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MRPL

₹145.8 -2.9 | 2%

Market Cap ₹25553 Cr.

Stock P/E 7.1

P/B 2.1

Current Price ₹145.8

Book Value ₹ 70.1

Face Value 10

52W High ₹289.3

Dividend Yield 2.06%

52W Low ₹ 128.2

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.) Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018
Net Sales 18109 14495 12416 17420 18753
Other Income 342 56 83 20 462
Total Income 18451 14551 12499 17440 19215
Total Expenditure 16860 13943 11508 15671 18094
Operating Profit 1591 607 991 1769 1121
Interest 122 107 105 116 112
Depreciation 170 168 170 172 162
Exceptional Income / Expenses 1597 0 -26 0 0
Profit Before Tax 2897 332 690 1481 848
Provision for Tax 954 98 212 511 306
Profit After Tax 1942 234 478 970 542
Adjustments -1942 -234 -478 -970 -542
Profit After Adjustments 0 0 0 0 0
Adjusted Earnings Per Share 11.1 1.3 2.7 5.5 3.1

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 Mar 2024 TTM
Net Sales 71815 57463 39647 43208 48451 62062 51002 31959 69758 109026 90407 63084
Other Income 321 806 857 423 217 155 105 501 103 212 205 621
Total Income 72136 58268 40505 43631 48668 62217 51107 32460 69861 109238 90612 63705
Total Expenditure 70810 59552 37859 38499 44177 60391 53532 31376 64822 102517 82706 59216
Operating Profit 1326 -1284 2645 5132 4491 1827 -2425 1084 5038 6721 7906 4488
Interest 321 407 594 520 443 475 749 841 1212 1298 1119 440
Depreciation 706 499 710 678 671 757 783 1158 1088 1187 1257 672
Exceptional Income / Expenses 112 33 -183 1597 -26 -15 0 0 -30 3 -8 -26
Profit Before Tax 410 -2156 1158 5531 3351 581 -3957 -915 2708 4239 5521 3351
Provision for Tax -191 -444 11 1888 1127 249 -1217 -154 -247 1600 1925 1127
Profit After Tax 601 -1712 1147 3644 2224 332 -2740 -761 2955 2638 3596 2224
Adjustments 0 0 0 0 0 0 0 0 0 0 0 -2224
Profit After Adjustments 601 -1712 1147 3644 2224 332 -2740 -761 2955 2638 3596 0
Adjusted Earnings Per Share 3.4 -9.8 6.5 20.8 12.7 1.9 -15.6 -4.3 16.9 15.1 20.5 12.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -17% 41% 8% 2%
Operating Profit CAGR 18% 94% 34% 20%
PAT CAGR 36% 0% 61% 20%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 12% 52% 29% 12%
ROE Average 31% 38% 14% 13%
ROCE Average 25% 20% 9% 10%

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 Mar 2024
Shareholder's Funds 7069 5305 6431 10070 11033 10727 7767 4238 7196 9835 13251
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 8854 7865 6806 4816 1499 3221 7952 15699 14216 12418 8912
Other Non-Current Liabilities 519 35 3124 5008 5801 6638 1587 149 -573 904 2786
Total Current Liabilities 23076 21131 24006 10982 13072 11934 9125 14202 18561 12917 13265
Total Liabilities 39518 34336 40368 30876 31406 32519 26430 34289 39401 36073 38215
Fixed Assets 5991 14109 14881 14161 14031 13988 14231 19589 21376 20388 20402
Other Non-Current Assets 9110 3347 5578 7316 8225 9207 5921 4338 2000 2903 4186
Total Current Assets 24417 16880 19901 9392 9150 9324 6278 10362 16025 12783 13618
Total Assets 39518 34336 40368 30876 31406 32519 26430 34289 39401 36073 38215

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 Mar 2024
Opening Cash & Cash Equivalents 1588 10656 1367 1354 233 440 3 2 26 6 7
Cash Flow from Operating Activities 8602 -576 1376 -852 3507 569 183 -2818 4496 6364 7045
Cash Flow from Investing Activities -921 -1408 359 -337 -966 -952 -1563 -2101 -595 -673 -1518
Cash Flow from Financing Activities 1387 -1503 -1748 67 -2334 -55 1379 4944 -3922 -5690 -5524
Net Cash Inflow / Outflow 9068 -3487 -13 -1121 207 -438 -1 24 -20 1 3
Closing Cash & Cash Equivalent 10656 7169 1354 233 440 3 2 26 6 7 10

