Mangalore Refinery and Petrochemicals Limited

2021-08-29T09:50:04Z

2409:4065:D91:759:DCB7:3A5:5759:A12B:

{{short description|Subsidiary of Oil and Natural Gas Corporation}}
{{More citations needed|date=January 2018}}
{{Use Indian English|date=February 2017}}
{{Use dmy dates|date=November 2020}}
{{Infobox company
| name = Mangalore Refinery and Petrochemicals Limited
| logo = MRPL official Logo.svg
| logo_size = 250px
| logo_alt = MRPL Logo
| type = [[Subsidiary]] of [[Oil and Natural Gas Corporation]]
| traded_as = {{ubl|{{BSE|500109}}|{{NSE|MRPL}}}}
| industry = [[Oil and gas]]
| foundation = {{start date and years ago|1988|03|07|df=yes|p=yes}} <ref name=stake>{{Cite web|last=Limited|first=Mangalore Refinery and Petrochemicals|title=stake holders|url=https://www.mrpl.co.in/stake-holders|url-status=live}}</ref>
| location = Mudapadav, Kuthethoor P.O., Via Katipalla
| hq_location_city = [[Mangalore]]
| hq_location_country = India <ref name=stake/>
| key_people = Shashi Shankar , (Chairman) <br> M. Venkatesh<br> ([[managing director|MD]])
| products = [[Petroleum]], [[Petrochemical]]s and [[Natural gas]]
| revenue = {{Decrease}} {{INRConvert|60062.02|c}} <ref name=pnl>{{Cite web|title=Mangalore Refinery and Petrochemicals Consolidated Profit & Loss account, Mangalore Refinery and Petrochemicals Financial Statement & Accounts|url=https://www.moneycontrol.com/financials/mangalorerefineryandpetrochemicals/consolidated-profit-lossVI/MRP|access-date=2020-07-29|website=www.moneycontrol.com|language=en}}</ref>
| revenue_year = 2020
| operating_income = {{Decrease}} {{INRConvert|-5399.56|c}} <ref name=pnl/>
| income_year = 2020
| net_income = {{Decrease}} {{INRConvert|-3352.92|c}} <ref name=pnl/>
| net_income_year = 2020
| assets = {{Decrease}} {{INRConvert|30641.91|c}} <ref name=bs>{{Cite web|title=Mangalore Refinery and Petrochemicals Consolidated Balance Sheet, Mangalore Refinery and Petrochemicals Financial Statement & Accounts|url=https://www.moneycontrol.com/financials/mangalorerefineryandpetrochemicals/consolidated-balance-sheetVI/MRP|access-date=2020-07-29|website=www.moneycontrol.com|language=en}}</ref>
| assets_year = 2020
| equity = {{Decrease}} {{INRConvert|6834.71|c}} <ref name=bs/>
| equity_year = 2020
| owner = [[Oil and Natural Gas Corporation]] (98.58%)
| divisions = [[ONGC Mangalore Petrochemicals Limited]] <br> Shell MRPL Aviation
| homepage = {{url|www.mrpl.co.in}}
}}

'''Mangalore Refinery and Petrochemicals Limited''' ('''MRPL'''), is a wholly owned [[subsidiary]] of [[Oil and Natural Gas Corporation]].<ref name=":0" /> Established in 1988, the refinery is located at [[Katipalla]], north from the centre of [[Mangalore]]. The refinery was established after displacing five villages, namely, Bala, Kalavar, Kuthetoor, [[Katipalla]], and [[Adyapady|Adyapadi]].<ref name="stake"/>

The refinery has a versatile design with high flexibility to process crudes of various [[API gravity|API gravities]] with a high degree of automation. MRPL has a design capacity to process 15 million metric tonnes per annum and is the only refinery in India to have two hydrocrackers producing premium diesel (high [[Cetane]]).<ref name=":1">{{Cite web|last=Limited|first=Mangalore Refinery and Petrochemicals|title=Profile|url=https://mrpl.co.in/profile|url-status=live}}</ref> It also has a Polypropylene unit with a capacity of 440,000 million [[tonne]]s per year.<ref>{{Cite web|last=Limited|first=Mangalore Refinery and Petrochemicals|title=pp Unit|url=https://mrpl.co.in/pp_unit|url-status=live}}</ref> It is one among the two refineries in India to have two CCRs producing high [[Octane rating|octane]] [[unleaded petrol]]. Currently, the [[Oil refinery|refinery]] processes around 14.65 million tonnes of crude per year. The company revenues stood at ₹60,062.02 crore (US$8.4 billion) in 2020.<ref name="pnl"/>

