Mangaluru: The Mangalore Refinery and Petrochemicals Ltd. Chairman Dinesh K Sarraf told media that during the year 2016-17 MRPL had achieved a turnover of Rs 59,415 Crore against Rs 50,864 Crore during 2015-16. In the financial year 2016-17, the company has earned a profit of after tax (PAT) of Rs 3,644 Crore against Rs 1,712 Crore during 2015-16 and the reported loss of Rs 1712 Crore during 2014-15.
He was disclosing the 29th annual report for the year 2016-17 during the annual general meeting here on August 19.
“The board has recommended a dividend of Rs 6 per equity share of Rs 10 each which is the highest ever in MRPL’s history. There has been a highest ever crude throughput of 16.27 MMT during the year 2016-17, against the previous highest of 15.69 MMT during 2015-16, i.e, an increase of 3.69 percent. This could be achieved by the optimal crude mix, better equipment reliability, timely shutdown adherence and commendable operational discipline, he said.
“Market capitalisation of the company has grown three and half times during the last four years as on 17 July 2017 at Rs 21,556 Crore as against Rs 6073 Crore on 17 July 2013. The company has also achieved 294 accident free days as on 31 March 2017 with 4.75 million men working. The company has formulated aggressive plans to forge ahead in the refining and petrochemical sector. After increasing its capacity from 10 MMTPA to 15 MMTPA in 2014, MRPL is now working on increasing refining capacity from 15 MMPTA to 25 MMPTA. The entire country has to move towards BS VI quality specifications by 01 April 2020 and mechanical completion for all modification and construction activities have to be attained by July 2019”, he said.
“As a part of this BS VI upgradation project, MRPL is aggressively working on installation of additional units for MS and Revamp/Catalyst changes for HSD with an estimated cost of Rs 1810 Crore and is confident of achieving the target dates for roll out of the upgrade products by January 1 in 2020. The existing CCR-2 unit in the refinery is being revamped to produce higher quantity of Reformate, yielding higher quantity of MS. CCR revamp is expected to be completed by September 2018 with an approved project cost of Rs 207.5 Crore”, he added.
MRPL has spent Rs 1.45 Crore for various CSR activities during the year 2016-17 and an amount of Rs 33.87 Crore has been earmarked on CSR activities for 2017-18.
Managing Director H Kumar, Director (Refinery) M Venkatesh, Director (Finance) A K Sahoo and others were present.
