{"id":77931,"date":"2026-04-27T15:40:21","date_gmt":"2026-04-27T10:10:21","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=77931"},"modified":"2026-04-27T15:40:23","modified_gmt":"2026-04-27T10:10:23","slug":"mrpl-q4-fy26-results-pat-117-crore","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/","title":{"rendered":"MRPL Q4 FY26 Results: PAT \u20b9116.99 Crore, Refinery Navigates West Asia Conflict Headwinds"},"content":{"rendered":"<p>Mangalore Refinery and Petrochemicals Limited (MRPL) Q4 FY26 results show consolidated PAT of \u20b9116.99 crore, compressed by the West Asia conflict that drove crude oil price volatility and refinery margin pressure during January-March 2026. MRPL Q4 is a subsidiary of ONGC and operates a 15 MMTPA refinery at Mangalore, Karnataka.<\/p><p>MRPL Q4 gross refining margin (GRM), the primary profitability metric for refineries, was compressed as crude feedstock costs surged while product price gains lagged. MRPL Q4 Iran-US conflict escalation in February-March 2026 caused Brent Crude to spike, squeezing refinery spreads globally.<\/p><p>MRPL Q4 results should improve in FY27 if geopolitical tensions ease and crude prices normalise to the $80\u201390\/barrel range. MRPL Q4 complexity advantages, its hydrocracking and delayed coking units, allow processing sour crude at discounted feedstock costs, which partially offsets the macro headwinds.<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#MRPL_Q4_FY26_Results_Date\" title=\"MRPL Q4 FY26 Results Date\">MRPL Q4 FY26 Results Date<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#Why_This_Quarter_Matters\" title=\"Why This Quarter Matters\">Why This Quarter Matters<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#MRPL_Q4_FY26_Earnings_Actual_Results\" title=\"MRPL Q4 FY26 Earnings, Actual Results\">MRPL Q4 FY26 Earnings, Actual Results<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#5_Key_Factors_That_Will_Drive_MRPL_Q4_FY26_Performance\" title=\"5 Key Factors That Will Drive MRPL Q4 FY26 Performance\">5 Key Factors That Will Drive MRPL Q4 FY26 Performance<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#Complexity_Advantages_Hydrocracking_and_Delayed_Coking\" title=\"Complexity Advantages, Hydrocracking and Delayed Coking\">Complexity Advantages, Hydrocracking and Delayed Coking<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#ONGC_Parentage_Crude_Supply_Security\" title=\"ONGC Parentage, Crude Supply Security\">ONGC Parentage, Crude Supply Security<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#Petrochemical_Integration\" title=\"Petrochemical Integration\">Petrochemical Integration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#Export_Revenue_in_USD\" title=\"Export Revenue in USD\">Export Revenue in USD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#FY27_GRM_Recovery_Potential\" title=\"FY27 GRM Recovery Potential\">FY27 GRM Recovery Potential<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#5_Risks_to_Watch_in_MRPL_Q4_FY26\" title=\"5 Risks to Watch in MRPL Q4 FY26\">5 Risks to Watch in MRPL Q4 FY26<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#Crude_Oil_Price_Cyclicality\" title=\"Crude Oil Price Cyclicality\">Crude Oil Price Cyclicality<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#West_Asia_Conflict_Prolongation\" title=\"West Asia Conflict Prolongation\">West Asia Conflict Prolongation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#Government_Policy_Risk_Fuel_Pricing\" title=\"Government Policy Risk, Fuel Pricing\">Government Policy Risk, Fuel Pricing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#Debt_Levels\" title=\"Debt Levels\">Debt Levels<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#Environmental_Compliance_Costs\" title=\"Environmental Compliance Costs\">Environmental Compliance Costs<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#MRPL_Q4_Share_Price_and_Analyst_Ratings\" title=\"MRPL Q4 Share Price and Analyst Ratings\">MRPL Q4 Share Price and Analyst Ratings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#What_was_MRPL_Q4_FY26_net_profit\" title=\"What was MRPL Q4 FY26 net profit?\">What was MRPL Q4 FY26 net profit?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#What_was_MRPL_Q4_FY26_PAT_estimate\" title=\"What was MRPL Q4 FY26 PAT estimate?\">What was MRPL Q4 FY26 PAT estimate?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#What_is_MRPLs_share_price_ahead_of_Q4_results\" title=\"What is MRPL&#8217;s share price ahead of Q4 results?\">What is MRPL&#8217;s share price ahead of Q4 results?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#Will_MRPL_declare_a_dividend_in_Q4_2026\" title=\"Will MRPL declare a dividend in Q4 2026?\">Will MRPL declare a dividend in Q4 2026?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#Which_analysts_have_a_Buy_rating_on_MRPL\" title=\"Which analysts have a Buy rating on MRPL?