Mangalore Refinery And Petrochemicals Ltd Stock Analysis

BSE: 500109 | NSE: MRPL | Refineries | Mid Cap

BSE Share Price Jul 01, 18:01
81.55 -9.05 (-9.99%)

DeciZen - Make an Informed Decision on MRPL

Overall Rating

1. Quality

2. Valuation

Fair

3. Price Trend

FAQs

1. Is Mangalore Refinery And Petrochemicals Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Mangalore Refinery And Petrochemicals Ltd is a below average quality company.

2. Is Mangalore Refinery And Petrochemicals Ltd undervalued or overvalued?

The key valuation ratios of Mangalore Refinery And Petrochemicals Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Mangalore Refinery And Petrochemicals Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Mangalore Refinery And Petrochemicals Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of MRPL:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Mangalore Refinery And Petrochemicals Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
ROCE % 14%-1.3%4.9%-6.2%17.5%17.7%13.6%4.6%-8.8%-0.3%-
Value Creation Index 0.0-1.1-0.6-1.50.30.30.2-0.7-1.7-1.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 53,77065,69671,81557,46339,64743,20848,45162,06251,00232,18286,064
YoY Gr. Rt. %-22.2%9.3%-20%-31%9%12.1%28.1%-17.8%-36.9%-
Adj EPS 7.7-2.33-7.21214.712.83.2-12.9-1.816.9
YoY Gr. Rt. %--130.2%NA-339%NA22%-12.5%-75.4%-507%NA-
BVPS (₹) 41.236.940.330.336.757.56361.244.34341.1
Adj Net Profit 1,357-410525-1,2572,1082,5712,251553-2,253-3112,955
Cash Flow from Ops. 2768828,602-5761,376-8523,507569183-2,022-
Debt/CF from Ops. 22.48.61.1-15.75.9-102.31664.9-8-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -5.5%-4.1%-12.8%-36.9%
Adj EPS -184.9%-168.2%-151.7%NA
BVPS 0.53.2-12-3.1
Share Price 4.2% -7.1% 10.7% 60.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity % 19.7-67.8-20.335.931.221.35.1-24.4-4.140.1
Op. Profit Mgn % 4.21.31.4-2.57.511.18.93.2-3.625.8
Net Profit Mgn % 2.5-0.60.7-2.25.364.70.9-4.4-13.4
Debt to Equity 0.91.21.41.71.30.90.70.91.52.22
Working Cap Days 6965636351618076727249
Cash Conv. Cycle -13-2-24-71-159-91-3111290

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 40.10%

Sales growth is good in last 4 quarters at 83.33%

Sales growth has been subdued in last 3 years -12.75%

Net Profit has been subdued in last 3 years -151.66%

Debt to equity has increased versus last 3 years average to 2.16

Latest Financials - Mangalore Refinery And Petrochemicals Ltd.

Standalone Consolidated
TTM EPS (₹) 16.9 16.9
TTM Sales (₹ Cr.) 86,064 86,064
BVPS (₹.) 41.1 41.1
Reserves (₹ Cr.) 5,444 5,457
P/BV 2.21 2.20
PE 5.37 5.37
From the Market
52 Week Low / High (₹) 37.10 / 127.60
All Time Low / High (₹) 4.70 / 149.00
Market Cap (₹ Cr.) 15,879
Equity (₹ Cr.) 1,752.6
Face Value (₹) 10
Industry PE 23.9

Management X-Ray of MRPL :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

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News

About Mangalore Refinery And Petrochemicals Ltd

Mangalore Refinery and Petrochemicals Limited (MRPL) is Category 1 Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. MRPL is located in a beautiful hilly terrain, north of Mangaluru city, in Dakshina Kannada District of Karnataka State (India). Refinery has got a versatile design with complex secondary processing units and a high flexibility to process Crudes of various API, delivering a variety of quality products.

MRPL, with its parent company Oil and Natural Gas Corporation Limited (ONGC), owns and operates ONGC Mangalore Petrochemicals Limited (OMPL), OMPL, situated in the adjacent Mangalore Special Economic Zone ( MSEZ), is integrated with the refinery operations. Para Xylene and Benzene products from OMPL are sold in the export market.

Shell MRPL Aviation Fuels and Services Limited (SMA) is a 50:50 joint venture between MRPL and Shell Gas B.V. (Shell), a step down subsidiary of Royal Dutch Shell Plc, Netherlands markets aviation turbine fuel (ATF) to airlines, both domestic as well as International carriers. SMA currently procures ATF from MRPL Refinery Complex and supplies at various airports like Bengaluru, Goa, Mangalore, Hyderabad, Chennai, Calicut, Madurai, Trichy, Coimbatore, Kannur etc. SMA enable Indian carriers fuelling requirement across International Airports.

Business area of the company

The Company is engaged in the business of refining of crude oil. The Company is a subsidiary of Oil and Natural Gas Corporation Limited which holds 71.63% equity shares.

