Latest news with #MangaloreRefineryandPetrochemicals
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Business Standard
22-07-2025
- Business
- Business Standard
MRPL shares rise 6%; Yes Securities forecasts improved Q2 performance
Mangalore Refinery and Petrochemicals (MRPL) shares rose 5.6 per cent, logging an intraday high at ₹146.95 per share on the National Stock Exchange (NSE). At 12:47 PM, Mangalore Refinery and Petrochemicals share price was trading 2.16 per cent higher at ₹142.16 per share on NSE. In comparison, the NSE Nifty gained 0.08 per cent at 25,110.95. The market capitalisation of the company stood at ₹24,914.94 crore. The 52-week high of the company stood at ₹224.9 per share, and the 52-week low was at ₹98.92. Brokerage firm Yes Securities believes that the worst for MRPL is behind and sees a better Q2 on stronger refining cracks. The brokerage maintained 'Buy' rating on the stock with a revised target of ₹180 per share from ₹160, valuing the stock at 1.9x FY27e price-to-book (P/B). Yes Securities' bullish stance comes after the company reported Q1FY26 results on Friday, July 18, 2025. In Q1, the company's consolidated net loss for Q1FY26 stood at ₹271.97 crore as compared to a net profit of ₹73.22 crore a year ago. Its revenue from operations for the quarter stood at ₹20,988.03 crore as compared to ₹27,289.4 crore. Yes Securities reckons that the weakness in earnings was dragged by shutdowns and inventory losses. The reported gross refinery margins (GRMs) were lower than the brokerage's expectations owing to Phase-II shutdown for 45 days in the quarter, which was more than expected due to record rainfalls. The exported products also declined due to lower plant utilisation and non availability of the feedstock. Track Stock Market LIVE Updates MRPL's Q1FY26 reported GRM was USD3.88/bbl (USD6.23 the previous quarter, USD4.7 a year ago). Yes Securities had predicted GRM at USD7.3/bbl. In one year, analysts of Yes Securities view MRPL standing to benefit tactically from the recent surge in refining margins, driven by geopolitical risk premium on crude (post Israel–Iran escalation) and resilient diesel cracks. With Brent 70/bbl, near-term GRMs may remain elevated, supporting earnings in H1FY26. The company sources over 33 per cent of its crude requirements from Russia at a discount, thereby boosting GRMs, one of the highest amongst Indian refiners at a single location. In three years, MRPL's investment outlook is driven by its integrated operations and plans to expand into petrochemicals and fuel retailing. These moves are expected to improve profit quality by FY28, as demand for value-added products grows faster than fuel demand. Better pipeline connectivity will give MRPL more flexibility in sourcing crude oil. Its net debt-to-equity is currently 0.99x with ₹132.3 billion in debt, and the company aims to keep this level stable despite increasing capital expenditure. A merger with Hindustan Petroleum Corporation (HPCL) is unlikely in the near future, as it depends on a decision by the promoters, ONGC and HPCL. Also, due to tax-related losses carried forward from the OMPL merger, any new merger can only happen after FY27, according to Yes Securities.