\">Which analysts have a Buy rating on MRPL?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#What_were_MRPL_Q3_FY26_results\" title=\"What were MRPL Q3 FY26 results?\">What were MRPL Q3 FY26 results?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#When_do_Infosys_and_TCS_announce_Q4_results_2026\" title=\"When do Infosys and TCS announce Q4 results 2026?\">When do Infosys and TCS announce Q4 results 2026?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#Is_MRPL_a_good_investment_ahead_of_Q4_results\" title=\"Is MRPL a good investment ahead of Q4 results?\">Is MRPL a good investment ahead of Q4 results?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/univest.in\/blogs-2\/mrpl-q4-fy26-results-pat-117-crore\/#Recent_Article\" title=\"Recent Article\">Recent Article<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"MRPL_Q4_FY26_Results_Date\"><\/span><strong>MRPL Q4 FY26 Results Date<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Get free investment research on <a href=\"https:\/\/univest.in\/user\/log-in\">Univest<\/a>.<\/p><p>MRPL Q4 FY26 results were declared on April 24, 2026. TCS Q4 FY26 results (April 9) are analysed at <a href=\"https:\/\/univest.in\/blogs\/tcs-q4-results-2026-date-preview\">Univest Blogs<\/a> and Infosys Q4 FY26 results (April 23) at <a href=\"https:\/\/univest.in\/blogs\">Univest Blogs<\/a>.<\/p><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Company<\/strong><\/td><td><strong>Q4 Results Date<\/strong><\/td><td><strong>Status<\/strong><\/td><\/tr><tr><td>TCS<\/td><td>April 9, 2026<\/td><td>Declared<\/td><\/tr><tr><td>Infosys<\/td><td>April 23, 2026<\/td><td>Declared<\/td><\/tr><tr><td>MRPL<\/td><td>April 24, 2026<\/td><td>Declared<\/td><\/tr><\/tbody><\/table><\/figure><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_This_Quarter_Matters\"><\/span><strong>Why This Quarter Matters<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>MRPL Q4 is a direct proxy for India&#8217;s oil refining sector health during the West Asia conflict period. MRPL Q4 results quantify how much the crude supply disruption impacted one of India&#8217;s key coastal refineries.<\/p><p>MRPL Q4 ONGC parentage ensures financial support and crude supply access even during market dislocations, an advantage versus private refiners in a crisis period.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"MRPL_Q4_FY26_Earnings_Actual_Results\"><\/span><strong>MRPL Q4 FY26 Earnings, Actual Results<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Access premium research and analyst ratings on <a href=\"https:\/\/univest.in\/user\/log-in\">Univest<\/a>.<\/p><p>MRPL Q4 PAT of \u20b9117 crore is significantly below historical run rates, reflecting the extraordinary impact of the West Asia conflict on crude differentials and refinery margins. This is expected to be temporary.<\/p><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Metric<\/strong><\/td><td><strong>Q4 FY25<\/strong><\/td><td><strong>Q4 FY26<\/strong><\/td><td><strong>YoY<\/strong><\/td><td><strong>Notes<\/strong><\/td><\/tr><tr><td>PAT (\u20b9 Cr)<\/td><td>~400<\/td><td>116.99<\/td><td>\u219371%<\/td><td>GRM compression<\/td><\/tr><tr><td>GRM ($\/bbl)<\/td><td>$5-6<\/td><td>Compressed<\/td><td>\u2193<\/td><td>West Asia impact<\/td><\/tr><tr><td>Refinery Capacity<\/td><td>15 MMTPA<\/td><td>15 MMTPA<\/td><td>Stable<\/td><td>Full capacity<\/td><\/tr><\/tbody><\/table><\/figure><p>MRPL Q4 FY27 GRM recovery trajectory will be key. If crude price normalises to $80\u201385\/barrel and Hormuz Strait reopens to full capacity, MRPL Q4&#8217;s Q1 FY27 should show meaningful recovery.<\/p><p>Screen <a href=\"https:\/\/univest.in\/screeners\">MRPL fundamentals<\/a> on the Univest Screener.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Key_Factors_That_Will_Drive_MRPL_Q4_FY26_Performance\"><\/span><strong>5 Key Factors That Will Drive MRPL Q4 FY26 Performance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Complexity_Advantages_Hydrocracking_and_Delayed_Coking\"><\/span><strong>Complexity Advantages, Hydrocracking and Delayed Coking<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>MRPL Q4 refinery&#8217;s advanced configuration allows it to process cheap, heavy sour crude that simpler refineries cannot handle, in normal market conditions, this creates $2\u20134\/barrel GRM advantage over Nelson Complexity Index peers.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ONGC_Parentage_Crude_Supply_Security\"><\/span><strong>ONGC Parentage, Crude Supply Security<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>MRPL Q4 ONGC parentage provides preferential access to crude supply, financial support during crises, and institutional credibility with lenders. MRPL Q4 ONGC backing reduces business continuity risk during commodity disruptions.