Mangalore Refinery And Petrochemicals Ltd

₹ 162 -2.22%

23 Oct - 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
1.Retail: The company entered the Retail fuel service stations business under the brand ‘HiQ’. As of FY24, it has a network of 101 retail outlets across Karnataka and Kerala. ^[1] ^[2]

In FY24, the total retail sales volume in the domestic market was 2.6 MMT with a sales value of Rs. ~15,400 Cr vs 1.9 MMT with a sales value of Rs. ~11,000 Cr in FY22. ^[2] ^[3]

Website BSE NSE

Market Cap ₹ 28,436 Cr.
Current Price ₹ 162
High / Low ₹ 215 / 136
Stock P/E 6.86
Book Value ₹ 97.2
Dividend Yield 2.47 %
ROCE 18.0 %
ROE 14.5 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is expected to give good quarter

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

Energy Oil, Gas & Consumable Fuels Petroleum Products Refineries & Marketing

Part of BSE 500 BSE PSU Nifty 500 Nifty Smallcap 100 BSE Energy BSE 250 SmallCap Index BSE 400 MidSmallCap Index Nifty 500 Multicap 50:25:25 Nifty Smallcap 250 Nifty MidSmallcap 400 Nifty Total Market BSE Power & Energy Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted BSE 1000 Nifty India Railways PSU Nifty Smallcap 500 Nifty MidSmallcap400 50:50

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	19,353	24,667	25,329	23,247	24,968	21,871	24,596	17,356	22,649	24,712	23,950	38,254	32,516
	17,215	23,508	22,990	22,641	25,442	20,840	23,466	17,177	21,160	21,927	22,169	36,937	29,237
Operating Profit	2,138	1,159	2,339	606	-474	1,031	1,130	180	1,488	2,785	1,781	1,318	3,279
OPM %	11%	4.7%	9%	2.6%	-1.9%	4.7%	4.6%	1.0%	7%	11%	7%	3.4%	10%
	67	45	23	52	45	38	45	39	65	45	59	574	-49
Interest	311	274	262	214	285	264	245	257	219	219	212	244	284
Depreciation	296	334	333	335	342	332	338	363	371	391	395	401	407
Profit before tax	1,598	596	1,768	108	-1,056	474	592	-402	963	2,220	1,233	1,246	2,539
Tax %	34%	34%	36%	32%	-34%	35%	37%	-33%	35%	35%	91%	24%	25%
	1,052	392	1,138	73	-697	309	371	-271	627	1,451	117	946	1,901
EPS in Rs	6.00	2.24	6.50	0.42	-3.98	1.76	2.11	-1.54	3.58	8.28	0.67	5.40	10.85
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	57,398	39,730	43,767	49,055	63,446	50,230	31,959	69,758	109,026	90,407	94,684	88,667	119,432
	59,565	38,021	38,775	44,526	60,816	53,368	31,252	64,814	102,498	82,550	92,378	82,338	110,270
Operating Profit	-2,167	1,709	4,992	4,529	2,630	-3,137	708	4,944	6,528	7,857	2,306	6,330	9,162
OPM %	-3.8%	4.3%	11%	9%	4.2%	-6%	2.2%	7%	6%	9%	2.4%	7%	8%
	841	674	2,015	223	130	70	90	67	213	42	176	117	628
Interest	448	1,083	969	915	1,062	1,251	558	1,212	1,298	1,119	1,016	912	959
Depreciation	522	1,013	984	966	1,048	1,086	1,158	1,088	1,187	1,257	1,347	1,520	1,594
Profit before tax	-2,295	287	5,054	2,871	651	-5,404	-919	2,711	4,256	5,523	119	4,015	7,238
Tax %	-19%	-77%	35%	38%	46%	-25%	-17%	-9%	38%	35%	53%	52%
	-1,853	506	3,293	1,774	351	-4,043	-765	2,958	2,655	3,597	56	1,925	4,414
EPS in Rs	-10.29	4.70	19.81	11.37	1.94	-19.14	-4.36	16.88	15.15	20.52	0.32	10.98	25.20
Dividend Payout %	0%	0%	30%	26%	52%	0%	0%	0%	0%	15%	0%	36%

