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Mangalore Refinery & Petrochemicals Ltd.
(MRPL)
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Rating:69Neutral
Price Target:
₹200.00
▲(15.41% Upside)
Action:Reiterated
Date:10/27/26
The score is driven by attractive valuation (low P/E and meaningful dividend yield) and constructive technicals with price above major moving averages. These positives are balanced by only moderate financial performance due to high cyclicality and weaker recent free cash flow and cash conversion.
Positive Factors
Recent earnings recovery
The sharp recent improvement in revenue and earnings shows that MRPL can recover strongly when refining conditions improve. This strengthens internal funding capacity and provides a better base for sustaining operations, investment and shareholder returns over the next several quarters.
Negative Factors
High earnings cyclicality
MRPL’s profitability is highly exposed to refining spreads and changing product realizations, creating substantial variability across reporting periods. This cyclicality makes earnings less predictable and can weaken the company’s ability to plan investment, dividends and debt reduction consistently.
Read all positive and negative factors
Positive Factors
Negative Factors
Recent earnings recovery
The sharp recent improvement in revenue and earnings shows that MRPL can recover strongly when refining conditions improve. This strengthens internal funding capacity and provides a better base for sustaining operations, investment and shareholder returns over the next several quarters.
Read all positive factors
Mangalore Refinery & Petrochemicals Ltd. (MRPL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹303.29B
Dividend Yield4.05%
Average Volume (3M)896.41K
Price to Earnings (P/E)6.9
Beta (1Y)1.18
Revenue Growth38.12%
EPS Growth325.84%
CountryIN
Employees2,548
SectorGeneral
Sector StrengthN/A
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)17.93
Shares Outstanding1,752,598,800
10 Day Avg. Volume1,424,792
30 Day Avg. Volume896,414
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)2.22
Price to Sales (P/S)0.36
P/FCF Ratio73.19
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)21.5
Revenue Forecast (FY)₹1.24T
Mangalore Refinery & Petrochemicals Ltd. Business Overview & Revenue Model
Company Description
Established in 1988, Mangalore Refinery and Petrochemicals Limited (MRPL) is an India-based company primarily engaged in the refining and distribution of petroleum products. Headquartered in Mangalore, India, MRPL's diverse product portfolio inclu...
How the Company Makes Money
MRPL primarily makes money by refining crude oil into higher-value petroleum products and selling those products to wholesale customers and through marketing channels. The company’s key revenue stream is the sale of refined products: (1) light and...
Mangalore Refinery & Petrochemicals Ltd. Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
60
Neutral
Cash Flow
48
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.10T | 886.67B | 946.43B | 903.73B | 1.09T | 698.15B |
| Gross Profit | 99.74B | 82.52B | 31.17B | 86.30B | 84.36B | 57.38B |
| EBITDA | 75.37B | 64.42B | 24.28B | 78.61B | 65.13B | 46.76B |
| Net Income | 31.41B | 19.25B | 562.05M | 35.97B | 26.55B | 29.58B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 444.81B | 344.35B | 354.30B | 351.45B | 400.71B |
| Cash, Cash Equivalents and Short-Term Investments | 6.11B | 6.11B | 313.90M | 97.28M | 389.20M | 55.24M |
| Total Debt | 0.00 | 153.41B | 131.43B | 126.87B | 169.39B | 213.10B |
| Total Liabilities | -141.97B | 302.84B | 214.65B | 221.48B | 252.81B | 328.62B |
| Stockholders Equity | 141.97B | 141.97B | 129.70B | 132.83B | 98.65B | 72.09B |
Cash Flow | ||||||
| Free Cash Flow | 35.75B | 4.31B | 8.88B | 54.89B | 56.62B | 40.82B |
| Operating Cash Flow | 43.28B | 18.43B | 18.78B | 70.45B | 63.64B | 46.93B |
| Investing Cash Flow | -7.34B | -14.13B | -9.40B | -15.18B | -6.73B | -5.95B |
| Financing Cash Flow | -27.97B | 1.24B | -9.38B | -55.24B | -56.90B | -41.19B |
Mangalore Refinery & Petrochemicals Ltd. Technical Analysis
Positive
173.30
Price Trends
170.04
Positive
165.19
Positive
166.56
Positive
Market Momentum
1.79
Negative
50.98
Neutral
44.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MRPL, the sentiment is Positive. The current price of 173.3 is above the 20-day moving average (MA) of 172.50, above the 50-day MA of 170.04, and above the 200-day MA of 166.56, indicating a bullish trend. The MACD of 1.79 indicates Negative momentum. The RSI at 50.98 is Neutral, neither overbought nor oversold. The STOCH value of 44.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MRPL.
Mangalore Refinery & Petrochemicals Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ₹225.04B | 3.95 | ― | 5.76% | 31.17% | 387.42% | |
71 Outperform | ₹1.23T | 7.70 | ― | 7.91% | 21.77% | -25.56% | |
70 Outperform | ₹1.84T | 5.33 | ― | 5.92% | 13.47% | 99.32% | |
69 Neutral | ₹303.29B | 6.87 | ― | 4.05% | 38.12% | 325.84% | |
62 Neutral | ₹15.75T | 21.10 | ― | 0.52% | 15.00% | -8.32% | |
60 Neutral | ₹722.40B | 50.45 | ― | 7.13% | 16.94% | -89.68% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:MRPL
Mangalore Refinery & Petrochemicals Ltd.
173.05
12.85
8.02%
IN:BPCL
Bharat Petroleum Corporation Limited
284.30
-55.62
-16.36%
IN:CHENNPETRO
Chennai Petroleum Corporation Limited
1,511.25
594.94
64.93%
IN:HINDPETRO
Hindustan Petroleum Corporation Limited
339.50
-108.51
-24.22%
IN:IOC
Indian Oil Corp. Ltd.
130.00
-27.56
-17.49%
IN:RELIANCE
Reliance Industries Limited
1,163.55
-316.11
-21.36%
Mangalore Refinery & Petrochemicals Ltd. Corporate Events
MRPL Posts Strong Q2 FY27 Results, Declares ₹23 Interim Dividend
Oct 14, 2026
Mangalore Refinery and Petrochemicals Limited’s board has approved standalone and consolidated unaudited financial results for the quarter and half year ended 30 September 2026, confirming continued operational scale with revenue from operat...
MRPL Q2 FY27 Profit Surges; Board Declares Interim Dividend
Oct 14, 2026
Mangalore Refinery and Petrochemicals Ltd. reported a sharp improvement in financial performance for the quarter ended September 30, 2026, with revenue from operations rising to ₹35,590 crore and profit after tax jumping to ₹1,881 cror...
MRPL Posts Strong Half-Year Results, Declares Rs 3 Interim Dividend
Oct 14, 2026
Mangalore Refinery and Petrochemicals Ltd. said its board has approved the standalone and consolidated unaudited financial results for the quarter and half year ended September 30, 2026, showing strong revenue and profit performance. The board als...
MRPL Announces ₹1.2 Crore Support Package After Fatal CHTU Fire
Oct 1, 2026
Mangalore Refinery and Petrochemicals Ltd. has reported a fatal incident at its Coker Hydrotreater Unit in Mangaluru, where employee Manish Karkada lost his life on 30 September 2026. The company expressed deep condolences to his family and emphas...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.