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Petrochemical_Integration\"><\/span><strong>Petrochemical Integration<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>MRPL Q4 polypropylene and other petrochemical units diversify revenue beyond petroleum products. MRPL Q4 petrochemical segment generates higher margins than fuel products and is less correlated with crude price cycles.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Export_Revenue_in_USD\"><\/span><strong>Export Revenue in USD<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>MRPL Q4 significant petroleum product exports, to Sri Lanka, Bangladesh, and African nations, generate USD revenue, providing natural INR depreciation hedge.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FY27_GRM_Recovery_Potential\"><\/span><strong>FY27 GRM Recovery Potential<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>MRPL Q4 compressed GRM of FY26 Q4 is expected to normalise as the West Asia conflict impact fades. Historical GRM of $5\u20138\/barrel represents a significant PAT recovery opportunity in FY27.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Risks_to_Watch_in_MRPL_Q4_FY26\"><\/span><strong>5 Risks to Watch in MRPL Q4 FY26<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Crude_Oil_Price_Cyclicality\"><\/span><strong>Crude Oil Price Cyclicality<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>MRPL Q4 PAT is directly and severely impacted by crude oil price movements and refinery margin cycles, neither of which the company can control.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"West_Asia_Conflict_Prolongation\"><\/span><strong>West Asia Conflict Prolongation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>If the Iran-US conflict escalates further in FY27, crude supply disruptions could continue compressing MRPL Q4&#8217;s refinery economics beyond current expectations.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Government_Policy_Risk_Fuel_Pricing\"><\/span><strong>Government Policy Risk, Fuel Pricing<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>MRPL Q4 is subject to government petroleum product pricing policies, fuel subsidy requirements or price caps can compress refinery realisations.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Debt_Levels\"><\/span><strong>Debt Levels<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>MRPL Q4 carries significant debt from refinery expansion investments. High interest costs create PAT drag even when GRM is moderate.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Environmental_Compliance_Costs\"><\/span><strong>Environmental Compliance Costs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>MRPL Q4 faces increasing environmental compliance requirements, BS-VI fuel standards, cleaner refinery emissions, and carbon reporting, all requiring ongoing capital investment.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"MRPL_Q4_Share_Price_and_Analyst_Ratings\"><\/span><strong>MRPL Q4 Share Price and Analyst Ratings<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>MRPL Q4 stock has declined 20% over the past year, reflecting refinery margin headwinds. MRPL Q4 FY27 recovery potential is significant if geopolitical tensions ease and GRM returns to $6\u20138\/barrel.<\/p><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Brokerage<\/strong><\/td><td><strong>Rating<\/strong><\/td><td><strong>Target Price<\/strong><\/td><td><strong>Investment Thesis<\/strong><\/td><\/tr><tr><td>ICICI Direct<\/td><td>Neutral<\/td><td>\u20b9170<\/td><td>GRM compressed by West Asia conflict<\/td><\/tr><tr><td>Kotak Inst.<\/td><td>Neutral<\/td><td>\u20b9165<\/td><td>Refinery margins cyclical; O2C headwinds<\/td><\/tr><tr><td>MOFSL<\/td><td>Buy<\/td><td>\u20b9200<\/td><td>Upgrade post-Q4 recovery; FY27 normalisation<\/td><\/tr><\/tbody><\/table><\/figure><p>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> for live stock alerts and analyst ratings.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>MRPL Q4 FY26 PAT of \u20b9117 crore reflects the extraordinary impact of the West Asia conflict on global refinery margins. MRPL Q4 long-term fundamentals, refinery complexity, ONGC backing, and GRM recovery potential, remain intact. FY27 recovery depends on geopolitical normalisation.<\/p><p>Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only and does not constitute investment advice. All financial data and analyst estimates are sourced from publicly available information including NSE\/BSE filings and company investor relations pages. Verify all numbers before investing. Consult a SEBI-registered advisor before making investment decisions.<\/p><p>For more Q4 FY26 results analysis, visit <a href=\"https:\/\/univest.in\/blogs\">Univest Blogs<\/a>.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_was_MRPL_Q4_FY26_net_profit\"><\/span><strong>What was MRPL Q4 FY26 net profit?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>MRPL Q4 FY26 consolidated PAT was \u20b9116.99 crore as declared on April 24, 2026.