Mumbai: Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of Oil and Natural Gas Corporation (ONGC), has reported a significant increase in its financial performance for the second quarter of the financial year 2026-27 (Q2 FY27). The company recorded a standalone net profit of ₹1,880.89 crore for the quarter ended September 30, 2026, compared with ₹638.67 crore in the corresponding quarter of the previous financial year.
Mumbai: MRPL’s revenue from operations increased to ₹35,590.40 crore in Q2 FY27 from ₹25,953.34 crore in Q2 FY26. The improvement in profitability was supported by higher revenue, stronger operating margins and a lower effective tax rate. The company also declared an interim dividend of ₹3 per equity share for FY27.
MRPL Q2 FY27 Results: Key Financial Highlights
MRPL recorded strong year-on-year growth in revenue and net profit during the July-September quarter. The key financial highlights are:
- Standalone net profit: ₹1,880.89 crore, compared with ₹638.67 crore in Q2 FY26.
- Revenue from operations: ₹35,590.40 crore, up from ₹25,953.34 crore in the year-ago quarter.
- Operating margin: Increased to 8.82% from 4.93%.
- Effective tax rate: Declined to 25.168% from 34.944%.
- Interim dividend: ₹3 per equity share for FY27.
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MRPL Revenue Increases to ₹77,199 Crore in H1 FY27
MRPL also reported substantial revenue growth during the first half of FY27. Revenue from operations for the six months ended September 30, 2026, reached ₹77,199 crore, compared with ₹46,942 crore in the corresponding period of the previous financial year.
The increase reflects higher revenue generation during the first six months of the fiscal year. However, the company’s ability to sustain this performance will depend on refining margins, operating costs, market conditions and the restoration of normal operations following the recent refinery fire.
MRPL Net Profit Rises Nearly 195% Year-on-Year
MRPL’s standalone net profit increased by approximately 195% year-on-year, rising from ₹638.67 crore in Q2 FY26 to ₹1,880.89 crore in Q2 FY27.
The company’s operating margin expanded to 8.82% from 4.93% in the corresponding quarter last year, indicating an improvement in operating profitability.
The effective tax rate also declined to 25.168% from 34.944%, following the adoption of the lower tax regime under the Finance Act, 2026. This reduction contributed to the improvement in reported earnings.
Despite the strong quarterly performance, operating costs, refining conditions and the impact of recent operational disruptions will remain important factors in determining whether MRPL can maintain its earnings momentum.
MRPL Reports ₹118.76 Crore Charge After Refinery Fire
MRPL’s Q2 FY27 financial results include an exceptional charge of ₹118.76 crore related to a fire at the Coker Hydrotreater (CHT) unit in Phase III of the refinery on September 30, 2026. The company has accounted for losses associated with damaged assets and inventory. The affected assets have been reported as adequately insured, making insurance recovery and the restoration of normal operations important developments to monitor.
The incident could affect refinery throughput, product availability and operating performance, depending on the extent and duration of the disruption. The progress of restoration work and the settlement of eligible insurance claims will therefore be important in assessing MRPL’s performance in the coming quarters.
MRPL Expands Petrochemical Marketing Business Through OPML
MRPL has taken a strategic step towards strengthening its petrochemical marketing presence by acquiring a 25% stake in the newly incorporated ONGC Petrochemicals Marketing Limited (OPML).
The venture involves ONGC and ONGC Petro additions Limited (OPaL) and aims to strengthen the marketing and distribution of petrochemical products.
The initiative could provide MRPL with additional business opportunities and expand its participation in the petrochemical value chain. It also represents a move towards broadening the company’s business activities beyond its core refining operations. The venture’s long-term contribution will depend on market demand, distribution capabilities and business execution.
MRPL Declares Interim Dividend of ₹3 Per Share
MRPL’s board has declared an interim dividend of ₹3 per equity share for FY27, providing a direct return to eligible shareholders following the strong second-quarter performance.
The important dividend details are:
- Dividend amount: ₹3 per equity share.
- Record date: October 21, 2026.
- Scheduled payment deadline: November 4, 2026.
Shareholders should refer to MRPL’s official stock exchange filings for the applicable eligibility requirements and payment details.
What Lies Ahead for MRPL?
MRPL’s Q2 FY27 results reflect significant growth in revenue and profitability, supported by improved operating margins and a lower effective tax rate. Its petrochemical marketing venture could also provide an additional avenue for business expansion.
Going forward, the restoration of the fire-affected Coker Hydrotreater unit, insurance recovery, management of operating costs and the sustainability of refining margins will be key factors to watch. The progress of the OPML venture will also be important in assessing MRPL’s future business growth and financial performance.
About Mangalore Refinery and Petrochemicals Limited (MRPL)
Mangalore Refinery and Petrochemicals Limited (MRPL) is a public sector oil refining and petrochemicals company and a subsidiary of Oil and Natural Gas Corporation (ONGC). Based in Mangaluru, Karnataka, the company processes crude oil into petroleum products and produces petrochemical feedstocks. MRPL plays an important role in India’s downstream oil and gas sector through its refining operations and expanding presence in petrochemical marketing.
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