Mangalore Refinery And Petrochemicals Ltd

₹ 219 2.15%

03 Jul 4:10 p.m.

About

Mangalore Refinery & Petrochemicals Limited (MRPL) was set up as a joint venture (JV) between the AV Birla Group and Hindustan Petroleum Corporation Limited (HPCL). It is now a subsidiary of Oil & Natural Gas Corporation(ONGC). The company is mainly engaged in the business of refining crude oil, petrochemical business, trading of aviation fuels and distribution of petroleum products through retail outlets and transport terminals. ^[1]^[2]

Key Points

Business Segments
Retail: MRPL has forayed into the Retail service stations business with a unique retail brand ‘HiQ’. The Co. has service stations located in Mangalore, Hubli, Maddur, Mandya and Gubbi, Tumkur in Karnataka. ^[1]
Consumer Sale: The Co. is engaged in the consumer sale of products like Bitumen, Furnace Oil, High-Speed diesel, Xylol, Naphtha, Pet coke, Sulphur, etc. ^[2]
Petrochemical Sale: The Co. is also engaged in the manufacture and sale of polypropylene with the brand name ‘Mangpol’. ^[3]

Website BSE NSE

Market Cap ₹ 38,373 Cr.
Current Price ₹ 219
High / Low ₹ 289 / 78.4
Stock P/E 10.7
Book Value ₹ 75.6
Dividend Yield 0.46 %
ROCE 25.2 %
ROE 31.2 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company has delivered good profit growth of 59.8% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 35.8%

Cons

Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Refineries Industry: Refineries

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	13,581	11,219	13,243	20,419	24,815	32,290	24,608	26,557	25,365	21,173	19,230	24,667	25,329
	12,675	10,934	13,264	18,702	21,874	27,576	26,603	26,270	21,875	19,105	17,091	23,508	22,999
Operating Profit	905	285	-21	1,717	2,941	4,714	-1,995	287	3,490	2,068	2,138	1,159	2,330
OPM %	7%	3%	-0%	8%	12%	15%	-8%	1%	14%	10%	11%	5%	9%
	26	14	23	43	-4	37	32	60	86	52	74	40	31
Interest	210	310	179	236	394	302	315	338	330	267	311	274	262
Depreciation	293	289	212	290	220	296	297	298	296	294	296	334	333
Profit before tax	428	-299	-390	1,235	2,323	4,153	-2,576	-288	2,950	1,559	1,606	591	1,766
Tax %	38%	23%	38%	53%	-30%	35%	31%	35%	35%	35%	34%	35%	36%
	268	-230	-243	586	3,008	2,708	-1,789	-188	1,908	1,013	1,059	387	1,137
EPS in Rs	1.53	-1.31	-1.38	3.35	17.16	15.45	-10.21	-1.07	10.89	5.78	6.04	2.21	6.49
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	65,696	71,815	57,463	39,647	43,208	48,451	62,062	51,002	31,959	69,758	108,856	90,407
	65,393	70,808	59,551	37,859	38,493	44,139	60,382	53,524	31,251	64,814	102,329	82,711
Operating Profit	303	1,007	-2,088	1,789	4,714	4,311	1,681	-2,522	708	4,944	6,528	7,696
OPM %	0%	1%	-4%	5%	11%	9%	3%	-5%	2%	7%	6%	9%
	153	430	838	674	2,015	154	131	97	93	64	196	197
Interest	329	321	407	594	520	443	475	749	558	1,212	1,298	1,114
Depreciation	604	706	499	710	678	671	757	783	1,158	1,088	1,187	1,257
Profit before tax	-477	410	-2,156	1,158	5,531	3,351	581	-3,958	-915	2,708	4,239	5,521
Tax %	-59%	-47%	21%	1%	34%	34%	43%	31%	17%	-9%	38%	35%
	-757	601	-1,712	1,147	3,644	2,224	332	-2,740	-761	2,955	2,638	3,596
EPS in Rs	-4.32	3.43	-9.77	6.54	20.79	12.69	1.89	-15.64	-4.34	16.86	15.05	20.52
Dividend Payout %	-0%	-0%	-0%	-0%	29%	24%	53%	-0%	-0%	-0%	-0%	10%

