Mangalore Refinery and Petrochemicals Limited (MRPL), a
New Delhi, April 25: Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of Oil and Natural Gas Corporation (ONGC), reported a sharp improvement in profitability for FY26, even as revenue moderated. The company’s board approved its standalone and consolidated results for Q4 and the full year ended March 31, 2026, at its meeting on April 24.
For Q4 FY26, revenue from operations rose to ₹28,493 crore from ₹27,602 crore a year earlier. Profit before tax more than doubled to ₹1,235 crore, compared to ₹584 crore in Q4 FY25. However, net profit declined to ₹119 crore from ₹363 crore, reflecting margin pressures and cost dynamics.
On a full-year basis, MRPL posted a strong earnings rebound. Revenue stood at ₹1,05,155 crore, slightly lower than ₹1,09,280 crore in FY25. Profit before tax surged to ₹4,022 crore from ₹113 crore, while net profit jumped significantly to ₹1,931 crore from ₹51 crore in the previous year, supported by improved refining margins.
Operationally, throughput during FY26 stood at 17.0 million metric tonnes, compared to 18.18 MMT in FY25. The company also strengthened its downstream presence, commissioning 85 new retail outlets during the year, taking the total network to 252, while its Devangonthi marketing terminal became fully operational to enhance inland distribution.
Earnings before interest, depreciation, tax and amortisation (EBITDA) rose to ₹6,449 crore for FY26 from ₹2,469 crore in FY25, highlighting improved operational efficiency. Gross Refining Margin (GRM) for the year increased to $9.22 per barrel from $4.45 per barrel.
On a consolidated basis, profit after tax attributable to owners stood at ₹1,925 crore for FY26, compared to ₹56 crore in FY25, indicating a broad-based recovery across operations.
MRPL also received industry recognition during the year, winning the “Innovator of the Year (2025)” award at India Energy Week for advancements in refining innovation and indigenous technology development.
