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Sell MRPL Ltd For Target Rs. 131 By Motilal Oswal Financial Services Ltd Disappointing performance continues * MRPL reported a substantial miss vs. our estimates in 2QFY25 due to a weak refining performance, with GRM coming in at USD0.5/bbl (our estimate: USD5/bbl). The weakness in 2QFY25 financial performance was likely a result of weaker core GRM as well as inventory loss coming in higher than our estimate (USD2.5/bbl). * Following the weak 2QFY25 result, we cut our FY25 EBITDA by 50% as we temper our GRM assumption to USD4.5/bbl (earlier: USD6.6/bbl). We ...
Sell MRPL Ltd For Target Rs. 131 By Motilal Oswal Financial Services Ltd
Sell MRPL Ltd For Target Rs. 131 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-10-31 01:54:02 pm
Trader Vitol sells Venezuelan oil to Indian refiners, trade sources say Two Indian state refiners have bought 2 million barrels of Venezuelan crude from trading house Vitol for November delivery, trade sources said, as shipments to what previously was Venezuela's second largest oil market continue to grow. Indian refiners resumed imports of Venezuelan crude earlier this year after the U.S. Treasury Department authorized transactions for exports of crude and fuel despite sanctions targeted at President Nicolas Maduro's government. India's top ref...
Trader Vitol sells Venezuelan oil to Indian refiners, trade sources say
Trader Vitol sells Venezuelan oil to Indian refiners, trade sources say
Source: Reuters
2024-10-09 09:04:22 am
Sell Mangalore Refinery and Petrochemicals Ltd For Target Rs. 170 By Motilal Oswal Financial Services Weak GRM, utilization dent 1Q performance * MRPL delivered a substantial miss vs. our estimates in 1QFY25 due to a weak refining performance, with GRM/throughput coming in 32%/7% below our estimates. As a result, EBITDA came in 56% below our estimate. In Jul’24, Singapore GRM (SG GRM) has been only marginally up at USD4/bbl vs. USD3.5/bbl in 1QFY25 and as such, we have trimmed our 2QFY25 earnings estimates, leading to a 32% cut in our FY25E PAT numbers. * We build in GRM...
Sell Mangalore Refinery and Petrochemicals Ltd For Target Rs. 170 By Motilal Oswal Financial Services
Sell Mangalore Refinery and Petrochemicals Ltd For Target Rs. 170 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2024-07-29 11:38:17 am
Sell MRPL Ltd. For Target Rs.135 By Motilal Oswal Financial Services Downgrade to sell amid volatile performance MRPL missed our EBITDA and PAT estimates due to lower-than-estimated reported GRM of USD5/bbl in 3QFY24. Refining throughput was in line with our estimate at 4.4mmt. Phase 3 units and Hydrocracker Unit 1 safely restarted during the quarter post mandatory maintenance shutdown for 45 days in 2QFY24. Opex also moderated during the quarter after being adversely impacted in 2Q because of the shutdown and reduced throughput. MRPL clocked its high...
Sell MRPL Ltd. For Target Rs.135 By Motilal Oswal Financial Services
Sell MRPL Ltd. For Target Rs.135 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2024-03-29 10:13:14 am