Compounded Sales Growth
10 Years:	2%
5 Years:	8%
3 Years:	41%
TTM:	-17%

Compounded Profit Growth
10 Years:	22%
5 Years:	60%
3 Years:	89%
TTM:	36%

Stock Price CAGR
10 Years:	12%
5 Years:	30%
3 Years:	63%
1 Year:	176%

Return on Equity
10 Years:	13%
5 Years:	14%
3 Years:	36%
Last Year:	31%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	1,753	1,753	1,753	1,753	1,753	1,753	1,753	1,753	1,753	1,753	1,753	1,753
Reserves	4,715	5,316	3,552	4,679	8,318	9,280	8,974	6,014	2,485	5,444	8,082	11,499
	7,558	9,793	9,032	8,075	8,541	7,950	9,131	11,896	24,062	21,310	16,939	12,687
	12,676	22,665	20,007	22,787	7,802	7,238	7,333	6,145	6,425	11,561	8,355	9,460
Total Liabilities	26,701	39,527	34,345	37,293	26,414	26,221	27,191	25,808	34,725	40,068	35,129	35,399
	5,781	5,991	14,109	14,881	14,161	14,038	13,996	14,239	19,596	21,384	20,396	20,432
CWIP	7,554	8,552	1,378	188	220	668	982	1,730	2,343	170	475	721
Investments	15	15	1,350	1,350	1,350	1,350	1,503	2,178	16	16	16	17
	13,351	24,969	17,508	20,874	10,684	10,166	10,710	7,661	12,770	18,499	14,242	14,228
Total Assets	26,701	39,527	34,345	37,293	26,414	26,221	27,191	25,808	34,725	40,068	35,129	35,399

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	882	8,602	-576	1,376	-852	3,507	569	183	-2,818	4,496	6,364	7,045
	-2,209	-921	-1,408	359	-337	-966	-952	-1,563	-2,101	-595	-673	-1,518
	698	1,387	-1,503	-1,748	67	-2,334	-55	1,379	4,944	-3,922	-5,690	-5,524
Net Cash Flow	-629	9,068	-3,487	-13	-1,121	207	-438	-1	24	-20	1	3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	22	23	15	22	22	20	14	7	28	23	15	16
Inventory Days	38	44	22	33	40	41	36	28	90	62	25	38
Days Payable	62	109	116	221	59	40	29	23	50	55	23	33
Cash Conversion Cycle	-2	-43	-79	-166	3	20	21	12	67	29	17	21
Working Capital Days	-7	-47	-92	-164	-16	-13	10	-3	49	23	14	16
ROCE %	-1%	4%	-11%	13%	27%	20%	6%	-16%	-1%	14%	20%

Shareholding Pattern

Numbers in percentages

5 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%
	0.69%	0.56%	0.74%	0.77%	1.60%	1.57%	1.05%	1.07%	1.08%	1.54%	2.55%	2.68%
	2.67%	2.53%	2.34%	2.06%	1.55%	0.34%	0.28%	0.28%	0.70%	1.10%	1.57%	1.50%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%
	8.06%	8.33%	8.34%	8.59%	8.26%	9.51%	10.08%	10.06%	9.62%	8.76%	7.30%	7.23%
No. of Shareholders	3,53,293	3,50,389	3,55,715	3,57,011	3,77,311	3,99,820	4,04,632	4,02,051	3,93,179	3,85,945	3,69,761	4,40,569

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%
	1.80%	1.54%	1.75%	0.69%	0.74%	0.77%	1.07%	2.68%
	3.12%	3.03%	3.13%	4.29%	2.73%	2.06%	0.28%	1.50%
	0.00%	0.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	6.50%	6.27%	6.54%	6.44%	7.95%	8.59%	10.06%	7.23%
No. of Shareholders	4,26,732	3,60,999	3,32,947	3,10,887	3,33,582	3,57,011	4,02,051	4,40,569

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Mangalore Refinery And Petrochemicals Ltd

Mangalore Refinery And Petrochemicals Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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