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This mid cap stock turned into a multibagger in just three months

This mid cap stock turned into a multibagger in just three months

The stock, which closed at Rs 39.55 on February 25, 2022, rose to a high of Rs 78.30 on the BSE today (May 27).

Aseem Thapliyal
Aseem Thapliyal
  • Updated May 27, 2022 3:20 PM IST
This mid cap stock turned into a multibagger in just three monthsAn amount of Rs 1 lakh invested in the shares of Mangalore Refinery three months ago would have turned into Rs 2 lakh today.

Shares of Mangalore Refinery and Petrochemicals Ltd (MRPL) have rallied 100 per cent in the last three months. The stock, which closed at Rs 39.55 on February 25, 2022, rose to a high of Rs 78.30 on the BSE today (May 27). An amount of Rs 1 lakh invested in the shares of Mangalore Refinery three months ago would have turned into Rs 2 lakh today.

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In comparison, Sensex has slipped 4.17 per cent during the period.

Mangalore Refinery stock closed at Rs 83.45 on May 26. The mid cap stock rose 3.54 per cent to Rs 86.4 on BSE today.

It touched a 52-week high of  Rs 95.95 on May 23, 2022 and a 52-week low of Rs 37.10 on February 24, 2022.

The stock also touched an intraday low of Rs 79.3, falling 4.97 percent on BSE. MRPL stock trades higher than 20-day, 50-day, 100-day and 200-day moving averages but lower than 5-day moving averages. Market cap of the firm fell to Rs 13,898 crore on BSE. The share has zoomed 54.43 per cent in a year and risen 83.74 per cent in 2022.

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Shareholding pattern

Holdings of promoters of the firm remained unchanged at 88.58 per cent in the March 2022 quarter.

FIIs' holdings rose from 0.74 percent to 0.77 percent in March quarter on a sequential basis. The number of FII investors rose from 86 to 87 in the March quarter.

Two promoters held 88.58 per cent stake and 3.57 lakh public shareholders owned 11.72 per cent in Q4 of last fiscal. Of these, 3.39 lakh public shareholders owned 5.78 per cent stake with capital up to Rs 2 lakh. 317 public shareholders owned 0.98 per cent stake with capital over Rs 2 lakh.

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41 foreign portfolio investors (FPIs) held 1.35 crore shares in Q4 of the last fiscal.

Multibagger returns in just 15 sessions: This stock zoomed 101% since market debut

Stellar earnings

In the March 2022 quarter, net profit zoomed 1006 per cent to Rs 3,008 crore against a profit of Rs 271.86 crore in the corresponding quarter of previous fiscal.

Sales rose 82.17 per cent to Rs 24,803 crore in the last quarter against Rs 13,615 crore in the March quarter of 2021.

Operating profit climbed 224.80 per cent to Rs 2941 crore for the quarter ended March 2022 against a profit of Rs 905 crore in the corresponding quarter of the previous fiscal.

On a quarter-on-quarter basis, the firm's net profit zoomed 410.69 percent from Rs 589.09 crore profit in the December 2021 quarter. Sales were up 21.47 percent from Rs 20419 crore in the December 2021 quarter.

On an annual basis, net profit zoomed 621 per cent to Rs 2958.25 crore for the fiscal ended March 2022 against a loss of Rs 567.52 crore for the fiscal ended March 2021.

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Net sales zoomed 117.50 percent to Rs 69,727 crore in last fiscal against Rs 32,085 crore sales for the fiscal ended March 2021.

Operating profit excluding other income climbed 607.65 percent to Rs 4930.59 crore in March 2022 fiscal against Rs 696 crore profit in the previous fiscal.

Company Info

Mangalore Refinery and Petrochemicals Limited is engaged in the business of refining of crude oil. The company is involved in production of liquid or gaseous fuels, illuminating oils, lubricating oils or greases or other products from crude petroleum.

It manufactures other petroleum products namely petroleum bitumen petrochemicals- polypropylene. The company is also engaged in trading of aviation fuels and distribution of petroleum products through retail outlets and transport terminals. Its products include high speed diesel (HSD), motor spirit (MS), and aviation turbine fuel. It owns and operates ONGC Mangalore Petrochemicals Limited (OMPL), which is a petrochemical unit.

( Disclaimer: This article is for information purpose only and should not be construed as a stock recommendation. Pls consult your financial advisor or an independent financial planner before taking any position in the stock. Business Today will not be responsible for any losses arising out of dealing in this stock.)

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: May 27, 2022 3:15 PM IST
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