Mangalore Refinery & Petroleum Limited has officially clarified that it has not declared any force majeure on fuel exports, contradicting earlier media reports. The company issued a formal clarification to stock exchanges following inquiries from BSE Surveillance team regarding news reports claiming the refinery had halted fuel exports due to Iran conflict disrupting crude flows.

Official Clarification to Stock Exchanges

In response to BSE's inquiry, MRPL categorically denied declaring any force majeure on its operations. The company stated it was unaware of the mentioned news item and its source, emphasizing that the reports published were factually incorrect.

Regulatory Response Details

The company provided detailed responses to BSE's specific queries regarding the market rumors. MRPL confirmed that no negotiations were taking place related to the reported issues and stated it was not aware of any undisclosed information that could explain unusual trading movements.

Market Impact and Clarification

The formal denial comes after media reports suggested operational disruptions affecting the refinery's export capabilities. Company Secretary Premachandra Rao G signed the official clarification, which was digitally submitted to both BSE and NSE to set the record straight on the company's operational status.

This clarification aims to address any market confusion caused by the incorrect reports and reaffirms that MRPL's operations continue without the force majeure conditions previously reported in media outlets.

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.