Mangalore Refinery And Petrochemicals Ltd
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]
- Market Cap ₹ 43,982 Cr.
- Current Price ₹ 251
- High / Low ₹ 289 / 60.2
- Stock P/E 10.1
- Book Value ₹ 67.9
- Dividend Yield 0.40 %
- ROCE 20.1 %
- ROE 31.1 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company's working capital requirements have reduced from 28.4 days to 13.9 days
Cons
- Stock is trading at 3.69 times its book value
- 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
53,770 | 65,696 | 71,815 | 57,463 | 39,647 | 43,208 | 48,451 | 62,062 | 51,002 | 31,959 | 69,758 | 108,856 | 90,481 | |
52,156 | 65,393 | 70,808 | 59,551 | 37,859 | 38,493 | 44,139 | 60,382 | 53,524 | 31,251 | 64,814 | 102,329 | 81,624 | |
Operating Profit | 1,615 | 303 | 1,007 | -2,088 | 1,789 | 4,714 | 4,311 | 1,681 | -2,522 | 708 | 4,944 | 6,528 | 8,856 |
OPM % | 3% | 0% | 1% | -4% | 5% | 11% | 9% | 3% | -5% | 2% | 7% | 6% | 10% |
346 | 153 | 430 | 838 | 674 | 2,015 | 154 | 131 | 97 | 93 | 64 | 196 | 252 | |
Interest | 207 | 329 | 321 | 407 | 594 | 520 | 443 | 475 | 749 | 558 | 1,212 | 1,298 | 1,182 |
Depreciation | 434 | 604 | 706 | 499 | 710 | 678 | 671 | 757 | 783 | 1,158 | 1,088 | 1,187 | 1,220 |
Profit before tax | 1,320 | -477 | 410 | -2,156 | 1,158 | 5,531 | 3,351 | 581 | -3,958 | -915 | 2,708 | 4,239 | 6,706 |
Tax % | 31% | -59% | -47% | 21% | 1% | 34% | 34% | 43% | 31% | 17% | -9% | 38% | |
909 | -757 | 601 | -1,712 | 1,147 | 3,644 | 2,224 | 332 | -2,740 | -761 | 2,955 | 2,638 | 4,367 | |
EPS in Rs | 5.18 | -4.32 | 3.43 | -9.77 | 6.54 | 20.79 | 12.69 | 1.89 | -15.64 | -4.34 | 16.86 | 15.05 | 24.92 |
Dividend Payout % | 19% | 0% | 0% | 0% | 0% | 29% | 24% | 53% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 5% |
5 Years: | 18% |
3 Years: | 29% |
TTM: | -16% |
Compounded Profit Growth | |
---|---|
10 Years: | 18% |
5 Years: | 3% |
3 Years: | 44% |
TTM: | 16% |
Stock Price CAGR | |
---|---|
10 Years: | 15% |
5 Years: | 29% |
3 Years: | 88% |
1 Year: | 291% |
Return on Equity | |
---|---|
10 Years: | 10% |
5 Years: | 6% |
3 Years: | 24% |
Last Year: | 31% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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 | 1,753 |
Reserves | 5,472 | 4,715 | 5,316 | 3,552 | 4,679 | 8,318 | 9,280 | 8,974 | 6,014 | 2,485 | 5,444 | 8,082 | 10,154 |
Preference Capital | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
6,183 | 7,558 | 9,793 | 9,032 | 8,075 | 8,541 | 7,950 | 9,131 | 11,896 | 24,062 | 21,310 | 16,939 | 14,207 | |
12,747 | 12,676 | 22,665 | 20,007 | 22,787 | 7,802 | 7,238 | 7,333 | 6,145 | 6,425 | 11,561 | 8,355 | 9,454 | |
Total Liabilities | 26,155 | 26,701 | 39,527 | 34,345 | 37,293 | 26,414 | 26,221 | 27,191 | 25,808 | 34,725 | 40,068 | 35,129 | 35,568 |
4,052 | 5,781 | 5,991 | 14,109 | 14,881 | 14,161 | 14,038 | 13,996 | 14,239 | 19,596 | 21,384 | 20,396 | 20,261 | |
CWIP | 7,089 | 7,554 | 8,552 | 1,378 | 188 | 220 | 668 | 982 | 1,730 | 2,343 | 170 | 475 | 678 |
Investments | 42 | 15 | 15 | 1,350 | 1,350 | 1,350 | 1,350 | 1,503 | 2,178 | 16 | 16 | 16 | 16 |
14,971 | 13,351 | 24,969 | 17,508 | 20,874 | 10,684 | 10,166 | 10,710 | 7,661 | 12,770 | 18,499 | 14,242 | 14,613 | |
Total Assets | 26,155 | 26,701 | 39,527 | 34,345 | 37,293 | 26,414 | 26,221 | 27,191 | 25,808 | 34,725 | 40,068 | 35,129 | 35,568 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
276 | 882 | 8,602 | -576 | 1,376 | -852 | 3,507 | 569 | 183 | -2,818 | 4,496 | 6,364 | |
-3,886 | -2,209 | -921 | -1,408 | 359 | -337 | -966 | -952 | -1,563 | -2,101 | -595 | -673 | |
4,158 | 698 | 1,387 | -1,503 | -1,748 | 67 | -2,334 | -55 | 1,379 | 4,944 | -3,922 | -5,690 | |
Net Cash Flow | 547 | -629 | 9,068 | -3,487 | -13 | -1,121 | 207 | -438 | -1 | 24 | -20 | 1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 23 | 22 | 23 | 15 | 22 | 22 | 20 | 14 | 7 | 28 | 23 | 15 |
Inventory Days | 56 | 38 | 44 | 22 | 33 | 40 | 41 | 36 | 28 | 90 | 62 | 25 |
Days Payable | 79 | 62 | 109 | 116 | 221 | 59 | 40 | 29 | 23 | 50 | 55 | 23 |
Cash Conversion Cycle | -0 | -2 | -43 | -79 | -166 | 3 | 20 | 21 | 12 | 67 | 29 | 17 |
Working Capital Days | -6 | -7 | -47 | -92 | -164 | -16 | -13 | 10 | -3 | 49 | 23 | 14 |
ROCE % | 15% | -1% | 4% | -11% | 13% | 27% | 20% | 6% | -16% | -1% | 14% | 20% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
23 Apr - Of Conference Call with Analyst and Investor Meet post the declaration of Audited Results for Q4 FY 2023-24.
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 23 Apr
- Compliances-Reg. 50 (1) - Prior intimation about Board meeting under Regulation 50(1) 22 Apr
- Board Meeting Intimation for Notice Of Board Meeting For Considering Audited Financial Results For The Quarter And Year Ended March 31, 2024. 22 Apr
- Compliance Certificate For The Year Ended March 31, 2024 10 Apr
Annual reports
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Financial Year 2023
from bse
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
from nse
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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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]