Chennai, India — Polyol supplier Manali had total sales of INR 8.2bn ($118 m) in the 2018 financial year. This is up 6.95% on the 2018 numbers.
Pre-exceptional Profit across the business rose 10.2% and reached INR 967.2m in the 2018 financial year.
The company said that in 2018 financial year there was a 22-day shutdown between December 2018 and January 2019, but despite this operating profits were similar to the previous year. The company managed to push through higher prices in the first half of the year.
Manali also started producing products that came from the 2016 Notedome purchase in Chennai. Aswin Muthiah, chairman, said that this led to ‘better product availability for clients across Asia.
Separately, Manali said that profits at Notedome came under pressure because the company decided to retain market share rather than to pass raw material price rises on to customers.
Across the business, the company faced a 13.9% increase in raw material costs. These rose from INR 483m in 2018 to INR 550m in 2019.
Currency conversion: XE.com
|Manali numbers Q1 2019 ( INR m)|
|Pre exceptionals Profit||967.2||877.9||10.17|