PennWhite, UK announced that it is expanding its direct presence in the Indian market through setting up of a subsidiary in India viz., PennWhite India effective 08 February 2024. PennWhite, based in Middlewich (UK) is a leading manufacturer of antifoam chemistry under the FoamDoctor� brand which is sold in more than 40 countries. A wide range of other speciality chemicals are also manufactured to service the needs of long term customers. PennWhite`s processing aids play an essential part in the products of the world`s biggest brands; most consumers may not realise that many of their everyday products have been touched by our specialist processing aids, which are widely used in a wide range of applications, like food & food processing, wastewater treatment, upstream and downstream oil, increasingly in the coatings and adhesives industry. The company was acquired in November 2022 by Manali Petrochemicals. PennWhite India will enable the company to address the growing needs of the Indian market for premium foam control solutions.Powered by Capital Market - Live News

Net profit of Manali Petrochemicals declined 6.67% to Rs 2.94 crore in the quarter ended December 2023 as against Rs 3.15 crore during the previous quarter ended December 2022. Sales declined 13.86% to Rs 204.75 crore in the quarter ended December 2023 as against Rs 237.70 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales204.75237.70 -14 OPM %2.521.76 - PBDT10.627.42 43 PBT4.531.67 171 NP2.943.15 -7 Powered by Capital Market - Live News

Manali Petrochemicals will hold a meeting of the Board of Directors of the Company on 12 February 2024.Powered by Capital Market - Live News

Manali Petrochemicals has resumed the entire operations of Plant 1 at Manali effective today i.e., 17 January 2024. With this resumption, both Plant 1 & 2 are fully operational.Powered by Capital Market - Live News

Manali Petrochemicals has received reaffirmation in credit rating from CARE Ratings as under:Long term bank facilities (Rs 50 crore)- CARE A+; Stable Short term bank facilities (Rs 50 crore) - CARE A1+ Powered by Capital Market - Live News