Mangalore Refinery and Petrochemicals (500109) investor relations material

Executive summary

• Achieved significant year-on-year and quarter-on-quarter improvement in Q3, with EBITDA rising to INR 2,824 crores from INR 1,064 crores in Q3 last year, driven by healthy market prices, energy efficiency, and throughput.

• Standalone and consolidated unaudited financial results for the quarter and nine months ended December 31, 2025, were approved by the Board on January 14, 2026.

• Financial statements have been reviewed by the Audit Committee and Joint Statutory Auditors, with no material misstatements identified.

• Fuel and losses at 10.06% marked one of the best quarters; MBN (energy efficiency) posted a record 67.

• No Russian crude is being imported; 40% of crude sourced from the Middle East, with 70-72% of the slate being heavier crudes.

Financial highlights

• Standalone revenue from operations for the quarter: ₹29,720.13 crore, up from ₹25,952.94 crore year-over-year.

• Standalone net profit for the quarter: ₹1,445.16 crore, up from ₹638.67 crore year-over-year.

• Consolidated net profit for the quarter: ₹1,450.89 crore, up from ₹627.36 crore year-over-year.

• EBITDA for Q3 was INR 2,824 crores, up from INR 1,064 crores year-over-year.

• Operating margin for the quarter: Standalone 9.67%, Consolidated 9.69%.

Outlook and guidance

• Targeting further reduction in fuel and losses to 9.5-10% with grid power project completion next year.

• Expecting to maintain healthy operational performance and profitability in Q4 and FY 2026.

• Retail outlet expansion to 250 by year-end, 500 in three years, and 1,000 in five years.

• Annual CapEx guidance remains at INR 1,500 crores, with similar levels expected for FY 2027.

• Management assessed ongoing geopolitical conditions and found no significant impact on asset values or recoverability.