Mangalore Refinery And Petrochemicals Ltd

Mangalore Refinery And Petrochemicals Ltd

₹ 215 -0.99%
14 Jun 4:01 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]

  • Market Cap 37,726 Cr.
  • Current Price 215
  • High / Low 289 / 67.1
  • Stock P/E 10.5
  • Book Value 75.6
  • Dividend Yield 0.46 %
  • ROCE 25.2 %
  • ROE 31.2 %
  • Face Value 10.0

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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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
Raw PDF

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: 13%
5 Years: 30%
3 Years: 58%
1 Year: 225%
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 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 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 3,53,2933,50,3893,55,7153,57,0113,77,3113,99,8204,04,6324,02,0513,93,1793,85,9453,69,7614,40,569

* 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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