MRPL Share Price Analysis-Is it a Multibagger?

Following the government’s decision to lower the windfall tax on diesel export, shares of upstream companies including Oil and Natural Gas Corporation (ONGC), Oil India Limited (OIL), Mangalore Refinery & Petrochemicals (MRPL), Chennai Petroleum Corporation, and Reliance Industries increased by up to 4% on the BSE intraday.

Is it a Multibagger ?

With a share price increase of 43.80 to 89.25 and a multibagger return of 103.77 percent year-to-date, MRPL is a multibagger stock in 2022. (YTD). In the past six months, the stock has skyrocketed from 44.15 to the current market price, representing a multibagger gain of 102.15%. From its 52-week low of 37, the stock has increased by more than 140%, and it is currently trading above its 5 days, 10 days, 12 days, 20 days, 26 days, 50 days, 100 days, and 200 days moving averages.

Technical View

Although MRPL is currently trading above its 50- and 100-DMAs, it is still trading below its 200-DMA, which is Rs 54.85.

The stock has surpassed the key resistance area between 55 and 56.25 levels and is currently trading above two of the three significant DMAs. The stock could challenge the 59.50 and 64 levels.”

Relative strength index (RSI) is presently in the overbought zone, according to AR Ramachandran, and higher levels should be used to liquidate previous purchase positions.

In June 2022, the stock’s 52-week high was Rs 127.60.

Let us look at the Fundamentals

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Sales +	38,887	53,770	65,696	71,815	57,463	39,647	43,208	48,451	62,062	51,002	31,959	69,727	108,271
Expenses +	36,864	52,156	65,393	70,808	59,551	37,859	38,493	44,139	60,382	53,524	31,251	64,783	102,323
Operating Profit	2,023	1,615	303	1,007	-2,088	1,789	4,714	4,311	1,681	-2,522	708	4,944	5,947
OPM %	5%	3%	0%	1%	-4%	5%	11%	9%	3%	-5%	2%	7%	5%
Other Income +	210	346	153	430	838	674	2,015	154	131	97	93	64	125
Interest	105	207	329	321	407	594	520	443	475	749	558	1,212	1,349
Depreciation	391	434	604	706	499	710	678	671	757	783	1,158	1,088	1,111
Profit before tax	1,737	1,320	-477	410	-2,156	1,158	5,531	3,351	581	-3,958	-915	2,708	3,612
Tax %	32%	31%	-59%	-47%	21%	1%	34%	34%	43%	31%	17%	-9%
Net Profit	1,177	909	-757	601	-1,712	1,147	3,644	2,224	332	-2,740	-761	2,955	3,739
EPS in Rs	6.71	5.18	-4.32	3.43	-9.77	6.54	20.79	12.69	1.89	-15.64	-4.34	16.86	21.33
Dividend Payout %	18%	19%	0%	0%	0%	0%	29%	24%	53%	0%	0%	0%

Compounded Sales Growth
10 Years:	3%
5 Years:	10%
3 Years:	4%
TTM:	85%

Compounded Profit Growth
10 Years:	13%
5 Years:	3%
3 Years:	105%
TTM:	886%

Stock Price CAGR
10 Years:	1%
5 Years:	-13%
3 Years:	28%
1 Year:	8%

Return on Equity
10 Years:	5%
5 Years:	5%
3 Years:	-2%
Last Year:	52%

Balance Sheet

Standalone Figures in Rs. Crores / View ConsolidatedCORPORATE ACTIONS

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Sep 2022
Share Capital +	1,762	1,757	1,753	1,753	1,753	1,753	1,753	1,753	1,753	1,753	1,753	1,753	1,753
Reserves	4,767	5,472	4,715	5,316	3,552	4,679	8,318	9,280	8,974	6,014	2,485	5,444	6,364
Borrowings +	1,126	6,183	7,558	9,793	9,032	8,075	8,541	7,950	9,131	11,896	24,062	21,310	18,437
Other Liabilities +	10,856	12,747	12,676	22,665	20,007	22,787	7,802	7,238	7,333	6,145	6,425	11,561	11,899
Total Liabilities	18,501	26,155	26,701	39,527	34,345	37,293	26,414	26,221	27,191	25,808	34,725	40,068	38,452
Fixed Assets +	3,090	4,052	5,781	5,991	14,109	14,881	14,161	14,038	13,996	14,239	19,596	21,384	20,846
CWIP	3,995	7,089	7,554	8,552	1,378	188	220	668	982	1,730	2,343	170	371
Investments	42	42	15	15	1,350	1,350	1,350	1,350	1,503	2,178	16	16	16
Other Assets +	11,374	14,971	13,351	24,969	17,508	20,874	10,684	10,166	10,710	7,661	12,770	18,499	17,218
Total Assets	18,501	26,155	26,701	39,527	34,345	37,293	26,414	26,221	27,191	25,808	34,725	40,068	38,452

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