Petronet MHB Ltd (PMHBL)
Petronet MHB Ltd. (PMHBL) is a joint venture of ONGC and HPCL with equity shareholding of 32.72% each and balance 34.56% of equity is being held by banks. PMHBL became the subsidiary of the Company, post HPCL acquisition.
PMHBL owns and operates a multiproduct petroleum pipeline to transport MRPL Refinery’s products to various parts of Karnataka.
During 2017-18, PMHBL has achieved highest ever throughput of 3.5 MMT as compared to 3.43 MMT during previous year. PMHBL has registered highest ever total revenue of Rs 171.13 crore as compared to Rs 170.20 crore in the previous year and recorded the highest ever net profit of Rs 83.46 crore as compared to Rs 80.95 crore achieved in 2016-17. PMHBL has paid its maiden interim dividend of 9% to the shareholders for the year 2017-18.
To expand the pipeline network further, PMHBL has submitted the Expression of Interest to PNGRB for laying a petroleum product pipeline from Hassan to Chitradurga (from existing Hassan Pumping station) in Karnataka state.
PMHBL’s Integrated Management System (IMS) is certified with ISO-9001 for quality management, ISO-14001 for environmental management, OHSAS–18001 for occupational health and safety management and ISO-50001 for energy management. The company has also deployed various updated technology solutions for its operations as per International standards.