Earnings start to peak out; reiterate Sell

Company
07 May 2024
5 Min read 
  • MRPL's 4QFY24 results show a solid beat vs. estimates.
  •  Earnings are expected to decline from 1QFY25 due to weaker SG GRM QoQ.
  •  The company is building equity shares and modeling a throughput of 17mmt in FY25/FY26.
  •  Strong FCF generation and reduction in debt are positive points.
  •  Valuations remain expensive, leading to a reiteration of a Sell rating.
  •  The company's strategic investments and initiatives include petchem integration and retail expansion.
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