 million and adjustment of loans of GBP 2.92 million). As per
the Share Purchase Agreement ("SPA") executed by AMCHEM with erstwhile Sellers of PGL, performance linked consideration is to be determined based on subsequent performance, accordingly the
same was determined during the quarter ended 30.09.2023 at GBP 67,330 (Rs. 68 Lakhs as against GBP set apart as consideration based on performance) as the performance linked consideration.
Hence the corresponding adjustments resulting from the reduction in the purchase consideration was made to the carrying value of Goodwill in the Consolidated financial results during the previous
financial year.
During the period ended 30th September 2024, tax related and other payments amounting to USO 532,953, has been made by AMCHEM, towards its obligation as an additional consideration and
investment, to erstwhile shareholders of PGL, in terms of the SPA conditions, and accordingly corresponding adjustment have been made to the carrying value of Goodwill in the Consolidated
financial results.
10 Previous period/ year figures have been regrouped, wherever necessary.
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Place: Chennai "'1i � R Chandrasekar
Date: November 04, 2024 � � \�\ SOO 032
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DIN 06374821