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MRPL Q1 Results Review - Weak Performance On Lower GRMs From Higher Discounted Product Exports: Yes Securities

The brokerage maintains Add rating on stock with an unchanged target price of Rs 257, valuing the stock at 10.7 times FY26e EV/Ebitda.

<div class="paragraphs"><p>Mangalore Refinery and Petrochem Ltd.’s oil refinery. (Source: Company website).</p></div>
Mangalore Refinery and Petrochem Ltd.’s oil refinery. (Source: Company website).
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