Chairman of the Mangalore Refinery and Petrochemicals Ltd. (MRPL) Dinesh K. Sarraf has said the company is considering increasing its production capacity to 25 million tonnes per annum (MTPA) from the present 15 MTPA.
Speaking to presspersons after the General Body meeting of the company here on Saturday, Mr. Sarraf said MRPL increased its production capacity from 10 MTPA to 15 MTPA in 2014. An aggressive plan is formulated to forge ahead in the refining and petrochemicals sector even as MRPL is geared up to meet the Bharat Stage VI deadline of April 2020.
Installation of additional units for petrol and revamping/catalyst changes for diesel units at a cost of ₹1,810 crore for upgradation to BS VI is vigorously pushed forward, he said. He noted that several other low cost, high-yielding small infrastructure improvement, including revamping of Continuous Catalyst Regeneration Unit 2, too are being undertaken to boost production. CCR 2 revamp would increase production of petrol. It would also set up a marketing terminal, truck loading silos, and railway siding at a cost of ₹310 crore.
Record performance
Mr. Sarraf noted that MRPL has registered record performance during 2016-17. Its total turnover reached ₹59,415 crore as against ₹50,864 crore last fiscal even as its profit after tax reached ₹ 3,644 crore, the highest ever in MRPL’s history, as against ₹1,148 crore the previous fiscal.
As such, the company’s board has recommended dividend of ₹6 per share of ₹10 each, that also the highest ever in MRPL’s history. The company has also recorded highest ever gross throughput of 16.27 million tonnes as against the previous highest of 15.69 MT.
It also achieved the highest gross refining margin of $7.75 per barrel as against $5.2 per barrel the previous year.
He noted that MRPL remains the market leader in the region for many products, including bitumen, sulpher, pet coke, among others.
The company continues to be the sole supplier of petroleum products, except LPG, to Mauritius since 2006 while Shell MRPL Aviation Fuel Services Ltd. has steadily acquired business for sale of aviation turbine fuel at Indian airports.
MRPL has earmarked ₹ 33.87 crore for corporate social responsibility activities in 2017-18, he added.
Managing Director H. Kumar and senior officials were present on the occasion.
