Established in: 1988
Managing Director: Mundkur Shyamprasad Kamath
Mangalore Refinery and Petrochemicals Limited (MRPL) is a Schedule ‘A’ Miniratna Central Public sector enterprise under the Ministry of Petroleum and Natural Gas. The company is headquartered in Mangaluru, Karnataka and is a majority subsidiary of the Oil and Natural Gas Corporation (ONGC). Mangalore Refinery and Petrochemicals Limited manages a technologically advanced 15 MMTPA refinery that processes various types of global crudes.
The company launched its IPO and went public in 1993. The company is now listed on the National Stock Exchange and Bombay Stock Exchange under the ticker symbol MRPL.
History of Mangalore Refinery and Petrochemicals Limited
Mangalore Refinery and Petrochemicals Limited was incorporated in 1988 and was initially established as a joint venture between Hindustan Petroleum Corporation Limited (HPCL) and Indian Rayon and Industries Limited (IRIL) of the A.V Birla Group. It was founded to set up a grassroots refinery to meet the energy demand of Southern India.
The company began its commercial operations in 1996 with a refinery capacity of 3.69 million metric tonnes per annum (MMTPA). The company is located in Katipalla, near Mangaluru in Karnataka and benefits from its proximity to major ports, logistics infrastructure and industrial clusters.
Business Segments of Mangalore Refinery and Petrochemicals Limited
The following are the business segments of Mangalore Refinery and Petrochemical Limited.
This is the core business operation of the company. It processes light to heavy and other types of crudes into High-speed diesel, Motor Spirit, Liquefied Petroleum Gas and Aviation Turbine Fuel (ATF).
- Petrochemicals and Aromatics
The company produces specialised raw materials such as Polypropylene, Paraxylene, and Benzene and supplies them to various industrial, automotive and manufacturing companies.
The company distributes petroleum products to consumers and commercial transport operators throught it retail outlet under the brand name of ‘HiQ’.
Future Plans of Mangalore Refinery and Petrochemicals Limited
The following are the plans of Mangalore Refinery and Petrochemicals Limited
- Petrochemical and Refinery Expansion
The company is investing significantly in increasing petrochemical production to prepare and hedge against the shift towards electric vehicles. It is upgrading the Crude Distillation Unit from 7.2 to 9.7 million metric tonnes per annum (MMTPA) and modernising fluid catalytic crackers for higher propylene yields.
To integrate and streamline their marketing operations, ONGC, MRPL, and OPaL are establishing a joint venture for petrochemical product marketing and trading, aiming to reduce costs and optimise logistics.
The company is rapidly expanding its retail presence and setting up more ‘HiQ’ brand fuel stations. It aims to have around 250 outlets and increase the number to 500 outlets in the next three years, reaching 1,000 retail locations in five years.
- Sustainability & Net-Zero Goals
The company is investing heavily in Green Hydrogen production and 2G Ethanol, committing to and targeting to achieve Net-Zero emissions by 2038. It is also establishing a seawater desalination plant and a petcoke-based Captive Power Plant (CFBC) to improve energy efficiency, avoid using water from the Netravati river and have reliable grid power.
MRPL Financial Highlights
- Revenue: MRPL reported revenue of ₹88,865.68 crore in FY26 vs ₹94,834.83 crore in FY25. It showed a decrease of 6.29% on a yearly basis.
- Operating Profit: MRPL reported an operating profit of ₹4,014.90 crore in FY26 vs ₹118.89 crore in FY25. It showed an increase of 3,276.99% on a year-on-year basis.
- Net Profit: MRPL reported a net profit of ₹1,924.58 crore in FY26 vs ₹56.21 crore in FY25. It showed an increase of 3,323.91% on a yearly basis.
MRPL Quarterly Result Highlights
- MRPL reported revenue of ₹38,325.08 crore in Jun 2026, compared with ₹24,008.89 crore in Mar 2026, representing an increase of 59.63% on a quarter-on-quarter (QoQ) basis.
- MRPL reported an operating profit of ₹1,245.67 crore in Jun 2026, compared with ₹1,233.13 crore in Mar 2026, representing an increase of 1.02% on a quarter-on-quarter (QoQ) basis.
- MRPL reported a profit of ₹945.68 crore in Jun 2026, compared with ₹116.99 crore in Mar 2026, reflecting an increase of 708.34% on a QoQ basis.
- The earnings per share (EPS) of MRPL stood at ₹10.98 during Jun 2026.
Data Source: BSE, Company announcements
Securities shown are illustrative, not recommendations. Past performance does not guarantee future results.
