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Mangalore Refinery and Petrochemicals

NSEI:MRPL
Snowflake Description

Moderate growth potential second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MRPL
NSEI
₹103B
Market Cap
  1. Home
  2. IN
  3. Energy
Company description

Mangalore Refinery and Petrochemicals Limited manufactures and sells refined petroleum products in India. The last earnings update was 35 days ago. More info.


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  • Mangalore Refinery and Petrochemicals has significant price volatility in the past 3 months.
MRPL Share Price and Events
7 Day Returns
-2.1%
NSEI:MRPL
-0%
IN Oil and Gas
-1.8%
IN Market
1 Year Returns
-32.7%
NSEI:MRPL
10%
IN Oil and Gas
-1.3%
IN Market
MRPL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Mangalore Refinery and Petrochemicals (MRPL) -2.1% -5.2% -19.8% -32.7% -10.3% -17.3%
IN Oil and Gas -0% 4.2% -1.5% 10% 62.3% 35.4%
IN Market -1.8% 3.6% -0% -1.3% 31.8% 41.4%
1 Year Return vs Industry and Market
  • MRPL underperformed the Oil and Gas industry which returned 10% over the past year.
  • MRPL underperformed the Market in India which returned -1.3% over the past year.
Price Volatility
MRPL
Industry
5yr Volatility vs Market

Value

 Is Mangalore Refinery and Petrochemicals undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Mangalore Refinery and Petrochemicals to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Mangalore Refinery and Petrochemicals.

NSEI:MRPL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 20.5%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:MRPL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.908 (1 + (1- 35%) (144.67%))
1.511
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.51
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (1.511 * 8.6%)
20.54%

Discounted Cash Flow Calculation for NSEI:MRPL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Mangalore Refinery and Petrochemicals is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:MRPL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 20.54%)
2019 8,730.00 Analyst x1 7,242.23
2020 49,739.00 Analyst x1 34,230.49
2021 15,263.00 Analyst x2 8,713.93
2022 15,165.70 Est @ -0.64% 7,182.81
2023 15,441.53 Est @ 1.82% 6,067.09
2024 15,987.87 Est @ 3.54% 5,211.21
2025 16,745.97 Est @ 4.74% 4,528.10
2026 17,681.09 Est @ 5.58% 3,966.19
2027 18,772.71 Est @ 6.17% 3,493.41
2028 20,009.22 Est @ 6.59% 3,088.95
Present value of next 10 years cash flows ₹83,724.40
NSEI:MRPL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹20,009.22 × (1 + 7.55%) ÷ (20.54% – 7.55%)
₹165,627.05
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹165,627.05 ÷ (1 + 20.54%)10
₹25,568.86
NSEI:MRPL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹83,724.40 + ₹25,568.86
₹109,293.26
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹109,293.26 / 1,752.60
₹62.36
NSEI:MRPL Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹62.52
Current discount Discount to share price of ₹59.00
= -1 x (₹59.00 - ₹62.52) / ₹62.52
5.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Mangalore Refinery and Petrochemicals is available for.
Intrinsic value
6%
Share price is ₹59 vs Future cash flow value of ₹62.52
Current Discount Checks
For Mangalore Refinery and Petrochemicals to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Mangalore Refinery and Petrochemicals's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Mangalore Refinery and Petrochemicals's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Mangalore Refinery and Petrochemicals's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Mangalore Refinery and Petrochemicals's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:MRPL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in INR ₹1.94
BSE:500109 Share Price ** BSE (2019-06-17) in INR ₹58.85
India Oil and Gas Industry PE Ratio Median Figure of 21 Publicly-Listed Oil and Gas Companies 12.68x
India Market PE Ratio Median Figure of 2,826 Publicly-Listed Companies 15.85x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Mangalore Refinery and Petrochemicals.

NSEI:MRPL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:500109 Share Price ÷ EPS (both in INR)

= 58.85 ÷ 1.94

30.34x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mangalore Refinery and Petrochemicals is overvalued based on earnings compared to the IN Oil and Gas industry average.
  • Mangalore Refinery and Petrochemicals is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does Mangalore Refinery and Petrochemicals's expected growth come at a high price?
Raw Data
NSEI:MRPL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 30.34x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
49.7%per year
India Oil and Gas Industry PEG Ratio Median Figure of 11 Publicly-Listed Oil and Gas Companies 1.52x
India Market PEG Ratio Median Figure of 522 Publicly-Listed Companies 1.34x

*Line of best fit is calculated by linear regression .

