Company History - Mangalore Refinery and Petrochemicals
1988
- The Company was incorporated on 7th March, pursuant to a Memorandum
of Understanding (MOU) dated 26th June, 1987 executed between the
President of India representing the Government of India (GOI),
Hindustan Petroleum Corporation Limited (HPCL) and Indian Rayon &
Industries Limited (IRIL) for the purpose of setting up a refinery at
Mangalore in the state of Karnataka.
- The Company obtained the Certificate of Commencement of business on
2nd August, from the Registrar of Companies, Karnataka and
subsequently the Letter of Intent from the Government India.
- The Company was promoted by Hindustan Petroleum Corporation Ltd.,
Indian Rayon and Industries Ltd., Grasim Industries Limited, Hindalco
Industries Ltd., and Indo Gulf Fertilisers and Chemicals Corp. Ltd.,
1993
- The Company has made a mega Public Issue consisting 4,31,60,000 16%
Secured Redeemable Partly Convertible Debentures (PCDs) of Rs.135/-
each aggregating to Rs.582.66 crores and 2,80,00,000/- 17.5% Secure
Redeemable Non Convertible Debentures of Rs.200/- each (with
detachable Equity Warrants) aggregating to Rs.560 crores.
- The Company has already tied up the entire Foreign Exchange
requirements of the project.
- The Company has tied up process technologies with internationally
reputed technology suppliers.
1995
- The Company had already tied up the entire funds required for the
project.
1996
- The Company has already tied-up the debt (both foreign exchange and
rupee) required for the expansion of capacity.
1997
- MRPL commissioned its three million tonnes refinery towards the end
of 1995-96 and it has been operating at more than 100 per cent
capacity.
1998
- The Company has entered into an agreement with the National
Securities Depository Limited (NSDL) to facilitate investors to hold
the Shares in the electronic form.
1999
- The Company had issued 376947036 FCDs of Rs.19.26 each to the
Promoter Companies for raising part Funds required for the expansion
project which were converted into 376947036 equity shares of Rs.10/-
each at a premium of Rs.9.26 per equity share.
- MRPL is signing a crude-sourcing deal with the Chevron-Texaco
combine.
2000
- The Company a joint venture between the AV Birla group and
Hindustan Petroleum, is set to register losses of arond Rs 300 crore
for the 1999-2000 financial year.
- Reliance Petroleum and Mangalore Refineries have entered into First
World markets with petro-products like motor spirit at prices, which
are not only competitive but have also contributed to the bottomlines
of these companies.
- The Company has enhanced its refining capacity to 12 million tonnes
through a cost-effective process of debottlenecking some units.
- The Company is expanding its refining capacity from the existing 3
to 9 million tonnes per annum.
- The Company joint venture between the Aditya Birla group and
Hindustan Petroleum Corporation Ltd has been its outstandings from
the Oil Coordination Committee rise to whopping Rs 792 crore.
- H.L. Zutshi has been elected as Chairman of the company for period
of two years.
- Jagdish Mehta has stepped down as joint MD of Mangalore Refinery
and Petrochemicals the nine million tonne refinery promoted by HPCL
and the AV Birla group of companies.
- The Company despite intense lobbying with Petronet India, has been
denied a 26 per cent stake in the Mangalore-Bangalore propline.
2001
- ICRA has downgraded the non-convertible debenture program and the
partially-convertible debenture programe of the company.
- Refineries and Petrochemicals Ltd (MRPL) has reported a net loss of
Rs 185.04 crore for the year ended March 31, 2001.
2002
- Mangalore Refinery & Petrochemicals Ltd has informed that IDBI has
appointed their nominee Shri G M Ramamurthy on the Board of the
company.
-New Delhi: The board of directors of Oil and Natural Gas Corporation
(ONGC) has approved the acquisition of the Aditya Birla group's stake
in the joint venture Mangalore Refinery and Petrochemicals Ltd
(MRPL).
-Mangalore Refinery & Petrochemicals Ltd has informed that the Board
of Directors approved issuance of additional Equity Shares upto Rs
20,000 million on preferential basis as per the existing SEBI
guidelines for such issue of preferential shares to ONGC and /or
Lenders of the Company on conversion of their debt into equity as
part of a proposed financial restructuring of the company subject to
approval of Shareholders of the company and lenders of the company
and lenders of the company and further subject to approval of Govt.
of India for cancellation of tripartite MOU dated June 26,1987
between Govt. of India, Hindustan Petroleum Corporation Ltd. (HPCL)
and Indian Rayon & Industries Ltd. (IRIL) and completion of sale of
Shares of IRIL and its associates in MRPL to ONGC.
2003
-Mangalore Refinery and Petrochemical Ltd has informed BSE that ONGC
has acquired
its 37.38% equity stake.
-Shri.M.C.Bhargodia, Shri B.N.Puranmalka, Shri P Ramakrishnan, Shri
Ravi Kastia
have resigned as directors of the company.
