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MRPL

₹210.5 -3.9 | 1.8%

Market Cap ₹36892 Cr.

Stock P/E 10.3

P/B 2.8

Current Price ₹210.5

Book Value ₹ 75.8

Face Value 10

52W High ₹289.3

Dividend Yield 1.43%

52W Low ₹ 62.1

Overview Inc. Year: 1988Industry: Refineries

Mangalore Refinery and Petrochemicals Ltd manufactures and sells refined petroleum products in India. The corporation produces and sells bitumen, furnace oil, high speed diesel, xylol, naphtha pet coke, sulphur, and motor gasoline, as well as polypropylene and other products. The company was established in 1988 and is primarily based in Mangalore, India. Mangalore Refinery and Petrochemicals Ltd is a subsidiary of Oil and Natural Gas Corporation Ltd.

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MRPL Share Price

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Peer Comparison

MRPL Quarterly Results

#(Fig in Cr.) Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Net Sales 25033 28239 35915 28453 30966 29401 24833 22844 28383 29190
Other Income 43 23 37 25 42 86 52 61 40 39
Total Income 25076 28262 35952 28478 31008 29488 24884 22905 28423 29229
Total Expenditure 23316 25298 31202 30448 30679 25911 22764 20706 27224 26860
Operating Profit 1760 2964 4751 -1970 330 3576 2120 2199 1199 2369
Interest 236 394 302 315 338 330 267 311 274 262
Depreciation 290 220 296 297 298 296 294 296 334 333
Exceptional Income / Expenses 0 -30 0 0 3 0 0 0 0 -8
Profit Before Tax 1235 2319 4153 -2582 -303 2950 1559 1592 591 1766
Provision for Tax 648 -685 1445 -786 -101 1042 546 546 204 629
Profit After Tax 586 3004 2708 -1796 -203 1908 1013 1046 387 1137
Adjustments 3 4 9 17 8 5 2 6 5 2
Profit After Adjustments 589 3008 2716 -1779 -195 1913 1015 1052 392 1139
Adjusted Earnings Per Share 3.4 17.2 15.5 -10.2 -1.1 10.9 5.8 6 2.2 6.5

MRPL Profit & Loss

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 71552 57398 39730 43767 49055 63446 50230 31959 69758 108856 105250
Other Income 324 809 856 419 274 154 82 497 98 190 192
Total Income 71876 58208 40586 44185 49329 63600 50312 32456 69856 109046 105441
Total Expenditure 70541 59566 38022 38781 44551 60825 53381 31376 64822 102347 97554
Operating Profit 1335 -1359 2564 5405 4778 2775 -3068 1080 5034 6699 7887
Interest 323 448 1083 969 915 1062 1251 841 1212 1298 1114
Depreciation 707 522 1013 984 966 1048 1086 1158 1088 1187 1257
Exceptional Income / Expenses 112 33 -183 1597 -26 -15 0 0 -30 3 -8
Profit Before Tax 418 -2295 287 5054 2871 651 -5404 -919 2711 4256 5508
Provision for Tax -188 -442 -219 1761 1098 300 -1361 -154 -247 1600 1925
Profit After Tax 606 -1853 506 3293 1774 351 -4043 -765 2958 2655 3583
Adjustments 0 50 318 179 219 -11 688 0 0 0 15
Profit After Adjustments 606 -1803 824 3473 1993 340 -3355 -765 2958 2655 3598
Adjusted Earnings Per Share 3.5 -10.3 4.7 19.8 11.4 1.9 -19.1 -4.4 16.9 15.2 20.5

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 56% 29% 17% 0%
Operating Profit CAGR 33% 0% 7% 0%
PAT CAGR -10% 0% 8% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 239% 69% 27% 14%
ROE Average 31% 23% 4% 7%
ROCE Average 20% 11% 5% 7%

MRPL Balance Sheet

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 7090 5231 6034 9502 10233 9946 6360 4248 7209 9865
Minority's Interest 0 660 552 373 154 300 -132 0 0 0
Borrowings 8854 11749 8952 8591 4479 3936 13226 15699 14216 12418
Other Non-Current Liabilities 519 132 2468 4227 4991 5885 298 149 -573 904
Total Current Liabilities 23156 23445 28488 14308 17285 18028 10535 14202 18561 12917
Total Liabilities 39618 41217 46494 37001 37142 38094 30287 34299 39414 36103
Fixed Assets 5995 21641 21747 20618 20209 19995 20424 19589 21376 20388
Other Non-Current Assets 9095 2169 4605 6339 7238 8055 3792 4348 2013 2932
Total Current Assets 24529 17408 20134 10036 9695 10045 6072 10362 16025 12783
Total Assets 39618 41217 46494 37001 37142 38094 30287 34299 39414 36103