Economic Times
21-07-2025
- Business
- Economic Times
MRPL shares slide 7% after co slips to loss in Q1 on margin, revenue hit
Shares of Mangalore Refinery and Petrochemicals (MRPL) fell over 7% on Monday to touch an intraday low of Rs 138.70 apiece on the BSE. This decline came in the wake of the company's first-quarter financial results for FY26, which showed a significant turnaround from profit to loss. ADVERTISEMENT Last week, MRPL, a subsidiary of ONGC, reported a consolidated net loss of Rs 271 crore for Q1 FY26, compared to a net profit of Rs 73 crore in the same quarter last year. Revenue from operations for the June quarter fell to Rs 20,988 crore, down from Rs 27,289 crore recorded in Q1 FY25. Additionally, the company's Gross Refining Margin (GRM), a key indicator of profitability in the refining business, dropped to $3.88 per barrel from $4.70 per barrel year-on-year, highlighting the pressure on MRPL's core operations. Investors reacted negatively to the results, leading to a notable dip in the stock price on Monday. The stock has experienced significant volatility over the past year, hitting a 52-week high of Rs 230.25 and a low of Rs 98.95. Overall, the share price has declined by approximately 35% in the last 12 months, reflecting the challenges faced by the company and broader market a technical standpoint, the daily Relative Strength Index (RSI) stands at 59.6. Typically, an RSI below 30 indicates that a stock is oversold and may be due for a rebound, while an RSI above 70 suggests it is overbought and could face selling pressure. At 59.6, MRPL's RSI signals neither extreme, indicating a neutral momentum. ADVERTISEMENT Also read: ICICI Bank shares surge 2% after Q1 profit rises 15% YoY to Rs 12,768 crore. Should you buy, sell, or hold? Looking at moving averages, MRPL is currently trading below six out of eight Simple Moving Averages (SMAs), which is generally a bearish indicator. The stock is only above the 100-day and 150-day SMAs, while it remains below shorter-term averages such as the 5-day and longer-term averages like the 200-day SMA. This mixed pattern suggests some short-term weakness and pressure in the stock price despite a few longer-term support levels. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
21-07-2025
- Business
- Time of India
MRPL shares slide 7% after co slips to loss in Q1 on margin, revenue hit
Shares of Mangalore Refinery and Petrochemicals (MRPL) fell over 7% on Monday to touch an intraday low of Rs 138.70 apiece on the BSE. This decline came in the wake of the company's first-quarter financial results for FY26, which showed a significant turnaround from profit to loss. Last week, MRPL, a subsidiary of ONGC , reported a consolidated net loss of Rs 271 crore for Q1 FY26, compared to a net profit of Rs 73 crore in the same quarter last year. Explore courses from Top Institutes in Select a Course Category Technology Cybersecurity healthcare Project Management Finance Data Analytics CXO Digital Marketing Data Science Leadership Others Design Thinking MCA Artificial Intelligence Data Science Management Product Management PGDM Degree Healthcare Operations Management others Public Policy MBA Skills you'll gain: Duration: 12 Weeks MIT xPRO CERT-MIT XPRO Building AI Prod India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Tinnitus? Do This Immediately! Live Happier Click Here Revenue from operations for the June quarter fell to Rs 20,988 crore, down from Rs 27,289 crore recorded in Q1 FY25. Additionally, the company's Gross Refining Margin (GRM), a key indicator of profitability in the refining business, dropped to $3.88 per barrel from $4.70 per barrel year-on-year, highlighting the pressure on MRPL's core operations. Investors reacted negatively to the results, leading to a notable dip in the stock price on Monday. Price and Technicals: The stock has experienced significant volatility over the past year, hitting a 52-week high of Rs 230.25 and a low of Rs 98.95. Overall, the share price has declined by approximately 35% in the last 12 months, reflecting the challenges faced by the company and broader market conditions. Live Events From a technical standpoint, the daily Relative Strength Index (RSI) stands at 59.6. Typically, an RSI below 30 indicates that a stock is oversold and may be due for a rebound, while an RSI above 70 suggests it is overbought and could face selling pressure. At 59.6, MRPL's RSI signals neither extreme, indicating a neutral momentum. Also read: ICICI Bank shares surge 2% after Q1 profit rises 15% YoY to Rs 12,768 crore. Should you buy, sell, or hold? Looking at moving averages, MRPL is currently trading below six out of eight Simple Moving Averages (SMAs), which is generally a bearish indicator. The stock is only above the 100-day and 150-day SMAs, while it remains below shorter-term averages such as the 5-day and longer-term averages like the 200-day SMA. This mixed pattern suggests some short-term weakness and pressure in the stock price despite a few longer-term support levels.
