Mangalore Refinery and Petrochemicals Limited — Updates, 26-04-2025: Press Release

Mangalore Refinery and Petrochemicals Limited (MRPL) has reported its financial results for the fourth quarter and fiscal year ended March 31, 2025, during a recent board meeting.

**Financial Highlights:**

In Q4 FY 2024-25, revenue from operations decreased to ₹27,601 Crore from ₹29,190 Crore in the same quarter last year. Profit Before Tax (PBT) fell significantly to ₹584 Crore, down from ₹1,766 Crore, while Profit After Tax (PAT) stood at ₹363 Crore compared to ₹1,137 Crore. The Gross Refining Margin (GRM) dropped to US$6.23 per barrel from US$11.35 per barrel year-on-year.

For the full fiscal year, MRPL's revenue increased to ₹1,09,277 Crore from ₹1,05,223 Crore. However, PBT dropped to ₹113 Crore from ₹5,521 Crore, and PAT was just ₹51 Crore, down from ₹3,596 Crore. The annual GRM was also down at US$4.45 per barrel, compared to US$10.36 per barrel in the previous fiscal year.

**Strategic Initiatives and Growth Drivers:**

MRPL achieved its highest-ever crude throughput of 18.044 MMT and improved its distillate yield to 81.93%. New projects, including a Bitumen train and PFCC Wet Gas Scrubber, were commissioned, indicating ongoing operational improvements.

**Investor Implications:**

Investors should monitor MRPL closely. While there are operational efficiencies, the significant decline in profitability and GRM signals a challenging market environment. The positive growth in revenue may provide some support, but the overall financial results warrant caution.