The Rs 12,160-crore Phase 3 expansion project for Mangalore Refinery and Petrochemicals Ltd (MRPL) has been completed today, MD H Kumar told CNBC-TV18 today.
The Rs 12,160-crore Phase 3 expansion project for Mangalore Refinery and Petrochemicals Ltd (MRPL) has been completed today, MD H Kumar told CNBC-TV18 today while speaking from the sidelines of an Antique Stock Broking investment conference that is under way.
"All our units are running at 100 percent capacity," Kumar said, adding that he expects refining margins to increase to USD 8 next year as a result of the expansion.
In the same interview, Amit Rustagi, VP – Energy Research, Antique, discussed other companies in the sector and said the brokerage had a sell call on both GAIL (price target Rs 415) and Cairn India (price target Rs 190).
GAIL's profits are hugely dependent on petrochemicals and LPG and with the fall in oil prices, we expect its profitability to be hit, Rustagi told CNBC-TV18.
Cairn is struggling with both volume ramp-up from its Aishwarya field as well as pricing pressures, he said. "We are looking at a 40 percent earnings decline for next year."
MRPL stock price
On February 06, 2015, at 14:13 hrs Mangalore Refinery and Petrochemicals was quoting at Rs 53.75, down Rs 0.2, or 0.37 percent. The 52-week high of the share was Rs 80.65 and the 52-week low was Rs 38.05.
The latest book value of the company is Rs 40.33 per share. At current value, the price-to-book value of the company was 1.33.
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