Mangalore Refinery and Petrochemicals

“Restoration is targeted by mid-Decemberthis year, and we expect Q3 throughput to be close to Q2 levels.”

“Yes, there is one specific case which | did mention, the Devanagonthi to Bengaluru Airport pipeline. That will be a major project coming up.”

“Once grid power is fully available, which is expected by the financial year end, we will see a significant improvement.”

“Moving on, our retail network has 257 retail outlets across Karnataka, Kerala, Tamil Nadu and, lately, Andhra Pradesh.”

“Q2 has seen very high sales of retail products, primarily because of the curtailment of retail operations by the private OMCs. We are seeing a year-on-year growth of almost 50% from the last quarter.”

“Our direct marketing growth has also been significant, and we see a year-on-year growth of almost 30% to 40% in direct marketing of petroleum products.”

“Compared to last year, we have grown significantly, by nearly 100% in this space, and we are touching 10 TMT per month in the solvents segment.”

“We are seeing total sales of almost 40 TMT, as opposed to 20 TMT in quarter one.”

“we also believe that serving the market will result in some stickiness in the customer base, and that some of this growth will stay with us even when the situation normalises.”

“Based on the current systemic arrangements, we see movement in SAED that is more in line with the international market, but the net cracks available are more or less around $20 above the average landed cost.”

“Domestic demand continues to be strong, and therefore we are trying to divert all our molecules into the domestic market.”

“While this is not a structural change — it has to do with the fact that some of the private OMCs have curtailed sales due to lower margins”

“In the direct marketing space, again, the space has been vacated largely by the private OMCs and, to some extent, by the public sector OMCs.”

“The fuel and loss stood at 9.86% for H1, compared to around 11% reported earlier.”

“In Q2, domestic crude made up about a quarter of our intake, term contracts about a fifth, and spot purchases the balance, drawn mainly from West Africa, the Americas, the Middle East and Russia.”

“Russian barrels made up about 32% of our Q2 basket, against approximately 28% in Q1. Every cargo is procured on commercial terms, decided on delivered economics.”

“The half-yearly retail margin continued to be marginally negative.”

“Freight has gone up to anywhere between $7 and $10 in extreme cases; the average would be $7 to $8, sometimes $9 also.”

“Borrowings fell by over 35,000 crore in six months, reaching %9,245 crore at the end of September. This is, of course, variable and depends on working capital requirements.”

“The debt-equity ratio has correspondingly improved from 1.01 as reported at the end of March 2026 to 0.55 at the end of September 2026.”

“Fitch International has assigned a rating of BBB- (Stable), which is at par with the sovereign rating and comparable with its peer companies and OMCs.”

“there was the formation ofa JV company, OPML, that is, ONGC Petrochemicals Marketing Limited, with a 50% stake held by ONGC, 25% by OPal and 25% by MRPL.”

“It is expected to enhance the petrochemical business and operational planning, and reduce costs through improved logistics, warehousing, grade optimisation and customer management.”

“Considering the positive performance for H1 ofthis year, the Board has declared an interim dividend of 33 per share, which works out to a total dividend of 3526 crore.”

“There was a long-pending tax case, and we have been able to close that long-pending reformate classification dispute. We have received a refund of %212 crore.”

“We have booked a provisional loss of 3118.76 crore in Q2 as an exceptional item”

“These are, of course, preliminary estimates. The assets are adequately insured.”

“estimated replacement value of about 225 crore. These are, of course, preliminary estimates.”

“This has resulted in a squeezing of assured supplies from the Middle East, longer voyage times and a steep increase in freight and insurance costs.”

“On the flip side, there was a fire incident on 30th September 2026 at around noon at our Coker Hydrotreater Unit (CHTU). The incident is under active investigation and reconstruction of the unit has commenced.”

“In the current quarter we have a slight constraint in the product mix, but once the CHT is completely brought online, we will retain the full flexibility that was available earlier.”

“our Q3 total throughput is not likely to change significantly, but our product mix is slightly impacted, because that particular unit was designed to process heavier crudes.”

“If | had to put a number to it, the impact on total production could be less than a couple of percentage points of the distillates.”

“The standalone net profit was %1,881 crore on an EBITDA base of %3,210 crore.”

“For the half year, the net profit is %2,796 crore against 2367 crore for the corresponding H1 of the previous year.”

“The company has won two National Innovation Awards at the recently concluded 29th Energy Technology and Innovation Meet, that is, ETM 2026, held at Goa.”

“MRPL continues to follow a nation-first approach, which was evident from MRPL's ramping up of LPG supplies by cutting down on polypropylene during H1.”

“We continue to follow a balanced portfolio approach of debt reduction, modest capex and shareholder returns. Based on current market conditions and performance trends, the company is expected to continue to maintain a strong balance sheet in the current year.”