News Archive

MRPL awarded "Unnatha Suraksha Puraskara" by National Safety Council, Karnataka Chapter

Date: 
22nd September 2011

Mangalore Refinery & Petrochemicals Ltd (MRPL), a Subsidiary of ONGC, has been conferred the acclaimed Safety award "Unnatha Suraksha Puraskara" for the year 2009 & 2010 from the Karnataka Chapter of the National Safety Council (NSC). This award recognises outstanding safety performance and systems in the category of petroleum products.

Representatives from the Fire & safety Dept of MRPL received the Trophy and Certificate on behalf of MRPL.


Team MRPL represented by Shri. P. Chandrasekar, Sr. Manager (F&S) and Shri. N. N. Kumbhar, Deputy Manager (F&S) receiving the award at Bengaluru. Shri. M. K. Aiyappa, I. A. S., Dy. Commissioner, Bengaluru And Shri.Ramachandran, Jt.Director of Factories, Karnataka, presented the award in the presence of Shri. A. S. Lakshmanan, Chairman,NSC, Karnataka Chapter and Shri. Venkateswarlu, Secretary, NSC.

Additional Info on NSC:

National Safety Council of India (NSCI), an autonomous body set up by the Ministry of Labour, Government of India (GOI) , so as to generate, develop and sustain a voluntary movement on Safety, Health and Environment (SHE) at the national level. It was set up by the Ministry of Labour, Government of India (GOI) on 4th March, 1966 to generate, develop and sustain a voluntary movement on Safety, Health and Environment (SHE) at the national level. It is an apex nonprofit making, tripartite body, registered under the Societies Registration Act 1860 and the Bombay Public Trust Act 1950. NSC that boasts of a membership of 8000 members across India functions through 17 regional chapters. The Karnataka Chapter was established in the year 1971. All those who are members of the Council from Karnataka are members of the Karnataka Chapter.

Issued by
Corporate Communications,
MRPL.

MRPL 4th Quarter Recorded GRM of US $ 9.09/bbl and posted 119% higher Net Profit.

Date: 
21nd September 2011

Achieved best all-round performance and recorded highest throughput at 12.64 MMT and turnover of ` 43,800 crore during FY 2010-11.

Board recommends dividend of ` 1.20 per share of ` 10 each.

FINANCIAL RESULTS OF MRPL FOR 4th QUARTER & YEAR ENDED 31ST MARCH 2011
New Delhi, 20th May 2011.

Mangalore Refinery and Petrochemicals Limited, a subsidiary company of ONGC and a category I Mini Ratna, announced its audited results for the Fourth quarter and Financial Year 2010-11 recording impressive growth and setting itself higher benchmarks in performance.

PERFORMANCE of Q4
 Particulars  Q4  Variation
 2010-11  2009-10
  Turnover (` In Crore)  13,599  9,735  40%
 Exports Turnover
  (` In Crore)
 5,240  3,389  55%
 PBT (` In Crore)  845  388  118%
 PAT (` In Crore)  553  253  119%
 GRM (US$ / BBL)
 (` In Crore)
 9.09
1019
 5.30
545
 87%
 Throughput (MMT)  3.37  3.06  10%


The Net Profit after tax for the quarter is after providing for interest and finance charges of ` 27 crore (` 26 crore), depreciation of ` 94 crore (` 97 crore) and Tax Provision of ` 391 crore (` 134 crore).

The Net Profit after tax for the quarter is after providing for interest and finance charges of ` 27 crore (` 26 crore), depreciation of ` 94 crore (` 97 crore) and Tax Provision of ` 391 crore (` 134 crore).

HIGHLIGHTS for FY 2010-11 :

  • Higher Profit after Tax of ` 1,177 crore, up 6% from ` 1,112 crore
  • Highest ever Refinery Crude Throughput at 12.64 MMT (up from 12.50 MMT)
  • Highest ever capacity utilization at 107%, up from 106%,
  • # Highest ever Turnover at ` 43,800 crore, up 21% from ` 36,141 crore.
  • Hydrocracker the major secondary processing unit achieved highest ever processing of 2.88 MMT (Capacity 121%)
  • Energy index of 58.13   MBN  which is the lowest ever achieved.


