Manali Petro adopts strategy to accelerate growth, revamps management

While the company is scouting for acquisitions, it is also focusing on the management team with global expertise and eyeing strategic and product domains, says a senior official of the company

Manali Petrochemicals, part of the SPIC Group, has readied a plan to accelerate its growth — an increase in revenue from outside India and a better balance between commodities and value-adds.

It is looking for acquisitions and has strengthened the management team, with global expertise, says Muthukrishnan Ravi, managing director. In late 2016, he recalled, they had acquired Notedome, a UK-based maker of neuthane polyurethane cast elastomers, for around Rs 1.2 billion. This was to help the value-added contribution. Notedome caters to customers in 45-odd countries; the plan is to expand this in South Asia. The current value-added contribution