Chennai, India – Sales at Manali, an Indian polyol producer, rose 38.8% in Q3 2021 to INR 4.9bn ($65.4m).
EBITDA across the business rose by 16.3% to reached INR1.56bn in the quarter.
This is because the company had to pay the cost of a 30-year lease of the land it has occupied from 1987 to June 2020. The lease is in the process of renewal.
Chairman Ashwin Muthia said his company has 'bettered its financial performance even during tough times'.
The company also said it will be expanding its Notedome brand into Germany. This will be through its holding company Amchem Speciality Chemicals Singapore, which owns Notedome UK.
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