Mangalore Refinery And Petrochemicals Ltd

₹ 214 -3.29%

09 May - close price

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 ₹ 37,585 Cr.
Current Price ₹ 214
High / Low ₹ 289 / 62.1
Stock P/E 10.4
Book Value ₹ 75.8
Dividend Yield 0.47 %
ROCE 25.2 %
ROE 31.1 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company has delivered good profit growth of 59.1% 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

Consolidated Figures in Rs. Crores / View Standalone

	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	13,268	20,409	24,815	32,290	24,608	26,557	25,365	21,173	19,230	24,667	25,329
	12,675	10,934	13,281	18,692	21,874	27,576	26,603	26,270	21,875	19,105	17,091	23,508	22,999
Operating Profit	905	285	-13	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%
	27	15	19	46	-3	45	42	53	91	54	67	45	33
Interest	210	310	268	236	394	302	315	338	330	267	311	274	262
Depreciation	293	289	289	290	220	296	297	298	296	294	296	334	333
Profit before tax	429	-299	-551	1,237	2,323	4,162	-2,566	-295	2,955	1,561	1,598	596	1,768
Tax %	37%	23%	26%	52%	-29%	35%	31%	34%	35%	35%	34%	34%	36%
	269	-229	-410	589	3,008	2,716	-1,779	-195	1,913	1,015	1,052	392	1,138
EPS in Rs	1.53	-1.31	-2.34	3.36	17.17	15.50	-10.15	-1.11	10.92	5.79	6.00	2.24	6.50
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	71,552	57,398	39,730	43,767	49,055	63,446	50,230	31,959	69,758	108,856	90,407
	70,538	59,565	38,021	38,775	44,526	60,816	53,368	31,252	64,814	102,329	82,711
Operating Profit	1,015	-2,167	1,709	4,992	4,529	2,630	-3,137	708	4,944	6,528	7,696
OPM %	1%	-4%	4%	11%	9%	4%	-6%	2%	7%	6%	9%
	432	841	674	2,015	223	130	70	90	67	213	198
Interest	323	448	1,083	969	915	1,062	1,251	558	1,212	1,298	1,114
Depreciation	707	522	1,013	984	966	1,048	1,086	1,158	1,088	1,187	1,257
Profit before tax	418	-2,295	287	5,054	2,871	651	-5,404	-919	2,711	4,256	5,523
Tax %	-45%	19%	-77%	35%	38%	46%	25%	17%	-9%	38%	35%
	606	-1,853	506	3,293	1,774	351	-4,043	-765	2,958	2,655	3,597
EPS in Rs	3.46	-10.29	4.70	19.81	11.37	1.94	-19.14	-4.36	16.88	15.15	20.52
Dividend Payout %	0%	0%	0%	30%	26%	52%	0%	0%	0%	0%	10%

Compounded Sales Growth
10 Years:	2%
5 Years:	7%
3 Years:	41%
TTM:	-17%

Compounded Profit Growth
10 Years:	21%
5 Years:	59%
3 Years:	89%
TTM:	35%

Stock Price CAGR
10 Years:	14%
5 Years:	27%
3 Years:	70%
1 Year:	246%

Return on Equity
10 Years:	11%
5 Years:	13%
3 Years:	36%
Last Year:	31%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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
Reserves	5,337	3,478	4,281	7,750	8,481	8,193	4,607	2,495	5,457	8,112	11,530
	9,840	14,702	14,395	15,477	14,921	15,618	18,482	24,062	21,310	16,939	12,687
	22,698	21,294	23,650	7,870	6,803	7,203	5,734	6,425	11,561	8,355	9,460
Total Liabilities	39,628	41,226	44,080	32,849	31,958	32,766	30,576	34,735	40,081	35,159	35,430
	5,995	21,641	21,747	20,618	20,217	20,002	20,431	19,596	21,384	20,396	20,432
CWIP	8,552	1,389	198	220	682	995	1,746	2,343	170	475	721
Investments	0	0	38	42	31	29	29	25	29	46	48
	25,081	18,197	22,097	11,969	11,028	11,740	8,369	12,770	18,499	14,242	14,228
Total Assets	39,628	41,226	44,080	32,849	31,958	32,766	30,576	34,735	40,081	35,159	35,430

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	8,597	-731	1,429	-1,108	3,972	1,640	289	-2,818	4,496	6,364	7,045
	-919	-94	303	-265	-981	-1,080	-1,449	-2,101	-595	-673	-1,518
	1,419	-2,672	-1,744	265	-2,796	-996	1,157	4,944	-3,922	-5,690	-5,524
Net Cash Flow	9,097	-3,497	-12	-1,109	194	-436	-3	24	-20	1	3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	23	14	19	22	19	14	7	28	23	15	16
Inventory Days	44	24	36	44	45	39	30	90	62	25	38
Days Payable	110	116	223	60	41	29	24	50	55	23	33
Cash Conversion Cycle	-43	-78	-168	6	23	24	14	67	29	17	21
Working Capital Days	-47	-94	-168	-14	-16	-1	-7	49	23	14	16
ROCE %		-10%	7%	19%	15%	7%	-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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