Quarterly Financial Results (Q1 FY27)
MRPL Reports ₹915 Crore Profit in Q1 FY27 as Revenue Nearly Doubles YoY
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Mangalore Refinery and Petrochemicals Limited (MRPL) reported a strong turnaround for the quarter ended June 30, 2026. Revenue from operations nearly doubled year-on-year to ₹41,609 crore, while the company posted a standalone PAT of ₹915 crore compared to a loss in the corresponding quarter last year.
PRICE-SENSITIVE TRIGGER
Event: MRPL announced its unaudited financial results for the first quarter of FY 2026-27.
Type: Quarterly Financial Results (Q1 FY27)
Impact: Positive
Immediate Effect: The company returned to profitability with significant improvement in revenue, refining throughput, EBITDA and earnings compared to the corresponding quarter of the previous year.
Financials:
Key Metrics:
- Revenue from Operations: ₹41,609 crore (vs ₹20,989 crore YoY | +98.2% YoY)
- EBITDA: ₹1,860 crore (vs ₹218 crore YoY | +753% YoY)
- Profit Before Tax (PBT): ₹1,215 crore (vs Loss of ₹403 crore YoY)
- Profit After Tax (PAT): ₹915 crore (vs Loss of ₹272 crore YoY)
- Total Comprehensive Income: ₹912 crore (vs Loss of ₹277 crore YoY)
- Exports: ₹5,012 crore (vs ₹4,767 crore YoY | +5.1% YoY)
- Refinery Throughput: 4.43 MMT (vs 3.52 MMT YoY | +25.9% YoY)
Highlight:
- Standalone PAT:₹915 crore, reflecting a turnaround from a ₹272 crore loss reported in Q1 FY26.
What Happened ?
The Board of Directors approved MRPL’s standalone and consolidated financial results for the quarter ended June 30, 2026.
The company delivered a sharp recovery in earnings supported by higher refining throughput and a substantial increase in revenue. MRPL also reported positive operational developments, including pipeline approvals, expansion of product loading infrastructure, and progress in Sustainable Aviation Fuel (SAF) certification.
key details
Financial Performance:
- Revenue from operations almost doubled year-on-year to ₹41,609 crore.
- EBITDA improved significantly to ₹1,860 crore.
- Standalone PAT increased to ₹915 crore, reversing the loss reported in the corresponding quarter last year.
- Consolidated PAT attributable to owners of the company stood at ₹946 crore.
Operational Highlights:
- Refinery throughput increased to 4.43 MMT, compared with 3.52 MMT in Q1 FY26.
- PNGRB authorization was received for the ATF pipeline connecting Devanagonthi Terminal to Kempegowda International Airport, Bengaluru.
- Product loading commenced at:
- Aegis Terminal, Mangaluru
- Hindupur Depot, Andhra Pradesh
- Ennore Terminal, Tamil Nadu
- Lease agreements were executed for tankages at:
- JNPA, Navi Mumbai
- Kakinada, Andhra Pradesh
- Krishnapatnam, Andhra Pradesh
- MRPL obtained ISCC CORSIA certification for co-processing of Used Cooking Oil (UCO), marking an important milestone in its Sustainable Aviation Fuel (SAF) initiative.
- The company received the Second Prize (Category B) in the Swachhta Pakhwada Awards 2023 and a Consolation Prize in the 2024 edition from the Ministry of Petroleum & Natural Gas.
Note: The company did not issue earnings guidance or outlook for subsequent quarters.
Risk Analysis
Summary:
- Despite a strong quarterly recovery, refining companies remain exposed to fluctuations in crude oil prices, refining margins and global fuel demand.
Key Risks:
- Refining margins remain sensitive to international crude price movements.
- Earnings may fluctuate with inventory gains or losses.
- Export realizations depend on global demand and product spreads.
- No forward guidance has been provided by the company.
Worst Case:
- A decline in gross refining margins (GRMs), weaker fuel demand or higher crude volatility could impact profitability in upcoming quarters.
Risk Level: Medium
Company Commentary
- The Board approved the unaudited financial results for Q1 FY27.
- Revenue from operations reached ₹41,609 crore.
- Standalone PAT improved to ₹915 crore from a loss in the previous year’s corresponding quarter.
- Refinery throughput increased to 4.43 MMT.
- The company continued expanding logistics infrastructure and achieved ISCC CORSIA certification for its Sustainable Aviation Fuel initiative.
Official Exchange Filing: Mangalore Refinery and Petrochemicals Limited (MRPL)