MRPL, which was a joint sector company, become a [[Public Sector Undertaking|PSU]] subsequent to the acquisition of a majority of its shares by [[Oil and Natural Gas Corporation|ONGC]]. As of June 2020, 71.63% shares were held by [[Oil and Natural Gas Corporation|ONGC]], 16.95% shares were held by [[Hindustan Petroleum|HPCL]], and the remaining shares were held by financial institutions and the general public.<ref name=":0">{{Cite web|title=Latest Shareholding Pattern - Mangalore Refinery And Petrochemicals Ltd.|url=https://trendlyne.com/equity/share-holding/885/MRPL/latest/mangalore-refinery-and-petrochemicals-ltd/|access-date=2020-07-29|website=trendlyne.com}}</ref> MRPL has been declared a [[Miniratnas|Miniratna]] (mini jewel), by the [[Government of India]] in 2007.<ref name=":2">{{Cite news|title=Mangalore Refinery And Petrochemicals Ltd.|work=Business Standard|url=https://www.business-standard.com/company/m-r-p-l-2496/information/company-history|access-date=2020-07-29}}</ref>

Before its acquisition by [[ONGC]] in March 2003, MRPL was a joint venture oil refinery promoted by [[Hindustan Petroleum|Hindustan Petroleum Corporation Limited]] (HPCL), a public sector company and IRIL & associates (AV Birla Group).<ref name=":2" /> MRPL was set up in 1988 with an initial processing capacity of 3.0 million metric tonnes per annum which was later expanded to the present capacity of 15 million metric tonnes per annum.<ref name=":1" />

The refinery was conceived to maximise middle distillates, with the capability to process light to heavy and sour to sweet crudes with 24 to 46 API gravity. On 28 March 2003, ONGC acquired A.V. Birla Group's stake and further infused equity capital of ₹600 crores making MRPL a majority-held subsidiary of ONGC.<ref name=":2" /><ref name=":1" /> The lenders also agreed to the [[debt restructuring]] package (DRP) proposed by ONGC, which included, ''inter alia'', conversion of up to ₹3,65,54,884 of the company's loans into equity. Subsequently, ONGC acquired the equity allotted to the lenders pursuant to the DRP raising [[Oil and Natural Gas Corporation|ONGC's]] holding in MRPL to 71.63%.<ref name=":0" />

On 30 August 2018, MRPL was given approval for a merger with [[Hindustan Petroleum Corporation|HPCL]] by [[ONGC]].<ref>https://www.thehindu.com/business/mrpl-to-merge-with-hpcl/article24823487.ece</ref><ref>{{Cite news|date=2018-05-23|title=HPCL, Mangalore Refinery merger in FY'19: CMD Mukesh Kumar Surana|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/energy/oil-gas/hpcl-mangalore-refinery-merger-in-fy19-cmd-mukesh-kumar-surana/articleshow/64286919.cms?from=mdr|access-date=2020-06-24}}</ref>

==See also==

* [[Oil and Natural Gas Corporation]]
* [[List of oil refineries in India]]
* [[Economy of Mangalore]]

==References==
{{Reflist}}
*http://newskarnataka.com/mangalore/20000-youths-to-benefit-from-plastic-and-polymer-park-in-mangaluru

==External links==
* [http://www.mrpl.co.in/ Official Website of the MRPL]

{{Energy companies and organizations in India}}
{{Oil refineries in India}}
{{Public Sector Undertakings in India}}

{{authority control}}

[[Category:Oil and gas companies of India]]
[[Category:Oil refineries in India]]
[[Category:Government-owned companies of India]]
[[Category:Companies based in Mangalore]]
[[Category:Energy in Karnataka]]
[[Category:Oil and Natural Gas Corporation]]
[[Category:Petrochemical companies of India]]
[[Category:Non-renewable resource companies established in 1988]]
[[Category:Indian companies established in 1988]]
[[Category:Energy companies established in 1988]]
[[Category:ONGC buildings and structures]]
[[Category:1988 establishments in Karnataka]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

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Mangalore Refinery and Petrochemicals Limited