Products and services:

  • Retail Sales
  • Retail Sale Price
  • Consumer Sale
  • Petrochemicals Sale

Awards and Recognition

FY 2011-12

  • State Gold award for excellence in exports (Non-SSI) for 2000-2001
  • Conferred Star Trading House status on September 21, 2001.
  • ‘Certificate of Merit’ for Energy conservation performance in 2001, by Ministry of Power
  • State Gold award for excellence in exports (Non -SSI) for 2001-2002
  • IS0 14001:2004 certification by TUV Rheinland.
  • Export award from Kanara Chamber of Commerce for 2002-2003.
  • ISO:9002 certification on December 1999 and was re-certified ISO 9001:2008.
  • Oil Conservation Award from Ministry of Petroleum and Natural Gas on January 31, 2003.

FY2012-13

  • MRPL has been upgraded from Schedule ‘B’ to Schedule ‘A’ company.
  • MRPL has bagged the coveted Petrofed Award, 2012 “Refinery of the Year” for the commendable performance in production and operational efficiencies while meeting the norms of health, safety and environment protection.
  • MRPL has won “Export Excellence Award, 2013” in Best Manufacturer - Exporter - large category- Gold by Federation of Karnataka Chamber of Commerce and Industry.
  • MRPL was conferred “State Export Excellence Award” for 2010-11 & 2009-10 Medium/Large category - - Gold by Government of Karnataka.
  • MRPL has been rated “Excellent” in performance as per the MoU signed with ONGC for the year 2011-12 and 2012-13 (provisional).
  • Managing Director, MRPL has won the “CEO with HR Orientation Award” in the Global HR Excellence Awards presented by Institute of Public Enterprise, Hyderabad.
  • MRPL was conferred with “BT-Star PSU Excellence Award, 2013” in Human Resource Management category (Miniratna /others).
  • MRPL was awarded First Prize for outstanding performance in the area on Hindi Implementation for two consecutive years 2011-12 and 2012-13 by the Town Official Language Implementation Committee, Mangalore

FY2013-14

  • Won the coveted Petrofed Award “Refinery of the Year-2012” for its commendable performance in production and operational efficiencies while adhering to the norms of health, safety and environment protection.
  • Won the “Refinery of the Year” from Petrofed for the year 2011-12 for leading performance in production and operational efficiencies while meeting the norms of Health, Safety and Environment protection.
  • Won the “Export Excellence Award, 2013” in Best Manufacturer / Exporter (large category) - Gold from the Federation of Karnataka Chamber of Commerce and Industry (FKCCI).
  • Secured the first prize for outstanding performance in the area of Hindi Implementation for the year 2012-13 by Town Official Language Committee(TOLIC), Mangalore.
  • Secured the first prize in the Jawaharlal Nehru Centenary Awards for energy performance for the year 2011-12 & 2012-13 under the Refineries category having complexity of 6.0.
  • Secured the first prize in the OGCF-2012 awards for Furnace/Boiler efficiency having heat duty more than 1000MM Kcal/hr.
  • Won the “State Export Excellence Award” for 2012-13 & 2011-12 Medium/ Large category - Gold & Platinum respectively by Government of Karnataka.
  • Won the award for “Best Fuel efficient Boiler operation” by the Department of Factories and Boilers on the occasion of 43rd National Safety Day celebration.

FY2014-15

  • Won the “Export Excellence Award, 2014” in Best Exporter Award (Medium/large category) from the Federation of Karnataka Chamber of Commerce and Industry (FKCCI) for FY 2013-14
  • Won the Silver at “Niryat Shree Award -2014” in the residual sector of the MSME at FIEO (Federation of Indian Export Organisation).
  • MRPL has conferred the prestigious “Skoch Foundation Order - of-Merit Award” for the best project in the country.
  • Shri Vishnu Agrawal, Director Finance of MRPL was adjudged winner of the ‘BT-STAR Excellence Award in the category PSU- small,- DIRECTOR-FINANCE OF THE YEAR’ post a rigorous evaluation process by the Jury of the BT-Star Excellence Awards 2015.
  • MRPL won the first prize for outstanding performance in the area of Hindi Implementation for the year 2014-15 for fourth consecutive year by TOLIC, Mangalore.

FY2015-16

  • On 22nd January 2016 Shri H. Kumar, Managing Director MRPL was conferred with the “Shrada- Top Rankers award (ICONIC TURN AROUND)” at the 17th National Management Summit on “Global Corporate battle – Raising the Performance Bar', at New Delhi.

FY2018-19

  • Srishti Good Green Governance Award
  • BML Munjal award
  • Platinum Trophy at 18th Annual Green tech Environment Award
  • SCOPE CC Excellence Award -2nd prize for ‘Best In-house Journal - English
  • MRPL bags “Fieldcomm Group 2018 Plant of the Year” Global Award

FY2019-20

  • Dun & Bradstreet PSU Award for being the Best Miniratna in ‘Manufacturing, Processing and Generation’ category
  • 19th Annual Greentech Award 2019

FY2020-21

  • MRPL won Silver Medal IGMC award
  • Prestigious Patent Awarded to MRPL
  • MRPL has Awarded a Patent for “OXIDATIVE TREATMENT OF REFINERY SPENT CAUSTIC”
  • MRPL bagged Corporate Communication Awards for Covid contribution
  • MRPL Bagged Corporate Communication Award For Best Event Management
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