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Shareholding Info
  • Promoters
    88.58 %
  • Foreign institutions-FII
    2.55 %
  • Other domestic institutions
    0.24 %
  • Retail and other
    7.3 %
  • Mutual Funds
    1.33 %


Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of the Oil and Natural Gas Corporation (ONGC), was founded in 1988. It is a Category 1 Miniratna Central Public Sector Enterprises. MRPL comes under the Ministry of Petroleum & Natural Gas.

It is located in the Dakshina Kannada district of Karnataka.

Before ONGC acquired it in March 2003, MRPL operated as a joint venture oil refinery formed by Hindustan Petroleum Corporation Limited (HPCL) and Indian Rayon and Industries Limited (IRIL) of the AV Birla Group. On March 28, 2003, ONGC acquired the entire shareholding of the AV Birla Group. ONGC also infused capital of ₹600 crore, thereby establishing MRPL as its wholly-owned subsidiary.

It was established with an initial processing capacity of 3.69 MMTPA and later expanded to its current capacity of 15 MMTPA. The company commissioned its 3 million tonnes refinery in 1997 and by 2000 its refining capacity reached 12 million tonnes per annum. In 2023, MRP became the single-largest single location PSU refinery in India.

The market capitalisation of Mangalore Refinery and Petrochemicals Limited stood at over ₹21,600 crore as of December 20, 2023. MRPL share price has gained nearly 294% in the last three years.

MRPL Business Operations

The MRPL refinery was established to optimise distillates, capable of processing a range of crude oils. Currently, the 15.0MMTPA (million metric tonnes per annum) refinery has a versatile design with secondary processing units to process crudes of various APIs, delivering a variety of quality products.

MRPL's refinery can produce a wide array of petroleum products including naphtha, LPG, motor spirit, high-speed diesel, kerosene, aviation turbine fuel, sulphur, xylene, bitumen, along with pet coke and polypropylene.

The 440 KTA novolen gas-phase polypropylene plant at MRPL is equipped to manufacture a comprehensive range of homopolymer grades. MRPL also operates an aromatic complex, a petrochemical unit situated in the Mangalore Special Economic Zone (MSEZ), capable of yielding 0.905 MMTPA of para-xylene and 0.273 MMTPA of benzene.

MRPL owns two captive jetties in New Mangalore Port Trust, a single point mooring facility, an oil loading facility, rail wagon loading silos for pet coke and truck loading silos for pet coke. It maintains marketing infrastructure depots in Kasargod (Kerala), Hindupur (Andhra Pradesh), and Hosur (Tamil Nadu).

Shell MRPL Aviation Fuels and Services Limited is a joint venture between MRPL and Shell Gas BV (Shell), a subsidiary of Royal Dutch Shell Plc of Netherlands. SMA specialises in marketing aviation turbine fuel (ATF) to both domestic and international airlines. Currently, SMA procures ATF from the MRPL Refinery Complex and distributes it to various airports such as Bengaluru, Goa, Mangalore, Hyderabad and Chennai.

Financial Highlights

  • MRPL's revenue from operations for FY 2022-23 stood at ₹1,24,736 crore, up 44.8% from ₹86,094.3 crore in FY 2021-22.
  • The company earned profit after tax (PAT) of ₹2,638 crore during the financial year 2022-23 as against ₹2,955 crore in the previous fiscal.
  • In FY23, the earnings before interest and taxes (EBIT) stood at ₹5,502 crore, down 9.7% from ₹3,911 crore in the preceding financial year.
  • The company's earnings per share (EPS) stood at ₹15.15 in FY23 compared to ₹16.88 in the previous financial year.
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