Mangalore Refinery & Petrochemicals Ltd. (IN:MRPL)
:MRPL
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Mangalore Refinery & Petrochemicals Ltd.
(MRPL)
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Rating:51Neutral
Price Target:
₹149.00
▼(-1.55% Downside)
Action:Reiterated
Date:05/09/26
The score is primarily held back by weaker cash-flow quality and ongoing cyclicality despite a profitability rebound and improved leverage. Technical signals are mildly bearish/weak in the near term, and valuation is unfavorable due to the very high P/E, with only modest support from the dividend yield.
Positive Factors
Improved leverage
Leverage reduction to about 1.1 indicates a materially stronger capital structure versus earlier years. This improved balance-sheet resilience lowers refinancing and solvency risk across cycles, enabling the company to fund maintenance capex and withstand weaker margins without immediate distress.
Negative Factors
Weak cash conversion
Severely reduced free cash flow and cash conversion (FCF ~23% of earnings) constrain the company’s ability to self-fund capex, reduce debt, or return capital. Persistent weak cash conversion increases reliance on external financing and raises vulnerability during industry downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage
Leverage reduction to about 1.1 indicates a materially stronger capital structure versus earlier years. This improved balance-sheet resilience lowers refinancing and solvency risk across cycles, enabling the company to fund maintenance capex and withstand weaker margins without immediate distress.
Read all positive factors
Mangalore Refinery & Petrochemicals Ltd. (MRPL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹259.82B
Dividend Yield2.04%
Average Volume (3M)323.76K
Price to Earnings (P/E)67.1
Beta (1Y)1.21
Revenue Growth-6.35%
EPS Growth3324.95%
CountryIN
Employees2,548
SectorEnergy
Sector Strength52
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)5.90
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)12.07
Revenue Forecast (FY)₹951.88B
Mangalore Refinery & Petrochemicals Ltd. Business Overview & Revenue Model
Company Description
Mangalore Refinery and Petrochemicals Limited manufactures and sells refined petroleum products in India. The company produces and sells bitumen, furnace oil, high speed diesel, xylol, naphtha pet coke, sulphur, and motor gasoline, as well as poly...
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 | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 864.33B | 886.67B | 946.43B | 903.73B | 1.09T | 698.15B |
| Gross Profit | 48.04B | 82.52B | 31.17B | 86.30B | 84.36B | 57.38B |
| EBITDA | 39.68B | 62.35B | 24.28B | 78.61B | 65.13B | 46.76B |
| Net Income | 10.37B | 19.25B | 562.05M | 35.97B | 26.55B | 29.58B |
Balance Sheet | ||||||
| Total Assets | 355.61B | 444.81B | 344.35B | 354.30B | 351.45B | 400.71B |
| Cash, Cash Equivalents and Short-Term Investments | 8.74B | 6.11B | 313.90M | 97.28M | 389.20M | 55.24M |
| Total Debt | 108.24B | 153.41B | 131.43B | 126.87B | 169.39B | 213.10B |
| Total Liabilities | 222.43B | 302.84B | 214.65B | 221.48B | 252.81B | 328.62B |
| Stockholders Equity | 133.18B | 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
Negative
151.35
Price Trends
175.80
Negative
170.18
Negative
155.31
Negative
Market Momentum
-8.12
Positive
35.30
Neutral
11.96
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MRPL, the sentiment is Negative. The current price of 151.35 is below the 20-day moving average (MA) of 162.98, below the 50-day MA of 175.80, and below the 200-day MA of 155.31, indicating a bearish trend. The MACD of -8.12 indicates Positive momentum. The RSI at 35.30 is Neutral, neither overbought nor oversold. The STOCH value of 11.96 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MRPL.
Mangalore Refinery & Petrochemicals Ltd. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹150.64B | 2.67 | ― | 0.55% | 7.22% | 1349.42% | |
73 Outperform | ₹1.95T | 4.43 | ― | 4.90% | 3.47% | 209.60% | |
68 Neutral | ₹1.27T | 5.71 | ― | 4.73% | 3.40% | 93.77% | |
67 Neutral | ₹814.21B | 3.95 | ― | 3.26% | 1.77% | 167.91% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
59 Neutral | ₹18.40T | 26.79 | ― | 0.35% | 9.59% | 15.97% | |
51 Neutral | ₹259.82B | 67.10 | ― | 2.04% | -6.35% | 3324.95% |
* Energy Sector Average
IN:MRPL
Mangalore Refinery & Petrochemicals Ltd.
148.25
11.49
8.40%
IN:BPCL
Bharat Petroleum Corporation Limited
293.70
-2.89
-0.97%
IN:CHENNPETRO
Chennai Petroleum Corporation Limited
1,011.60
325.27
47.39%
IN:HINDPETRO
Hindustan Petroleum Corporation Limited
382.65
-7.79
-2.00%
IN:IOC
Indian Oil Corp. Ltd.
138.05
3.55
2.64%
IN:RELIANCE
Reliance Industries Limited
1,359.75
-63.47
-4.46%
Mangalore Refinery & Petrochemicals Ltd. Corporate Events
MRPL Files SEBI Compliance Certificate on Dematerialised Securities Handling
Apr 4, 2026
Mangalore Refinery and Petrochemicals Limited has disclosed that it received a compliance certificate from its registrar and transfer agent MUFG Intime India Private Limited for the quarter ended March 31, 2026. The filing confirms adherence to Re...
MRPL Completes Payout of 40% Interim Dividend for FY 2025-26
Mar 31, 2026
Mangalore Refinery and Petrochemicals Limited has confirmed that the interim dividend of Rs 4 per fully paid equity share of Rs 10 each, equivalent to 40% for the 2025-26 financial year, has been paid to eligible shareholders. The distribution, ap...
MRPL Refutes Social Media Rumours of Refinery Shutdown, Says Operations Normal
Mar 7, 2026
Mangalore Refinery and Petrochemicals Ltd. has denied social media reports claiming it has begun shutting down parts of its 300,000 barrels-per-day Mangalore refinery due to crude feedstock shortages linked to Middle Eastern supply disruptions. Th...
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.