MRPL Q2 Results: Can the Refiner Repeat Its Q1 FY27 Turnaround?

September 24, 2026
Posted by: Kunal Singla
Category: Market

MRPL Q1 FY27 consolidated revenue Rs 41,608.96 crore, consolidated PAT Rs 945.68 crore (vs a Rs 270.66 crore loss YoY). Q2 FY26 base: revenue Rs 25,953 crore, PAT Rs 638.67 crore.

Quick Answer

MRPL’s Q2 FY27 results date is not confirmed. Q1 FY27 (June 2026 quarter) consolidated net profit swung to Rs 945.68 crore from a Rs 270.66 crore loss a year earlier, on revenue of Rs 41,608.96 crore, though the quarter included a one-time exceptional gain of Rs 471.76 crore, and EBITDA fell 26.1% sequentially even as it rose sharply YoY. The Q2 FY27 print will be compared against a Q2 FY26 base of Rs 25,953 crore revenue and Rs 638.67 crore PAT.

The Mangalore Refinery and Petrochemicals Q2 results FY27 print is the next earnings event for this ONGC subsidiary and Mangaluru-based refiner, whose Q1 FY27 profit recovery came with an important asterisk attached.

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Table of Contents

When Is the Mangalore Refinery and Petrochemicals Q2 Results FY27 Date?

Not officially confirmed for the September 2026 quarter as of this writing. Q2 FY26 was reported October 15, 2025.

Mangalore Refinery and Petrochemicals Q2 Results Expectations

No verified consensus estimate is available. The key question for Q2 FY27 is whether operating performance can sustain without the one-time gain that boosted Q1 FY27’s headline profit, since EBITDA already declined 26.1% sequentially in Q1 FY27.

Mangalore Refinery and Petrochemicals Previous Quarter Performance (Q1 FY27)

Consolidated revenue Rs 41,608.96 crore (+46.12% YoY), consolidated PAT Rs 945.68 crore, PBT Rs 1,245.67 crore, EBITDA Rs 1,860 crore (nearly 8x YoY but down 26.1% sequentially). The quarter included a one-time exceptional gain of Rs 471.76 crore. Refinery throughput was 4.43 MMT (+25.85% YoY).

Mangalore Refinery and Petrochemicals Q2 FY26 Base Quarter

Revenue Rs 25,953 crore, PBT Rs 975 crore, PAT Rs 638.67 crore, EBITDA Rs 1,565 crore, throughput 4.43 MMT.

Mangalore Refinery and Petrochemicals Recent Quarterly Trend

Quarter	Revenue (Rs Cr)	PAT (Rs Cr)
Q1 FY26	20,988	-270.66
Q2 FY26	25,953	638.67
Q4 FY26	28,493	116.99
Q1 FY27	41,609	945.68

Key Factors That Could Shape Mangalore Refinery and Petrochemicals Q2 Results FY27

Gross Refining Margins, which swing with crude and product price spreads
The one-off Rs 471.76 crore exceptional gain in Q1 FY27, which will not repeat
Refinery throughput and utilisation, running near capacity at 4.43 MMT
Export revenue trends, which fell 30.9% QoQ in Q1 FY27
New PNGRB authorisation for an ATF pipeline to Kempegowda International Airport

Mangalore Refinery and Petrochemicals Q2 Results FY27: Valuation Going Into the Print

MRPL’s market capitalisation stood at roughly Rs 30,180 crore as of mid-July 2026, at a share price near Rs 172. As a state-linked refiner with earnings tied to volatile global refining margins and a one-time gain inflating the latest quarter’s trailing EPS, its P/E is not a stable reference point right now – investors typically look at EV/EBITDA or replacement-value metrics for refiners rather than trailing P/E in a quarter with exceptional items.

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What Investors Should Watch When Mangalore Refinery and Petrochemicals Q2 Results Are Announced

Whether EBITDA recovers from Q1 FY27’s sequential decline once the one-time gain washes out
Refining margin trends
Export revenue recovery

Conclusion on Mangalore Refinery and Petrochemicals Q2 Results FY27

MRPL’s Q2 FY27 print will be watched to see whether operating performance, not one-time gains, drives the next result, against a Q2 FY26 base of Rs 638.67 crore PAT.

Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).

FAQs on Mangalore Refinery and Petrochemicals Q2 Results FY27

What is the MRPL Q2 results date for FY27?

Ans. Not officially confirmed as of this writing; Q2 FY26 was reported October 15, 2025.

What were MRPL’s Q1 FY27 results?

Ans. Consolidated revenue of Rs 41,608.96 crore and consolidated PAT of Rs 945.68 crore, swinging from a loss a year earlier, aided by a Rs 471.76 crore one-time gain.

What was the Q2 FY26 base quarter for MRPL?

Ans. Revenue of Rs 25,953 crore and PAT of Rs 638.67 crore, itself a turnaround quarter.

Is MRPL a buy ahead of Q2 results?

Ans. This article offers no buy, sell or hold recommendation; consult a SEBI-registered advisor.

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MRPL Q2 FY27 results

Author: Kunal Singla

Kunal Singla is the Associate Director - Research at Univest, leading quantitative equity research, intraday trading setups, and derivatives strategy. With 4+ years of experience in Indian equity markets, he combines rigorous quantitative methods with classical technical analysis to build high-conviction research frameworks for retail and advisory clients. He holds an MSc from the Indian Institute of Technology (IIT) Delhi — one of India's most selective institutions — and has completed the Certificate in Quantitative Finance (CQF), a globally recognised programme covering derivatives pricing, risk modelling, machine learning for finance, and advanced portfolio theory. This combination places him in a small group of Indian analysts with both deep academic training in quantitative methods and SEBI-recognised research credentials. Kunal holds seven SEBI-recognised NISM certifications spanning research, derivatives, portfolio management, and securities operations: Series-XV (Research Analyst), Series-XXI-A (Portfolio Managers), Series-XVI (Commodity Derivatives), Series-VIII (Equity Derivatives), Series-VII (SORM), Series-V-A (Mutual Fund Distributors), and Series-I (Currency Derivatives). At Univest — India's SEBI-registered research and advisory platform — Kunal leads research inputs for Pro Lite, Pro Super, Pro Gold, and Pro Commodity advisory services, alongside publishing intraday stock picks on Univest Blogs.