News Archive

Shri Ramachandran takes over as CEO of OMPL

14th May 2010

Armed with over 3 decades of experience in the Indian Oil sector, Shri S. Ramachandran, Executive Director from ONGC has taken over as CEO of OMPL at Mangalore, today. ONGC Mangalore Petrochemicals Limited (OMPL) is company promoted by ONGC and MRPL with equity contribution of 46% and 3% respectively.

OMPL is setting up an Aromatic Complex with project cost of Rs.5750 Cr in Mangalore Special Economic Zone (which is also promoted by ONGC) as a value addition project of Mangalore Refinery and Petrochemicals Limited(MRPL) .The plant will produce 905,000 MT of para-xylene and 270,000 MT of benzene utilizing the naphtha and other streams from MRPL. The project is expected to
be commissioned by November 2012.

Prior to this Shri Ramachandran was heading the all important Corporate BD & JV Group of ONGC as ED-Chief at New Delhi and has taken over the reigns of this Joint Venture Company at a very crucial period of its project stage.

Shri. S Ramachandran , a Chemical Engineer and an expert on Contracts Management , is the second ONGC Executive to have been appointed a CEO in recognition of his technical expertise and highly successful managerial competence. He has the daunting responsibility of steering this prestigious company from the project construction and commissioning to the operations stage.

Shri Ramachandran is upbeat about his new role and says that he will strive to optimize value addition to ONGC group of companies while executing this challenging assignment.

MRPL maintains Commendable all-round performance, despite downturn. Board recommends 12% Dividend for FY 2009-10

12th May 2010

Financial results of mrpl for 4th quarter & year ended 31st march 2010.

The board of directors of Mangalore Refinery and Petrochemicals Limited, a subsidiary company of ONGC and a category I Mini Ratna, approved its audited results for the Fourth quarter and Financial Year 2009-10 recording an excellent physical and financial performance in the continuing global recessionery conditions.

Particulars Q4 For the Year
2009-10 2008-09 2009-10 2008-09
Turnover 9723 7630 36081 42719
PBIDT 511 1012 2196 2337
PBT 388 884 1692 1812
PAT 253 608 1112 1193
GRM (US$ / BBL) 5.25 7.54 5.46 5.33
Avg. Product Realization (US$ / BBL) 88.58 51.54 80.89 85.67
Inventory Gain / (Loss) (US$ / BBL) 0.29 2.23 1.93 (2.48)
1 US$ = Rs. 45.58 51.45 45.58 51.45

Particulars Q4 For the Year
2009-10 2008-09 2009-10 2008-09
Throughput 3.06 3.42 12.50 12.59
Dispatches 2.92 3.34 11.72 11.76
Fuel & Loss ( %) 6.51 6.14 6.51 6.42

HIGHLIGHTS for FY 2009-10:

  • The turnaround of the 6MMTPA unit was successfully completed as per schedule
  • The company successfully completed the revamp of Gas Oil Desulphurisation unit commissioned the same and rededicated it to the Nation on 30th April 2010
  • Energy index of 58.27 MBN which is the lowest ever achieved
  • MRPL received the first parcel of Cairn ‘Mangala’ crude on 9th October 2009
  • The distillate yield was highest ever 72.8% at an operating level of 12.5 MMTPA
  • The domestic dispatches were highest during the FY 2009-10.

In FY 2009-10 MRPL’s performance on fiscal and physical parameters have been quite appreciable and the company earned a net profit of Rs.1112 crore as compared to Rs.1193 crore in the previous year, after providing for interest and finance charges of Rs. 116 crore (Rs. 143 core), depreciation of Rs. 389 crore (Rs 382 crore) and tax provision of Rs. 580 crore (Rs. 619crore ). Exports during the year were Rs. 11,083 crore ( Rs. 11,608 crore ).
GRM for the year is US$5.46 / bbl (US$ 5.33 / bbl)
Despite marginal lower net Profit after Tax, the Board of Directors recommended a dividend of Rs. 1.20 per share of Rs 10 each (Rs.1.20 per share of Rs. 10 each).

