Mangalore Refinery and Petrochemicals Ltd. (MRPL) is a Miniratna Central Public Sector Enterprise (CPSE). The company, with its parent company Oil and Natural Gas Corporation Ltd. (ONGC), operates and owns the ONGC Mangalore Petrochemicals Ltd. (OMPL). The refinery is located in Mangalore, Karnataka. The stocks of the company are available for trading in both the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE).
The Mangalore Refinery and Petrochemicals Ltd. market capitalization, as of 16 August 2018, is little more than Rs.14,100 crore.
Company’s Wealth and Recent Performance
- For the financial year ending 31 March 2018, the company’s standalone net sales or income from operations stood at Rs.48,450.58 crore compared to Rs.43,192.44 crore reported for the fiscal ending in 2017.
- In the quarter ending in March 2018, the company reported a 72% drop in its standalone net profit to Rs.542.08 crore as against to Rs.1,942. 42 crore in the same period last year.
- MRPL said it posted the net profit after considering Rs.162 crore as depreciation, Rs.112 crore as interest cost and a net foreign exchange loss of Rs.147 crore during the said quarter.
- During the same quarter, the company reported a turnover of Rs.18,746 crore, up by 4% compared to Rs.18,100 crore for the quarter in review, last year.
- The company’s revenue increased by 31% to Rs.5,128 crore in the March quarter of 2017-18 compared to Rs.3,913 crore during the same period last fiscal.
- The company’s net profit stood at Rs.2,224 crore, post considering Rs.671 crore as depreciation, Rs.13 crore as net foreign exchange gain and Rs.440 crore as interest cost, compared to profit after tax of Rs.3,644 crore during the said period last year.
- MRPL has achieved a highest-ever output of 16.31MMT for the fiscal year ending on March 2018 as against 16.77 MMT
Mangalore Refinery and Petrochemicals Ltd. Stock Trend in 2018
- When the stock market opened for trading on the 1st of January 2018, the stock price of Mangalore Refinery and Petrochemicals Ltd. stood at Rs.127.15 and moved upwards to close the month at Rs.128.95.
- On the 1st of February, the stock price stood at Rs.129.05 and fluctuated over the course of the month to end at Rs.119.25.
- The stock price on the 1st of March was available for trading at Rs.118.70 and declined over the course of the month to close more than 10 points lower on the last day of the month.
- When markets opened on the 2nd of April, the stock price stood at Rs.110.04 which declined to trade at Rs.105.35 on the 19th before closed the month at Rs.108.05.
- On the 2nd of May, the stock price stood at Rs.108.05 and remained stable until the 15th before it started to decline to close at Rs.92.80 on the last day.
- On the 1st of June, the stock opened for trading at Rs.93.30 and gained to Rs.95.70 on the 8th before moved downwards to close at Rs.81.05.
Mangalore Refinery and Petrochemicals Ltd. Stock Trend in 2016 and 2017
- On the 1st of January 2016, the stock price of Mangalore Refinery and Petrochemicals Ltd. opened for trading at Rs.68.00 and fluctuated over the course of the month, but declined to close at Rs.65.25. On the 1st of February, the company’s stock price stood at Rs.64.80 and dropped to Rs.56.05 on the 11th before recovering to end at Rs.57.60. On the 1st of March, the price of the stock stood at Rs.59.85 and gained significantly towards the end of the month to close at Rs.67.40.
- On the 1st of April, the stock opened for trading at Rs.66.80 and fluctuated during the course of the month to end at Rs.67.60. When the market opened on the 2nd of May for trading, the stock opened at Rs.69.40; despite the fluctuation, the stock ended nearly 3 points lower by the end of the month. On the 1st of June, the stock opened at Rs.68.05 and ended the month at Rs.68.00.
- On the 1st of July, the stock price closed at Rs.67.95 and inclined considerably to touch Rs.89.05 on the 25th before it declined to end the month at Rs.80.95. On the 1st of August, the stock price stood at Rs.80.80 to end the month at Rs.78.15. On the 1st of September, the stock price opened at Rs.80.05 and gained significantly during the course of the month to end 6 points higher.
- On 3rd October, the price of stock stood at Rs.88.65 and inclined over the course of the month to end at Rs.91.85. On the 1st of November when the stock market opened for trading, the price stood at Rs.91.35 which declined to Rs.81.85 on the 21st before moving upwards to close at Rs.99.05 on the last day of the moth. On the 1st of December, the stock price stood at Rs.95.90 before dropped to Rs.87.45 on the 26th of the month; however, it recovered to end the month at Rs.98.20.
- When markets opened for trading on the 2nd of January 2017, the stock price of the company stood at Rs.99.15 and touched Rs.111.55 on the 11th of the month before declining to end at Rs.97.70. On the 1st of February, the stock price opened at Rs.97.75 and fluctuated over the course of the month before closing at Rs.108.25. On 1st March, the stock price stood at Rs.109.60 and declined by 3 points by the end of the month.
- On 3rd April, the stock recovered to end the day at Rs.108.30 and gained significantly to end the month at Rs.133.60. On the 1st of May, the stock price stood at Rs.133.60 and ended the month at Rs.129.15. The stock price stood at Rs.134.80 on the 1st of June and dropped significantly towards the end of the month to stand at Rs.118.25.
