MRPL drops after Q2 results, investors assess refinery fire impact
During Q2 FY27, the company reported a fire at the Coker Hydrotreater (CHT) unit in Phase III of its refinery complex. The company provisionally estimated the financial impact at Rs 118.76 crore, comprising the estimated carrying value of damaged property, plant and equipment, corresponding to an estimated replacement value of approximately Rs 225 crore, and losses relating to inventories and other incidental expenses. The provisionally assessed loss was presented as an exceptional item in the financial results for the quarter ended 30 September 2026. The company said the affected assets were adequately insured.
Exceptional items for H1 FY27 also included additional income, net of expenses, of Rs 471.76 crore following a revision of certain petroleum product prices relating to supplies made in an earlier period. After accounting for the provisionally assessed fire-related loss of Rs 118.76 crore, the company reported net exceptional income of Rs 353 crore for the half year.
Revenue from operations increased 43.57% YoY to Rs 32,516.24 crore. However, it declined 15% QoQ from Rs 38,254.19 crore.
Profit before tax stood at Rs 2,538.80 crore in Q2 FY27, up 103.81% vs previous quarter and 163.54% vs year-ago quarter.
Total expenditure increased 37.68% YoY to Rs 29,644.21 crore. Raw material consumed rose 41.64% to Rs 29,109.27 crore. Employee expenses increased 3.03% to Rs 179.07 crore, while interest costs rose 29.48% to Rs 283.85 crore. Depreciation increased 9.68% to Rs 406.89 crore.
Throughput declined 5.64% YoY to 4.18 MMT in Q2 FY27 from 4.43 MMT in Q2 FY26. H1 FY27 throughput increased 8.30% YoY to 8.61 MMT from 7.95 MMT in H1 FY26.
The company reported net cash generated from operating activities of Rs 6,008.98 crore in H1 FY27, up 38.8% from Rs 4,328.24 crore in H1 FY26.
The board announced an interim dividend of Rs 3 on fully paid-up equity shares of Rs 10 each for the financial year 2026-27.
MRPL is engaged in the business of refining of crude oil and marketing of related products. The company is a subsidiary of Oil and Natural Gas Corporation which holds 71.63% equity shares.
The stock also witnessed profit-booking after rising 7.63% over the past three sessions. It has gained 9.77% over the past three months and 21.90% over the past year.
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