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.