Mangalore Refinery and Petrochemicals LimitedQ1 FY27 Results & Financial Update
Mangalore Refinery and Petrochemicals Limited: Q1 FY27 consolidated results and company financials – PAT ₹3,086.00 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Mangalore Refinery and Petrochemicals Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Mangalore Refinery and Petrochemicals Limited reported its financial and operational results for the first quarter of fiscal year 2027, demonstrating a material turnaround in profitability compared to the corresponding period of the previous year.
Standalone revenue from operations reached ₹41,608.96 crore for the quarter ended June 30, 2026, marking a substantial increase from ₹20,988.53 crore reported in Q1 FY26.
Operational performance reflected higher throughput, with total crude and other feedstock throughput rising to 4.43 MMT in Q1 FY27 compared to 3.52 MMT in Q1 FY26.
The quarter's financial performance was augmented by an exceptional item of ₹471.76 crore, representing net additional income recognized from the revision of certain petroleum product prices on supplies made in previous periods.
The company benefited from a structural reduction in its tax obligations, deciding to exercise the option for a lower tax rate under Section 200 of the Income Tax Act, 2025, from FY27 onwards, which lowered its effective tax rate to 25.168%.
Profit after tax was ₹3,086.00 Cr for the reported quarter. EPS was ₹10.00 for the reported quarter.
01 · Business model
What does Mangalore Refinery and Petrochemicals do?
Mangalore Refinery and Petrochemicals Limited operates as a public sector oil refining and marketing company, functioning as a subsidiary of Oil and Natural Gas Corporation (ONGC) and holding a Schedule 'A' Mini Ratna Category I enterprise status.
The company's primary economic engine is its downstream petroleum operations centered around crude oil processing and the manufacturing of a broad spectrum of petroleum products, which it distributes across domestic and export channels.
MRPL derives its revenue from the processing of crude oil and other feedstocks into finished petroleum products such as high-speed diesel, motor spirit, aviation turbine fuel, and petrochemical derivatives, serving both bulk industrial consumers and retail fuel networks.
02 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Profit after tax | ₹3,086.00 Cr |
| EPS | ₹10.00 |
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Crude and other feedstock throughput increased to 4.43 MMT during Q1 FY27, up from 3.52 MMT in Q1 FY26, supporting top-line expansion.
Standalone export sales contributed ₹5,012 crore to revenue during Q1 FY27, compared to ₹4,767 crore in Q1 FY26.
What drove margins
Cost of materials consumed stood at ₹35,242.00 crore for Q1 FY27, reflecting the scale of crude processing compared to ₹15,175.42 crore in Q1 FY26.
The adoption of the lower tax rate under Section 200 of the Income Tax Act reduced the effective tax rate to 25.168% from 34.944%, supporting net earnings.
04 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company operates entirely within a single business segment, specifically the downstream petroleum sector.
Geography and market mix
Export operations brought in ₹5,012 crore out of the total standalone revenue from operations of ₹41,608.96 crore during the quarter.
05 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
The company processed a total throughput (crude and others) of 4.43 Million Metric Tonnes (MMT) in Q1 FY27, compared to 4.35 MMT in Q4 FY26 and 3.52 MMT in Q1 FY26.
06 · Strategy & new businesses
How the company is trying to change its growth mix
MRPL advanced its sustainable aviation fuel (SAF) initiative by obtaining certification under the ISCC CORSIA framework on April 24, 2026, for the co-processing of Used Cooking Oil (UCO).
07 · Reported developments
What changed operationally
MRPL received PNGRB authorization for an ATF pipeline from Devangonthi Terminal to Kempegowda International Airport, Bengaluru, and commenced product loading at the Aegis Terminal in Mangaluru, Hindupur depot in Andhra Pradesh, and Ennore terminal in Tamil Nadu.
The company executed lease agreements for tankages at Jawaharlal Nehru Port Authority (JNPA) in Navi Mumbai, as well as Kakinada and Krishnapatnam in Andhra Pradesh.
08 · Pressure points & risks
What is not going smoothly
Due to the completion of tenure of independent directors on March 27, 2026, the company lacked the requisite number of independent directors during the quarter, resulting in audit committee functions being temporarily carried out directly by the Board of Directors.
09 · Items worth noticing
The line items that can distort a quick read
An exceptional net income of ₹471.76 crore was recognized during Q1 FY27 due to the revision of certain petroleum product prices on supplies made in previous periods.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Total borrowings stood at ₹11,562.56 crore as of June 30, 2026, down from ₹14,333.69 crore as of March 31, 2026, leading to an improved debt-equity ratio of 0.77 times.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Internal auditor and cost auditor appointments
Shri Sanjib Kumar Mandal was appointed as Internal Auditor effective July 15, 2026, and M/s Bandyopadhyaya Bhaumik & Co. was appointed as Cost Auditor for FY26-27.
12 · Previous-quarter changes
What changed since the previous quarter
Standalone net profit after tax recovered to ₹914.82 crore in Q1 FY27 from ₹119.36 crore in Q4 FY26.
13 · Key Q&A
The quarter, answered directly
What does Mangalore Refinery and Petrochemicals do?
Mangalore Refinery and Petrochemicals Limited operates as a public sector oil refining and marketing company, functioning as a subsidiary of Oil and Natural Gas Corporation (ONGC) and holding a Schedule 'A' Mini Ratna Category I enterprise status.
What is the clearest takeaway from Q1 FY27?
Mangalore Refinery and Petrochemicals Limited reported its financial and operational results for the first quarter of fiscal year 2027, demonstrating a material turnaround in profitability compared to the corresponding period of the previous year.
What drove revenue or demand?
Crude and other feedstock throughput increased to 4.43 MMT during Q1 FY27, up from 3.52 MMT in Q1 FY26, supporting top-line expansion.
What mattered most for margins or profitability?
Cost of materials consumed stood at ₹35,242.00 crore for Q1 FY27, reflecting the scale of crude processing compared to ₹15,175.42 crore in Q1 FY26.
What changed operationally beyond the headline numbers?
The company processed a total throughput (crude and others) of 4.43 Million Metric Tonnes (MMT) in Q1 FY27, compared to 4.35 MMT in Q4 FY26 and 3.52 MMT in Q1 FY26.
What are the main pressure points disclosed for the quarter?
Due to the completion of tenure of independent directors on March 27, 2026, the company lacked the requisite number of independent directors during the quarter, resulting in audit committee functions being temporarily carried out directly by the Board of Directors.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Independent directors appointment: Monitor the appointment of requisite independent directors to regularize board committee composition.
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