New Delhi: Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of Oil and Natural Gas Corporation (ONGC), announced its audited financial results for the fourth quarter and full financial year ended March 31, 2026, showcasing a sharp improvement in profitability.
The results were approved during the company’s 274th Board Meeting held in Mangalore, where directors reviewed operational and financial performance for FY26.
Q4 FY26 Performance: Profit Jumps, But Net Earnings Decline
In the fourth quarter of FY26, MRPL posted moderate revenue growth alongside a significant rise in pre-tax profits:
- Revenue from operations increased to ₹28,493 crore, up 3.2% year-on-year
- Profit Before Tax (PBT) surged to ₹1,235 crore, more than doubling from ₹584 crore
- EBITDA rose sharply to ₹1,842 crore, reflecting improved operational efficiency
However, Profit After Tax (PAT) declined to ₹119 crore compared to ₹363 crore in Q4 FY25, indicating margin pressures and cost-related challenges during the quarter.
Read also: MRPL Wins FIPI Innovator of the Year (Team) Award 2025, Young Achiever Honours at India Energy Week
Full-Year FY26: Strong Earnings Recovery
MRPL delivered a remarkable turnaround in its full-year performance despite a slight dip in revenue:
- Revenue stood at ₹1,05,155 crore, marginally lower than ₹1,09,280 crore in FY25
- Profit Before Tax jumped to ₹4,022 crore from ₹113 crore
- Profit After Tax soared to ₹1,931 crore from just ₹51 crore in the previous year
- Total Comprehensive Income reached ₹1,833 crore
The strong earnings rebound was largely driven by improved refining margins and better operational efficiency.
EBITDA and Refining Margins See Significant Growth
The company reported a substantial increase in EBITDA, which rose to ₹6,449 crore in FY26 from ₹2,469 crore in FY25.
Gross Refining Margin (GRM) nearly doubled to $9.22 per barrel, compared to $4.45 per barrel last year—highlighting improved profitability in core refining operations.
Operational Performance and Expansion
MRPL recorded a total throughput of 17.0 million metric tonnes (MMT) in FY26, slightly lower than 18.18 MMT in FY25.
Key operational developments include:
- Commissioning of 85 new retail outlets, expanding the total network to 252 outlets
- Full operationalization of the Devangonthi marketing terminal, strengthening inland distribution capabilities
These initiatives reflect the company’s focus on expanding its downstream presence and improving market access.
Consolidated Financial Performance
On a consolidated basis, MRPL reported strong growth:
- Profit After Tax (attributable to owners) stood at ₹1,825 crore for FY26, compared to ₹56 crore in FY25
- Total Comprehensive Income reached ₹1,827 crore
For Q4 FY26, consolidated PAT stood at ₹117 crore, slightly lower than ₹371 crore in the corresponding quarter last year.
Recognition at India Energy Week
MRPL received the prestigious “Innovator of the Year (2025)” award at India Energy Week.
The award was presented by Hardeep Singh Puri, recognizing the company’s excellence in refining innovation and indigenous technological development.
About MRPL
Mangalore Refinery and Petrochemicals Limited (MRPL) is a leading oil refinery in India and a subsidiary of Oil and Natural Gas Corporation. Classified as a Schedule “A” Mini Ratna Category I company, MRPL operates a state-of-the-art refinery in Mangalore and plays a key role in India’s petroleum sector, with a growing presence in refining, marketing, and fuel retailing.
Read also: MRPL Posts Strong Financial Turnaround in Q3 FY 2025-26 with Sharp Rise in Profit and Revenue
