Mangalore Refinery and Petrochemicals Limited

NSEI:MRPL Stock Report

Market Cap: ₹269.1b

Mangalore Refinery and Petrochemicals Valuation

Is MRPL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MRPL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MRPL (₹154.34) is trading below our estimate of fair value (₹186.19)

Significantly Below Fair Value: MRPL is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MRPL?

Key metric: As MRPL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MRPL. This is calculated by dividing MRPL's market cap by their current earnings.
What is MRPL's PE Ratio?
PE Ratio29.8x
Earnings₹9.07b
Market Cap₹269.11b

Price to Earnings Ratio vs Peers

How does MRPL's PE Ratio compare to its peers?

The above table shows the PE ratio for MRPL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.2x
HINDPETRO Hindustan Petroleum
19.3x30.3%₹807.7b
500110 Chennai Petroleum
12.9x-5.0%₹90.6b
BPCL Bharat Petroleum
9.7x3.5%₹1.3t
IOC Indian Oil
10.9x18.3%₹1.9t
MRPL Mangalore Refinery and Petrochemicals
29.8x53.1%₹269.1b

Price-To-Earnings vs Peers: MRPL is expensive based on its Price-To-Earnings Ratio (29.8x) compared to the peer average (13.2x).

Price to Earnings Ratio vs Industry

How does MRPL's PE Ratio compare vs other companies in the IN Oil and Gas Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
533704 Essar Shipping
1.6xn/aUS$98.55m
No more companies available in this PE range
MRPL 29.8xIndustry Avg. 20.2xNo. of Companies5PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MRPL is expensive based on its Price-To-Earnings Ratio (29.8x) compared to the Indian Oil and Gas industry average (20.2x).

Price to Earnings Ratio vs Fair Ratio

What is MRPL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MRPL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio29.8x
Fair PE Ratio25.8x

Price-To-Earnings vs Fair Ratio: MRPL is expensive based on its Price-To-Earnings Ratio (29.8x) compared to the estimated Fair Price-To-Earnings Ratio (25.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MRPL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹154.34
₹150.00
-2.8%
12.7%₹169.00₹131.00n/a2
Nov ’25₹151.50
₹150.00
-1.0%
12.7%₹169.00₹131.00n/a2
Oct ’25₹180.90
₹150.00
-17.1%
13.3%₹170.00₹130.00n/a2
Sep ’25₹207.37
₹150.00
-27.7%
13.3%₹170.00₹130.00n/a2
Aug ’25₹221.25
₹150.00
-32.2%
13.3%₹170.00₹130.00n/a2
Jul ’25₹215.92
₹156.50
-27.5%
11.8%₹175.00₹138.00n/a2
Jun ’25₹203.15
₹156.50
-23.0%
11.8%₹175.00₹138.00n/a2
May ’25₹250.15
₹161.00
-35.6%
11.8%₹180.00₹142.00n/a2
Apr ’25₹228.75
₹120.50
-47.3%
12.0%₹135.00₹106.00n/a2
Mar ’25₹229.15
₹120.50
-47.4%
12.0%₹135.00₹106.00n/a2
Feb ’25₹178.65
₹110.33
-38.2%
16.9%₹135.00₹90.00n/a3
Jan ’25₹132.75
₹102.00
-23.2%
8.5%₹110.00₹90.00n/a3
Dec ’24₹121.80
₹102.00
-16.3%
8.5%₹110.00₹90.00n/a3
Nov ’24₹103.90
₹89.67
-13.7%
9.6%₹100.00₹79.00₹151.503
Aug ’24₹83.70
₹84.00
+0.4%
7.1%₹90.00₹78.00₹221.252
Jul ’24₹77.05
₹74.50
-3.3%
6.0%₹79.00₹70.00₹215.922
Jun ’24₹65.05
₹66.33
+2.0%
6.8%₹70.00₹60.00₹203.153
May ’24₹64.25
₹59.00
-8.2%
10.4%₹66.00₹51.00₹250.153
Apr ’24₹52.55
₹64.00
+21.8%
4.4%₹66.00₹60.00₹228.753
Mar ’24₹51.35
₹64.00
+24.6%
4.4%₹66.00₹60.00₹229.153
Feb ’24₹55.80
₹63.00
+12.9%
4.8%₹66.00₹60.00₹178.652
Jan ’24₹56.10
₹59.00
+5.2%
1.7%₹60.00₹58.00₹132.752
Dec ’23₹58.15
₹59.00
+1.5%
1.7%₹60.00₹58.00₹121.802
Nov ’23₹54.15
₹74.00
+36.7%
21.6%₹90.00₹58.00₹103.902

Analyst Forecast: Target price is lower than the current share price.

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