Mangalore Refinery and Petrochemicals Ltd (MRPL) is planning to open 100-150 retail outlets during the current financial year, according to Sanjay Varma, Managing Director of the company.

Replying to the queries of shareholders at the 35th annual general meeting of MRPL on Friday, he said MRPL had 63 retail outlets at the end of the financial year 2022-23. The company is planning to add another 100-150 outlets during 2023-24.

The company is aggressively going ahead with its plans for the expansion of retail outlets, he said.

While addressing the shareholders earlier, Arun Kumar Singh, Chairman of MRPL, said there are plans to have 1,000 retail outlets of MRPL in the next five years. The company intends to sell around 1 million tonnes of petrol and diesel through its retail outlets in the next five years.

Cost competitiveness

He said that cost competitiveness is important in a challenging market and is a key aspect of MRPL’s operational strategy. Energy efficiency opportunities have been identified for implementation and these are expected to bring down the energy footprint of the company further, he said.

Stating that the polypropylene business of MRPL has a near pan-India presence, Singh said presence of petrochemicals in the product portfolio is giving leverage for profit maximisation.

During 2022-23, MRPL’s polypropylene production achieved its nameplate capacity of 440 KTPA (kilo tonnes per annum). The sales of polypropylene were at 434 KTPA during the year.

Stating that MRPL has a good research and development team, Varma said the company has applied for 19 patents. As of now, it has four patents. He hoped that petrochemicals and patents would provide the company with more opportunities for revenue growth.

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