Interim report
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मंगलूर रिफाइनरी एण्ड पेट्रोकेमिकल्स लिमिटेड MANGALORE REFINERY AND PETROCHEMICALS LIMITED अनुसूची ‘ot के अंतर्गत भारत सरकार का उद्यम SCHEDULE ‘A’ GOVT. OF INDIA ENTERPRISE (ऑयल एण्ड नेचुरल गैस कॉरपोरेशन लिमिटेड की सहायक कंपनी A SUBSIDIARY OF OIL AND NATURAL GAS CORPORATION LIMITED) आई.एस.ओ. 9001, 14001 एवं 50001 प्रमाणित कंपनी AN ISO 9001, 14001 AND 50001 CERTIFIED COMPANY सीआईएन/ CIN : L19200KA1988G01008959 , Website : www.mrpl.co.in 14/10/2026 The Assistant General Manager, The Compliance & Listing Department Listing Compliance, BSE Limited National Stock Exchange of India Limited Scrip Code: 500109, Symbol: MRPL, Series: EQ, ISIN: INE103A01014 ISIN: INE103A01014 Scrip Code (Debenture): 959162, 959250, 973692 | Debt Security: INE103A08019, INE103A08035, INE103A08050 Dear Sir/Madam, Subject: | Outcome of the Board Meeting - Regulation 30 and 51 of the SEBI (Listing _ Obligations and Disclosure Requirements), Regulations, 2015. [Ref: Intimation letter dated October 05 and October 08, 2026] Pursuant to Regulation 30 and Regulation 51 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, it is to inform that the Board of Directors (“Board”) at its Meeting held on October 14, 2026, inter alia considered and approved the following: i. Standalone and Consolidated Un-Audited Financial Results for the Quarter and Half year endedSeptember30, 2026 Pursuant to Regulation 33 & 52 read with Schedule III of SEBI (LODR) Regulations, 2015, the Un-Audited Financial Results (Standalone and Consolidated) along with Limited Review Report thereon for the Quarter and Half year ended September 30, 2026 is enclosed at ‘Annexure -I’. Further, Regulation 32, of SEBI (LODR) i.e. Statement of Deviation and Variation is not applicable for the Company. ii. Declaration of Interim Dividend for the Financial Year 2026-27 An Interim dividend at the rate 23 /- on fully paid up equity shares of %10/- each i.e. @3m& for the Financial Year 2026-27. iii. Record date for Interim Dividend for the Financial Year 2026-27 Pursuant to Regulation 42 of SEBI (LODR), the Board has fixed October 21, 2026 as the "Record Date" for the purpose of ascertaining the eligibility of shareholders for payment of interim dividend. The Interim Dividend would be paid to eligible shareholders on or before Novemberoy, 2026. The Board Meeting commenced at/4:3Ohrs and concluded at! 3¢hrs. The above information is also available on the Company website www.mrpl.co.in. We request you to kindly take the above on record. Thank you. Yours faithfully, For Mangalore Refinery and Petrochemicals Limited Premachandra Rao G Company Secretary be Encl: A/a var Email invesiom@mplcoin पंजीकृत कार्यालय gage पोस्ट, वाया काटीपल्ला मंगलुरु-575030 (भारत)... 16: 0824-227040C
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Annexure- I LOOK ND = MANGALORE REFINERY AND PETROCHEMICALS LIMITED {A subsidiary of 01 and Natural Gas Corporation Limited - ONGC) CIN: L19200KA1988G01008959 Regd. Office : Mudapadav, Kuthethoor P.O., Via Katipalla, Mangaluru - 575 030, Karnataka STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 {All amounts are In ₹ै Crore except per share data) शाएप्रर ऋण 1 पूरा Year Ended Ss[retest | ‘30.09.2026 | 30.06.2026 |30.09.2025| 30.09.2026 | 30.09.2025 |“31.03.2026| [“Unaudited|Unaudited|Unaudited|Unaudited|Unaudited|Audited_| [a] [Revenue from Operations 35,590.40 | 47,608.96 | 25,953.04] 77,199.36 | 46,947.87 | 1,05,155.49 U_|Other Income 49.54 70.89 76.36 120.40 114.52 213.19 | ॥ [Total income (rH) |35,639.91| 41,679.85 | 26,029.70 | _77,319.76 | _ 47,056.39 | 1,05,368.68 | Expenses (Cost of Materials Consumed 29,109.27 | 95,242.00 | 20,551.28 | 64,351.27] 35,726.70 | 78,923.08 Purchases of Stock-in-Trade 5.75 5.37 4.61 41.12 11.23 20.70 Changes in Inventories of Finished Goods, Stock-in- (921.28) 454.52 (481.45)| (466.74) 720.47 (885.74) Process Excise Duty 3,074.16 | 3,354.77 | 3,304.37 | 6,428.93] 6,936.17 | 16,488.00 Employee Benefits Expense 179.07 477.14 173.81 356.21 347.93 838.05 Finance Costs 283.85 244.31 219.22 528.16 476.40 907.23, Depreciation and Amortisation Expense 406.89 401.14 370.97 808.03 734.31 | 1,519.87 Other Expenses 864.49 | 1,057.55 912.23 | 1,922.04] 1,531.42 | 3,535.95 [Total Expenses (IV) [33,002.22 | 40,936.80 |25,055.04| 73,939.02 | 46,484.63 |1,01,347.14| V_ [Profit (Loss) Before Exceptional Items and Tax (110) | 2637-68 (al 974.66 [3,980.74 574.76 [70 | (“|[Exceptional Items (IncomeyExpenses [nel] 118.76 (47176) [| (353.00) ||[| [Refer note no. 5] |Vii_|Profit/ (Loss) Before Tax (V- VI [2516.93|121481| 97406 |3733.74 |s7i76| 4,021.54| i [Tax Expenses [Refer note no. 6] (1) Current Tax -Current year 603.38, 256.83 97.35 860.21 97.35 705.50 -Earlier years, : (20.56) - (20.58) - : (2) Deferred Tax 34.66 63.72 238.64 98.38 107.71 | 1,384.82 |_1X_[Net Profit(Loss)for the period (Vi-vilh 7380.89] 91482| 638.67 | 2,795.71 366.70 |1,931.22| |_X [Other Comprehensive Income toms that will not be reclassified to Profit or Loss. Remeasurement of the Defined Benoft Plans | 3.88)}(3.89) 7.33) 777) (4ee)] 2.32| [income Tax relating to above |_ 0.98 | oss] 256[ _18 ___ 5121(81| | x |‘Total Comprehensive Income for the period (00४0) 1,877.99 [|me 2,769.90 [| 4,932.73 [xa | Paid up Equity Share Capital (Face value € 10/- each) 1,752.60 | 1,752.60] 1,752.60 [_1.752.60 | 1,752.60 | 1,752.60 |Xill [Other Equity [12,414.49| XIV |Earnings per Share (EPS) (Face value of ¥ 10/- each) (not annualised) fa) Basic (®) 10.73 5.22 364 15.95 2.08 11.02 0) Dituted_(%) 10.73 5.22 3.64 15.95 2.09 44.02
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MANGALORE REFINERY AND PETROCHEMICALS LIMITED {A subsidiary of Oil and Natural Gas Corporation Limited - ONGC) CIN: L19200KA1988G01006959 Regd. Office : Mudapadav, Kuthethoor P.O., Via Katipalla, Mangaluru - 575 030, Karnataka STATEMENT OF STANDALONE ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2026 (All amounts are in ₹ Crore) [Particulars _/_़़़़़़॒॒ख़ख़.............$/&($६#|] &हा3ड__._..हह-॒.....॒/$/$॒$.$......$...........:/:/:/&जउठछठत्छ |97.03.2026| |__1 |Non-Current Assets: [Unaudited| Audited (@) Property, Plant and Equipment 18,040.93 | 18,669.87 (b) —_—Right-of-Use Assets 4,308.39] 1,372.72 (c) Capital Work-in-Progress 931.46 828.41 (¢) Investment Property 7.63 7.63 te) Goodwill 377.28 377.28 0). 000 intangible Assets 2047 23.77 (9) _ Intangible Assets under Development 7817 68.30 (h) Financial Assets (i) Investment in Joint Venture 15.00 15.00 (i) Other Investments 4.99 4.89 (ii) Loans 227.33 218.70 (iv) Other Financial Assets 145.90 140.33 ) Income Tax Assets (net) 174.61 190.33 a Other Non-Current Assets 781.56 790.87 [Total Non Current Assets (I) |22,424.32| 22,708.10 [MW |CurentAssets—OSOSCSOSOSOSOSOCOCSCSCSCSCSCSCSCSCSCSSSSSSSY @) Inventories 16,749.90] 14,421.56 fe) ‘Financial Assets () Trade Receivables 7,479.89] 6,058.80 (i) Cash and Cash Equivalents 693.61 564.48, (ii) Bank Balances other than (ii) above 85.42 46.11 (४)... Loans 32.39 29.33 () Other Financial Assets 144.92 146.03 Ke Other Current Assets 188.74 477.40 [SubtotalcurrentassetsOOSCSCS—SCSCSCSCSCSCSCSCSCSCSCSCSCSCSCSCSCSCSSC« TH | TAT INon-Current Assets held for Sale a) -“-। [TotalCurrentAssets()OOCOCSCSCSCSCSCSCSCSCSCSCSCSCSCSCSC‘C~CSCSCSCSCSYSC 874.9 [ उठता [TOTAL ASSETS (I+) 47,495.65 | 44,451.51 EQUITY AND LIABILITIES 30.09.2026 |34.03.2026| [1हिण७ __._ ७ हैफझऊ. //$&$."»"१».