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Mangalore Refinery and Petrochemicals (500109) investor relations material
Mangalore Refinery and Petrochemicals Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 operations remained strong despite an August planned shutdown and September Coker Hydrotreater fire; Q3 throughput is expected near Q2 levels.
Crude sourcing diversified amid West Asia disruptions, while strong domestic demand prioritized domestic product sales and LPG supply.
H1 net exceptional income of ₹353.00 crore comprised ₹471.76 crore of prior-period product-price revisions, less a provisional ₹118.76 crore fire loss.
Financial highlights
Q2 consolidated revenue was ₹35,590.40 crore vs ₹25,953.34 crore YoY; net profit was ₹1,900.76 crore vs ₹627.36 crore.
H1 consolidated revenue was ₹77,199.36 crore vs ₹46,941.87 crore; net profit was ₹2,846.44 crore vs ₹356.70 crore.
Q2 standalone net profit was ₹1,880.89 crore vs ₹638.67 crore; EBITDA was ₹3,210 crore. H1 standalone net profit was ₹2,795.71 crore vs ₹366.70 crore.
Q2 throughput was 4.18 MMT, compared with a prior quarterly peak of ~4.5 MMT.
Consolidated EPS was ₹10.85 in Q2 vs ₹3.58 YoY and ₹16.24 in H1 vs ₹2.04.
Outlook and guidance
Q3 throughput is expected near Q2 levels; Coker Hydrotreater restoration is targeted by mid-December, with product impact estimated below 2 percentage points.
FY 2026/27 CapEx is ₹1,200–1,500 crore, mainly for maintenance, revamping and retail projects; near-term CapEx is expected to remain modest.
Targeting ~500 retail outlets by FY 2028-end; the network currently has 257 outlets across Karnataka, Kerala, Tamil Nadu and Andhra Pradesh.
Fuel and loss is expected below 10%, with a prior target of ~9.5%; grid power availability by FY-end should improve the metric further.
Transactions with ONGC Petrochemicals Marketing Limited are expected to commence shortly.
- Phase II started commercial production amid heavy debt and continued refining-margin pressure.500109
Q4 00/01 - Strong first-year operations supported a major 3-to-9 MMTPA expansion amid cash-flow and deregulation risks.500109
Q4 96/97 - Higher throughput and expansion progress offset by lower profit and deregulation-driven margin pressure.500109
Q4 97/98 - 135% utilization, but low margins and heavy interest cut FY99 profit to Rs 14.06 crore.500109
Q4 98/99 - Crude-cost pressure drove a major loss as expansion commissioning faced delays.500109
Q4 99/00 - 9-MMTPA expansion lifted throughput, but debt costs and weak margins drove a Rs.492 crore loss.500109
Q4 01/02 - Record refining and profit erased accumulated losses and enabled a maiden dividend.500109
Q4 04/05 - Record throughput and lower debt costs drove a sharp FY04 turnaround.500109
Q4 03/04 - ONGC-backed restructuring and better crude sourcing reset the outlook despite continued losses.500109
Q4 02/03
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