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companylogoMangalore Refinery And Petrochemicals Ltd

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BSE Code : 500109 | NSE Symbol : MRPL | ISIN : INE103A01014 | Industry : Refineries |


Chairman's Speech

TO

STAKEHOLDERS

Dear Shareholders,

It is my privilege to present, on behalf of the Board of Directors of MRPL, the 37 Annual Report for the Financial Year 2024-25 to our valued shareholders and also present few highlights of the performance.

Standalone Financial Performance

Your Company achieved a turnover (revenue from sale of products) of 1,09,239/- Crore during the Financial Year 2024-25 as against 1,05,190/- Crore during the Financial Year 2023-24.

w Your Company earned pro t of 51 Crore (Pro t After Tax) during the Financial Year 2024-25 as against pro t of 3,596 Crore during the Financial Year 2023-24. w The Gross Re ning Margin (GRM) for Financial Year 2024-25 was US$ 4.45/bbl as against US$ 10.36/bbl during the Financial Year 2023-24.

w Your Company secured "AAA"rating from ICRA and CRISIL for 2,060 Crore NCDs and "AAA"rating from CARE and India Rating for 5,000 Crore NCDs.

Physical Performance

w Re nery has processed highest ever gross crude throughput of 18.18 MMT during the Financial Year 2024-25. (Previous best was 17.116 MMT during Financial Year 2022-23).

w Highest ever gross Crude Throughputs in Q2, Q3 and Q4 in any of the year was achieved at 4.44 MMT, 4.54 MMT and 4.68 MMT respectively during the year. (Previous best was 4.01 MMT, 4.46 MMT and 4.51 MMT respectively).

w Highest ever distillate yield was achieved at 81.93% during the year. (Previous best was 78.79% during FY 2021-22).

w Lowest Speci c Energy Consumption MBN of 70.71 since Phase-3 commissioning. (Previous best of 71.2 in Financial Year 2023-24).

w Lowest Fuel and Loss of 10.42% for FY2024-25 (Previous best 11.02% in Financial Year 2023-24), post integration of OMPL.

w During the year new Bitumen train and PFCC Wet Gas Scrubber projects commissioned.

w Devangonthi Marketing Terminal commissioned for dispatch of all three products (MS, HSD & ATF).

w Re nery has processed new & variety of crude mainly Kaliningrad (Russia, API-39.4), Varandey (Russia, API-37.6), Eocene (Neutral Zone, API-18.1), Peregrino (Brazil, API-14.4), Sandibinskaya (Russia, API-31.8) & Merey-16 (Venezuela, API-15.69) during this year which has added additional margin to the re nery.

Safety

w MRPL achieved 111 days for Re nery and 3442 days for Aromatic Complex without Reportable Lost Time Injuries (RLTI).

w Emergency Response & Disaster Management Plans of Re nery and Aromatics Complex have been successfully recerti ed.

w Pre-commissioning Safety Audit of Devangonthi Marketing Terminal, BBU train-2 & PFCC WSS (Wet Scrubber System) were carried out by Oil Industry Safety Directorate.

Direct Marketing

w During the Financial Year 2024-25, your company continues to maintain its dominant position in the institutional business segment of petroleum products market in Karnataka and adjoining States. Your Company retained its leadership position in its core marketing region across all key institutional business products such as Bitumen, Diesel, Sulphur, Pet coke, ATF (through Joint Venture), Polypropylene, Xylol, Benzene etc. Total institutional sales volume across these product categories in the domestic market reached 2.99 Million Metric Tonnes (MMT), generating a revenue of 15,214 Crore in Financial Year 2024-25. This represents a signi cant increase of 22.5% in volume and 23.6% in value, compared to the previous Fiscal Year 2023-24, which recorded sales of 2.44 MMT and revenue of 12,313 Crore.

w Your company has expanded its product portfolio withe introduction of Toluene and Mineral

Turpentine Oil (MTO). These products have been highly appreciated by customers and have reported remarkable volume growin a short period.

w In line withe strategy to strengthen and expand its retail footprints, your Company successfully commissioned 66 HiQ retail outlets during FY 2024-

25. Notably, the Company marked its entry into the Tamil Nadu market by commissioning three HiQ outlets. As of 31 March 2025, the total number of operational HiQ retail outlets stood at 167, marking a substantial expansion across Karnataka, Kerala & Tamilnadu. Furthermore, as part of its forward-looking market penetration strategy, MRPL has initiated steps to expand into Andhra Pradesh by launching it's rst-ever advertisement campaign for the award of MRPL HiQ Retail Outlet dealerships in the State.

w The Polymer segment continued its growtrajectory, achieving the highest-ever annual sales volume of Polypropylene at 473 Thousand Metric Tonnes (TMT) during Financial Year 2024-25 compared to 384 TMT in the previous year, re ecting a robust 23.2% year-on-year growth. MRPL has actively pursued deeper market integration by opening additional depots and CS locations in high-demand zones, particularly targeting small-volume buyers and MSME. Your company also introduced Cast Polypropylene (CPP lm grade) in the market to cater to niche packaging applications, making its foray into specialty polymer product innovations.

w Your Company's joint venture, M/s Shell MRPL Aviation Fuel and Services Limited (SMAFSL), continued its steady performance in the Aviation Turbine Fuel (ATF) segment, expanding its market share across several airports in SouIndia. SMAFSL achieved a turnover of 2,549 Crore during Financial Year 2024-25, a growof 22.2% over the previous year's turnover of 2,087 Crore, underscoring the increasing trust placed in the JV by the aviation sector and the successful collaborative e orts of boJV partners.