फ»»$3तफफ Unaudited|" Audited (0)... Equity Share Capital 1,752.66 | 1,752.68 (७) ___ 000 Equi 15,205.39 | 12,414.49 [Total Equity ( हू 16,958.05 |14,167.15| (URBITIES eeee [_tt_|Non-Current Liabilities (@) Financial Liai @ Borrowings 8051.51] 8,504.41 (i) Lease Liabitty : 855.82 910.86 (b) Provisions 303.21 286.37 (c) Deferred Tax Liabilities (net) 1,246.01] 1,149.58 (6) 000 Non Current Liabi 460.18 447.12 [Total Non Current Liabilities (I 70,916.73 |14,268.34| | व |CurrentLiabilitiesCSC (@) Financial Uabilties () Borrowings 1,193.75] 5,829.29 (i) Lease Liability 102.61 96.46 (ii) Trade Payables Total outstanding dues of micro enterprises and small enterprises 1.02 89.36 Total outstanding dues of creditors other than micro enterprises and small enterprises 14,793.60 | 10,973.56 (Ww) Other Financial Liabilities 943.75 913.94 (00. 00७ Current Liabilities 1,807.37 669.90 Kc) Provisions 328.85 443.51 (2) Current Tax Liabilities (net) 449.92 - [Total Current Liabitities (IW) 719,620.87 | 19,016.02 [_1V_ [Total Liabilities (1911) 30,537.60 | 30,284.36 [TOTAL EQUITY AND LIABILITIES (HIV) 47,495.65 |44,451.51| a
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MANGALORE REFINERY AND PETROCHEMICALS LIMITED (A subsidiary of Oil and Natural Gas Corporation Limited - ONGC) CIN: L19200KA1988G01008959 Regd. Office:Mudapaday, Kuthethoor P.O., Via Katipalla, Mangaluru - 575 030, Karnataka ‘STANDALONE STATEMENT OF CASH FLOWS FOR THE HALF YEAR ENDED SEPTEMBER 30, 2026 ॥ amounts aro in & Crore) Half Year Ended Pent 30.09.2026 | 30.09.2025 Unaudited |Unaudited| |_A_| CASH FLOW FROM OPERATING ACTIVITIES Profit /(Loss) After Tax 2,795.71 366.70 Adjustments for : Tax Expense 938.03 205.06 Depreciation and Amortisation expense 808.03 734.34 Loss/ (Profit) on discard/disposal of Property, Plant and Equipment (net) 158.13 43.90 Excess Liability written back (10.01) (19.58) Provision/ Impairment (net) 388.81 13.37 Write offs 0.14 0.01 Exchange Rate Fluctuation (net) 10.47 197.41 Finance Costs 528.16 476.40 Interest Income (29.08) (22.53) Dividend Income/ Fair Value Gains (0.64)| (15.62) ‘Amortisation of Prepayments 0.34 0.34 Amortisation of Deferred Government Grant (38.12) | (40.39) Others. 7.78) 14.66) 5,542.19 | 1,924.72 Movements in Working Capital : ~ (Increase) Decrease in Trade and Other Receivables (1,814.37) 187.25 = (Increasé)’ Decrease in Loans (1.08) (14.68) + (increase)Y Decrease in Other Assets 255.99 32.31 + (Increase)! Decrease in Inventories (2,328.34)| (648.55) - Increase/ (Decrease) in Trade Payables and Other Liabilities 4,721.86 | 2.944.90 Cash generated from Operations 6,379.27 | 4,425.95 Income Taxes paid, net of refunds 370.29 (97.71) Net Cash generated from / (used in) Operations [|(७)| 6,008.98 [4,328.24| लि_| CASH FLOW FROM INVESTING ACTIVITIES 7 Payments for Property, Plant and Equipment and intangible Asset (440.20)| (753.31)] Capital Grants Received 1.43 0.45 Proceeds from disposal of Property, Plant and Equipment 0.36 0.28 Interest Received 8.86 5.48 Dividend received from Joint Venture - 15.00 Income received from investments in mutual fund & AIF 0.64 0.14 Investments. - (0.01) ‘Tax Paid on Interest/ Dividend income (0.84) (1.92) Net Cash generated from / (used in) Investing Activities 1 ७ ___ (429.75) (733.89) |__| CASH FLOW FROM FINANGING ACTIVITIES Proceeds from Long Term Borrowings 293.03 5 Repayments of Long Term Borrowings (907.17) (62.20) Proceeds / (Repayment) from Short Term Borrowings (net) (4,473.35) (2,445.98) Payment of Lease Rentals (Principal Component) (67.43) (12.74) Payment of Lease Rentals (Interest Component) (29.26) (6.88) Finance Costs Paid (275.92, (247.01) Net Cash generated from / (used in) Financing Activities [1 ७ |15,450.10) | (2,706.79) Net Increase/ (Decrease) in Cash and Cash Equivalents [_[atbte)|129.13| 797.56 Cash and Cash Equivalents as at the beginning of the year 564.48 10.10 Cash and Cash Equivalents as at the end of the year 693.61 807.66 Net Change in Cash and Cash Equivalents (Closing - Opening) [429.43 [797.56 Le