NSEI:MRPL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 30.34x ÷ 49.7%

0.61x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mangalore Refinery and Petrochemicals is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Mangalore Refinery and Petrochemicals's assets?
Raw Data
NSEI:MRPL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in INR ₹58.39
BSE:500109 Share Price * BSE (2019-06-17) in INR ₹58.85
India Oil and Gas Industry PB Ratio Median Figure of 29 Publicly-Listed Oil and Gas Companies 1.34x
India Market PB Ratio Median Figure of 3,653 Publicly-Listed Companies 1x
NSEI:MRPL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:500109 Share Price ÷ Book Value per Share (both in INR)

= 58.85 ÷ 58.39

1.01x

* Primary Listing of Mangalore Refinery and Petrochemicals.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mangalore Refinery and Petrochemicals is good value based on assets compared to the IN Oil and Gas industry average.
X
Value checks
We assess Mangalore Refinery and Petrochemicals's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Mangalore Refinery and Petrochemicals has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Mangalore Refinery and Petrochemicals expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
49.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Mangalore Refinery and Petrochemicals expected to grow at an attractive rate?
  • Mangalore Refinery and Petrochemicals's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Mangalore Refinery and Petrochemicals's earnings growth is expected to exceed the India market average.
  • Mangalore Refinery and Petrochemicals's revenues are expected to decrease over the next 1-3 years, this is below the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:MRPL Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:MRPL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 49.7%
NSEI:MRPL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -4.9%
India Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 9.7%
India Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 5.5%
India Market Earnings Growth Rate Market Cap Weighted Average 16.6%
India Market Revenue Growth Rate Market Cap Weighted Average 9.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:MRPL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:MRPL Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 661,517 23,647 16,152 3
2020-03-31 651,912 48,817 18,474 3
NSEI:MRPL Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-03-31 734,941 3,513
2018-03-31 490,550 39,660 19,926
2017-03-31 437,665 -11,499 34,726

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Mangalore Refinery and Petrochemicals's earnings are expected to grow significantly at over 20% yearly.
  • Mangalore Refinery and Petrochemicals's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:MRPL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Mangalore Refinery and Petrochemicals Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:MRPL Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 9.20 10.40 8.00 2.00
2020-03-31 10.50 10.50 10.50 1.00
NSEI:MRPL Past Financials Data
Date (Data in INR Millions) EPS *
2019-03-31 1.94
2018-03-31 11.37
2017-03-31 19.81

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Mangalore Refinery and Petrochemicals is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Mangalore Refinery and Petrochemicals's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Mangalore Refinery and Petrochemicals has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Mangalore Refinery and Petrochemicals performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Mangalore Refinery and Petrochemicals's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Mangalore Refinery and Petrochemicals has delivered over 20% year on year earnings growth in the past 5 years.
  • Mangalore Refinery and Petrochemicals's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Mangalore Refinery and Petrochemicals's 1-year earnings growth is negative, it can't be compared to the IN Oil and Gas industry average.
Earnings and Revenue History
Mangalore Refinery and Petrochemicals's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Mangalore Refinery and Petrochemicals Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:MRPL Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 734,940.80 3,512.60
2018-03-31 490,549.99 19,926.45 5,305.28
2017-03-31 437,665.26 34,726.41 4,134.51
2016-03-31 397,301.92 8,237.13 3,392.19
2015-03-31 573,984.69 -18,032.94 2,531.49
2014-12-31 654,964.98 -18,148.88 2,700.29
2014-09-30 694,393.78 -1,682.08 2,675.49
2014-06-30 722,859.60 10,190.30 2,233.20
2014-03-31 715,524.01 6,061.14 2,635.04
2013-12-31 712,671.88 -5,277.61 2,254.37
2013-09-30 706,045.48 -6,396.51 2,153.07
2013-06-30 681,475.60 3,096.90 1,926.60
2013-03-31 656,957.05 -7,569.11 2,125.59
2012-12-31 629,573.26 -930.42 2,119.67
2012-09-30 578,848.26 3,762.78 2,033.67
2012-06-30 532,052.70 -7,846.80 2,027.30