-ICRA has assigned 'A1+' rating to MRPL in respect of its short term
borrowings programme.
-MRPL issued MIBOR linked bonds of Rs.500million with a green shoe
option of Rs.250million
at the interest of MIBOR plus 15 basispoint.
-ONGC and MRPL have signed a Memorandum of Understanding for the
supply of crude oil.
-Becomes the third largest refinery in India
2004
-Shell ties up with MRPL for petro products
-MRPL prepays Rs 2,380 Cr under debt restructuring package
-MRPL inks agreement with Shell
-Equity shares of Mangalore Refineries and Petrochemicals, a
subsidiary of state-owned Oil and Natural Gas Corporation, enter 'A'
group of scrips at Bombay Stock Exchange from March 1, 2004
-Mangalore Refinery & Petrochemicals Ltd has informed that Oil &
Natural Gas Corporation Ltd, the promoter company has nominated Dr
Ashok Kumar Balyan, Director (HR) ONGC, as director on the Board of
MRPL
2005
-MRPL signs pact with Saudi, Iran firms for crude supply
-MRPL forges alliance with Ashok Leyland for retail outlets
- The Centre for High Technology (CHT) selects Mangalore Refinery and
Petrochemicals Ltd (MRPL) for the Jawaharlal Nehru centenary awards
for energy performance of refineries for 2003-04.
-MRPL bags Jawaharlal Nehru award
2006
-Mangalore SEZ Co names Subir Raha as chairman
-Mangalore Refinery forges alliance with Abu Dhabi firm
-MRPL inks agreement with Mauritius co
-Mangalore Refinery & Petrochemicals Ltd (MRPL) has informed that
ICRA Ltd has assigned an Issuer Rating of IR AAA (pronounced as IR
Triple A) to the Company.
2007
-Mangalore Refinery & Petrochemicals Ltd (MRPL) has appointed Shri. V
P Joy as Director of the Company w.e.f. January 16, 2007.
-Mangalore Refinery & Petrochemicals Ltd (MRPL) has appointed Shri. V
K Dewangan, Deputy Secretary (E-I), Ministry of Petroleum & Natural
Gas as Director of the Company w.e.f. March 05, 2007.
-MRPL signs long-term product supply agreement with Shell
-MRPL receives award for energy performance
2008
-Mangalore Refinery & Petrochemicals Ltd has entered into an
agreement to form a Joint Venture with Shell for domestic marketing
of Aviation Fuel.
-MRPL & SHELL enter into Joint Venture in Aviation Fuelling Business
-Shell-MRPL joins hand to supply ATF to Jet Airways
2009
-MRPL to buy crude from Cairn's Rajasthan blocks
-MRPL gets first consignment of crude from Cairn
2010
- Shri P. P. Upadhya has been appointed as Director.
- Shri B. Sukumar has been relieved from the company as Company
Secretary, and Shri Dinesh Mishra has assumed the charge of Company
Secretary and Compliance Officer.
- Board has recommended dividend of Rs. 1.20 per Equity Share.
2011
- Vishnu Agrawal is MRPL new Director-Finance.
- Board have recommended dividend of Rs. 1.20 Paise per equity
share.
2012
- Mangalore Refinery and Petrochemicals Ltd has informed BSE
regarding a Press Release dated June 06, 2012 titled Government of
Karnataka sanctions special Incentive package for MRPL phase III
Expansion and Upgradation Project.
- P. P. Upadhya takes over as MD, MRPL .
- Dr. D Chandrasekharam has been appointed as an Independent
Director on the Board of the Company.
- Board have recommended dividend of Rs. 1.00 per Equity Share.
2014
-MRPL starts its Petro Fluidized Catalytie Cracking unit
2015
-MRPL buys cargo of Djeno crude
-MRPL won the first prize for outstanding performance in the area of
Hindi Implementation
-MRPL has conferred the prestigious Skoch Foundation Order of-Merit
Award for the best project in the country
2016
-MRPL readies Rs 11,000 cr to hit 25 mt refining capacity
2017
- MRPL gets environmental clearance for BS VI project
2020
-MRPL won Silver Medal IGMC award
2021
-MRPL was recognised as one of the four topmost contributors for the
conservation
of wildlife/ Support to Zoos by the Zoo Authority of India
- Mangalore Refinery and Petrochemicals Ltd. (MRPL) proudly announces
the
commissioning of its 25th Retail Outlet at Mandarthi
- MRPL Agreement for Door to Door Delivery of HSD with M/s. PEP
Fuels
- MRPL Awarded FIRST Prize on PRSI National Award-2021 for Innovation
in Marketing Strategies during Covid times
2022
-MRPL won PRCI Zonal Award for Best PSU implementing CSR for Social
Cause.
-MRPL wins coveted Energy Technology Awards.
-MRPL has bagged First prize for Safe Operations in the Oil Industry
category and Safety award for Co-Gen Boiler (Power/ Process) in the
prestigious award ceremony.
-MRPL wins Eight PRCI National Excellence Awards.