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MANGALORE REFINERY AND PETROCHEMICALS LIMITED {A subsidiary of 001 and Natural Gas Corporation Limited - ONGC) CIN: L19200KA1988G01008959 Regd. Office :Mudapaday, Kuthethoor P.O., Via Katipalla, Mangaluru - 575 030, Karnataka Notes to Standalone Financial Resul 1 The Audit Committee has reviewed the above results and the same have been subsequently approved by the Board of Directors in their meetings held on October 14, 2026. 2 The financial results of the Company have been prepared in accordance with the recognition and measurement principles of Indian Accounting ‘Standards (Ind AS), prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules (as amended) issued thereunder and the ‘other accounting principles generally accepted in India. 3° The financial results have been reviewed by the Joint Statutory Auditors as required under Regulation 33 and 52 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), 4 The Company operates only in a single segment viz. downstream petroleum sector. As such reporting is done on a single segment basis. 5 During the current quarter, a fire incident occurred at the Coker Hydrotreater (CHT) Unit located in Phase Il of the Refinery Complex. Based on a preliminary assessment, the Company has provisionally estimated the financial impact of the incident at %118.76 crore, comprising the estimated carrying value of the damaged Property, Plant and Equipment (PPE), corresponding 10 an estimated replacement value of approximately & 225 crore and losses relating (0 inventories & other incidental expenses. The provisionally assessed loss has been presented as an exceptional item in the financial result for the period ended September 30, 2026. The affected assets are adequately insured by the company. The loss recognised will be toviewed and recognised appropriately at subsequent reporting period and would be recognised in the financial statements upon fulfiment of the applicable recognition criteria. Exceptional items reported for the half year includes an additional income (net of expenses) amounting to € 471.76 crore of previous quarter's due to revision of certain petroleum product prices on the supplies made in the earlier period, besides the provisionally assessed loss of & 118.76 Crores on account of the fire incident, resutting in net Exceptional item{income) of ₹ 353.00 Crore. 6 Pursuant to amendments made to Income Tax Act, 2025 vide Finance Act, 2026, the Company has decided to exercise the option for lower tax rate under Section 200 of Income Tax Act, 2025 from Financial Year 2026-27 onwards. Consequently, the effective tax rate applicable to the Company is 2.168% as against earlier tax rate of 34.944% and the Company is allowed to carry forward the accumulated MAT Credit for utilising the same subject to certain conditions. 7 Ajoint venture between the Company, Oil and Natural Gas Corporation Limited (ONGC) and ONGC Petro additions Limited (OPaL), by the name ONGC Petrochemicals Marketing Limited (OPML) has been incorporated on October 7, 2026 for undertaking marketing activities relating to petrochemicals, chemicals and kindred products. The Company holds 25% equity stake in OPML alang with ONGC holding 50% and OPaL. holding 25%, Transactions between OPML and the Company are expected to commence shortly. 8 The Board of Directors in its meeting held on October 14, 2026 has declared the first interim dividend of € 3 per equity share (30%). 