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Mangalore Refinery and Petrochemicals has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Mangalore Refinery and Petrochemicals used its assets less efficiently than the IN Oil and Gas industry average last year based on Return on Assets.
  • Mangalore Refinery and Petrochemicals's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Mangalore Refinery and Petrochemicals's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Mangalore Refinery and Petrochemicals has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Mangalore Refinery and Petrochemicals's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Mangalore Refinery and Petrochemicals's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Mangalore Refinery and Petrochemicals's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Mangalore Refinery and Petrochemicals's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Mangalore Refinery and Petrochemicals's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Mangalore Refinery and Petrochemicals Company Filings, last reported 2 months ago.

NSEI:MRPL Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31
2018-03-31 103,873.92 149,210.18 5,283.69
2017-03-31 98,751.64 154,768.92 5,216.99
2016-03-31 65,864.06 143,951.72 121,992.27
2015-03-31 58,911.91 147,015.59 103,066.45
2014-12-31 60,030.80 83,456.90 106,347.30
2014-09-30 60,030.80 83,456.90 106,347.30
2014-06-30 70,688.80 88,535.70 106,723.30
2014-03-31 70,897.92 98,398.72 107,202.94
2013-12-31 62,495.10 105,962.60 35,751.60
2013-09-30 62,495.10 105,962.60 35,751.60
2013-06-30 64,677.00 69,797.90 16,058.60
2013-03-31 64,676.90 75,576.54 16,058.55
2012-12-31 68,891.60 80,232.80 3,540.60
2012-09-30 68,891.60 80,232.80 3,540.60
2012-06-30 72,292.00 57,517.00 22,619.90
  • Mangalore Refinery and Petrochemicals's level of debt (143.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (116.8% vs 143.6% today).
  • Debt is well covered by operating cash flow (26.6%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 0.9x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Mangalore Refinery and Petrochemicals's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Mangalore Refinery and Petrochemicals has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Mangalore Refinery and Petrochemicals's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.7%
Current annual income from Mangalore Refinery and Petrochemicals dividends. Estimated to be 3.7% next year.
If you bought ₹2,000 of Mangalore Refinery and Petrochemicals shares you are expected to receive ₹34 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Mangalore Refinery and Petrochemicals's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.53%).
  • Mangalore Refinery and Petrochemicals's dividend is below the markets top 25% of dividend payers in India (2.04%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:MRPL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
India Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 17 Stocks 2.5%
India Market Average Dividend Yield Market Cap Weighted Average of 1449 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:MRPL Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 2.30 2.00
2020-03-31 2.05 2.00
NSEI:MRPL Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2019-05-14 1.000 1.618
2018-07-17 3.000 4.080
2018-05-15 3.000 3.382
2017-07-26 6.000 4.907
2017-06-16 6.000 4.877
2014-05-20 0.000 0.000
2014-02-10 0.000 0.000
2013-10-29 0.000 0.000
2013-08-08 0.000 0.000
2013-05-24 0.000 0.000
2012-07-27 1.000 1.726
2011-08-29 1.200 1.975
2010-09-06 1.200 1.665

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mangalore Refinery and Petrochemicals has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Mangalore Refinery and Petrochemicals has only been paying a dividend for 9 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Mangalore Refinery and Petrochemicals's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4x coverage).
X
Income/ dividend checks
We assess Mangalore Refinery and Petrochemicals's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Mangalore Refinery and Petrochemicals afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Mangalore Refinery and Petrochemicals has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Mangalore Refinery and Petrochemicals's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Venky Venkatesh
COMPENSATION ₹7,300,000
AGE 53
TENURE AS CEO 1 years
CEO Bio

Mr. M. Venkatesh, also known as Venky, has been Managing Director and Chief Executive Officer of Mangalore Refinery and Petrochemicals Limited since June 1, 2018 and its Director since April 01, 2015. Mr. Venkatesh served as Director of Refinery at Mangalore Refinery and Petrochemicals Limited since April 01, 2015. He serves as Director at ONGC Mangalore Petrochemicals Ltd. He is associated with MRPL since 1994. Mr. Venkatesh is a Chemical Engineer having wide experience in Refinery Sector.

