MRPL shares zoom 11% after Q1 turnaround; revenue nearly doubles

Shares of Mangalore Refinery and Petrochemicals (MRPL) surged 11.3% to Rs 175.30 in Thursday's trade after the company reported a strong Q1FY27 performance, driven by a sharp jump in revenue and a turnaround in profitability.

Revenue from operations nearly doubled year-on-year (YoY) to Rs 41,609 crore in Q1FY27 from Rs 20,989 crore a year earlier, marking a growth of 98.2%.

The company also returned to profitability, posting a profit after tax (PAT) of Rs 915 crore in Q1FY27, compared with a net loss of Rs 272 crore in the corresponding quarter last year.


In addition to its strong financial performance, MRPL achieved several operational milestones during the quarter. It received PNGRB authorisation for an aviation turbine fuel (ATF) pipeline connecting the Devangonthi Terminal to Kempegowda International Airport in Bengaluru.

MRPL also commenced product loading operations at the Aegis Terminal in Mangaluru, the Hindupur depot in Andhra Pradesh and the Ennore terminal in Tamil Nadu.

The company further strengthened its logistics network by signing lease agreements for storage tankages at key locations, including Jawaharlal Nehru Port Authority (JNPA) in Navi Mumbai, Kakinada and Krishnapatnam in Andhra Pradesh.

Stock performance and technical view

Despite Thursday's rally, MRPL shares are down nearly 7% over the past month.

The company has a market capitalisation of around Rs 27,598 crore. The stock hit a 52-week high of Rs 212.31 and a 52-week low of Rs 120.40.

Technically, the stock remains in a neutral zone, with its 14-day Relative Strength Index (RSI) at 52.7. An RSI below 30 indicates oversold conditions, while a reading above 70 suggests the stock may be overbought.

MRPL is also trading above all eight key Simple Moving Averages (SMAs), signalling a positive technical setup.

Shareholding trend

Foreign institutional investors (FIIs) cut their stake in MRPL to 2.17% in the June 2026 quarter from 3.41% in the previous quarter.

Meanwhile, mutual funds marginally increased their holding to 0.31% from 0.28%, while promoter ownership remained unchanged at 88.58%, reflecting continued promoter confidence.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)