MRPL

What it is: MRPL Ltd is a Schedule A Mini Ratna PSU and a subsidiary of ONGC, operating one of India’s major coastal oil refineries in Mangalore, Karnataka. Founded: 1988 Headquarters: Mangaluru, Karnataka Parent: ONGC What MRPL Does Crude oil refining: Processes sour and sweet crude into petroleum products Petrochemicals: Polypropylene, aromatics, and specialty products Exports: Fuels and petrochemical products to global markets Retail & marketing: Limited fuel retail network How MRPL Makes Money Gross Refining Margins (GRMs): Difference between product prices and crude costs Petrochemical margins Export realizations Why Investors Track MRPL Proxy for refining margin cycles Beneficiary of coastal export opportunities ONGC backing improves crude sourcing stability Key Strengths Complex refinery capable of processing heavy/sour crude Strategic coastal location Integration with ONGC