Whalesbook
To hua yeh ki, Indian Govt ne finally Manali Petrochemicals ke liye Propylene supply ka issue solve kar diya hai. Unhone Chennai Petroleum Corporation Limited (CPCL) se daily fixed quantity mein Propylene allocate karwane ka decision liya hai. Is government order ke baad, March se jo Chennai Plant-1 band pada tha, woh ab wapas start ho jayega.
Lekin, yahan ek twist hai. Yeh jo supply fix hui hai, woh sirf ek hi source se hai, matlab CPCL se. Aur quantity bhi fixed hai. Bade players jaise Reliance Industries ke paas toh khud ke integrated operations hote hain, woh alag alag sources se raw material manage kar sakte hain. MPL ka yeh model, jisme poora dependence govt allocated supply par hai, future mein risks create kar sakta hai. Agar future mein demand badh gayi ya govt ne allocation change kar diya, toh MPL ke liye dikkat ho sakti hai. History mein bhi aise supply issues ki wajah se stock price mein kaafi fluctuations dekhe gaye hain.
Stock ki baat karein toh, Manali Petro ki market value abhi around ₹7,500 Crore hai. Aaj stock mein 3% ki tezi aayi hai, lagbhag ₹165 ke aas paas, kyunki investors ko plant restart hone ki khabar aayi hai. Par experts ka kehna hai ki yeh valuation shayad future supply risks ko poora consider nahi kar raha.
Indian petrochemical industry toh waise bhi 8-10% annually grow kar rahi hai, but MPL ka growth limited reh sakta hai kyunki woh govt ke supply limits mein bandhe hue hain. Competitors jo raw material khud se manage karte hain, woh zyada flexible hain. Isiliye analysts ne abhi 'Hold' rating di hui hai, kyunki secure supply ka issue abhi bhi hai. Ab dekhte hain ki MPL future mein apni supply sources ko diversify kar pata hai ya nahi, taki woh industry growth ka poora fayda utha sake.