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Mangalore Refinery & Petroleum
SectorEnergy
Mangalore Refinery and Petrochemicals Limited (MRPL) is a Schedule A Miniratna Central Public Sector Enterprise under the Ministry of Petroleum & Natural Gas, Government of India. It is a subsidiary of Oil and Natural Gas Corporation Limited (ONGC), which holds 71.63% equity. MRPL operates a 15 million metric tonne refinery in Mangaluru, Karnataka, engaged in crude oil refining. The company produces a range of petroleum products including Naphtha, LPG, Motor Spirit, Diesel, Kerosene, Aviation Fuel, Sulphur, Xylene, Bitumen, Pet Coke, and Polypropylene. MRPL also owns and operates ONGC Mangalore Petrochemicals Limited (OMPL), a petrochemical unit producing Para Xylene and Benzene. The company has a joint venture with Shell Gas B.V. called Shell MRPL Aviation Fuels and Services Limited, which markets aviation turbine fuel. MRPL has expanded its operations over the years, including increasing refining capacity, commissioning new units, and entering the retail fuel market with company-owned and dealer-operated outlets.
In the news
MRPL Q2 profit surges 106% to ₹1,881 crore, declares ₹3 interim dividend
ONGC's Petrochemicals Gamble: The OPML Story
MRPL-ONGC JV Incorporated: ₹50 Crore Petrochemicals Marketing Firm
MRPL Q1 Results: ₹945 crore profit surge, Choice targets ₹215
ICICI Lombard shares crash 10% to 52-week low after Q1 profit drops 46%
OMCs Consider RTP Freeze to Curb Fuel Losses, Hit Refiners
Oil firms consider refinery price freeze as crude hits $110/barrel
MRPL Clarifies Operations Uninterrupted Amid Iran Conflict
Company insights, generated from the most recent coverage.
MRPL is the most exposed listed refiner to the export levy — it pays SAED on exports and has no large marketing business to absorb the hit, unlike integrated PSUs. Diesel relief from Rs 16 to Rs 8.5/litre is proportionally the biggest earnings swing in the group.
Marketing network build-out is turning MRPL from a pure refinery into a partial downstream player — storage tie-ups in Goa and Kochi plus loading at Aegis, Hindupur and Ennore reduce dependence on third-party logistics.
Management flagged on the Q3 FY26 call that refining margins were very high and unlikely to be sustained — a rare self-declared peak signal from a PSU refiner that caps upside multiple expansion.