Employee Relations

w Your Company holds its employees in the highest esteem and accordingly follows the best in class Human resource practices, reviews them periodically and strives to further improve upon that. As a result, the employee relations continue to be cordial and harmonious. As in the past years, this year too, not a single man-hour was lost on account of any industrial disturbance. MRPL believes in maintaining healthy, harmonious, and productive industrial relations. Standing Orders (Non-Management Employees) and CDA Rules (applicable for Management employees) de ne the model behavioral requirement of the relevant employee groups and recourse in case of deviations. Your Company adheres to all relevant statutory requirements and abides by guidelines/ requirements of the relevant local authorities. The Company works towards ensuring safe working conditions and ensures that statutes are adhered.

Environment, Social Responsibility and Sustainable Development

w Your Company has set a Net Zero target (Scope-1,2) by the year 2038.

w Your Company continues to produce renewable energy through sources such as solar power to reduce its carbon footprint. In addition, MRPL has implemented energy-e cient technologies and practices to reduce energy consumption. During Financial Year 2024-25, total solar energy generated by MRPL was 8,838 MWh and total solar energy consumed was 56,729 MWh (including the solar energy purchased).

w Your Company has taken up several energy e ciency improvement measures and has achieved a total fuel savings of 38,725 MT of Oil equivalent.

w Your Company is having a robust waste management system, which includes recycling, reusing, and responsible disposal of hazardous waste. Hazardous waste is co-processed through cement industries where it is used as alternate source of energy. Spent catalyst is recycled through SPCB authorized recyclers and precious metals are recovered. During Financial Year 2024-25, 78.54% of total hazardous and non-hazardous waste was recycled and re-used and remaining hazardous and non-hazardous waste were co-processed in cement industry, thereby achieving minimum quantity of hazardous waste disposal to Treatment, Storage and Disposal Facility (TSDF) & Incineration, which are only 0.15% and 0.06% respectively. Oily sludge generated in ETP was re-used in the DCU unit as an e ective method of reducing waste.

w Your Company has implemented many water-conservation measures by investing in water treatment and recycling technologies to reduce its water footprint. During Financial Year 2024-25, 57.50% of E uent Treatment Plant (ETP) feed ow was recycled and re-used in the re nery. 56,77,318 M3 (Cubic Meter) of desalinated water from plant was utilized in MRPL during Financial Year 2024-25. In addition to the de-salination plant, MRPL is utilizing Mangalore city treated sewage water to reduce its fresh river water consumption. During Financial Year 2024-25, total Mangalore city treated sewage water utilized in the re nery is 52,64,327 M3.

w Your Company has undertaken several greenbelt development and compensatory a orestation initiatives to increase its green cover. A 50-acre greenbelt has been developed at Pilikula Biodiversity Park wiapproximately 4,000 native plant species of Western Ghats. Additionally, a 25-acre a orestation project at Bengre was carried out in coordination withe Karnataka Forest Department, planting locally adaptable tree species along the seashore, which helped to reduce the impact of salt-laden breeze on downstream coastal facilities.

w During Financial Year 2024 25, approximately 41 MT of vermi-compost was harvested from three in- house vermi-composting units. These units o er a sustainable solution for managing organic waste by converting it into nutrient-rich vermi-compost. This initiative not only supports e ective waste management but also reduces the dependence on inorganic fertilizers by producing a natural alternative, thereby creating value from waste.

w As part of its green initiatives during Financial Year 2024 25, your company planted 5,762 saplings comprising of native, locally adaptable and fruit-bearing species within the re nery premises. Additionally, 2,239 fruit tree saplings were distributed under the 'Ek Ped Maa Ke Naam' plantation drive, promoting environmental stewardship and encouraging community participation.

I would like to acknowledge the support and guidance of the Government of India, especially our administrative ministry "Ministry of Petroleum and Natural Gas" (MoP&NG). I also place on record my admiration for our employees for their excellent contribution and to the Board of Directors for their expertise and guidance. On behalf of the Board, I would also like to express my gratitude to all our stakeholders for their continued support, patronage, trust and con dence.

Jai Hind.
Sd/-
Date: 25/07/2025 Arun Kumar Singh
Place: New Delhi (Chairman)

   

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