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Mangalore Refinery & Petrochemicals Limited (MRPL) was set up as a joint venture (JV) between the AV Birla Group and Hindustan Petroleum Corporation Limited (HPCL). It is now a subsidiary of Oil & Natural Gas Corporation(ONGC). The company is mainly engaged in the business of refining crude oil, petrochemical business, trading of aviation fuels and distribution of petroleum products through retail outlets and transport terminals.
MRPL posted strong FY26 results: Revenue ₹1,05,155 Cr, PAT surged to ₹1,931 Cr, and GRM hit US$9.22/barrel. A ₹4/share dividend was declared. Operational efficiency remained high at 112% capacity, alongside retail expansion and new Sustainable Aviation Fuel and Green Hydrogen initiatives.