- When the market opened for trading on the 3rd of July, the stock price of the company stood at Rs.119.85 and inclined to touch Rs.130.65 on the 19th before declining to close the month at Rs.124.25. On the 1st of August, the price of the stock stood at Rs.128.85 and touched a new high of Rs.139.00 on the 8th of August and closed the month at Rs.138.85. On 1st September, the stock price stood at Rs.139.55 and dropped by nearly 20 points on the 26th before recovering to close at Rs.126.90.
- On the 2nd of October, the price stood at Rs.126.90 and increased during the course of the month to end at an all-time high of Rs.142.35 on the last day of the month. On the 2nd of November, the stock opened for trading at Rs.138.05 and dropped to Rs.121.35 by mid-November, before ending at Rs.122.30. On the last month of the year, the stock price on the 1st of December stood at Rs.123.70 and closed the month at Rs.128.85.
Should You Invest in Mangalore Refinery and Petrochemicals Ltd.?
- Mangalore Refinery and Petrochemicals Ltd. reported 54.54% increase in its standalone profit at Rs.361.96 crore for the first quarter of FY 2018-19 due to strong sales. The company’s net profit stood at Rs.234.21 crore in the same quarter of the previous financial year.
- The company’s net income inclined by 14.59% to Rs.16,638.46 crore during the quarter in review, as against Rs.14,519.13 crore during the same period of the last fiscal.
- It said, in a filing with BSE, that its expenses during the quarter of April-June stood at Rs.16,050.55 compared to Rs.14,186.95 crore during the same period last year.
- Despite the stock price of the company dropping significantly over the last year, it has stabilized and is seen moving upwards in the last two months due to better performance in Q1 FY19.
- The company’s leadership team is well capable of taking correct and sound decisions, and are well capable of strategizing for increasing the performance of the stock in the market.
A schedule ‘A’ Miniratna company, Mangalore Refinery and Petrochemicals Ltd. was set up in 1988. The company is a 15 million metric tonne refinery with a versatile design with complex secondary processing units and has high flexibility to refine crude of several API. MRPL is a subsidiary of ONGC owns and operates the petrochemical unit which is capable of producing 1 million metric tonnes of Para Wylene. MRPL and Shell Gas B.V. (Shell) have a 50:50 joint venture known as the Shell MRPL Aviation Fuels and Services Ltd. (SMA). SMA supplies fuels to Bengaluru, Mangalore, Goa, Hyderabad, Calicut, Chennai and Madurai. The company also supplies to State Trading Corporation, Mauritius for the past decade.
Prior to the acquisition by ONGC in 2003, MRPL was a joint venture promoted by Hindustan Petroleum Corporation Ltd. (HPCL) and IRIL and associates (AV Birla Group). As mentioned, the company was set up in 1988 with an initial capacity to process 3 million metric tonnes per annum. Currently, the refinery processes 15 million metric tonnes per annum. In 2003, ONGC acquired the total shares of A.V. Birla Group and infused capital of Rs.600 crore.
Management of the Company
Shri Shashi Shanker is the Chairman of Mangalore Refinery and Petrochemicals Ltd. with over three decades of experience in various E&P activities. Before becoming the Director (T&FS) in 2012 in ONGC, he worked on various senior management roles in several work-centres such as Institute of Drilling Technology, Dehradun; West Bengal Project; Assam Project and Deep Water Group at Mumbai. He was known for spearheading the deep/ ultra-deepwater campaign of ONGC. Shri Shashi Shanker has a Petroleum Engineering from the Indian School of Mines (ISM), Dhanbad. Additionally, he has a Master’s in Business Administration from the Indian Institute of Management (IIM), Lucknow and the Indian School of Business, Hyderabad.
Shri M. Venkatesh is the Managing Director of the Mangalore Refinery and Petrochemicals Ltd. and comes with over three decades of experience in Oil and Gas sector. He’s associated with the company since 1994 and executed several major projects. Shri M. Venkatesh is a Chemical Engineer.
Shri A.K. Sahoo is the Director (Finance) of the company and boasts of over thirty years of experience in management and finance with several Central and State Public Sector Undertakings (PSUs). He is also a Fellow Member of the Institute of Cost and Works Accountants of India. Shri A.K. Sahoo is a Post Graduate in Analytical and Applied Economics and has a degree in science.
Mangalore Refinery and Petrochemicals Ltd. in NSE, BSE and Listings
The equity share of Mangalore Refinery and Petrochemicals Ltd. are available for trading on both the NSE and the BSE. The codes for Mangalore Refinery and Petrochemicals Ltd. are as follows:
- NSE Code: MRPL
- BSE Code: 500109
- BSE Group: A
- ISIN: INE103A01014
Coming to the stock market indices, Mangalore Refinery and Petrochemicals are as below:
- S&P CNX 500
- CNX Midcap
Kuthethoor P.O., Via Katipalla, MANGALORE, INDIA - 575 030
Phone : (91-824) 2270400
Fax : (91-824) 2271404
E-Mail : firstname.lastname@example.org
Maker Towers "E" Wing, 15th Floor
MUMBAI, INDIA - 400 005
Phone: (91-22) 2217 3000
Fax : (91-22) 22173233
E-Mail : email@example.com
Opp. KSSIDC A O Building,
Rajajinagar Industrial Estate,
Bangalore - 560010.
Fax: Sales Dept : +91 80 23505501
Delhi Office :
Core - 8 , 7th Floor,
Scope Complex, Lodhi Road, New Delhi - 110003
Phone : 011-24306400
Fax : 011-24361744
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