New Delhi, October 28th, 2009
MRPL Maintains Positive Performance in depressed margins and domestic demand scenario in Q2 2009-10
MRPL posts Profit After Tax at Rs.180 crore (Rs.25 Crore)
The Board of Directors of Mangalore Refinery and Petrochemicals Limited, a subsidiary company of ONGC and a category I Mini Ratna, approved un-audited financial results for the 2nd quarter of 2009-10.
A. FINANCIAL PERFORMANCE: (Rs. In Crore)
| Particulars |
Q2 |
Variation |
| 2009-10 |
2008-09 |
| Turnover |
8932 |
14662 |
39% |  |
| PBIDT |
411 |
178 |
131% |  |
| PBT |
284 |
44 |
545% | |
| PAT |
180 |
25 |
620% | |
| GRM (US$ / BBL) |
3.59 |
2.31 |
55% | |
| Avg. Product Realization (US$ / BBL) |
77 |
128 |
40% | |
| Inventory Gain / (Loss) (US$ / BBL) |
1.40 |
8.52 |
|
B. PHYSICAL PERFORMANCE: (Qty. in MMT)
| Particulars |
Q2 |
Variation |
| 2009-10 |
2008-09 |
| Throughput |
3.19 |
3.29 |
3% | |
| Dispatches |
2.87 |
3.00 |
4% | |
| Fuel & Loss ( %) |
6.67 |
6.44 |
4% | |
C. PHASE III: REFINERY PROJECT:
The project is progressing as targeted and the physical progress of work has reached 19.9% (against the targeted progress of 19.7%) as on 30.09.2009. The orders for all the major process units and also the long lead critical items have been placed. The total value of orders committed so far amount to Rs. 8781 crore as on 30th September 2009.
Polypropylene Unit:
The Board of MRPL and ONGC have approved setting up of 440 KTPA Polypropylene unit, for producing Polypropylene out of Propylene generated from Petrochemical Fluidized Catalytic Cracking unit (PFCCU) being setup as a part of Phase III Refinery project. The polypropylene plant in the Refinery complex will trigger investments in the Mangalore SEZ and in Southern region for downstream. The estimated capital outlay for the project is Rs.1804 Crore. The project is expected to be mechanically completed by 31st January 2012. M/s. Engineers India Limited (EIL) has been engaged to implement this project under Open Book Execution (OBE) Methodology.
D. OTHERS:
GOHDS Revamp:
The GOHDS revamp project scheduled for completion by March 2010 to meet the increased Diesel production of Euro III / IV grade by April 2010, is progressing as per schedule. The revamp of CDU / VDU unit is also progressing as per the schedule.
SPM Implementation:
The draft feasibility report for a single point mooring facility (SPM) off New Mangalore Port Trust has been received and the same is under independent financial evaluation.
E. AWARDS, RECOGNITION AND ACHEIVEMENTS:
MRPL was adjudged as 'MOST SAFE REFINERY IN THE LAST THREE YEARS' by the Oil Industry Safety Directorate (OSID). MRPL also received the 'Oil Industry Safety Award' for second best performer in the Refineries for 2008'09. These awards assume utmost significance as it recognizes MRPL's sustained efforts to excel in Safety performance.
F. RAJASTHAN CRUDE (MANGALA CRUDE) - PROCESSED IN MRPL:
MRPL was privileged to receive the first parcel of 29,000 tonne indigenously produced crude from Rajasthan 'Mangala' Crude from Cairn Energy India Limited on 9th October 2009. MRPL is likely to receive about 0.2 MMT of this crude during the current financial year and it will be increased to 0.40 MMT next financial year.
G. MARKETING INTITIATIVES :The direct marketing sales of MRPL registered an overall growth of 20% for Q2 2009-10 compared to Q2 2008-09. We have started marketing Mixed Xylene in the domestic market.
H. CSR ACTIVITIES:The company, as a socially conscious corporate, continues its ‘Samrakshan’, programme through undertaking multifarious activities and contributing to the society in and around the refinery area The company has contributed Rs.50 lakhs to Chief Ministers Flood Relief Fund for rehabilitation and relief work at flood affected areas in north Karnataka.
Speaking on the occasion Shri R.S.Sharma, Chairman complimented the Team MRPL for the excellent performance during the quarter and thanked all the stakeholders for their unstinted support and confidence in MRPL. |
