PennWhite, UK (PennWhite) and KRAHN UK (KRAHN) announced today a long-term distribution agreement related to the distribution of silicone oil in the UK and Ireland market, through the appointment of KRAHN UK as a distributor of silicone oils under the PennWhite brand, with immediate effect. The partnership will broaden the footprint of PennWhite silicone oils in the UK and Ireland markets and help meet the growing demand for premium products and more accessible supply options. Under the terms of the agreement KRAHN will market and promote PennWhite`s silicone portfolio to a wide range of their industrial customers in the UK and Ireland. PennWhite, based in Middlewich (UK) is a leading manufacturer of antifoam chemistry under the renowned FoamDoctor� brand, and supplies a portfolio of silicone oils under the PennWhite brand. A wide range of other speciality chemicals are also manufactured to service the needs of long-term customers.PennWhite`s chemical processing aides play an essential role in the products of the world`s biggest brands: most consumers may not realise that many of their everyday products have been touched by specialist processing aids, which are widely used in a wide range of applications, like food and beverage processing, wastewater treatment, upstream and downstream oil, and increasingly in the coatings and adhesives industry.The company was bought in 2022 by Manali Petrochemicals (MPL), India`s only integrated manufacturer of polyols and a part of AM International, Singapore. Powered by Capital Market - Live News

Manali Petrochemicals announced that the Board of Directors of the Company at its meeting held on 13 May 2024, inter alia, have recommended the final dividend of Rs 0.75 per equity Share (i.e. 15%) , subject to the approval of the shareholders.Powered by Capital Market - Live News

Net profit of Manali Petrochemicals reported to Rs 1.30 crore in the quarter ended March 2024 as against net loss of Rs 0.45 crore during the previous quarter ended March 2023. Sales declined 23.16% to Rs 256.28 crore in the quarter ended March 2024 as against Rs 333.52 crore during the previous quarter ended March 2023.For the full year,net profit declined 62.09% to Rs 19.21 crore in the year ended March 2024 as against Rs 50.67 crore during the previous year ended March 2023. Sales declined 12.30% to Rs 1032.35 crore in the year ended March 2024 as against Rs 1177.09 crore during the previous year ended March 2023. ParticularsQuarter EndedYear Ended�Mar. 2024Mar. 2023% Var.Mar. 2024Mar. 2023% Var. Sales256.28333.52 -23 1032.351177.09 -12 OPM %6.751.82 -4.336.31 - PBDT20.678.93 131 64.2193.14 -31 PBT13.542.42 460 38.8969.97 -44 NP1.30-0.45 LP 19.2150.67 -62 Powered by Capital Market - Live News

Manali Petrochemicals will hold a meeting of the Board of Directors of the Company on 13 May 2024Powered by Capital Market - Live News

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