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Mangalore Refinery & Petrochemicals Ltd.
(MRPL)
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Rating:59Neutral
Price Target:
₹170.00
▲(12.32% Upside)
Action:Reiterated
Date:07/11/26
The score is primarily driven by improved profitability and balance-sheet leverage versus earlier years, but it is constrained by weak and less reliable recent cash generation (notably the sharp drop in 2026 free cash flow and low cash conversion). Technical indicators are mixed with neutral momentum and a negative MACD, while valuation is reasonable and modestly supportive.
Positive Factors
Improved Leverage / Stronger Capital Base
Leverage improvement to roughly 1.1x and equity growth strengthen the firm's capital base, reducing refinancing pressure and improving resilience to cyclical downturns. This durable balance-sheet repair supports funding for maintenance capex, reliability projects, and selective growth over months to years.
Negative Factors
Weak Cash Generation / Low Cash Conversion
A sharp FCF decline and poor cash conversion versus earnings materially weaken financial flexibility: limits capacity to self-fund capex, reduce debt, or sustain payouts. Over several months this raises refinancing and liquidity risk if margins or working-capital needs deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Leverage / Stronger Capital Base
Leverage improvement to roughly 1.1x and equity growth strengthen the firm's capital base, reducing refinancing pressure and improving resilience to cyclical downturns. This durable balance-sheet repair supports funding for maintenance capex, reliability projects, and selective growth over months to years.
Read all positive factors
Mangalore Refinery & Petrochemicals Ltd. (MRPL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹284.71B
Dividend Yield2.04%
Average Volume (3M)323.76K
Price to Earnings (P/E)14.8
Beta (1Y)1.17
Revenue Growth-6.35%
EPS Growth3324.95%
CountryIN
Employees2,548
SectorGeneral
Sector StrengthN/A
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)10.98
Shares Outstanding1,752,598,800
10 Day Avg. Volume549,586
30 Day Avg. Volume323,759
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)22.53
Revenue Forecast (FY)₹1.14T
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 into domestic and export markets. Its core revenue model is the refining margin (often referenced as gross refining margin), which is ...
Mangalore Refinery & Petrochemicals Ltd. Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
60
Neutral
Cash Flow
48
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 886.67B | 946.43B | 903.73B | 1.09T | 698.15B |
| Gross Profit | 82.52B | 31.17B | 86.30B | 84.36B | 57.38B |
| EBITDA | 64.42B | 24.28B | 78.61B | 65.13B | 46.76B |
| Net Income | 19.25B | 562.05M | 35.97B | 26.55B | 29.58B |
Balance Sheet | |||||
| Total Assets | 444.81B | 344.35B | 354.30B | 351.45B | 400.71B |
| Cash, Cash Equivalents and Short-Term Investments | 6.11B | 313.90M | 97.28M | 389.20M | 55.24M |
| Total Debt | 153.41B | 131.43B | 126.87B | 169.39B | 213.10B |
| Total Liabilities | 302.84B | 214.65B | 221.48B | 252.81B | 328.62B |
| Stockholders Equity | 141.97B | 129.70B | 132.83B | 98.65B | 72.09B |
Cash Flow | |||||
| Free Cash Flow | 4.31B | 8.88B | 54.89B | 56.62B | 40.82B |
| Operating Cash Flow | 18.43B | 18.78B | 70.45B | 63.64B | 46.93B |
| Investing Cash Flow | -14.13B | -9.40B | -15.18B | -6.73B | -5.95B |
| Financing Cash Flow | 1.24B | -9.38B | -55.24B | -56.90B | -41.19B |
Mangalore Refinery & Petrochemicals Ltd. Technical Analysis
Positive
151.35
Price Trends
154.66
Positive
169.97
Negative
160.55
Positive
Market Momentum
-1.36
Negative
59.71
Neutral
59.67
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 151.35 is below the 20-day moving average (MA) of 154.59, below the 50-day MA of 154.66, and below the 200-day MA of 160.55, indicating a bullish trend. The MACD of -1.36 indicates Negative momentum. The RSI at 59.71 is Neutral, neither overbought nor oversold. The STOCH value of 59.67 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹175.98B | 5.67 | ― | 0.55% | 7.22% | 1349.42% | |
73 Outperform | ₹1.96T | 4.55 | ― | 4.90% | 3.47% | 209.60% | |
68 Neutral | ₹1.34T | 5.12 | ― | 4.73% | 3.40% | 93.77% | |
67 Neutral | ₹841.23B | 4.66 | ― | 3.26% | 1.77% | 167.91% | |
59 Neutral | ₹284.71B | 14.80 | ― | 2.04% | -6.35% | 3324.95% | |
59 Neutral | ₹17.71T | 21.91 | ― | 0.35% | 9.59% | 15.97% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:MRPL
Mangalore Refinery & Petrochemicals Ltd.
162.45
23.43
16.86%
IN:BPCL
Bharat Petroleum Corporation Limited
309.70
-13.35
-4.13%
IN:CHENNPETRO
Chennai Petroleum Corporation Limited
1,181.80
465.79
65.05%
IN:HINDPETRO
Hindustan Petroleum Corporation Limited
395.35
-19.25
-4.64%
IN:IOC
Indian Oil Corp. Ltd.
138.95
-1.93
-1.37%
IN:RELIANCE
Reliance Industries Limited
1,308.85
-163.04
-11.08%
Mangalore Refinery & Petrochemicals Ltd. Corporate Events
MRPL Announces Cessation of ONGC Nominee Director Pankaj Kumar
Jul 1, 2026
Mangalore Refinery and Petrochemicals Limited announced a change in its board composition with the cessation of Shri Pankaj Kumar as a non-executive nominee director representing ONGC, effective July 1, 2026, upon his superannuation. The update, f...
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.