In FY 2010-11 MRPL's performance on Fiscal and Physical parameters have surpassed the performance standards and provides a new bench mark for the future.

The Company earned profit before tax of ` 1737 crore as compared to ` 1692 crore in the previous year up by 3%, after providing for interest and finance charges of Rs. 104 crore (Rs. 116 core), depreciation of ` 391 crore (` 389 crore). A tax provision of Rs. 878 crore (` 487 crore) is made for working of profit after tax.

Exports during the year were ` 14,604 crore (` 11,083 crore).

GRM for the year is US$ 5.96 / bbl (US$ 5.51 / bbl)

( Figures in bracts represent corresponding previous quarter/year figures )

In view of the ensuing project investment and considering the performance, the Board of Directors recommends dividend payment of ` 1.20 per share of ` 10 each (` 1.20 per share of ` 10 each).

AWARDS, RECOGNITION AND ACHEIVEMENTS:

The excellent standards maintained by the Refinery on the production, energy conservation, environment management and safety front, enabled us to bag several awards:

  1. MRPL has bagged the Petrofed 'Refinery of the Year' Award honoring performance in refining of petroleum in India during the year 2009-10. This recognizes leading Performance in production and operational efficiency in refining operations, while meeting the norms of health safety and environmental protection
  2. Oil Industry Safety directorate ranks MRPL as 1st in "Most consistent safety performer in Refineries" for the year 2009-10
  3. Company has achieved the "Excellent" Target (Composite score 1.04) against the MOU Targets set with Government of India for the year 2009-10.
  4. Adjudged as Second best in 'Excellence in Energy Management'-2010 under Refinery category instituted by the CHT.
  5. ICRA and CRISIL reaffirmed Issuer rating of "Ir AAA" and 'Cr AAA' to MRPL for lowest credit risk.
  6. Best Exporter Award (Gold) - 2010 for exporting products through NMPT, by Federation of Karnataka Chamber of Commerce & Industries.
  7. The "Oil & Gas Conservation Award-2010" for Furnace/Boiler Efficiency instituted by CHT.


MARKETING INTITIATIVES:

In view of the continued under recoveries in retail marketing of Auto Fuel, the company has continued with its miniscule presence in retail Marketing thereby is not burdened with under recoveries. The direct marketing sales turnover covering Bitumen, CRMB, ATF, Furnace Oil, Mixed Xylene, Naphtha and Sulphur amounts to '2,291 crore registering a marginal increase over '2,278 crore of last year. A major growth is achieved in the area of marketing ATF and Mixed Xylene.

PHASE III: REFINERY PROJECT:

Financial Year 2010 - 11 has been a significant year for Phase III. A number of milestones have been crossed at a rapid phase and the project progress is extremely good and is aligned for progressive commissioning beginning Jan 2012 as per Schedule.

  1. The project has achieved the physical progress as on 15th April 2011, 81 % as against the planned progress of 85 %.
  2. Orders to the extent of '10,083 crore has been committed and expenditure upto 15th April 2011 on project has been ' 5,578 crore. The project expenditure has been up till now completely met from the internal accruals and has not resorted to any borrowing so far.
  3. The Gas Turbine for Captive Power Plant being built by M/s BHEL Schedule for commissioning in April 2011 has now projected a delay of six months.

SPM Implementation:

MRPL has awarded the contract for installation of a single point mooring facility (SPM) off New Mangalore Port. The project progress is as per schedule. Engineering and ordering for Material is complete. The project is scheduled for commissioning in May 2012.

CORPORATE SOCIAL RESPONSIBILITY:

The company as a socially conscious corporate, continues its 'Samrakshan', programme through multifarious contributions like 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.

Speaking on the occasion Shri A.K. Hazarika, Chairman complimented the Team MRPL for the excellent physical and financial performance during the quarter / year and thanked all the stakeholders for their unstinted support and confidence in MRPL.