Key Metrics of Mehta Petro-Refineries Ltd
About Mehta Petro-Refineries Ltd
Sectors
Company details
Operational Areas of Mehta Petro-Refineries Ltd
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
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Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 07 Oct 2026 | ICRA | Reaffirmed | BBB- | A3 | Stable | ₹200 Cr | View |
Credit strengths (ICRA, Oct 2026)
+ Diversified product portfolio and established association with customers across various segments
MPRL’s revenues are primarily derived from the domestic market, such as the paint, printing ink, pesticide and insecticide sectors.
+ Healthy capital structure
The company’s capital structure is healthy with the gearing at 0.5 times as on March 31, 2026, which improved from 0.8 as on March 31, 2025.
Credit challenges
− Moderate operating profitability
The company’s operating profitability remained moderate, reflected in an OPM of 2.4% in FY2026, marginally lower than 2.5% in FY2025 and significantly below 6.2% in FY2023, owing to volatility in raw material prices and intense competition.
− Vulnerability to forex risk from imports
The company is exposed to forex risks as it imports a sizeable portion of the key raw materials.
− Intense competition with limited entry barriers in terms of technology and manufacturing operations
Low technological complexity and moderate capital investment in setting up a manufacturing plant for solvent products has prompted several smaller players to set up operations.
Could lead to an upgrade
ICRA may upgrade MPRL’s ratings if there is a sustained improvement in the company’s profitability and debt coverage indicators while maintaining healthy revenues and an adequate
Could lead to a downgrade
The ratings may be downgraded if there is a significant contraction in the scale of operations and/or moderation in margins, resulting in weak cash accruals and impacting the
Agency-reported financials (ICRA, 07 Oct 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income | ₹597 Cr | ₹546 Cr |
| PAT | ₹6.00 Cr | ₹5.70 Cr |
| OPBDITA/OI | 2.5% | 2.4% |
| PAT/OI | 1.0% | 1.0% |
| Total outside liabilities/Tangible net worth (times) | 1.40× | 1.30× |
| Total debt/OPBDITA (times) | 6.10× | 5.20× |
| Interest coverage (times) | 1.90× | 2.00× |
| Revenue growth (YoY) | — | −8.7% |
| EBITDA (margin × income) | ₹14.93 Cr | ₹13.09 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹91.07 Cr | ₹68.07 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹7.86 Cr | ₹6.55 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long term/Short term – Unallocated | Working capital & bank lines | ₹51.3 Cr | ₹61.3 Cr | 19.5% | BBB- / A3 (Stable) | Reaffirmed | ICRA |
| Interchangeable Long term/Short term – Fund | Working capital & bank lines | — | ₹139 Cr | — | BBB- / A3 (Stable) | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 61% |
| Information on file | 33% · missing: Annual results history (3+ years), Liquidity position, Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 61% chance the next rating action is stable or better
- Current rating BBB- (investment grade)
- Interest coverage 2×
- ₹61.25 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Mehta Petro-Refineries Ltd
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
| Outlets operated by Indian Oil. | iocl.com | 1964 | Mumbai, India | |
 Oil and Natural Gas Corporation |
Oil Refining & Marketing · Oil, Gas & Energy | ongcindia.com | 1955 | New Delhi, India |
 GAIL (India) |
Outlets operated by GAIL. | gailonline.com | — | New Delhi, India |
| Oil Refining & Marketing · Oil, Gas & Energy | mrpl.co.in | — | India | |
| Oil Refining & Marketing · Oil, Gas & Energy | cpcl.co.in | 1965 | Madras, India | |
 Petronet LNG |
Oil Refining & Marketing · Oil, Gas & Energy | petronetlng.com | — | New Delhi, India |
 Oil India |
Oil Refining & Marketing · Oil, Gas & Energy | oilindia.nic.in | 1959 | Dibrugarh, India |
| Outlets operated by Indraprasath. | iglonline.net | — | New Delhi, India | |
| Bharat Coking Coal Limited | Stainless Steel & Non-Ferrous Metals · Steel, Metals & Pipes | — | — | Dhanbad, Jharkhand, India |
| Aegis Logistics Limited | Outlets operated by Aegis Logistics. | — | — | Vapi, Maharashtra, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.