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_was_MRPL_Q4_FY26_PAT_estimate\"><\/span><strong>What was MRPL Q4 FY26 PAT estimate?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>The MRPL Q4 FY26 actual results are now confirmed. Pre-results, analyst estimates varied. The confirmed PAT is \u20b9116.99 crore.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_MRPLs_share_price_ahead_of_Q4_results\"><\/span><strong>What is MRPL&#8217;s share price ahead of Q4 results?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>MRPL stock traded at approximately \u20b9145 ahead of Q4 FY26 results on April 24, 2026.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Will_MRPL_declare_a_dividend_in_Q4_2026\"><\/span><strong>Will MRPL declare a dividend in Q4 2026?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>No dividend has been confirmed for MRPL Q4 FY26. Check BSE\/NSE filings for any dividend announcement.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Which_analysts_have_a_Buy_rating_on_MRPL\"><\/span><strong>Which analysts have a Buy rating on MRPL?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Analyst ratings and target prices for MRPL are available on the Univest Screener and in the article above.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_were_MRPL_Q3_FY26_results\"><\/span><strong>What were MRPL Q3 FY26 results?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>MRPL Q3 FY26 results reflected early GRM compression from crude market volatility. Specific Q3 figures are available on the Univest Screener.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"When_do_Infosys_and_TCS_announce_Q4_results_2026\"><\/span><strong>When do Infosys and TCS announce Q4 results 2026?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>TCS Q4 FY26 results were declared on April 9, 2026, full analysis at Univest Blogs.&nbsp; Infosys Q4 FY26 results were declared on April 23, 2026, full analysis also available at Univest Blogs.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Is_MRPL_a_good_investment_ahead_of_Q4_results\"><\/span><strong>Is MRPL a good investment ahead of Q4 results?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>MRPL Q4 results have now been declared. Investment suitability depends on individual risk profile and financial goals. Consult a SEBI-registered financial advisor before making any investment decisions.<\/p><p>Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only and does not constitute investment advice. All financial data and analyst estimates are sourced from publicly available information including NSE\/BSE filings and company investor relations pages. Verify all numbers before investing. Consult a SEBI-registered advisor before making investment decisions.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Recent_Article\"><\/span><strong>Recent Article<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><a href=\"https:\/\/univest.in\/blogs\/vrl-logistics-q4-results-2026-2\">VRL Logistics Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/vraj-iron-and-steel-q4-results-2026\">Vraj Iron and Steel Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/voltas-q4-results-2026\">Voltas Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/voltamp-transformers-q4-results-2026\">Voltamp Transformers Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/vodafone-idea-q4-results-2026\">Vodafone Idea Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Mangalore Refinery and Petrochemicals Limited (MRPL) Q4 FY26 results show consolidated PAT of \u20b9116.99 crore, compressed by the West Asia conflict that drove crude oil price volatility and refinery margin pressure during January-March 2026. MRPL Q4 is a subsidiary of ONGC and operates a 15 MMTPA refinery at Mangalore, Karnataka. MRPL Q4 gross refining margin<\/p>\n","protected":false},"author":23,"featured_media":77936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[4027],"class_list":["post-77931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-q4-fy26-results"],"metadata":{"_edit_lock":["1777284660:23"],"_last_editor_used_jetpack":["block-editor"],"rank_math_internal_links_processed":["1"],"amazonS3_cache":["a:2:{s:63:\"\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/04\/image-1342.jpeg\";a:2:{s:2:\"id\";i:77933;s:11:\"source_type\";s:13:\"media-library\";}s:95:\"\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/04\/27153616\/image-1342.jpeg\";a:2:{s:2:\"id\";i:77933;s:11:\"source_type\";s:13:\"media-library\";}}"],"rank_math_primary_category":["842"],"rank_math_seo_score":["77"],"rank_math_robots":["a:2:{i:0;s:8:\"nofollow\";i:1;s:7:\"noindex\";}"],"rank_math_title":["MRPL Q4 FY26 Results: PAT \u20b9117 Crore, Refinery Recovery from West Asia Conflict Impact"],"rank_math_description":["MRPL Q4 FY26 results declared April 24, 2026. 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