MRPL

Mangalore Refinery and Petrochemicals Limited

State-owned refiner running a single large refinery complex on the west coast

Energy›Oil, Gas & Consumable Fuels›Petroleum Products›Refineries & Marketing

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Key metrics

Price as of 2026-10-16

Stock price
₹172.71
Market cap
30,269 Cr
Stock P/E
6.9
P/B
1.78
Dividend yield
2.3%
ROE (FY26)
13.6%
ROCE (FY26)
17.3%
Operating margin (FY26)
4.5%
Debt / equity (FY26)
1.01
OCF / EBITDA (FY26)
40.6%
OCF / EBITDA (3Y)
70.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

MRPL (Mangalore Refinery and Petrochemicals) refines crude oil into petroleum products and sells them in India through its own retail petrol outlets and to bulk and export customers.

Company snapshot

5thBy market cap

Ranked among 7 companies in Refineries & Marketing.

What we see

Positives
  • ✓Dividend payout of 36% — the company returns a meaningful share of profits to shareholders.
Concerns
  • ✗Net margin is very thin at 1.8% — little room for error if costs rise.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricDec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Sales28,383 Cr29,190 Cr27,289 Cr28,786 Cr25,601 Cr27,601 Cr20,988 Cr25,953 Cr29,720 Cr28,493 Cr41,609 Cr35,590 Cr
Operating expenses (approx.)27,224 Cr26,860 Cr26,684 Cr29,260 Cr24,570 Cr26,471 Cr20,808 Cr24,464 Cr26,936 Cr26,710 Cr40,291 Cr32,311 Cr
EBITDA1,159 Cr2,330 Cr606 Cr-474 Cr1,031 Cr1,130 Cr180 Cr1,489 Cr2,785 Cr1,783 Cr1,318 Cr3,279 Cr
OPM %4.1%8.0%2.2%-1.6%4.0%4.1%0.9%5.7%9.4%6.3%3.2%9.2%
Other income40 Cr39 Cr45 Cr37 Cr33 Cr38 Cr38 Cr61 Cr39 Cr59 Cr71 Cr50 Cr
Interest274 Cr262 Cr214 Cr285 Cr264 Cr245 Cr257 Cr219 Cr219 Cr212 Cr244 Cr284 Cr
Depreciation334 Cr333 Cr335 Cr342 Cr332 Cr338 Cr363 Cr371 Cr391 Cr395 Cr401 Cr407 Cr
Profit before tax596 Cr1,768 Cr108 Cr-1,056 Cr474 Cr592 Cr-402 Cr963 Cr2,220 Cr1,233 Cr1,246 Cr2,539 Cr
Tax %34.2%35.6%32.4%34.0%34.8%37.4%32.6%34.9%34.6%90.5%24.1%25.1%
Net profit392 Cr1,139 Cr73 Cr-697 Cr309 Cr371 Cr-271 Cr627 Cr1,451 Cr117 Cr946 Cr1,901 Cr
EPS (₹)₹2.24₹6.50₹0.42₹-3.98₹1.76₹2.11₹-1.54₹3.58₹8.28₹0.67₹5.40₹10.85

