Mangalore Refinery and Petrochemicals Ltd. is a subsidiary of ONGC and operates a state-of-the-art petroleum refinery in Karnataka, processing a wide range of crude grades to produce value-added petroleum products. It caters to domestic and export markets through refined fuels, petrochemicals, and specialty products. The stock is currently trading at ₹155.89.
Mangalore Refinery and Petrochemicals Ltd. – FY22–FY25 Snapshot
Sales – ₹83,556 Cr → ₹87,218 Cr → ₹89,744 Cr → ₹91,880 Cr – Topline remains stable with high crude volumes
Net Profit – ₹2,222 Cr → ₹2,068 Cr → ₹2,420 Cr → ₹2,655 Cr – Strong bottom-line driven by GRM and cost cuts
Company Order Book – Moderate → Strong → Strong → Strong – Sustained procurement cycle and export contracts
Dividend Yield (%) – 1.12% → 1.23% → 1.31% → 1.38% – Steady payouts supported by cash flow visibility
Operating Performance – Moderate → Strong → Strong → Strong – Higher capacity utilization and blended margins
Equity Capital – ₹1,752.68 Cr (constant) – No dilution
Total Debt – ₹10,222 Cr → ₹9,780 Cr → ₹9,340 Cr → ₹8,960 Cr – Deleveraging trend aligned to profitability
Total Liabilities – ₹18,400 Cr → ₹19,150 Cr → ₹19,850 Cr → ₹20,520 Cr – Stable liability expansion with crude cost
Fixed Assets – ₹5,980 Cr → ₹6,270 Cr → ₹6,560 Cr → ₹6,850 Cr – Gradual capex for emission norms and refining upgrades
Latest Highlights FY25 net profit grew 9.7% YoY to ₹2,655 Cr; revenue rose 2.4% to ₹91,880 Cr EPS: ₹15.15 | EBITDA Margin: 11.8% | Net Margin: 2.89% Return on Equity: 14.36% | Return on Assets: 9.63% Promoter holding: 88.58% | Dividend Yield: 1.38% Complex refinery product mix helped optimize GRMs during volatile crude cycles Strength in petrochemicals and export demand boosted margin stability
Institutional Interest & Ownership Trends Promoter holding remains dominant at 88.58% via ONGC, with no pledging or dilution. FII interest is muted given PSU profile, while domestic institutions maintain stable exposure. Volume data reflects rotational interest from value-oriented fund desks and government-linked mandates.
Business Growth Verdict Yes, MRPL is maintaining strong financial metrics despite macro volatility Margins supported by efficient refining and blended product strategy Debt trajectory is improving with strong operating cash flows Capex remains focused and strategically aligned to long-term energy goals
Company Guidance Management expects stable revenue and GRM levels in FY26, supported by improved plant utilization, export momentum, and diversification into petrochemical derivatives.
Final Investment Verdict Mangalore Refinery and Petrochemicals Ltd. offers a steady play in India’s refining and energy infrastructure vertical. As a PSU subsidiary with consistent cash flows, balanced profitability, and strategic expansion into petrochemicals, the company is positioned for long-term value delivery. Its operational discipline and blend of domestic and export markets make it suitable for accumulation by investors focused on energy-linked stability.
Mangalore Refinery and Petrochemicals Ltd. – FY22–FY25 Snapshot
Sales – ₹83,556 Cr → ₹87,218 Cr → ₹89,744 Cr → ₹91,880 Cr – Topline remains stable with high crude volumes
Net Profit – ₹2,222 Cr → ₹2,068 Cr → ₹2,420 Cr → ₹2,655 Cr – Strong bottom-line driven by GRM and cost cuts
Company Order Book – Moderate → Strong → Strong → Strong – Sustained procurement cycle and export contracts
Dividend Yield (%) – 1.12% → 1.23% → 1.31% → 1.38% – Steady payouts supported by cash flow visibility
Operating Performance – Moderate → Strong → Strong → Strong – Higher capacity utilization and blended margins
Equity Capital – ₹1,752.68 Cr (constant) – No dilution
Total Debt – ₹10,222 Cr → ₹9,780 Cr → ₹9,340 Cr → ₹8,960 Cr – Deleveraging trend aligned to profitability
Total Liabilities – ₹18,400 Cr → ₹19,150 Cr → ₹19,850 Cr → ₹20,520 Cr – Stable liability expansion with crude cost
Fixed Assets – ₹5,980 Cr → ₹6,270 Cr → ₹6,560 Cr → ₹6,850 Cr – Gradual capex for emission norms and refining upgrades
Latest Highlights FY25 net profit grew 9.7% YoY to ₹2,655 Cr; revenue rose 2.4% to ₹91,880 Cr EPS: ₹15.15 | EBITDA Margin: 11.8% | Net Margin: 2.89% Return on Equity: 14.36% | Return on Assets: 9.63% Promoter holding: 88.58% | Dividend Yield: 1.38% Complex refinery product mix helped optimize GRMs during volatile crude cycles Strength in petrochemicals and export demand boosted margin stability
Institutional Interest & Ownership Trends Promoter holding remains dominant at 88.58% via ONGC, with no pledging or dilution. FII interest is muted given PSU profile, while domestic institutions maintain stable exposure. Volume data reflects rotational interest from value-oriented fund desks and government-linked mandates.
Business Growth Verdict Yes, MRPL is maintaining strong financial metrics despite macro volatility Margins supported by efficient refining and blended product strategy Debt trajectory is improving with strong operating cash flows Capex remains focused and strategically aligned to long-term energy goals
Company Guidance Management expects stable revenue and GRM levels in FY26, supported by improved plant utilization, export momentum, and diversification into petrochemical derivatives.
Final Investment Verdict Mangalore Refinery and Petrochemicals Ltd. offers a steady play in India’s refining and energy infrastructure vertical. As a PSU subsidiary with consistent cash flows, balanced profitability, and strategic expansion into petrochemicals, the company is positioned for long-term value delivery. Its operational discipline and blend of domestic and export markets make it suitable for accumulation by investors focused on energy-linked stability.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.