9 Additional disclosures as per Regulation 52(4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015: ‘Quarter Ended Half Year Ended Year Ended amNo. | setae || ०० | 30.09.2026 | 30.06.2026 | 30.09 3025 | 30.09.2026 | 30.09.2025 | 31.03.2026 [Unaudited|Unaudited|Unaudited|Unaudited|Unaudited|Audited_] [4 [Debt Equity Ratio [No.oftimes|_—_—0.55 0.77| 07a] 0.55) 0.79 1.07 = |[Capital RedemptionReserve |Zincrore|___ 9.19 91a] 9.13] 9.49] 91g} 9.19) 3 Net Worth |Zincrore| 16,958.05} 15,079.82! 13,291.55] 46,958.05 13,291.55] 14,167.15] | 5 |Profit/ (Loss) after tax |%incrore| 1,880.89 914.82, 638.67, 2,795.74 366.70] 1,931.22] [5_ [Total Borrowings |Zincrore|9,245.26] 11,562.56] 10,552.33 _9,245.26| _10,552.33| 14,333.70] || [Debt Service Coverage Ratio | No. of times 1.88 yora 272| “| 0.66 (OSCR) : Not Annualised 7 interest Service Coverage Ratio | No. of times 11.31 7.61 7.14| 9.60| 3.74) 7M KISCR) | 8 _ |Current Ratio No. of times iz) 1.34] 7.02 iz] 1.02 114 [| lLong Term Debtto Working [No otnes |of times |; 2०|68 1.39| 5»| 2 Capital | | Bad Debts to Account | _| || || || || | Receivable Ratio : tans |of times Not Annualiced = lity Ratio No. oftimes | 0.63| 0.54)| ठ5.58|[oes] 0508 CG [12_ [Total Debts to Total 8७७७७ No. of times 0.19] 0.29, 0.30} 0.19) 0.30] 0.32] | | Debtors Tumover : No. oftimes a 7.10 771 |"1.40} 73.73 21.97 Not Annualised |] inventory Turnover : No. of times 2.57)| | 3.27]| “| 5.83 ||. =| Not Annualised = |45 [Operating Margin % a2] 2.4 433] Sar] हर _हआ। [16_ [Net Profit Margin [| % | S77] 24| 2.82] 3.96] 0७922.8| 17 |Eamnings Per Share: Basic (2) jo73| 5223.64] 75.95] 2.09] 11.02] ot Annualised [Diluted1 | 10.73] 5.22} 3.64] 15.95] 2.09) 11.02) ‘Ailfigures are presented to the nearest bwo decimals.
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MANGALORE REFINERY AND PETROCHEMICALS LIMITED (A subsidiaryof Oil and Natural Gas Corporation Limited - ONGC) पा पीएल लक TAPE Regd. Office : Mudapadav, Kuthethoor P.O, : L19200KA19B8GO1008959 ia Katipalla, Mangaluru - 575 030, Karnataka [The basis of computation of above parameters (wherever required) is provided in the table below: [Debt Equity Ratio [Total Debt/ Shareholder’s Equity |NetWorhSSSS~S~TM~S~SSSSC=«SEQuity Share Capital + Othe Ecquity [Debt Service Coverage Ratio (Net Profit affer Taxes + Depreciation + Finance Cost + other adjusiments ike Loss on] Discard / Disposal of PPE + net Provisions and Write offs) / (Finance Cost + Current Borrowings) interest Service Coverage Ratio EBITDA 7 (Interest & Finance Charges net of amount transferred to expenditure during |construction} [Current Ratio [Current Assets/ Current Liabilities Long Term Debt to Working Cepital Long Term Debt (including current maturities of long term debts\(Current Assets - [Current Liabilities excluding current maturities of long term debts) [Bad Debts to Account Receivable Ratio Bad Debts / Accounts Receivable [Current Liability Ratio [Current Liabilities / Total Liabilities [Total Debts to Total Assets (Long Term Debt + Short Term Debi) / Total Assets: Debtors Tumover [Sales / Average Trade Receivable Inventory Tumover [Sales 7 Average Inventory |Operating Margin (Profit before Exceptional Item and Tax + Finance Cost - Other Income) / Revenue from| |Operations netof Excise Dutyon Sale of Goods. INet Profit Margin Profit after Tax for the Period / Revenue from Operations Net of Excise Duty on Sale ai Goods 10 Figures for the previous periods have been re-grouped wherever necessary. 14 The Company has assessed all the possible effects that may result from ongoing geo-political con is. As per the assessment, these are not having significant effect on the carrying amounts of Property, Plant and Equipment, Inventories, Receivables & Other Current Assets and their recoverability. 12 The above results are available on the websites of NSE and BSE at www-nseindia.com and www.bseindia.com respectively and on the Company's website at www.mrpl.co.in. Qua DEVENDRA KUMAR Place : Bengaluru Director (Finance) Date : 14/10/2026 DIN: 11000531 As per our report of even date attached. For RAM RAJ & CO ForA RAGHAVENDRA RAO & ASSOCIATES Chartered Accountants Chartered Accountants Firm Registration No. : 002839S Firm Registration No. : 0033248 5०८ CA. K SIVA SUBRAMANYA PRASAD CA. 6 SATHYANARAYANA / Partner Partner ४०2 Membership No. 024456 Membership No. 205603 Place : Bengaluru Date ; 14/10/2026
