Mangalore Refinery and Petrochemicals Limited (MRPL) is a Category-1 Miniratna CPSE under the Ministry of Petroleum and Natural Gas. MRPL shares closed up 9.98 per cent on BSE 89.25. Stock sets new 52-week high 89.25 in trading today, 18th May 2022 and the stock closed at upper circuit of 89.25 (10 per cent) in the closing session today. Shares of MRPL are climbing with a gain of 25.05 percent in the last 5 days and the stock has even surpassed the BSE Sensex today, which is down 0.20 percent.
In the fourth quarter of FY22, the firm earned 3,008.18 crore, up from 267.51 crore in March 2021. In Q4 FY22, net sales grew 35.76 per cent year-on-year 28,228 crore, from above 20,793 crore in Q4 FY21. In Q4 FY22, the firm earned Profit Before Tax (PBT) up 442.76 per cent from Rs 2,323 crore 428.16 crore in Q4 FY21. In March 2022, the company’s revenue from operations was 28,227.78 crore, with an EBITDA of 2941 crores. MRPL’s Earnings Per Share (EPS) increased to Rs. 17.16 in March 2022 from Rs. 1.53 in March 2021.
Consistent GRMs at higher levels, higher capacity utilization, and a de-leveraging balance sheet are key triggers for ICICI Securities to reach the target price. 90% in the 12-month target period for MRPL shares. However, according to ICICI Securities, the main risks to the stock include lower-than-expected crude throughput and lower-than-expected refining margins.
“Product cracks of transportation fuels are currently trading at multi-quarter highs. GRM is likely to benefit from a favorable global refining outlook and MRPL is expected to report decent earnings in the near term. We revise our rating on the stock from SELL to BUY. We roll over the valuation to FY24E and pass the price to MRPL 90/share i.e. ~1x FY24E BV),” the brokerage said in a note.
MRPL is a multibagger stock in 2022 whose share price is increasing by 43.80 to 89.25, resulting in a multi-bagger return of 103.77 per cent year-on-year (YTD). out of stock 44.15 over the current market price in the last six months, marking a multi-bagger gain of 102.15 per cent. The stock has risen more than 140% from its 52-week low 37 more The stock is now trading above its 5 day, 10 day, 12 day, 20 day, 26 day, 50 day, 100 day and 200 day moving averages.
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