ICICI Direct's research report on Mangalore Refinery and Petrochem
Mangalore Refinery & Petrochem (MRPL), a subsidiary of ONGC, is a refining company. The company has total refining capacity of 15 MMTPA • ONGC Mangalore Petrochemicals (OMPL), a subsidiary of MRPL, has been amalgamated with the company.
Outlook
We revise our rating on the stock from BUY to HOLD. We value MRPL at Rs 60/share i.e. ~0.7x FY24E BV.
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