New Delhi: Numaligarh Refinery Limited (NRL), a subsidiary of Oil India Limited, has reported a standout financial and operational performance for the second quarter and half-year ended 30 September 2025. The company’s results were approved at its Board Meeting held in Noida, showcasing strong profitability driven by improved refining margins, operational reliability, and prudent fiscal management.
PAT Surges Over Four Times in Q2FY26
NRL’s standalone Profit After Tax (PAT) for Q2FY26 jumped to ₹724.83 crore, a more than four-fold rise from ₹175.04 crore in the same quarter of FY25.
Earnings Per Share (EPS) for the quarter rose to ₹4.61, compared to ₹1.13 last year, reflecting a sharp improvement in profitability.
Read also: Numaligarh Refinery Ltd (NRL) Wins ‘Efficient Refinery of the Year’ at GRPC 2025
H1FY26 Profit Nearly Doubles
For the half year ending September 2025, NRL recorded a PAT of ₹1,213.06 crore, almost double the ₹605.58 crore achieved in H1FY25.
The company’s EPS for H1FY26 stood at ₹7.62, up from ₹3.91, indicating sustained financial strength across the first two quarters.
Higher Refining Margins Boost Financial Gains
NRL’s refining economics improved significantly, with the company registering an average Gross Refining Margin (GRM) of USD 7.73 per barrel in H1FY26, up from USD 4.45 per barrel a year earlier.
Additionally, the company’s Non-Convertible Debentures (NCDs) issue drew overwhelming investor interest—oversubscribed more than 12 times—enabling NRL to raise ₹2,500 crore at competitive rates.
Operational Highlights: 100%+ Capacity Utilisation Achieved
Operational performance remained strong during the quarter. NRL processed 752.87 TMT of crude oil in Q2FY26, surpassing 100% capacity utilisation and improving from 683.42 TMT in Q2FY25.
For H1FY26, total crude throughput reached 1,552.19 TMT, compared to 1,447.53 TMT last year, showcasing enhanced reliability and consistent unit availability.
Strategic Projects Gain Momentum
NRL made significant progress across multiple strategic growth projects, including:
- Refinery Expansion Project to 9 MMTPA
- Paradip–Numaligarh Crude Oil Pipeline (PNCPL)
- 360 KTPA Polypropylene Unit
A major milestone of the quarter was the commissioning of the 2G Ethanol Plant by Assam Bio Ethanol Pvt. Ltd. (ABePL), NRL’s joint venture. The plant was inaugurated by Prime Minister Narendra Modi on 14 September, marking a key advancement in India’s clean energy and biofuel push.
About Numaligarh Refinery Limited (NRL)
Numaligarh Refinery Limited (NRL) is a subsidiary of Oil India Limited (OIL), located in the northeastern region of India, in Numaligarh, Assam. Established in 1993, the refinery plays a critical role in the country’s energy sector, producing a wide range of petroleum products. NRL is a significant player in India’s refining and petrochemical industries, serving both regional and national markets.
Read also: NBCC Secures ₹340.17 Crore Work Order for Central University of Kashmir Construction at Tulmulla