CEO Compensation
  • Venky's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Venky's remuneration is lower than average for companies of similar size in India.
Management Team

Venky Venkatesh

TITLE
MD, CEO & Director
COMPENSATION
₹7M
AGE
53
TENURE
1 yrs

Dinesh Mishra

TITLE
Company Secretary
COMPENSATION
₹4M

Vijay Bhatnagar

TITLE
Group General Manager of Markrting & BD

Rajeev Kushwah

TITLE
Chief Vigilance Officer
TENURE
2.2 yrs

Puneet Jain

TITLE
Deputy Company Secretary
Board of Directors Tenure

Average tenure and age of the Mangalore Refinery and Petrochemicals board of directors in years:

1.8
Average Tenure
54.5
Average Age
  • The average tenure for the Mangalore Refinery and Petrochemicals board of directors is less than 3 years, this suggests a new board.
Board of Directors

Shashi Shanker

TITLE
Chairman
AGE
57
TENURE
1.7 yrs

Venky Venkatesh

TITLE
MD, CEO & Director
COMPENSATION
₹7M
AGE
53
TENURE
4.2 yrs

C. Manjula

TITLE
Independent Non-Executive Director
COMPENSATION
₹900K
TENURE
2.4 yrs

Balbir Singh

TITLE
Independent Non-Executive Director
COMPENSATION
₹400K
TENURE
1.8 yrs

Sewa Ram

TITLE
Independent Non-Executive Director
COMPENSATION
₹400K
TENURE
1.8 yrs

V. Haran

TITLE
Independent Non-Executive Director
COMPENSATION
₹400K
TENURE
1.8 yrs

G. Patel

TITLE
Independent Non-Executive Director
COMPENSATION
₹400K
TENURE
1.8 yrs

Vinod Shenoy

TITLE
Non-Executive Director
AGE
56
TENURE
2.6 yrs

K. Mahesh

TITLE
Non-Executive Director
AGE
41
TENURE
1.6 yrs

Sanjay Jain

TITLE
Non-Executive Director
TENURE
1.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
X
Management checks
We assess Mangalore Refinery and Petrochemicals's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Mangalore Refinery and Petrochemicals has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Examining Mangalore Refinery and Petrochemicals Limited’s (NSE:MRPL) Weak Return On Capital Employed

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Mangalore Refinery and Petrochemicals: 0.043 = ₹6.7b ÷ (₹320b - ₹166b) (Based on the trailing twelve months to March 2019.) Therefore, Mangalore Refinery and Petrochemicals has an ROCE of 4.3%. … Mangalore Refinery and Petrochemicals's Current Liabilities And Their Impact On Its ROCE Liabilities, such as supplier bills and bank overdrafts, are referred to as current liabilities if they need to be paid within 12 months. … This is a fairly high level of current liabilities, boosting Mangalore Refinery and Petrochemicals's ROCE.

Simply Wall St -

Estimating The Fair Value Of Mangalore Refinery and Petrochemicals Limited (NSE:MRPL)

We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. … Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (₹, Millions) ₹8.73k ₹49.74k ₹15.26k ₹15.38k ₹15.81k ₹16.47k ₹17.33k ₹18.36k ₹19.53k ₹20.85k Growth Rate Estimate Source Analyst x1 Analyst x1 Analyst x2 Est @ 0.75% Est @ 2.79% Est @ 4.22% Est @ 5.22% Est @ 5.92% Est @ 6.41% Est @ 6.75% Present Value (₹, Millions) Discounted @ 20.3% ₹7.26k ₹34.37k ₹8.77k ₹7.34k ₹6.27k ₹5.43k ₹4.75k ₹4.18k ₹3.70k ₹3.28k Present Value of 10-year Cash Flow (PVCF)= ₹85.36b "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = ₹21b × (1 + 7.6%) ÷ (20.3% – 7.6%) = ₹176b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = ₹₹176b ÷ ( 1 + 20.3%)10 = ₹27.69b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is ₹113.05b.

Simply Wall St -

Read This Before Buying Mangalore Refinery and Petrochemicals Limited (NSE:MRPL) For Its Dividend

Today we'll take a closer look at Mangalore Refinery and Petrochemicals Limited (NSE:MRPL) from a dividend investor's perspective. … A high yield and a long history of paying dividends is an appealing combination for Mangalore Refinery and Petrochemicals. … There are a few simple ways to reduce the risks of buying Mangalore Refinery and Petrochemicals for its dividend, and we'll go through these below.

