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Neutral Mangalore Refinery & Petrochemicals Ltd For Target Rs.175 By Yes Securities Ltd Weak performance on lower GRMs from higher discounted product exports Mangalore Refinery Petrochemical’s Q2FY25 core performance was weaker with an EBITDA loss of Rs 4.7bn; a USD0.55/bbl of reported GRM (our est. USD3) on lower realizations of exported products more than offsetting marginal Russian crude discounts, despite higher crude sourcing from Russia. As per our calculations, the inventory loss could be at USD2.93/bbl. There was no impact of SAED during the quarter. We maintain...
Neutral Mangalore Refinery & Petrochemicals Ltd For Target Rs.175 By Yes Securities Ltd
Neutral Mangalore Refinery & Petrochemicals Ltd For Target Rs.175 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-10-31 11:46:01 am
Add Mangalore Refinery & Petrochemicals Ltd For Target Rs. 257 By Yes Securities Our View Mangalore Refinery Petrochemical’s Q1FY25 core performance was weaker at USD 3.8/bbl, with an EBITDA of Rs 6.1bn; $4.7/bbl of reported GRM (our est. USD5) on narrowing Russian crude discounts, higher freight due to shutdown of SPM and exports of higher discounted products. As per our calculations, the inventory gains could be at USD0.9/bbl. There was no impact of SAED during the quarter. We maintain ADD rating on stock with an unchanged TP of Rs257. Result Highlights *...
Add Mangalore Refinery & Petrochemicals Ltd For Target Rs. 257 By Yes Securities
Add Mangalore Refinery & Petrochemicals Ltd For Target Rs. 257 By Yes Securities
Source: Yes Securities Ltd.
2024-08-05 11:46:26 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
2024-07-25 01:52:00 pm
ADD Mangalore Refinery & Petrochemicals Ltd. For Target Rs. 257 - Yes Securities In line performance with healthy reported GRMs Our View Mangalore Refinery Petrochemical’s Q4 FY24 core performance was healthy, with an EBITDA of Rs 23.3bn; $11.4/bbl of reported GRM (our est. USD11.2) on narrowing Russian crude discounts. As per our calculations, the inventory losses could be at USD1/bbl. There was an impact of SAED of Rs 0.44bn (USD0.16/bbl) and RTP reduction of Rs 0.36bn (USD0.13/bbl) during the quarter. The company has declared a final dividend of Rs2/shr aft...
ADD Mangalore Refinery & Petrochemicals Ltd. For Target Rs. 257 - Yes Securities
ADD Mangalore Refinery & Petrochemicals Ltd. For Target Rs. 257 - Yes Securities
Source: Yes Securities Ltd.
2024-06-26 11:45:19 am
Neutral Mangalore Refinery & Petrochemicals Ltd For Target Rs 173 By Yes Securities Weaker Core GRMs impact the earnings Our View Mangalore Refinery Petrochemical’s Q3 FY24 core performance was weak, with an EBITDA of Rs 11.6bn; $5/bbl of reported GRM (our est. USD7.8) on narrowing Russian crude discounts. As per our calculations, the inventory losses could be at USD2.5/bbl. There was an impact of SAED of Rs 1.9bn (USD0.68/bbl) and RTP reduction of Rs 2.53bn (USD0.92/bbl) during the quarter which impacted the core performance. The company has declared an interim ...
Neutral Mangalore Refinery & Petrochemicals Ltd For Target Rs 173 By Yes Securities
Neutral Mangalore Refinery & Petrochemicals Ltd For Target Rs 173 By Yes Securities
Source: Yes Securities Ltd.
2024-03-30 09:33:40 am
Mangalore Refinery soars on getting nod to acquire stake in Mangalore SEZ Mangalore Refinery is currently trading at Rs. 227.00, up by 5.55 points or 2.51% from its previous closing of Rs. 221.45 on the BSE. The scrip opened at Rs. 221.80 and has touched a high and low of Rs. 229.20 and Rs. 217.85 respectively. So far 192838 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 289.25 on 19-Feb-2024 and a 52 week low of Rs. 49.82 on 29-Mar-2023. Last one week high and low of the scrip stoo...
Mangalore Refinery soars on getting nod to acquire stake in Mangalore SEZ
Mangalore Refinery soars on getting nod to acquire stake in Mangalore SEZ
Source: Accord Fintech
2024-03-26 11:09:54 am
Buy Mangalore Refinery & Petrochemicals Ltd For Target Rs.151 - Yes Securities Ltd Phenomenal GRMs to help reduce debt ONGC-&-HPCL-promoted Mangalore Refinery and Petrochemicals (MRPL) is India’s largest single-location PSU refinery, a credible play on refining and petchem in South India having 15mtpa capacity, versatile design, complex secondary processing units, high flexibility to process crudes of various APIs. It produces the full range of petroleum products such as naphtha, LPG, motor spirits, high-speed diesel, kerosene, aviation turbine fuel, sulphur, x...
Buy Mangalore Refinery & Petrochemicals Ltd For Target Rs.151 - Yes Securities Ltd
Buy Mangalore Refinery & Petrochemicals Ltd For Target Rs.151 - Yes Securities Ltd
Source: Yes Securities Ltd
2024-01-22 06:29:00 pm