Mangalore Refinery & Petrochemicals Ltd. Hits New 52-Week High at Rs.196.7

Stock Performance and Market Context

MRPL’s new peak price of Rs.196.7 was recorded on 11 Feb 2026, despite a slight intraday dip of 0.28%. The stock continues to trade comfortably above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling sustained upward momentum. This technical strength underscores the stock’s resilience and investor confidence in its fundamentals.

In comparison, the broader market benchmark, the Sensex, opened flat and is currently trading marginally lower by 0.04% at 84,237.96 points. The Sensex remains 2.28% shy of its own 52-week high of 86,159.02, while maintaining a bullish stance as it trades above its 50-day moving average, which itself is positioned above the 200-day moving average. The index has also recorded a 3.31% gain over the past three weeks, indicating a positive market backdrop that has supported MRPL’s rally.

Strong Financial Metrics Driving the Rally

MRPL’s impressive price performance is underpinned by robust financial results and operational metrics. The company has demonstrated healthy long-term growth, with net sales expanding at an annualised rate of 22.62% and operating profit growing at 25.12%. Notably, net profit surged by 131.72% in the December 2025 quarter, marking two consecutive quarters of positive results that have bolstered investor confidence.

The company’s operating profit to interest ratio stands at a high 12.72 times, reflecting strong earnings relative to interest expenses. Additionally, cash and cash equivalents reached a record Rs.874.25 crores in the half-year period, while the debt-to-equity ratio has improved to a low 0.81 times, indicating a more conservative capital structure compared to the sector average.

Valuation and Comparative Analysis

MRPL’s return on capital employed (ROCE) stands at 10.4%, indicating efficient utilisation of capital to generate profits. The company’s enterprise value to capital employed ratio is 1.9, suggesting a fair valuation relative to its capital base. Importantly, the stock is trading at a discount compared to its peers’ average historical valuations, which may have contributed to its appeal among value-conscious investors.

Over the past year, MRPL has delivered a total return of 65.26%, while its profits have increased by 162.6%, resulting in a price-to-earnings-to-growth (PEG) ratio of 0.1. This low PEG ratio highlights the stock’s attractive valuation relative to its earnings growth, reinforcing the strength of its recent price appreciation.

Shareholding and Market Position

The company’s majority shareholding remains with promoters, providing stability and continuity in management. MRPL’s market capitalisation grade is rated 3, reflecting its mid-cap status within the oil sector. The company’s mojo score has recently improved to 74.0, with a mojo grade upgrade from Hold to Buy on 27 Jan 2026, signalling enhanced confidence in its fundamentals and market positioning.

Sector and Industry Dynamics

Operating within the oil industry and sector, MRPL’s performance is aligned with broader sectoral trends. The oil sector has seen renewed interest amid fluctuating crude prices and improving demand fundamentals. MRPL’s ability to outperform the sector and the broader market index over the past year underscores its competitive positioning and operational efficiency.

Long-Term Performance and Risk Considerations

MRPL’s market-beating performance extends beyond the last year, having outperformed the BSE500 index over the last three years, one year, and three months. This consistent outperformance highlights the company’s ability to generate shareholder value over multiple time horizons.

However, it is important to note that MRPL remains a company with a relatively high average debt-to-equity ratio of 2.41 times, which is a factor to consider when analysing its financial risk profile. Despite this, the recent improvement in the half-year debt-to-equity ratio to 0.81 times indicates progress in managing leverage.

Summary of Key Metrics

To summarise, MRPL’s new 52-week high of Rs.196.7 is supported by:

• One-year stock return of 65.26% versus Sensex’s 10.38%
• Net sales growth at 22.62% annually
• Operating profit growth at 25.12% annually
• Net profit increase of 131.72% in the latest quarter
• Strong operating profit to interest coverage at 12.72 times
• Record cash and cash equivalents of Rs.874.25 crores
• Improved debt-to-equity ratio at 0.81 times
• ROCE of 10.4% and fair valuation metrics

These factors collectively illustrate the company’s robust financial health and market standing, which have propelled the stock to its current peak.

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