Mangalore Refinery and Petrochemicals Limited (MRPL) reported a sharp improvement in financial performance for FY 2025-26, with standalone Profit After Tax rising to ₹1,931 crore from ₹51 crore in FY 2024-25. The recovery was driven by a significant rebound in Gross Refining Margin (GRM), stronger product cracks, and a favourable crude basket, even as the company navigated a planned Phase-II refinery shutdown and volatile global energy markets.

Financial Performance

The company's standalone financial results for the year ended March 31, 2026 reflect a substantial year-on-year improvement across key profitability metrics. Revenue from Operations moderated slightly to ₹1,05,155 crore from ₹1,09,280 crore in FY 2024-25, while Profit Before Tax surged to ₹4,022 crore from ₹113 crore. The Board declared an interim dividend of ₹4 per equity share (40%), involving a total payout of ₹701.04 crore, which was subsequently confirmed as the final dividend for FY 2025-26.

On a consolidated basis, Profit Before Tax stood at ₹4,014.90 crore for the year ended March 31, 2026, compared to ₹118.89 crore in the prior year. Total Comprehensive Income on a consolidated basis was ₹1,926.58 crore versus ₹36.35 crore.

Operational Highlights

Despite the planned shutdown of the Phase-II Refinery Complex during April–May 2025, the refinery processed 16.774 MMT of crude oil and achieved a capacity utilisation of 111.8%, with a distillate yield of 81.94%. Several production records were set during the year:

• Highest-ever HSD production of 6.78 MMT (previous best: 6.68 MMT in FY 2024-25)
• Highest-ever Xylol production of 34.3 TMT (previous best: 23.91 TMT)
• Highest-ever Toluene production of 4.4 TMT (previous best: 0.78 TMT)
• Highest-ever MTO production of 21 TMT (previous best: 5.9 TMT)
• Highest-ever quarterly crude throughput of 4.56 MMT in Q3 FY 2025-26
• Highest-ever product export of 723.2 TMT in September 2025
• Highest-ever VLCC handled: 13 nos. during FY 2025-26 (previous best: 9 nos.)

MRPL's crude basket comprises 273 different grades sourced from multiple regions globally. Four new crude varieties were processed during the year: HOUT from the Neutral Zone (API ~32.5), Sarir Mesla from Libya (API ~37.24), Gindungo from Angola (API ~32.71), and Mostarda from Angola (API ~28.30).

Marketing and Retail Expansion

MRPL commissioned 85 new HiQ retail outlets during FY 2025-26, taking the total number of operational outlets to 252. The company entered Andhra Pradesh for the first time, expanding its retail footprint across Karnataka, Kerala, Tamil Nadu, and Andhra Pradesh. Combined Motor Spirit and High-Speed Diesel sales through the retail network reached 343.9 million litres during the year. All Motor Spirit sold through MRPL retail outlets complied with the E20 mandate, achieving ethanol blending of 19.76%.

The Devangonthi Marketing Terminal near Bengaluru became fully operational during the year, strengthening logistics capabilities for inland markets. The company also commissioned 76 EV charging stations across its HiQ retail outlets.

Joint venture Shell MRPL Aviation Fuel and Services Limited (SMAFSL) achieved a turnover of ₹2,706 crore during FY 2025-26, representing a growth of 6.15% over the previous year's turnover.

Key Financial Ratios

Sustainability and ESG Initiatives

MRPL has established a Net Zero target for Scope 1 and Scope 2 emissions by 2038. During FY 2025-26, the company achieved a reduction of 9.63% in Scope 1 and Scope 2 emission intensity and an absolute reduction of 11.44% compared to the FY 2022-23 baseline. Total fuel savings of 43,436 MTOE were achieved through energy efficiency improvement measures. Renewable energy generated by MRPL during the year was 34,640 GJ, while renewable energy consumed was 7,56,248 GJ.

The company is progressing key clean energy projects:

R&D and Innovation

MRPL's Innovation Center continued to advance R&D across AI/ML, Active Pharmaceutical Ingredients, plastic circularity, and crude-to-chemicals. R&D expenditure rose to ₹4,672.57 lakhs in FY 2025-26 from ₹4,018 lakhs in FY 2024-25, an increase of 16.29%. The company holds 42 patents filed, including 13 granted patents and one United States patent. The indigenously developed Gradual Olefins and Aromatics Technology (GOAT) was awarded the Best Innovation Award in R&D for the fourth consecutive year by the Ministry of Petroleum and Natural Gas.

CSR and Corporate Governance

The CSR budget for FY 2025-26 was ₹65.42 crore, with total expenditure of ₹48.67 crore across education, healthcare, sanitation, environmental sustainability, and community empowerment initiatives under the "Samrakshan" programme. MRPL achieved 51% procurement (₹1,120 crore) from Micro and Small Enterprises against a target of 25%, and procurement from women-owned MSEs reached 5.6% (₹122.4 crore), surpassing the 3% target.

The company received numerous recognitions during the year, including the FIPI Innovator of the Year (Team) Award 2025, the 24th Global Greentech Environment and Sustainability Award 2025, the Mahatma Award for HR Excellence, and 11 awards at the PRCI Excellence Awards 2025. MRPL's total employee strength as on March 31, 2026 stood at 2,450, comprising 2,231 male and 219 female employees.

Mangalore Refinery and Petrochemicals Limited will conduct its 38th Annual General Meeting on August 24, 2026, at 4:00 PM IST through video conferencing and other audio-visual means. The meeting allows shareholders to vote on key resolutions remotely, with eligibility determined by the record date of August 17, 2026. This date establishes the register of members entitled to receive the notice and participate in the voting process.

The remote e-voting period commences on August 21, 2026, at 9:00 AM and concludes on August 23, 2026, at 5:00 PM IST. Shareholders who are members as of the cut-off date can obtain their login ID and password by sending an email request to evoting@nsdl.com . The e-voting module will be disabled by NSDL after the closing time, ensuring no further votes can be cast.

The notice of the 38th AGM and the Annual Report will be sent via email to members listed on the register as of July 17, 2026. A public notice detailing these schedules is also being published in newspapers to inform all stakeholders. The filing was made in compliance with Regulation 30 and 50 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Premachandra Rao Gurpur, Company Secretary, signed the intimation on behalf of Mangalore Refinery and Petrochemicals Limited . The communication was addressed to the stock exchanges, including BSE Limited and National Stock Exchange of India Limited, to ensure the information is placed on record.

Key AGM Dates