MRPL Cash Flow

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 1606 10703 1367 1355 246 440 5 2 26 6
Cash Flow from Operating Activities 8597 -731 1429 -1108 3972 1640 289 -2818 4496 6364
Cash Flow from Investing Activities -919 -406 303 -265 -981 -1080 -1449 -2101 -595 -673
Cash Flow from Financing Activities 1419 -2672 -1744 265 -2796 -996 1157 4944 -3922 -5690
Net Cash Inflow / Outflow 9097 -3809 -12 -1109 194 -436 -3 24 -20 1
Closing Cash & Cash Equivalent 10703 7206 1355 246 440 5 2 26 6 7

MRPL Ratios

# Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 3.46 -10.29 4.7 19.81 11.37 1.94 -19.14 -4.36 16.88 15.15
CEPS(Rs) 7.49 -7.6 8.67 24.41 15.63 7.98 -16.87 2.24 23.09 21.92
DPS(Rs) 0 0 0 6 3 1 0 0 0 0
Book NAV/Share(Rs) 40.45 29.85 34.43 54.22 58.39 56.75 36.29 24.24 41.13 56.28
Core EBITDA Margin(%) 1.35 -3.48 3.35 8.31 7.07 3.56 -5.25 1.15 5.73 5.22
EBIT Margin(%) 0.99 -2.96 2.69 10.04 5.95 2.32 -6.92 -0.15 4.56 4.45
Pre Tax Margin(%) 0.56 -3.68 0.56 8.42 4.51 0.88 -9.01 -1.81 3.15 3.41
PAT Margin (%) 0.81 -2.97 0.99 5.49 2.78 0.48 -6.74 -1.51 3.44 2.13
Cash Profit Margin (%) 1.75 -2.13 2.98 7.13 4.3 1.9 -4.93 0.77 4.7 3.08
ROA(%) 1.53 -4.58 1.15 7.89 4.78 0.93 -11.82 -2.37 8.03 7.03
ROE(%) 8.55 -30.08 8.98 42.39 17.97 3.48 -49.58 -14.42 51.64 31.11
ROCE(%) 4.37 -10.02 6.79 26.53 15.11 6.75 -16.48 -0.29 13.92 20.25
Receivable days 22.06 19.85 15.49 14.28 14.89 12.26 10.32 12.46 14.37 12.87
Inventory Days 41.16 35.82 25.66 23.72 27.67 28.6 32.07 40.72 37.29 25.26
Payable days 109.91 124.37 206.9 135.29 46.63 29.48 28.79 45.28 39.29 28.81
PER(x) 13.75 0 14.27 5.38 9.63 38.4 0 0 2.46 3.47
Price/Book(x) 1.18 2.25 1.95 1.97 1.88 1.31 0.64 1.6 1.01 0.93
Dividend Yield(%) 0 0 0 5.63 2.74 1.34 0 0 0 0
EV/Net Sales(x) 0.1 0.28 0.31 0.73 0.68 0.44 0.45 0.96 0.41 0.24
EV/Core EBITDA(x) 5.58 -11.9 4.81 5.93 6.96 10.16 -7.33 28.31 5.63 3.86
Net Sales Growth(%) 0 -19.78 -30.78 10.16 12.08 29.34 -20.83 -36.38 118.27 56.05
EBIT Growth(%) 0 -349.47 174.18 339.61 -37.13 -54.76 -342.45 98.13 5145.32 41.56
PAT Growth(%) 0 -405.7 127.3 551.13 -46.14 -80.19 -1250.86 81.08 486.72 -10.24
EPS Growth(%) 0 -397.52 145.68 321.58 -42.62 -82.94 -1086.54 77.2 486.71 -10.24
Debt/Equity(x) 1.39 2.81 2.39 1.63 1.46 1.57 2.91 5.61 2.92 1.69
Current Ratio(x) 1.06 0.74 0.71 0.7 0.56 0.56 0.58 0.73 0.86 0.99
Quick Ratio(x) 0.69 0.58 0.59 0.39 0.26 0.21 0.17 0.23 0.3 0.46
Interest Cover(x) 2.29 -4.12 1.26 6.22 4.14 1.61 -3.32 -0.09 3.24 4.28
Total Debt/Mcap(x) 1.18 1.25 1.22 0.83 0.78 1.2 4.57 3.5 2.9 1.81

MRPL Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 88.58 88.58 88.58 88.58 88.58 88.58 88.58 88.58 88.58 88.58
FII 0.74 0.77 1.6 1.57 1.05 1.07 1.08 1.54 2.55 2.68
DII 2.33 2.06 1.56 0.35 0.29 0.29 0.71 1.11 1.57 1.5
Public 8.34 8.59 8.26 9.5 10.07 10.06 9.63 8.76 7.3 7.23
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 23%
  • Debtor days have improved from 39.29 to 28.81days.
  • Company has reduced debt.

Cons

  • The company has delivered a poor profit growth of 8% over past five years.

* 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.

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