Sea Survival Training
- Why is Sea Survival Training critical?
- ONGC’s Sea Survival Centre: A National, and indeed, a Global asset
- Safety is paramount and valuable
- A Training for all!
- Other important training protocols
MRPL, a subsidiary of ONGC, records higher throughput and distillate yield but records lower GRM due to lower complexity operation.
| 1. | Highlights |
| MRPL during the year increased its throughput with the availability of its additional 3 MMT Primary Processing Unit both in Q4 of FY-13 : 4.12 MMT and in FY-13 : 14.40 MMT. | |
| MRPL records higher distillate yield both in Q4 of FY-13 : 76.22% and in FY-13 : 76.55%. | |
| Despite steep variation in prices and exchange rate during the beginning of Financial Year the Company posted a modest GRM in Q4 of FY-13 US$ 1.98/bbl and for FY-13 US$ 2.45/bbl. | |
| Company posted a lower EBIDTA in Q4 FY-13 Rs283 crore and in FY-13 Rs456 crore. | |
| B. | Financial Results |
| 1. | The Mangalore Refinery And Petrochemicals Limited, a subsidiary of Oil And National Gas Corporation (ONGC), a Category I Mini Ratna announces its Audited Results for the Fourth Quarter of FY-13 and for the Financial Year FY-13. |
| 2. | Fourth Quarter Results – FY-13 |
| The Company increased its throughput from 3.41 MMT to 4.12 MMT an increase of 21%. The Company could achieve higher distillate yield of 76.22% as against 75.32% (an increase of 1%) in the corresponding period. The Q4, EBIDTA stood at Rs 283 crore as compared to Rs1,054 crore in the corresponding period. The gross revenue in Q4 of FY-13 stood at Rs 19,462 crore up by 17%. The EBT for the period stood at Rs46 crore as compared to Rs 892 crore The earnings before tax is after considering an amount of Rs71 crore (Rs 37 crore ) towards interest, Rs 166 crore (Rs125 crore) towards depreciation and Rs86 crore towards exchange gain (Rs 226 crore). | |
| 3. | Financial Year 2012-13 Results |
|
The throughput with the addition of new 3 MMT CDU/VDU unit has gone up from 12.82 MMT in FY-12 to 14.40 MMT in FY-13 recording an increase of 12%. The Company’s Gross Turnover increased from Rs 57,207 crore to Rs 68,834 crore recording an increase of 20%. In view of the progressive commissioning schedule of Phase III upgradation project getting delayed, the benefit of increased complexity operation at higher throughput level could not be achieved. However, even without the higher complexity operation the distillate yield has gone up from 73.27% to 76.55%, an increase of 4.48%. The increased physical throughput and distillate yield enabled the Company record an EBIDTA of Rs456 crore as against Rs1,961 crore of previous year. The EBT for the year stood at Rs (477) crore as compared to Rs1,320 crore. The negative EBT is after considering an amount of Rs 329 crore (Rs 207 crore) towards interest and Rs 604 crore (Rs434 crore) towards depreciation and Rs 536 crore (Rs 648 crore) exchange losses. |
|
| Dividend: | |
| In view of the losses for the financial Year 2012-13 the Board of Directors did not consider to declare any dividend (due to restriction as per statute for declaration of dividend out of accumulated reserves). | |
SUMMARISED OPERATIONAL AND FINANCIAL HIGHLIGHTS
| Particulars | Q4 | FY 2012-13 | ||||
|---|---|---|---|---|---|---|
| 2012-13 | 2011-12 | % Variation | 2012-13 | 2011-12 | % Variation | |
| Throughput (TMT) | 4.12 | 3.41 | 21% | 14.40 | 12.82 | 12% |
| Distillate Yield (%) | 76.22 | 75.32 | 1% | 76.55 | 73.27 | 4% |
| Gross Turnover (Rs in Crore) | 19462 | 16646 | 17% | 68834 | 57207 | 20% |
| Export Turnover (Rs in Crore) | 9676 | 6895 | 40% | 33340 | 23418 | 42% |
| GRM(EBIDTA) | 1.98 | 7.07 | 2.45 | 5.60 | ||
| PAT (Rs in Crore) | (62) | 602 | (757) | 909 | ||
| GRM Break up | ||||||
| Operating GRM (Rs in Crore) | 353 | 458 | 1643 | 1949 | ||
| Exchange gain/(loss) | 86 | 226 | (536) | (648) | ||
| Inventory gain/(loss) | (26) | 457 | (232) | 779 | ||
Marketing Highlights:
The Company embarked into bulk sales of HSD after the introduction of dual pricing for HSD. The turnover of Direct Marketing stood at Rs 2,583 crore as compared to Rs 2,755 crore. The recent hike in Retail Price of HSD, the Company is once again considering entering the Retail Marketing. The Company’s Joint Venture for marketing ATF has performed well and has increased its level of operation.
Phase III Refinery Upgradation and Expansion Project:
The Phase III Upgradation and Expansion Project has achieved an overall progress of 98.8% as on 15.5.2013. The remaining units to be commissioned are only PFCCU, DCU & CHT. The Power Plant is anticipated to be fully commissioned by October 2013.
It is anticipated that by Q4 of FY-14, all units will become operational and also stabilize by end of FY-14.
The SPM is schedule for commissioning by end May 2013 with the defect rectification work getting completed.
Speaking on the occasion Shri Sudhir Vasudava-Chairman complemented the Team MRPL for the excellent physical performance and urged for concerted efforts for improving the financial performance. He emphasized that all should endeavor and extend full support and commitment for commissioning the balance units at the earliest which will enable to turnaround the Company’s performance.
Issued By Oil and Natural Gas Corporation Ltd. Corporate Communications, New Delhi, Phone: +91-11-23320032 Tele-Fax: 011-23357860 Mail: ongcdelhicc@ongc.co.in
