Mangalore Refinery & Petroleum Limited has declared force majeure on its gasoline exports for the months of March and April. This announcement signals operational challenges that have prevented the refinery from fulfilling its scheduled export commitments.

Force Majeure Declaration Details

The company's force majeure declaration specifically covers gasoline exports during the two-month period. Force majeure is a legal provision that allows companies to suspend contractual obligations when extraordinary circumstances beyond their reasonable control make performance impossible or impracticable.

Operational Impact

The force majeure declaration indicates that MRPL is facing circumstances that have disrupted its normal gasoline export operations. Such declarations are typically made when companies encounter situations that prevent them from meeting their contractual delivery obligations to international buyers.

This development may affect the company's export revenue and could impact its relationships with international customers who were expecting gasoline deliveries during the specified months. The refinery's domestic operations and other product exports have not been mentioned in relation to this announcement.

Mangalore refinery & petroleum has announced significant corporate developments following its board meeting held on March 03, 2026. The company, a subsidiary of Oil and Natural Gas Corporation Limited, has declared an interim dividend and recommended a new secretarial auditor appointment for shareholder approval.

Interim Dividend Declaration

The board has approved an interim dividend for the Financial Year 2025-26, providing attractive returns to shareholders. The dividend details are structured as follows:

The record date of March 11, 2026, has been fixed pursuant to Regulation 42 of SEBI (LODR) to determine shareholder eligibility for the interim dividend payment. Only shareholders holding shares on the record date will be entitled to receive the dividend.

Secretarial Auditor Appointment

The board has recommended the appointment of M/s Kumar Naresh Sinha & Associates, Practicing Company Secretary, as the company's secretarial auditor. This appointment requires shareholder approval at the ensuing Annual General Meeting.

Professional Background

Shri Naresh Kumar Sinha brings extensive experience to the role, with ten years of practicing as a Company Secretary. His professional background includes serving as ED & Company Secretary of ONGC Limited, a Maharatna PSU. He possesses over 40 years of comprehensive experience as a Company Secretary across PSUs and private sector companies, including his tenure as Company Secretary and Head Legal of BHEL. Currently, he serves as secretarial auditor for various listed and unlisted companies, including large PSUs.

Board Meeting Details

The board meeting was conducted on March 03, 2026, commencing at 16:00 hrs and concluding at 17:40 hrs. The decisions were made pursuant to Regulation 30 and Regulation 51 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015. The company has communicated these developments to both BSE Limited and National Stock Exchange of India Limited as per regulatory requirements.