Revenue at Rs 25,953 Crore; First Kuwait Neutral Zone Crude Processed and Record Dispatch Achieved at Devangonthi Terminal
NEW DELHI (India CSR): Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of ONGC and a Schedule “A” Mini Ratna Category I Company, announced a remarkable turnaround in its financial performance for the quarter ended September 30, 2025 (Q2 FY26). The company reported a Profit After Tax (PAT) of Rs 639 crore, compared to a loss of Rs 682 crore in Q2 FY25, marking a major recovery driven by operational efficiency, cost control, and strategic crude processing initiatives.
The results were approved by the company’s Board of Directors during its 271st meeting held on October 15, 2025.
Strong Financial Rebound in Q2 FY26
MRPL’s revenue from operations stood at Rs 25,953 crore during Q2 FY26, compared to Rs 28,786 crore in the same period last year. Despite a marginal dip in topline due to lower crude throughput, the company swung back to profitability, reflecting improved gross refining margins and optimized plant operations.
The Profit Before Tax (PBT) rose sharply to Rs 975 crore, against a loss of Rs 1,041 crore in Q2 FY25. Similarly, EBITDA climbed to Rs 1,565 crore from a loss of Rs 414 crore in the corresponding period, underscoring MRPL’s strong operational turnaround.
Half-Year (H1 FY26) Results Indicate Sustained Recovery
For the half year ended September 30, 2025, MRPL recorded revenue from operations of Rs 46,941 crore, compared to Rs 56,075 crore in H1 FY25. Despite lower revenue, the company reported a Profit After Tax (PAT) of Rs 367 crore, compared to a loss of Rs 617 crore in the first half of the previous fiscal.
The half-year EBITDA stood at Rs 1,782 crore, up from Rs 236 crore in H1 FY25, while Profit Before Tax reached Rs 572 crore, reversing a loss of Rs 940 crore last year.
This turnaround highlights MRPL’s effective refinery utilization, cost discipline, and market optimization strategies amid volatile crude prices.
Key Financial & Operational Highlights – MRPL Q2 & H1 FY26
| Particulars | Q2 FY26 | Q2 FY25 | H1 FY26 | H1 FY25 | YoY Change / Remarks |
|---|---|---|---|---|---|
| Revenue from Operations (₹ Crore) | 25,953 | 28,786 | 46,941 | 56,075 | Revenue lower due to planned maintenance and crude mix optimization |
| EBITDA (₹ Crore) | 1,565 | (414) | 1,782 | 236 | Strong recovery led by improved refining margins |
| Profit Before Tax (₹ Crore) | 975 | (1,041) | 572 | (940) | Significant turnaround from losses in previous year |
| Profit After Tax (₹ Crore) | 639 | (682) | 367 | (617) | Return to profitability after four consecutive loss quarters |
| Consolidated PAT (₹ Crore) | 627 | (697) | 357 | (624) | Strong consolidated recovery across business units |
| Throughput (Crude + Others, MMT) | 4.43 | 4.58 | 7.95 | 8.93 | Slight dip due to maintenance but efficiency improved |
| Record Dispatch (Devangonthi Terminal) | 65.40 TKL (Sept 2025) | 57.90 TKL (May 2025) | — | — | Highest-ever dispatch volume achieved |
| New Crude Processed | Kuwait Neutral Zone (API 31.00) | — | — | — | First-time processing strengthens crude diversification |
| Awards & Recognition | 5+ major awards | — | — | — | Recognized for CSR, environment, and HR excellence |
Operational Highlights: Record Dispatch and New Crude Processing
In a significant milestone, MRPL successfully processed a new Kuwait Neutral Zone crude (API 31.00) for the first time in September 2025, diversifying its crude basket and strengthening supply resilience.
The company’s Devangonthi Terminal achieved its highest-ever monthly dispatch of 65.40 TKL in September 2025, surpassing the previous record of 57.90 TKL achieved in May 2025. This achievement underscores MRPL’s enhanced logistics efficiency and growing distribution capacity.
The refinery processed 4.43 million metric tonnes (MMT) of crude and other feedstock in Q2 FY26, compared to 4.58 MMT in the same period last year. For the half-year, throughput stood at 7.95 MMT, slightly lower than 8.93 MMT in H1 FY25, reflecting planned maintenance and operational adjustments.
Consolidated Financials Mirror Strong Performance
On a consolidated basis, MRPL reported a PAT of Rs 627 crore attributable to owners of the company in Q2 FY26, compared to a loss of Rs 697 crore in Q2 FY25. For H1 FY26, consolidated PAT stood at Rs 357 crore, reversing a loss of ₹624 crore a year earlier.
This performance reinforces the company’s steady recovery across business segments and subsidiaries.
Recognition and Awards
The company’s strong sustainability and people-focused initiatives earned multiple accolades in 2025, reflecting its leadership in environment, CSR, and human resource practices. Key recognitions include:
- Winner in the Excellence in WASH (Water, Sustainability & Hygiene) category at the FKCCI India CSR & Sustainability Awards 2025.
- Environment Protection Category Award at the 24th Global Greentech Environment & Sustainability Summit 2025.
- Mahatma HR Excellence Award from the Mahatma Foundation.
- Karnataka Best Employer Brand Award 2025, endorsed by CHRO Asia.
- Eleven awards, including three golds, at the 15th PRCI Excellence Awards 2025.
These awards highlight MRPL’s commitment to responsible growth, environmental stewardship, and excellence in employee engagement.
Outlook: Sustained Growth with Strategic Focus
MRPL’s strong comeback in FY26 underscores its operational adaptability, technological capabilities, and prudent management. With refining margins improving and new crude sources integrated successfully, the company is poised for sustainable growth in the coming quarters.
The management emphasized its continued focus on refinery optimization, environmental sustainability, and diversification of product and crude portfolios. The successful processing of new crude varieties and record dispatch achievements position MRPL as a key contributor to India’s energy security and industrial progress.
(India CSR)