Simply Wall St -

Mangalore Refinery and Petrochemicals (NSE:MRPL) Shareholders Booked A 48% Gain In The Last Five Years

But Mangalore Refinery and Petrochemicals Limited (NSE:MRPL) has fallen short of that second goal, with a share price rise of 48% over five years, which is below the market return. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … During the five years of share price growth, Mangalore Refinery and Petrochemicals moved from a loss to profitability.

Simply Wall St -

Why We Like Mangalore Refinery and Petrochemicals Limited’s (NSE:MRPL) 23% Return On Capital Employed

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Return On Capital Employed (ROCE): What is it? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

What Investors Should Know About Mangalore Refinery and Petrochemicals Limited's (NSE:MRPL) Financial Strength

Mangalore Refinery and Petrochemicals Limited (NSE:MRPL) is a small-cap stock with a market capitalization of ₹145.0b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Assessing first and foremost the financial health is

Simply Wall St -

Why Mangalore Refinery and Petrochemicals Limited (NSE:MRPL) Is A Top Dividend Stock

Mangalore Refinery and Petrochemicals Limited (NSE:MRPL) has pleased shareholders over the past 10 years, by paying out dividends. … The company currently pays out a dividend yield of 3.6% to shareholders, making it a relatively attractive dividend stock. … Let's dig deeper into whether Mangalore Refinery and Petrochemicals should have a place in your portfolio.

Simply Wall St -

Why Mangalore Refinery and Petrochemicals Limited (NSE:MRPL) Looks Like A Quality Company

We'll use ROE to examine Mangalore Refinery and Petrochemicals Limited (NSE:MRPL), by way of a worked example. … Our data shows Mangalore Refinery and Petrochemicals has a return on equity of 17% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should You Be Tempted To Buy Mangalore Refinery and Petrochemicals Limited (NSE:MRPL) At Its Current PE Ratio?

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … Mangalore Refinery and Petrochemicals Limited (NSE:MRPL) is currently trading at a trailing P/E of 7.1, which is lower than the industry average of 11. … View our latest analysis for Mangalore Refinery and Petrochemicals

Simply Wall St -

Are Mangalore Refinery and Petrochemicals Limited's (NSE:MRPL) Interest Costs Too High?

Small and large cap stocks are widely popular for a variety of reasons, however, mid-cap companies such as Mangalore Refinery and Petrochemicals Limited (NSE:MRPL), with a market cap of ₹141.79b, often get neglected by retail investors. … This article will examine MRPL’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth. … See our latest analysis for Mangalore Refinery and Petrochemicals

Simply Wall St -

Company Info

Description

Mangalore Refinery and Petrochemicals Limited manufactures and sells refined petroleum products in India. The company produces and sells hydrogen, liquefied petroleum gas, fuel gas, motor spirit, mixed xylene, naphtha, SKO, high speed diesel, aviation turbine fuel, VGO, furnace oil, asphalt, CRMB, sulphur, and pet coke, as well as bitumen, polypropylene, and other products. It also operates six retail outlets. The company serves mining, construction, power, agriculture, fertilizer, and paint industries. Mangalore Refinery and Petrochemicals Limited also exports its products. The company was founded in 1988 and is based in Mangalore, India. Mangalore Refinery and Petrochemicals Limited is a subsidiary of Oil and Natural Gas Corporation Limited.

Details
Name: Mangalore Refinery and Petrochemicals Limited
MRPL
Exchange: NSEI
Founded: 1988
₹103,140,438,026
1,752,598,777
Website: http://www.mrpl.co.in
Address: Mangalore Refinery and Petrochemicals Limited
Mudapadav,
Post Kuthethoor,
Mangalore,
Karnataka, 575030,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 500109 Equity Shares Mumbai Stock Exchange IN INR 21. Mar 2000
NSEI MRPL Equity Shares National Stock Exchange of India IN INR 21. Mar 2000
Number of employees
Current staff
Staff numbers
0
Mangalore Refinery and Petrochemicals employees.
Industry
Oil and Gas Refining and Marketing
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/18 12:48
End of day share price update: 2019/06/17 00:00
Last estimates confirmation: 2019/05/16
Last earnings filing: 2019/05/14
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.