MRPL Results Analysis

Operating Revenue for Q2FY26 is Rs. 25,953 Cr., 9.84% Negative growth YoY, Total Income is Rs. 26,014 Cr., 9.75% Negative growth YoY, EBITDA is Rs. 1488 Cr. turned profitable from loss of Rs. 474 Cr. YoY, PBT Rs. 963 Cr. turned profitable from loss of Rs. 1056 Cr. YoY, PAT Rs. 627 Cr., turned profitable from loss of Rs. 697 Cr. YoY. On QoQ basis Operating Revenue has 23.66% Growth, EBITDA is also grown by 731%, PBT and PAT turns profitable from loss is previous quarter. Strong operating recovery post-turnaround: Q2 crude throughput 4.4 MMT; guidance for Q3 “above 4.43 MMT. Export share: ~40% of turnover (Q2). MRPL delivered a clean operational rebound with high utilization, a middle-distillate-lean slate, and stronger cracks flowing through to EBITDA