Mangalore Refinery Q2 Results: A Profitable Turnaround Amidst Rising Revenue
Mangalore Refinery and Petrochemicals Ltd. has posted a consolidated profit of Rs 627 crore in the second quarter of this financial year, marking a significant turnaround from the previous quarter’s loss of Rs 271 crore. This improvement in profitability is a welcome sign for investors, who have been eagerly awaiting the company’s quarterly earnings report.
Revenue Growth and Operating Income
The company’s revenue increased by 30.5% quarter-on-quarter, reaching Rs 22,649 crore for the three months ended September. This growth in revenue was accompanied by a surge in operating income, or earnings before interest, taxes, depreciation, and amortisation (Ebitda), which rose to Rs 1,489 crore. The Ebitda margin stood at 6.6%, indicating a significant improvement in the company’s operational efficiency.
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Half-Yearly Performance
While the company’s quarterly performance was impressive, its half-yearly numbers told a different story. Revenue from operations for the first half of this fiscal year decreased to Rs 46,941 crore, compared to Rs 56,075 crore in the same period of the previous fiscal. However, the company did manage to post a profit of Rs 367 crore for the first half of the financial year, a significant improvement from the loss posted in the first six months of the previous fiscal.
Devangonthi Terminal Achieves Record Dispatch
The company’s Devangonthi terminal achieved a record monthly dispatch of 65.40 TKL during September 2025, demonstrating the company’s ability to ramp up production and meet growing demand.
Stock Market Reaction
The quarterly earnings report was released after market hours, and the stock settled 0.77% higher at Rs 142.10 apiece on the NSE, compared to a 0.71% advance in the benchmark Nifty. Despite this positive reaction, the company’s shares have fallen 16.35% in the last 12 months and 4.25% year-to-date.
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Analyst Ratings and Price Target
Out of the four analysts tracking the company, two maintain a ‘buy’ rating, while two suggest ‘sell’, according to Bloomberg data. The average 12-month consensus price target of Rs 139.25 implies a downside of 2% from the current market price.
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Conclusion
In conclusion, Mangalore Refinery and Petrochemicals Ltd.’s Q2 results were a positive surprise, with the company swinging to profit and reporting a significant increase in revenue. While the half-yearly numbers were not as impressive, the company’s ability to ramp up production and meet growing demand is a positive sign. Investors will be watching the company’s future performance closely, and the analyst ratings and price target will be an important factor in determining the stock’s future direction.
