MRPL’s Financial Highlights for the First quarter Q1 FY’23 Announced
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 247th Meeting held on July 28, 2022, approved its Standalone and Consolidated Unaudited Financial Results for the First Quarter (Q1 FY’23) ended June 30, 2022.
Amalgamation of ONGC Mangalore Petrochemicals Limited (OMPL) with the Company:
• The figures for the quarter ended June 30, 2021, have been restated pursuant to the scheme of Amalgamation (‘the Scheme’) approved by the Ministry of Corporate Affairs (MCA) vide its order No. 24/3/2021-CL-III dated April 14, 2022, and the amalgamating company has been amalgamated with the Company with effect from April 1, 2021 (‘the appointed date’).
Financial Highlights for the First quarter Q1 FY’23 (Q1 FY’22):
• Gross revenue from operations ‘35,915 Crore (Q1 FY’22’ 15,069 Crore)
• Profit before Tax ‘4,153 Crore (Q1 FY’22 Loss before tax’ 299 Crore).
• Profit after Tax of ‘2,707 crore (Q1 FY’22 Loss after tax’ 230 Crore).
• GRM of 24.45 $/bbl (Q1 FY’22 GRM of 4.94 $/bbl).
Physical and Financial Performance:
Major Highlights for the Quarter (Q1 FY’23):
1. MRPL has recorded the highest ever Q1 net throughput of 4.29 MMTPA with capacity utilization of 114.34%, against the previous best of 3.98 MMTPA (capacity utilization of 106.13%) which was achieved in 2017-18 Q1.
2. MRPL consistently achieved capacity utilization of 115.94% in Q3 FY2021-22, 116.74% in Q4 FY2021-22 and 114.34% in Q1 FY2022-23.
3. MRPL achieved the highest ever HSD Dispatch of 737 TMT in the month of May-22. (Previous highest was 665 TMT in the month of Mar-22). This achievement was made possible by the commissioning of New HSD tanks and New HSD product evacuation facilities.
4. MRPL Produced the highest ever 615 TMT “BSVI MS & MS95(Non-BS-VI Quality)” streams in Q1 FY22-23 (Avg 205 TMT per month). MRPL achieved Ever highest “BSVI MS & MS-95 Non-BS-VI Quality)” production of 211 TMT in the month of June-22. (Previous highest was 204 TMT in the month of Mar-22)
5. MRPL has processed new crudes i.e. Kuwait Super Light crude (Kuwait, API48.91) & Khafji crude (Neutral Zone, API-29.07) during the quarter.
6. MRPL has obtained Department of Scientific and Industrial Research (DSIR) recognition for MRPL’s In-house R&D facility in the current quarter. 7. MRPL has commissioned 4 new Retail outlets in the quarter taking the total to 36.