During the 4th quarter ended 31st March’2010, MRPL has recorded a crude throughput at 3.06 MMT (3.42MMT). Turnover during the quarter was Rs. 9723 crore (Rs. 7630 crore). The Net Profit after tax for the quarter is Rs. 253 Crore (Rs. 608 crore), after providing for interest and finance charges of Rs. 26 crore (Rs.33 core), depreciation of Rs. 97 crore (Rs.95 crore) and Tax Provision of Rs.135 crore (Rs.276crore).
GRM for the quarter is US$ 5.25 / bbl (US$ 7.54 / bbl).
(Figures in bracket represent corresponding quarter / previous year figure)

Company has achieved “Excellent” performance results under the MOU with its holding company. The excellent operating, production and safety standards maintained by the Refinery have enabled the company to achieve remarkable energy saving and also achieve an accident free year in the safety front. This has enabled us to bag many awards:

  • MRPL adjudged the winner in the ‘Most Safe Refinery in last three years’ and runner up in ‘Refineries’ categories of OISD awards for the year 2008-09.
  • MRPL has won the Jawaharlal Nehru Centenary Award 2008-09 Joint 1st Prize in specific Energy Consumption Performance amongst all Refineries in Public Sector.
  • MRPL secured the Superstar Achiever Award – 2008 for best export performance from Kanara Chamber of Commerce and also State level Export award for the Year 2005-06 and 2006-07 from Govt. of Karnataka
  • ICRA has reaffirmed their Issuer rating of “Ir AAA” to MRPL for lowest credit risk. CRISIL issued rating of “Cr AAA” to MRPL indicating highest safety continues.


  1. Direct Marketing Sales registered an overall growth of 3% covering products Bitumen, Furnace Oil, Naphtha Mixed Xylene, LSHS and Sulphur under direct marketing with Sales of 800 TMT in 2009-10 vis-Ã -vis 775 TMT in 2008-09.
    b. MRPL Shell Aviation Fuel Services Pvt. Limited (a Joint Venture Company of MRPL and Shell Global) has made good progress in marketing ATF to domestic airlines at Bangalore and Hyderabad and is likely to commence operation at Mangalore shortly

Financial Year 2009-10 has been a significant year for Phase III. A number of milestones have been crossed at a rapid phase.

  1. The project has achieved the physical progress of 38.8 % as on date against the stretched plan progress of 41.5 %.
  2. The orders for all major process plants and auxiliary equipments including off site facility have been placed .The commitment made against the project so far is Rs 9585 crore.
  3. With a view to add value to the propylene, MRPL and ONGC board had approved the implementation of Poly propylene unit at accost of Rs 1803 Crore. The order for execution of ISBL facility has been placed for execution under open Book execution method on Engineers India Ltd
  4. In respect of Poly Propylene unit, the progress has been 10.3% as against stretched schedule progress of 14.5%. The project progress setback was mainly for non availability of encumbrance free land.
  5. ONGC the parent Company has approved to extend a Loan facility of Rs 5000 crore at interest rate of 7.90% p.a. (3.85% lesser than present SBI PLR of 11.75%) for financing part of the project cost. OIDB has also sanctioned a loan of Rs. 200 crore for the project.

GOHDS Revamp :
The GOHDS revamp project which was initially scheduled to be completed by Aug 2010, was re-scheduled for completion by March 2010 to meet the increased fuel quality requirement by March 2010. The project has since been completed as per schedule successfully.
The company with the completion of the revamp at a cost of Rs 98 Crore as against the approved cost of Rs.104 crore has increased the facility for production of Euro IV and euro III grade HSD from 4000 MT to 5200 MT per day .

SPM Implementation :
The Detailed Feasibility Report for Single Point Mooring facility has been completed and is under financial evaluation. The clearances from New Mangalore Port Trust and Environmental clearances are expected by May 2010. The clearances from New Mangalore Port trust and the environmental clearance has been received. The project is likely to be completed by 2011-12.

The company as a socially conscious corporate continues its ‘Samrakshan’, programme. The company during the year contributed Rs 50 lakhs towards the Chief Ministers Relief Fund and also has contributed 495 lakhs towards construction of houses for flood-affected people at Karnataka. In addition he activity of providing electricity for drawing water at rehabilitation colony for drinking water, donation of medical equipment to hospitals, construction of anganwadi building, donating scientific teaching aids, scholarships to deserving students, providing infrastructure facility to schools, women’s help programmes, providing generators to hospitals, development of parks in the city etc has been undertaken. Total expenditure during the year is Rs.12.54 crore (Rs. 3.70 crore).

Speaking on the occasion Shri R.S.Sharma, Chairman complimented the Team MRPL for the excellent physical and financial performance during the quarter / year despite lower product prices and continuing downturn in the industry. He also thanked all the stakeholders for their unstinted support and confidence in MRPL.