MRPL shares tumble 5% after explosion at Mangaluru plant, thick smoke seen from refinery unit

Shares of Mangalore Refinery and Petrochemicals (MRPL) dropped more than 5% on Wednesday afternoon after an explosion was reported at one of its plants in Mangaluru, with visuals showing thick plumes of smoke rising from its refinery unit.

MRPL shares dropped to Rs 162.50 apiece on NSE in the afternoon. Notably, the stock has crashed more than 10% from the day’s high following the incident. A fire was reported at the oil refinery near Jokatte in Karnataka, with several fire brigades and ambulances seen rushing to the incident, although the cause is yet unknown.

Also read | Explosion reported at MRPL facility in Mangaluru, Karnataka


The villagers living close to the refinery heard a loud blast sound and felt tremors as a result, with some reporting broken windows as a result of the impact, Times Now reported. The fire at the plant has been brought under control, ToI quoted city police commissioner Sudheer Kumar Reddy CH as saying.

One person sustained burn injuries covering around 35% of his body and was rushed to the hospital, where he is undergoing treatment in the ICU, while six others suffered minor injuries, the report added. It further said that the MRPL has confirmed there were no casualties in the incident, although what impact it may have had on operations has not been reported yet.

The blast was reportedly heard at the Mangaluru airport as well, where windows of the administrative office rattled as a result of the impact. Airport authorities are conducting a visual inspection of vital installations in and out of the airport, ToI reported.

MRPL share price

MRPL shares have fallen around 3% in one month but gained over 8% so far in 2026, outperforming the Nifty 500 index, which has fallen more than 7% over the same period.

In the longer term, the stock has delivered 25% returns in one year, 73% in three years and more than 255% in five years.

Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.