MRPL Q4 Review - In-Line Results, Debt Increases: Motilal Oswal

Mangalore Refinery and Petrochem Ltd.’s oil refinery. (Source: Company website)

MRPL Q4 Review - In-Line Results, Debt Increases: Motilal Oswal

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Mangalore Refinery and Petrochemicals Ltd. reported Ebitda in line with our estimates (at Rs 8.5 billion), but lower than-estimated profit after tax of Rs 3.3 billion – due to high interest cost.

Refining throughput increased (to a ~107% utilization rate) on the back of increasing demand for petroleum products.

However, current utilisation has declined to ~80% due to the ongoing lockdowns.

A key concern noted as per the results was the increase in consolidated debt by ~35% YoY to Rs 227.5 billion in FY21 (standalone debt up 49% YoY to Rs 153.6 billion) – amid the acquisition of a 100% stake in ONGC Mangalore Petrochemicals Ltd. and loss during nine months FY21.

Click on the attachment to read the full report:

Motilal Oswal MRPL Q4FY21 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.