Mangalore Refinery Reports Strong Financial Metrics Amid Ongoing Debt Challenges

Mangalore Refinery & Petrochemicals (MRPL) has recently undergone an adjustment in evaluation, reflecting notable shifts in its financial metrics. The company reported a positive financial performance for the quarter ending September 2025, with significant improvements in key indicators. The operating profit to interest ratio reached a high of 6.79 times, while cash and cash equivalents stood at Rs 8,742.50 crore, marking a strong liquidity position. Additionally, the profit before depreciation, interest, and tax (PBDIT) was recorded at Rs 1,488.60 crore, and the profit after tax (PAT) was Rs 627.36 crore, showcasing robust earnings.
On the valuation front, MRPL's metrics indicate a very attractive position, with a price-to-earnings (PE) ratio of 23.81 and an enterprise value to EBITDA of 12.15. The company’s enterprise value to capital employed ratio is notably low at 0.30, suggesting a favorable valuation relative to its assets.

Despite these positive indicators, MRPL has faced challenges, including a high debt-to-equity ratio of 2.30 times and a lower operating cash flow of Rs 1,877.90 crore. The stock has underperformed the broader market over the past year, generating a return of -16.58% compared to the BSE500's 0.54%.

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