MRPL Financial Results approved by the Board of Directors

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 254th Meeting held on April 28, 2023, approved it’s Standalone and Consolidated Audited Financial Results for the Fourth Quarter (Q4 FY 2022-23) and Year ended (FY 2022-23) ended March 31, 2023.

Major Highlights for the Year FY 2022-23:

Highest Ever Throughput of 17.14 MMT.
Highest Ever Turnover of Rs 124,686 Crore.
During the year, 31 Retail Outlets were added (Total Retail outlets as on March 31, 2023, is 63).

Financial Highlights for the Fourth quarter Q4 FY 2022-23 (Q4 FY 2021-22):

Gross revenue from operations Rs 29,401 Crore (Q4 FY 2021-22 % 28,239 Crore), up by 4%.
Profit before Tax Rs 2,950 Crore (Q4 FY 2021-22 Profit before tax Rs 2,323 Crore), up by 27%.
Profit after Tax of Rs 1,908 Crore (Q4 FY 2021-22 Profit after tax 3,008 Crore).
GRM of 15.12 $/bbl (Q4 FY 2021-22 GRM of 15.28 $/bbl).

Financial Highlights for the year ended FY 2022-23 (FY 2021-22):

Gross revenue from operations Rs 124,736 Crore (FY 2021-22 86,094 Crore), up by 45%.
Profit before Tax T 4,239 Crore (FY 2021-22 Profit before tax Rs 2,708 Crore), up by 57%.
Profit after Tax of Rs 2,638 Crore (FY 2021-22 Profit after tax Rs 2,955 Crore)
GRM of 9.88 $/bbl (FY 2021-22 GRM of 8.60 $/bbl).

Windfall tax on export of MS, HSD and ATF & related impact:

The Government of India has levied Special Additional Excise Duty (SAED) and Road and Infrastructure Cess (RIC) on export of High Speed Diesel (HSD), Aviation Turbine Fuel (ATF) and Motor Spirit (MS) effective from July 1, 2022 and correspondingly there is also decrease in Domestic Refinery Transfer Price (RTP). The impact on the financials of the company on account of the same is given below.

The company has suitably represented to the Govt. of India through the administrative ministry (MoPNG) in this regard.