MRPL reports sharp rise in FY 2025-26 profit; PAT jumps to ₹2,931 crore while refining margin doubles to US$9.22 per barrel
Mangaluru : Mangalore Refinery and Petrochemicals Limited (MRPL) conducted its 38th Annual General Meeting (AGM) on Monday, August 24, 2026, through video conferencing. During the meeting, shareholders approved the company’s audited financial statements for FY 2025-26, dividend declaration, director appointments and several other important resolutions.
The AGM began at 4:00 PM IST and concluded at 5:30 PM. A total of 67 members representing more than 155 crore shares participated in the meeting, fulfilling the required quorum.
The meeting was chaired by Shri Arun Kumar Singh, Chairman of MRPL, and was attended by Managing Director & CEO Shri Mundkur Shyamprasad Kamath, directors, auditors and the Scrutinizer.
Shareholders Approve FY 2025-26 Financial Statements
Shareholders approved the company’s audited standalone and consolidated financial statements for the year ended March 31, 2026, along with the Board’s Report, Auditor’s Report and comments of the Comptroller and Auditor General of India (CAG).
The AGM also approved the reappointment of Shri Arun Kumar Singh (DIN: 06646894), who retired by rotation.
In addition, shareholders approved the declaration of dividend for FY 2025-26 and authorised the Board to determine the remuneration of the statutory auditors for FY 2026-27.
MRPL Records Strong Financial Performance
MRPL delivered a significant improvement in profitability during FY 2025-26.
According to the highlights presented by the Chairman:
| Financial/Operational Parameter | FY 2025-26 |
|---|---|
| Revenue from Operations | ₹1,05,155 crore |
| Profit Before Tax | ₹4,022 crore |
| Profit After Tax | ₹2,931 crore |
| Gross Refining Margin | US$9.22/barrel |
| Crude Processed | 16.77 MMT |
| Capacity Utilisation | Around 112% |
| Distillate Yield | 81.94% |
The company’s Profit After Tax (PAT) increased sharply to ₹2,931 crore, compared with ₹251 crore in the previous year.
This represents a substantial improvement in the company’s bottom line during the financial year.
Refining Margin More Than Doubles
MRPL’s Gross Refining Margin (GRM) improved significantly to US$9.22 per barrel, compared with US$4.45 per barrel in the previous year.
The improvement in refining margins was an important contributor to the company’s stronger financial performance.
The refinery processed 16.77 million metric tonnes (MMT) of crude, operating at approximately 112% of its rated capacity.
The company also achieved a distillate yield of 81.94%, highlighting its refining efficiency.
Dividend Approved by Shareholders
MRPL shareholders approved the dividend for FY 2025-26.
The company had already paid an interim dividend of 40%, equivalent to ₹4 per equity share, and the same has been recommended as the final dividend.
The dividend resolution was approved as part of the ordinary business conducted at the AGM.
Important Director Appointments Approved
Shareholders also approved two important appointments under the special business agenda:
- Dr. Seema (DIN: 11780592) — Appointment as Director
- Shri Satyan Kumar (DIN: 10181958) — Appointment as Director
Both resolutions were passed with the requisite majority.
Secretarial Auditor Appointed for Five Years
Another important resolution approved by shareholders was the appointment of the Secretarial Auditor for a five-year period, covering:
FY 2026-27 to FY 2030-31.
The appointment is aimed at ensuring continued compliance with applicable corporate governance and regulatory requirements.
Related Party Transaction with Shell MRPL Aviation Fuels
Shareholders also approved material related-party transactions with Shell MRPL Aviation Fuels and Services Limited for FY 2027-28.
The resolution was included under the special business agenda and was passed with the required majority.
Memorandum and Articles of Association to be Updated
Shareholders further approved amendments to the company’s Object Clause and the adoption of the updated Memorandum of Association and Articles of Association in line with the provisions of the Companies Act, 2013.
All resolutions placed before shareholders were passed with the requisite majority.
Retail Network Expands to 252 Outlets
MRPL has also continued expanding its retail presence.
According to the Chairman’s address, the company’s retail network has increased to 252 outlets across Karnataka, Kerala, Tamil Nadu and Andhra Pradesh.
The expansion strengthens MRPL’s downstream presence and allows the company to increase its direct retail reach in key southern markets.
Focus on Green Energy and Sustainability
Sustainability remains another important area of MRPL’s long-term strategy.
The company is pursuing a target of achieving Net Zero Scope-1 and Scope-2 emissions by 2038.
MRPL is also implementing projects related to:
- Sustainable Aviation Fuel (SAF)
- Green Hydrogen
- Energy efficiency
- Decarbonisation
- Cleaner fuel and refining technologies
These initiatives are expected to support MRPL’s transition towards a lower-carbon energy business.
AGM Resolutions at a Glance
Ordinary Business
- Adoption of audited standalone financial statements for FY 2025-26.
- Adoption of audited consolidated financial statements.
- Consideration of Board’s Report, Auditor’s Report and CAG comments.
- Reappointment of Shri Arun Kumar Singh as Director.
- Declaration of dividend for FY 2025-26.
- Authorisation to the Board to determine statutory auditors’ remuneration for FY 2026-27.
Special Business
- Appointment of Dr. Seema as Director.
- Appointment of Shri Satyan Kumar as Director.
- Appointment of Secretarial Auditor for five years.
- Approval of material related-party transactions with Shell MRPL Aviation Fuels and Services Limited for FY 2027-28.
- Amendment of the Object Clause.
- Adoption of amended Memorandum and Articles of Association.
MRPL’s FY 2025-26 Performance: Key Takeaways
MRPL’s latest AGM highlights a strong turnaround in its financial performance, supported by higher refining margins and strong refinery utilisation.
Key figures include:
- ₹1.05 lakh crore revenue from operations
- ₹4,022 crore profit before tax
- ₹2,931 crore profit after tax
- US$9.22/barrel gross refining margin
- 16.77 MMT crude processed
- 112% approximate capacity utilisation
- 81.94% distillate yield
- 252 retail outlets
- ₹4 per share interim dividend already paid
The company is simultaneously pursuing downstream expansion and sustainability initiatives, including Sustainable Aviation Fuel and Green Hydrogen projects, while targeting Net Zero Scope-1 and Scope-2 emissions by 2038.
The voting results and Scrutinizer’s Report are expected to be submitted to the stock exchanges and made available on the company’s website.
