Image: “MRPL Refinery” by DRajkhowa is licensed under CC BY-SA 4.0.

Mangaluru: The Board of Directors of Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary company of ONGC and Schedule “A” Mini Ratna Category I Company during its 262nd Meeting held on May 03, 2024, approved it’s Standalone and Consolidated Audited Financial Results for the fourth quarter (Q4 FY 2023-24) and Year (FY 2023-24) ended March 31, 2024.

Major Highlights for the fourth Quarter (Q4 FY 2023-24):
-Highest crude throughput in a Quarter 4.51 MMT (Previous best was 4.42 MMT during Q4 FY 2015-16).
-KGD6 Crude from Ruby FPSO off Kakinada, India (API-45.50) was processed for the first time in the month of February 2024.
-KG-D98 Crude (API-33.77, India) from East Godavari block, was processed for the first time in the month of March 2024.
• First parcel of Mineral Turpentine Oil (MTO) was delivered to the customer during the month of March 2024.
• Ever Highest ATF production in the Month of January 2024 i.e. 222.69 TMT (Previous Best was 209.01 TMT in October 2022).
• Ever Highest Polypropylene production in the month of March 24 i.e. 43.73 TMT (Previous best was 43.27 TMT in October 2021).
• Ever Highest Reformate production in the month of January 2024 i.e. 104.23 TMT (Previous best was 104.11 TMT in December 2023).
• Ever Highest Reformate dispatch in the month of February 2024 i.e. 130.43 TMT (Previous Highest was 102.24 TMT in the Month of July 2023).
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• Highest ATF dispatch recorded in the month of February 2024 of 227.52 TMT (Previous highest was 222.10 TMT in March 2023).
• MRPL has touched a significant milestone in its retail footprint expansion aspirations by commissioning its 103 rd HiQ Retail Outlet.

Financial Highlights for the Fourth quarter Q4 FY 2023-24 (Q4 FY 2022- 23):
• Revenue from operations ₹ 29,190 Crore (Q4 FY 2022-23 ₹ 29,401 Crore).
• Profit Before Tax ₹ 1,766 Crore (Q4 FY 2022-23 Profit Before Tax ₹ 2,950 Crore).
• Profit After Tax of ₹ 1,137 Crore (Q4 FY 2022-23 Profit After Tax ₹ 1,908 Crore).
• GRM of US$ 11.35 per bbl (Q4 FY 2022-23 GRM of US$ 15.12 per bbl).

Financial Highlights for the Year ended FY 2023-24 (FY 2022-23):

• Revenue from operations ₹ 1,05,223 Crore (FY 2022-23 ₹ 1,24,736 Crore)
• Profit before Tax ₹ 5,521 Crore (FY 2022-23 Profit before tax ₹ 4,239 Crore).
• Profit after Tax of ₹ 3,596 Crore (FY 2022-23 Profit after tax ₹ 2,638 Crore).
• GRM of US$ 10.36 per bbl (FY 2022-23 GRM of US$ 9.88 per bbl).
• Total reduction in interest bearing Long Term Borrowings: ₹ 5,058 Crore
(i.e. from ₹ 14,837 Crore as on March 31, 2023 to ₹ 9,779 Crore as on March 31, 2024).
• Debt Equity Ratio improved from 1.70 as on March 31, 2023 to 0.94 as on March 31, 2024.
Dividend

On January 22, 2024, the Company had declared an interim dividend of ₹ 1.00 per share (10 per cent) which has since been paid.

In addition to above for the year ended March 31, 2024, the Board of Directors has proposed a final dividend of ₹ 2 per share (20 per cent) be paid on fully paid-up equity shares.

This final dividend shall be subject to approval by shareholders at the ensuing Annual General Meeting.