MRPL ONGC Nominee Director ceases on superannuation

0 min read     Updated on 02 Jul 2026, 05:26 AM
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Shri. Pankaj Kumar ceased to be the ONGC Nominee Director on the Board of Mangalore Refinery and Petrochemicals Limited effective July 1, 2026, due to superannuation. The company disclosed the change to stock exchanges under Regulation 30 of the SEBI Listing Obligations Regulations, 2015.

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Shri. Pankaj Kumar has ceased to be the ONGC Nominee Director on the Board of Mangalore Refinery and Petrochemicals Limited effective July 1, 2026, due to superannuation. The company communicated this change to the stock exchanges pursuant to Regulation 30 read with Part "A" of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Composition Change

The vacancy arose specifically on account of the director reaching superannuation age. Mangalore Refinery and Petrochemicals Limited has requested the exchanges to take the change on record.

Name Designation Event Effective Date
Shri. Pankaj Kumar ONGC Nominee Director Cessation on account of superannuation 01.07.2026

The filing was submitted by Premachandra Rao G, Company Secretary, on July 1, 2026.

Historical Stock Returns for Mangalore Refinery & Petroleum

1 Day5 Days1 Month6 Months1 Year5 Years
+1.18%+1.05%-1.23%+4.95%+3.35%+209.58%

Who will ONGC nominate to replace Shri. Pankaj Kumar on the board?

How will this leadership change impact MRPL's strategic direction?

What is the timeline for appointing the new nominee director?

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ONGC holds 88.58% stake in MRPL as on March 31, 2026

0 min read     Updated on 06 Jun 2026, 09:51 AM
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Oil and Natural Gas Corporation Limited and its subsidiary Hindustan Petroleum Corporation Ltd. collectively hold 88.58% of the paid-up share capital in Mangalore Refinery and Petrochemicals Ltd as on March 31, 2026. ONGC directly holds 71.63%, while HPCL holds 16.96%. There were no encumbrances on these shares during the financial year ended March 31, 2026.

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Oil and Natural Gas Corporation Limited and its subsidiary Hindustan Petroleum Corporation Ltd. collectively hold 88.58% of the paid-up share capital in Mangalore Refinery and Petrochemicals Ltd as on March 31, 2026. This disclosure was made under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

ONGC, the promoter of Mangalore Refinery and Petrochemicals Ltd, holds 125,53,54,097 equity shares, which represents 71.63% of the paid-up share capital. Hindustan Petroleum Corporation Ltd., a subsidiary of ONGC, holds 29,71,53,518 equity shares, equivalent to 16.96% of the paid-up share capital. The cumulative holding of both entities in Mangalore Refinery and Petrochemicals Ltd totals 1,55,25,07,615 equity shares.

The filing confirmed that there were no encumbrances, directly or indirectly, on the equity shares held by ONGC and HPCL during the financial year ended March 31, 2026.

Shareholding Pattern

Shareholder Equity Shares Held Percentage of Paid-up Share Capital
ONGC 125,53,54,097 71.63%
HPCL 29,71,53,518 16.96%
Total 1,55,25,07,615 88.58%

Historical Stock Returns for Mangalore Refinery & Petroleum

1 Day5 Days1 Month6 Months1 Year5 Years
+1.18%+1.05%-1.23%+4.95%+3.35%+209.58%

Does this high promoter concentration indicate a potential delisting offer for minority shareholders in the future?

How will this ownership structure impact MRPL's strategic autonomy regarding mergers or acquisitions?

Could ONGC leverage this dominant position to consolidate downstream assets with HPCL more aggressively?

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