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales59,989 Cr63,688 Cr73,699 Cr59,980 Cr50,895 Cr86,064 Cr1,24,736 Cr1,05,223 Cr1,09,277 Cr1,05,155 CrSign in free for the trailing twelve months
Operating expenses (approx.)55,006 Cr59,186 Cr71,081 Cr63,135 Cr50,198 Cr81,133 Cr1,18,239 Cr97,528 Cr1,06,985 Cr98,920 CrSign in free for the trailing twelve months
EBITDA4,983 Cr4,502 Cr2,618 Cr-3,155 Cr697 Cr4,931 Cr6,497 Cr7,696 Cr2,293 Cr6,235 CrSign in free for the trailing twelve months
OPM %8.3%7.1%3.6%-5.3%1.4%5.7%5.2%7.3%2.1%5.9%Sign in free for the trailing twelve months
Other income419 Cr274 Cr154 Cr82 Cr97 Cr98 Cr190 Cr192 Cr153 Cr198 CrSign in free for the trailing twelve months
Interest966 Cr913 Cr1,059 Cr1,241 Cr554 Cr1,207 Cr1,285 Cr1,114 Cr1,008 Cr907 CrSign in free for the trailing twelve months
Depreciation984 Cr966 Cr1,048 Cr1,086 Cr1,158 Cr1,088 Cr1,187 Cr1,257 Cr1,347 Cr1,520 CrSign in free for the trailing twelve months
Profit before tax5,054 Cr2,871 Cr651 Cr-5,398 Cr-919 Cr2,711 Cr4,256 Cr5,523 Cr119 Cr4,015 CrSign in free for the trailing twelve months
Tax %34.8%38.2%46.1%25.2%16.8%-9.1%37.6%34.9%52.7%52.1%Sign in free for the trailing twelve months
Net profit3,293 Cr1,774 Cr351 Cr-4,039 Cr-765 Cr2,958 Cr2,655 Cr3,597 Cr56 Cr1,925 CrSign in free for the trailing twelve months
EPS (₹)₹19.81₹11.37₹1.94₹-19.13₹-3.24₹16.88₹15.15₹20.52₹0.32₹10.98Sign in free for the trailing twelve months
Dividend payout %—————0.0%0.0%4.9%623.6%36.4%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital1,753 Cr1,753 Cr1,753 Cr1,753 Cr1,753 Cr1,753 Cr1,753 Cr1,753 Cr1,753 Cr1,753 Cr
Reserves7,750 Cr8,481 Cr8,193 Cr5,082 Cr2,495 Cr5,457 Cr8,112 Cr11,530 Cr11,217 Cr12,444 Cr
Borrowings13,260 Cr10,740 Cr12,238 Cr15,972 Cr22,752 Cr21,085 Cr16,707 Cr12,452 Cr12,867 Cr14,334 Cr
Other liabilities9,705 Cr10,823 Cr10,282 Cr7,586 Cr7,729 Cr11,777 Cr8,574 Cr9,696 Cr8,599 Cr15,951 Cr
Total liabilities32,840 Cr31,951 Cr32,766 Cr30,642 Cr34,729 Cr40,071 Cr35,145 Cr35,430 Cr34,435 Cr44,481 Cr
Fixed assets (net)20,238 Cr19,826 Cr19,611 Cr20,037 Cr19,203 Cr20,992 Cr20,005 Cr20,022 Cr19,686 Cr20,043 Cr
CWIP220 Cr682 Cr995 Cr1,746 Cr2,366 Cr170 Cr475 Cr721 Cr720 Cr828 Cr
Investments42 Cr31 Cr29 Cr37 Cr33 Cr36 Cr54 Cr56 Cr63 Cr57 Cr
Loans & advances———13 Cr16 Cr16 Cr22 Cr25 Cr27 Cr29 Cr
Inventories4,414 Cr5,240 Cr6,309 Cr4,232 Cr7,103 Cr10,487 Cr6,777 Cr8,306 Cr7,720 Cr14,422 Cr
Trade receivables2,619 Cr2,577 Cr2,374 Cr1,017 Cr2,451 Cr4,328 Cr4,469 Cr3,860 Cr3,511 Cr6,059 Cr
Cash & bank246 Cr440 Cr5 Cr2 Cr26 Cr6 Cr7 Cr10 Cr10 Cr564 Cr
Other assets5,060 Cr3,154 Cr3,444 Cr3,558 Cr3,532 Cr4,037 Cr3,337 Cr2,430 Cr2,697 Cr2,479 Cr
Total assets32,840 Cr31,951 Cr32,766 Cr30,642 Cr34,729 Cr40,071 Cr35,145 Cr35,430 Cr34,435 Cr44,481 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-1,108 Cr3,972 Cr1,640 Cr478 Cr-2,802 Cr4,693 Cr6,364 Cr7,045 Cr1,878 Cr2,531 Cr
Cash from investing-265 Cr-981 Cr-1,080 Cr-1,449 Cr-2,099 Cr-595 Cr-673 Cr-1,518 Cr-940 Cr-1,378 Cr
Cash from financing265 Cr-2,796 Cr-996 Cr968 Cr4,925 Cr-4,119 Cr-5,690 Cr-5,524 Cr-938 Cr-598 Cr
Net cash flow-1,109 Cr194 Cr-436 Cr-3 Cr24 Cr-20 Cr1 Cr3 Cr0.37 Cr554 Cr
Free cash flow (OCF − Capex)-1,970 Cr2,902 Cr448 Cr-1,016 Cr-3,716 Cr4,082 Cr5,662 Cr5,489 Cr888 Cr1,119 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %26.0%17.9%7.6%-18.0%-1.3%13.8%20.9%25.8%4.4%17.3%
ROE %35.2%19.2%3.3%-47.3%-13.4%41.0%26.9%27.1%0.4%13.6%
Debtor days1615126181813131221
Inventory days43443933896025383167
Days payable59402926505423332451
Cash conversion cycle-0192214562515181936
OCF / EBITDA %-22.2%88.2%62.7%—n.m.95.2%98.0%91.5%n.m.40.6%
OCF / EBITDA % (3 years)——37.2%n.m.n.m.n.m.68.1%94.7%92.7%70.6%
Debt / equity1.401.051.232.345.362.921.690.940.991.01
Current ratio0.700.540.550.570.730.860.991.030.981.14
Net debt / EBITDA2.612.294.67—32.624.282.571.625.612.21