Chennai, India — Manaili Petrochemicals 2016 revenue and income were down around 21% compared with 2015, the company's audited accounts show.
Information posted on the Bombay Stock Exchange showed that the firm's sales were Rupee 5.78bn ($129m) in 2015 compared with 7.3bn in 2014, down 21%. It added that the firm posted a profits after costs of materials, stock-in-trade, inventories, employee pay, power and fuel, depreciation and amortisation, but ahead of taxation, at Rupee 507m in the year ended 31 March 2016, compared with Rupee 646m. This level is down 21% on the earlier year.
In the notes to the accounts, Manali said that during December 2015, its operations were hit by unprecedented rainfall, flooding and power interruptions which shut one of its plants down for 27 days and the other for 18 days. The company received an advance payment on an insurance claim of Rupee 60m which is being assessed by the Insurance company.