MRPL Ratios

# Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) 3.43 -9.77 6.54 20.79 12.69 1.89 -15.64 -4.34 16.86 15.05 20.52
CEPS(Rs) 7.46 -6.92 10.6 24.66 16.52 6.21 -11.17 2.26 23.07 21.83 27.69
DPS(Rs) 0 0 0 6 3 1 0 0 0 0 3
Book NAV/Share(Rs) 40.33 30.27 36.7 57.46 62.95 61.21 44.32 24.18 41.06 56.11 75.61
Core EBITDA Margin(%) 1.34 -3.35 3.51 7.92 6.77 2.31 -4.17 1.15 5.73 5.22 7.32
EBIT Margin(%) 0.97 -2.8 3.44 10.18 6.01 1.46 -5.28 -0.15 4.55 4.44 6.31
Pre Tax Margin(%) 0.54 -3.45 2.28 9.31 5.31 0.8 -6.51 -1.8 3.15 3.4 5.25
PAT Margin (%) 0.8 -2.74 2.25 6.13 3.53 0.46 -4.51 -1.5 3.43 2.12 3.42
Cash Profit Margin (%) 1.74 -1.94 3.65 7.27 4.59 1.51 -3.22 0.78 4.7 3.07 4.61
ROA(%) 1.82 -4.64 3.07 10.23 7.14 1.04 -9.3 -2.51 8.02 6.99 9.68
ROE(%) 8.88 -27.68 19.55 44.16 21.08 3.05 -29.64 -12.68 51.69 30.98 31.15
ROCE(%) 4.73 -11.21 12.15 36.54 20.18 5.43 -16.24 -0.31 13.91 20.2 25.42
Receivable days 20.51 20 17.05 15.4 15.28 12.58 10.11 12.55 14.37 12.87 14.45
Inventory Days 36.79 34.64 23.66 22.22 25.38 26.61 29.14 39.5 37.29 25.26 26.16
Payable days 83.17 123.98 204.55 134.53 46.03 29.27 28.39 45.25 39.29 28.76 30.61
PER(x) 13.86 0 10.25 5.13 8.63 39.33 0 0 2.46 3.49 10.66
Price/Book(x) 1.18 2.22 1.83 1.86 1.74 1.22 0.52 1.6 1.01 0.94 2.89
Dividend Yield(%) 0 0 0 5.63 2.74 1.34 0 0 0 0 1.37
EV/Net Sales(x) 0.1 0.18 0.15 0.58 0.54 0.35 0.31 0.96 0.41 0.24 0.56
EV/Core EBITDA(x) 5.62 -8.21 2.31 4.89 5.86 11.88 -6.56 28.21 5.62 3.85 6.42
Net Sales Growth(%) 9.31 -19.99 -31 8.98 12.13 28.09 -17.82 -37.34 118.27 56.29 -17.08
EBIT Growth(%) 593.04 -339.19 200.18 245.41 -37.31 -72.18 -404.03 97.69 5400.66 41.24 19.93
PAT Growth(%) 179.43 -384.81 166.98 217.69 -38.96 -85.07 -925.51 72.22 488.26 -10.72 36.29
EPS Growth(%) 179.42 -384.81 166.98 217.69 -38.96 -85.07 -925.51 72.22 488.25 -10.72 36.29
Debt/Equity(x) 1.39 1.7 1.26 0.85 0.72 0.85 1.53 5.62 2.93 1.7 0.94
Current Ratio(x) 1.06 0.8 0.83 0.86 0.7 0.78 0.69 0.73 0.86 0.99 1.03
Quick Ratio(x) 0.69 0.64 0.7 0.49 0.34 0.29 0.26 0.23 0.3 0.47 0.4
Interest Cover(x) 2.27 -4.3 2.95 11.64 8.57 2.22 -4.28 -0.09 3.23 4.27 5.93
Total Debt/Mcap(x) 1.18 0.77 0.69 0.46 0.41 0.7 2.94 3.5 2.9 1.81 0.32

MRPL Shareholding Pattern

# Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Promoter 88.58 88.58 88.58 88.58 88.58 88.58 88.58 88.58 88.58 88.58
FII 1.6 1.57 1.05 1.07 1.08 1.54 2.55 2.68 2.27 1.7
DII 1.56 0.35 0.29 0.29 0.71 1.11 1.57 1.5 1.51 1.49
Public 8.26 9.5 10.07 10.06 9.63 8.76 7.3 7.23 7.64 8.23
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 delivered good profit growth of 61% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 38%
  • Company has reduced debt.

Cons

  • Debtor days have increased from 28.76 to 30.61days.

* 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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