
MRPL vs Gujarat Narmada Valley Fertilizers: Share Price, PE, ROE Compared
MRPL MCap Rs 28,620 Cr, PE 9.11x, ROE 13.56%, Div 2.45%. GNFC MCap Rs 7,994 Cr, PE 7.71x, ROE 8.86%, Div 3.86%.
Updated: 12 Aug 2026 • 3:39 pm
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MRPL vs Gujarat Narmada Valley Fertilizers (GNFC) is a comparison PSU industrial investors look up when evaluating two affordable, dividend-paying government-linked Indian companies. MRPL (Mangalore Refinery and Petrochemicals Limited), an ONGC subsidiary based in Mangalore, is India's largest petroleum refinery by complexity. GNFC (Gujarat Narmada Valley Fertilizers and Chemicals), a Gujarat state government enterprise based in Bharuch, manufactures fertilizers (urea, ammonium nitrate) and industrial chemicals (toluene di-isocyanate/TDI, methanol). In the MRPL versus GNFC comparison, both trade at cheap PE ratios and pay meaningful dividends.
This MRPL vs Gujarat Narmada Valley Fertilizers article covers reach and market position, key products, latest declared results and stock valuation. All data is sourced from Groww and public company filings.
Reach and Market Position
In this MRPL vs Gujarat Narmada Valley Fertilizers comparison, MRPL refines crude oil at its Mangalore refinery processing 21+ MTPA capacity, selling petroleum products (petrol, diesel, ATF, LPG) to PSU oil companies and through retail. Market capitalisation is Rs 28,620 Cr.
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GNFC produces urea, ammonium nitrate fertilizers and specialty chemicals (TDI, methanol, acetic acid) at its Bharuch plant, serving farmers and industrial companies across India. Market capitalisation is Rs 7,994 Cr.
Key Products and Business Mix
For the MRPL vs Gujarat Narmada Valley Fertilizers product breakdown, MRPL: MRPL earns from petroleum product refining with GRM (gross refining margin). EPS is Rs 17.92. PE is 9.11x (very affordable), ROE 13.56 percent, D/E 1.08, Div 2.45 percent.
Gujarat Narmada Valley Fertilizers: GNFC earns from fertilizer and specialty chemical sales. EPS is Rs 70.57. PE is 7.71x (extremely affordable!), ROE 8.86 percent, zero debt, Div 3.86 percent (excellent dividend yield!).
Latest Results and Financial Data
On the MRPL vs Gujarat Narmada Valley Fertilizers results front: MRPL has a market cap of Rs 28,620 Cr and PE of 9.11x. ROE is 13.56 percent. Comparing MRPL and GNFC, MRPL is 3.6 times larger with a higher ROE.
GNFC has a market cap of Rs 7,994 Cr and PE of 7.71x. ROE is 8.86 percent. GNFC has zero debt and a higher dividend yield at 3.86 percent – one of the highest in this B28 batch.
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Stock Performance and Valuation
Investors tracking the MRPL vs Gujarat Narmada Valley Fertilizers comparison should verify current prices on NSE or BSE before trading. The MRPL vs Gujarat Narmada Valley Fertilizers stock data below reflects the latest available figures from Groww and public company filings.
MRPL vs GNFC valuation: MRPL at PE 9.11x and GNFC at PE 7.71x are both extremely affordable by Indian market standards. GNFC has zero debt versus MRPL's D/E 1.08. GNFC pays a higher dividend (3.86%) while MRPL's dividend (2.45%) is also solid for income investors.
MRPL vs Gujarat Narmada Valley Fertilizers: Quick Comparison Table
The comparison table below summarises the key metrics side by side.
| Parameter | MRPL | Gujarat Narmada Valley Fertilizers |
|---|---|---|
| Sector | Petroleum refining: 21+ MTPA crude (ONGC subsidiary, Mangalore) | Fertilizers + chemicals: urea, TDI, methanol (Gujarat state PSU, Bharuch) |
| Market Cap | Rs 28,620 Cr | Rs 7,994 Cr |
| P/E Ratio | 9.11x (very affordable) | 7.71x (extremely affordable!) |
| ROE | 13.56% | 8.86% |
| Debt to Equity | 1.08 | 0.00 (zero debt!) |
| Dividend Yield | 2.45% | 3.86% (high) |
| Ownership | ONGC (majority PSU subsidiary) | Gujarat state government (PSU) |
Conclusion
The MRPL vs Gujarat Narmada Valley Fertilizers comparison above covers reach, products, results and valuation. The MRPL versus GNFC comparison shows two affordable PSU-linked companies in completely different industries. MRPL is a petroleum refinery whose earnings depend on refining margins (crude oil spread). GNFC is a fertilizer and specialty chemical company. In the MRPL and GNFC comparison, GNFC offers a zero-debt balance sheet and higher dividend yield; MRPL offers a larger scale and higher ROE. Both are valued below their sector peers on PE. Consult a SEBI-registered advisor for personalised guidance.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What does MRPL do?
Ans. MRPL (Mangalore Refinery and Petrochemicals Limited) is a petroleum refinery processing crude oil into petrol, diesel, aviation turbine fuel (ATF), LPG and other petroleum products. MRPL is a subsidiary of ONGC.
What does GNFC do?
Ans. GNFC (Gujarat Narmada Valley Fertilizers and Chemicals) manufactures urea and ammonium nitrate fertilizers for Indian farmers, and specialty chemicals including toluene di-isocyanate (TDI) and methanol for industrial customers.
What is MRPL's PE ratio?
Ans. MRPL trades at a PE of 9.11x – a very low valuation compared to most Indian listed companies.
Which is larger, MRPL or GNFC?
Ans. MRPL at Rs 28,620 Cr is approximately 3.6 times larger than GNFC at Rs 7,994 Cr.
Does GNFC pay dividends?
Ans. Yes. GNFC pays a dividend yield of approximately 3.86 percent – significantly higher than MRPL's 2.45 percent dividend yield.
Is MRPL owned by ONGC?
Ans. Yes. ONGC (Oil and Natural Gas Corporation) holds a majority stake in MRPL. GNFC is owned by the Government of Gujarat (Gujarat state PSU).
What is GRM in refining?
Ans. GRM (Gross Refining Margin) is the difference between the value of petroleum products produced and the cost of crude oil processed. Higher GRM means more profit for MRPL per barrel refined.
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