Compounded Sales Growth
10 Years:	8%
5 Years:	23%
3 Years:	-7%
TTM:	38%

Compounded Profit Growth
10 Years:	9%
5 Years:	36%
3 Years:	-10%
TTM:	300%

Stock Price CAGR
10 Years:	6%
5 Years:	26%
3 Years:	19%
1 Year:	12%

Return on Equity
10 Years:	13%
5 Years:	22%
3 Years:	15%
Last Year:	14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
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	3,478	4,281	7,750	8,481	8,193	4,607	2,495	5,457	8,112	11,530	11,217	12,444	15,286
	14,702	14,395	15,477	14,921	15,618	18,482	24,062	21,310	16,939	12,687	13,143	15,341	10,204
	21,294	23,650	7,870	6,803	7,203	5,734	6,425	11,561	8,410	9,467	8,329	14,950	20,334
Total Liabilities	41,226	44,080	32,849	31,958	32,766	30,576	34,735	40,081	35,214	35,437	34,442	44,488	47,576
	21,641	21,747	20,618	20,217	20,002	20,431	19,596	21,384	20,396	20,410	20,095	20,451	19,840
CWIP	1,389	198	220	682	995	1,746	2,343	170	475	744	729	897	931
Investments	0	38	42	31	29	29	25	29	46	48	55	50	95
	18,197	22,097	11,969	11,028	11,740	8,369	12,770	18,499	14,297	14,234	13,562	23,090	26,709
Total Assets	41,226	44,080	32,849	31,958	32,766	30,576	34,735	40,081	35,214	35,437	34,442	44,488	47,576

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-731	1,429	-1,108	3,972	1,640	289	-2,818	4,496	6,364	7,051	1,878	2,531
	-94	303	-265	-981	-1,080	-1,449	-2,101	-595	-673	-1,524	-940	-1,378
	-2,672	-1,744	265	-2,796	-996	1,157	4,944	-3,922	-5,690	-5,524	-938	-598
Net Cash Flow	-3,497	-12	-1,109	194	-436	-3	24	-20	1	3	0	554
Free Cash Flow	-1,900	979	-1,900	2,901	449	-1,204	-3,716	3,885	5,662	5,509	918	1,120
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	30%	107%	-2%	103%	66%	-12%	-400%	96%	109%	102%	85%	51%

Ratios

Consolidated / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	14	19	22	19	14	7	28	23	15	16	14	25
Inventory Days	24	36	44	45	39	30	90	62	25	38	32	67
Days Payable	116	223	60	41	29	24	50	55	23	33	24	52
Cash Conversion Cycle	-78	-168	6	23	24	14	67	29	17	21	21	41
Working Capital Days	-104	-203	-53	-63	-49	-33	-44	-13	-1	1	-1	9
ROCE %	-10%	7%	19%	15%	7%	-16%	-1%	14%	20%	26%	4%	18%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

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Mar 2026

Crude Throughput
Million Metric Tonnes (MMT)

	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx			xx.xx	xx.xx	xx.xx	xx.xx
	xxx.xx				xx.xx	xx.xx		xxx.xx	xxx.xx	xxx.xx	xxx.xx
	x		x	x	x				xxx	xxx	xxx
							xx.xx		xx.xx	xx.xx	xx.xx
xx.xx	xx.xx								xx.xx	xx.xx
						xx.xx				xx.xx	xx.xx

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Refinery Capacity Utilization
%

Retail Outlets (HiQ)
Number

Distillate Yield
%

Fuel and Loss
%

Export Share of Revenue
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%	88.58%
	2.55%	2.68%	2.26%	1.69%	1.36%	1.31%	1.30%	1.22%	2.05%	3.41%	2.17%	2.45%
	1.57%	1.50%	1.50%	1.48%	1.66%	1.32%	1.38%	1.45%	1.05%	0.34%	0.39%	0.53%
	7.30%	7.23%	7.64%	8.23%	8.38%	8.80%	8.75%	8.76%	8.32%	7.67%	8.86%	8.42%
No. of Shareholders	3,69,761	4,40,569	4,67,875	5,14,267	5,14,730	5,35,236	5,21,003	5,11,428	4,74,143	4,66,296	4,81,301	4,71,189

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	88.58%	88.58%	88.58%	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%	1.31%	3.41%	2.45%
	3.12%	3.03%	3.13%	4.29%	2.73%	2.06%	0.28%	1.50%	1.32%	0.34%	0.53%
	0.00%	0.57%	0.00%	0.00%	0.00%	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%	8.80%	7.67%	8.42%
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	5,35,236	4,66,296	4,71,189

* 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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