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RAM RAJ & CO A RAGHAVENDRA RAO & ASSOCIATES CILARTERED ACCOUNTANTS, CHARTERED ACCOUNTANTS, No.65, 4 FLOOR, 297 A CROSS No.13-7-849, GH S ROAD, GEETHA COLONY, IV BLOCK, MANGALURU 575001 JAYANAGAR, BENGALURU-560011 PHONE: 0824-2425966/2421566 Mob No.: 9845096215 Mob: 9900415355 E-Mail: auditramraj@gmail.com E-Mail: arrcagaudits@gmail.com Independent Auditor's Limited Review Report on the Unaudited Standalone Financial Results of MANGALORE REFINERY AND PETROCHEMICALS LIMITED ("the Company") for the Quarter and Half Year ended September 30th, 2026 pursuant to the Regulation 33 and 52 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. To, The Board of Directors of, MANGALORE REFINERY AND PETROCHEMICALS LIMITED 1. We have reviewed the accompanying statement of unaudited standalone financial results of MANGALORE REFINERY AND PETROCHEMICALS LIMITED ("the Company") for the quarter and half year ended 30 September, 2026 ("the Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. (“the Listing Regulations"). 2. This statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, ("Ind AS 34"), "Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued there under and other accounting principles generally accepted in India and in compliance with Regulations 33 and 52 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We have conducted review of the Financial Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinio:
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4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, ("Ind AS"), specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued there under and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. Emphasis of Matter We draw attention to Note 5 of the financial results, which describes the fire incident that occurred at the Company’s CHT Unit situated at Phase III of the refinery complex on September 30, 2026. As disclosed in the said note, the fire resulted in damage to a portion of the Property, Plant and Equipment and intermediary stock. The Company has estimated the initial loss at हैं 118.76 Crores (comprising the estimated carrying value of the damaged Property, Plant and Equipment (PPE), corresponding to an estimated replacement value of approximately = 225 crore and losses relating to inventories & other incidental expenses), which has been provided for and disclosed as an exceptional item in the financial results. The final financial impact and insurance claims will be reviewed by the Company and recognized in subsequent reporting periods upon fulfilment of the applicable recognition criteria. Our conclusion is not modified in respect of this matter. For Ram Raj & Co For A Raghavendra Rao & Associates Chartered Accountants Chartered Accountants Firm Registration No.: 02839S Firm Registration No.03324S WY ste|)fe CA K Siva Subramanya Prasad CA G Sathyanarayana © a है! Partner Partner Membership No:024456 Membership No: 205603 UDIN: 26024-4-56WLHDXIBT24-. Upi:26205603UPPNWCE384— Dated: 14-10-2026 3 Dated: 14-10-2026 Place: Bengaluru Place: Bengaluru
