Mangalore Refinery and Petrochemicals Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
MRPL · price
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On the reaction day the stock moved 6.4 pts less than Nifty Smallcap 250 and 6.4 pts less than its Refineries & Marketing peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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MRPL reported a weak Q1 FY26 with standalone revenue from operations falling about 23% year-on-year to ₹20,988 crore from ₹27,289 crore in Q1 FY25. The company swung to a net loss of ₹271.97 crore versus a profit of ₹65.57 crore in the same quarter last year, translating to a loss per share of ₹1.55. Operating margin turned negative at -1.06% compared with +1.15% a year ago, as expenses stayed elevated relative to revenue. Interest service coverage ratio dropped sharply to 0.85 from 3.03 YoY, total borrowings rose to ₹13,608 crore (debt-equity at 1.08 vs 0.89), and long-term debt to working capital jumped to 15.52 from 5.24, indicating significant stress on leverage and servicing ability. The Board also approved the appointment of M/s Bandyopadhyaya Bhaumik & Co. as Cost Auditor for FY25-26 and recommended an amendment to the Object Clause of the MOA for shareholder approval.
Sharp revenue decline coupled with a swing to loss and weakening coverage ratios is likely to weigh negatively on the stock in the near term; investors should watch for margin recovery and any clarity on margin compression drivers (crack spreads, inventory losses).