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MANGALORE REFINERY AND PETROCHEMICALS LIMITED (A subsidiary of Oil and Natural Gas Corporation Limited - ONGC) CIN: L19200KA1988G01008959 Regd. Office : Mudapaday, Kuthethoor P.O., Via Katipalla, Mangaluru - 575 030, Karnataka STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 (All amounts are in ₹ Crore except per share data) ‘Quarter Ended Half Year Ended Year Ended ane| rem |S 30.03.2026 | 30.06.2026 | 30.09.2025 | 30.09.2026 | 30.09.2025 |31.03.2026| |"Unaudited|Unaudited[Unaudited |Unaudited |Unaudited|Audited| Hi [Revenue from Operations 35,590.40 | 47,608.96 | 25,953.34] 77,199.36 | 46,041.87 | 105,155.49 N_|Other Income 49.51 70.89 61.36 120.40 99.52 198.19 [_t [Total Income (Fi |35,639.91| 41,679.8 26,014.70 | 77.31976 | 47,041.39 |1,05,353.68| | Expenses ICost of Materials Consumed 29,109.27 | 35,242.00 | 20,551.28 | 64,351.27 | 35,726.70 | 78,923.08 Purchases of Stock-in-Trade 5.75 5.37 461 11.12 41.23 20.70 Changes in Inventories of Finished Goods, Stock-in- (921.26) 454.52 (481.45)| (468.74) 720.47 (885.74) Process Excise Duty 3074.16 | 3,354.77] 3,304.37 | 6,428.93 | 6,936.17 | 16,488.00 lEmployee Benefits Expense 179.07 477.44 173.81 356.21 347.93 838.05 Finance Costs 283.85 244.31 219.22 528.16 476.40 907.23 [Depreciation and Amortisation Expense 406.89 401.14 370.97 808.03 734.31 1,519.87 |Other Expenses 864.49 | 1,057.55 912.23 | 1,922.04 | 1,831.42 | 3.535.95 [Total Expenses (IV) 33,002.22 | 40,936.80 |25,055.04| 73,939.02 | 46,484.63 | 1,01,347.14 | | |Profit/ (Loss) before Share of Profit/(Loss) of JointVenture, Exceptional items and Tax (14४) 2,637.69 743.05 959.66 | 3,380.74 तय76 [4006 1० |[Exceptional Items (Incame)/Expenses [nel]Refer nate no. 6) 118.76 (471.76) | - | (353.00) | || -| |vii_|Share of Profit/(Loss) of Joint Venture एज 308 |_ 369 | S073] 500] 8.6| |_vint_|Profit/ (Loss) Before Tax (V-VI+VII) |__2538.80| 1,245.67 |963.35| 3,784.47 561.76 | _4,014.90 | ‘ax Expenses [Refer note no. 7] (4) Current Tax ~Current year 603.38 256.83 97.35 860.21 97.35 705.50 Earlier years = (20.56) - (20.56) - : (2) Deferred Tax 34.66 63.72 238.64 98.38 407.74 4,384.82 |_X_|Net Profit! (Loss) for the period (ViILAX 7900.76 |945.68| 627.36 |2,846.44|356.70|1,924.58| |XI [Other Comprehensive Income Items that will not be reclassified to Profit or Loss: Id) Remeasurement of the Defined Benofit Plans: |छ्शा (3.89) 733) TI 166) 2.90| [Gi) Income Tax relating to above 0.98 oss] 256] 1.56 5.12 10.80 items that will be reclassified to Profit or Los: (60) Effective portion of gains/ (losses) on hedging instruments in cash flow hedges |__ ca]|__aas | 028 (0.31) on 28% fi} Income Tax relating to above [012] _(0.04)| (0.06) 0.08 |(0.18) 0.17) | rotal Comprehensive Iricome for the perlod (XX!) [| 942.88 622.78 | 2,840.40 347.69 Kea | Paid up Equity Share Capital (Face value € 10/- each) | 1722.00 | 1,752.60 | 1,752.60] 1,752.60 | 1,752.60] 1,752.60 [XV JOtherEquityTCTMCTM~—CY. 42,444.21 | [Earnings per Share (EPS) (Face value ofहै 10/- each) (not annualised) ja) Basic (®) 10.85 me5.40 | 3.58 16.24 2.04 10.98 ib) Diluted _(%) 10.85 5.40 3.58 16.24 2.04 10.98.
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MANGALORE REFINERY AND PETROCHEMICALS LIMITED (A subsidiary of Oil and Natural Gas Corporation Limited - ONGC) CIN: L19200KA1988G01008959 Regd. Office : Mudapadav, Kuthethoor P.O., Via Katipalla, Mangaluru - 575 030, Karnataka STATEMENT OF CONSOLIDATED ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2026 {All amounts are in ₹ Crore) छिलाए्णा3__/ै/ै/_॒_॒_॒.../७ ७ ७$ ० | 428 पहह [ASSETSOOOO_ 00358 [37.03.2026| [1 |Non-Current Assots |Unaudited|Audited_| ७)... 2००७७, Plant and Equipment 18,040.03 | 18,669.87 (b) _Right-ol-Use Assets 1,308.39] 1,372.72 Ic) Capital Work-in-Progress 931.46 828.41 (é) Investment Property 7.63 7.63 te) Goodwill 377.28 377.28 0). 008 intangible Assets 2747 23.77 (c) _ Intangible Assets under Development 78.77 68.30 Ih) Investment accounted for using the Equity Method 95.21 44.31 i) Financial Assets (i) Other Investments 5.00 4.90 (i) Loans 227.33 218.70 (iil) Other Financial Assets 145.90 140.33 0) Income Tax Assets (net) 174.64 190.33 (K Othor Non-Current Assets 781.56 790.87 [TotalNon Current Assets()SSCS 20.54| 22,797.82 ["W|CurrentAssets SSCCCCCCCCCCCCCCC—STMY (@) Inventories 16,749.90 | 14,421.56 (bt) Financial Assets Trade Receivables 7,479.89 | 6,058.80 Cash and Cash Equivalents 693.61 564.48 (ii) Bank Balances other than (i) above 85.42 46.11(iv) Loans 32.39) 29.33 (¥) Other Financial Assets 144.32 146.03 o Other Current Assets 188.71 477.40 [Sub-total current assets 25,374.24 | 21,743.44 INon-Current Assets held for Sale i _-] 00 Current Assets (I 25,374.33 | 21,743.41 TOTAL ASSETS (| 47,575.87 | _44,481.23| [EQUITY AND LIABILITIES 30.09.2026 |34.03.2026| [1|Equity TTOCCCCCCSCSCSC*; Unaudited|Audited| (@) Equity Share Capital 1,752.66 | 1,752.66 b) __ 000 Equi 15,285.61 | 12,444.21 TotalEquity() TT /फ#फ््ू# ७ फ# ऊ ..॒. _औ_[_ 17,038.21 14/96.87 ABILITIESTS [1 |Non-Current Liabilities (a) Financial Liabilities (@) Borrowings 8,051.51) 8,504.41 (i) Lease Liabitity 855.82 910.86 (b) Provisions 303.21 286.37 Kc) Deferred Tax Liabifiies (net) 1,246.01] 1,149.58 (0! Other Non Current Liabilities 460.18 417.12 [Total Non Current Liabilities (I [40,916.73|11,268.34| [i |Current Liabilities @) ‘Financial Liabilities () Borrowings 1,193.75 | 5,829.29 (i) Lease Liabitity 102.61 96.46 (ii) Trade Payables Total outstanding dues of micro enterprises and small enterprises 1.02 89.36 “Total outstanding dues of creditors other then micro enterprises and small enterprises 14,799.60 | 10,973.56 (iv) Other Financial Liabilities 943.75 913.94 (b) Other Current Liabilities 4,807.37 669.90 (c) Provisions 328.85 443.51 (0) Current Tax Liabilities (net 449.92 : [Total Current Liabilities (il 19,620.87 |19,016.02| (iV [Total Liabilities (॥+॥ 30,537.60 |30,284.36| [TOTAL EQUITY AND LIABILITIES (I+1V) 47,575.87 | 44,481.23
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MANGALORE REFINERY AND PETROCHEMICALS LIMITED {A subsidiaryof Oil and Natural Gas Corporation Limited - ONGC) CIN: L19200KA1988G01008959 Regd. Office : Mudapadav, Kuthethoor P.O., Via Katipalla, Mangaluru - 575 030, Karnataka CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE HALF YEAR ENDED SEPTEMBER 30, 2026 (All amounts are in ₹ Crore) Half Year Ended |... (७७... ढश। 30.09.2026 | 30.09.2025 Unaudited |Unaudited| [A] CASH FLOW FROM OPERATING ACTIVITIES Profit/ (Loss) After Tax 2,846.44 356.70 Adjustments for : Tax Expense 938.03 205.06 ‘Share of (Profit)/ Loss of Joint Venture (50.73) | (5.00) Depreciation and Amortisation expense 808.03 734.31 Loss/ (Profit) on discard/disposal of Property, Plant and Equipment (net) 158.13 43.90 Excess Liability writen back (10.01) (19.58) Provision / Impairment (net) 388.81 13.37 Write offs 0.14 0.01 Exchange Rate Fluctuation (net) 10.47 197.44 Finance Costs 528.16 476.40 Interest Income (29.08)| (22.53) Dividend Income/ Fair Value Gains (0.64) (0.62) Amortisation of Prepayments 0.34 0.34 Amortisation of Deferred Government Grant (38.12) (40.39)| Others (7.78) 14.66) Movements in Working Capital : - (Increase)/ Decrease in Trade and Other Receivables (1,811.37) 187.25 - (Increase)/ Decrease in Loans (1.08) (14.68) - (Increase)/ Decrease in Other Assets 255.99 32.31 + (Increase)/ Decrease in inventories (2,328.34)] _(648.59)| ~ Increase/ (Decrease) in Trade Payables and Other Liabilities 4,721.86 | _ 2,944.90 Cash generated from Operations 6,379.27 | 4,425.95 Income Taxes paid, net of refunds 370.29) (97.71 Net Cash generated from/ (used in) Operations [1छ| 6,008.98 |3.328.24| |B_| CASH FLOW FROM INVESTING ACTIVITIES Payments for Property, Plant and Equipment and Intangible Asset (440.20)] (753.31) Capital Grants Received 143 0.45 Proceeds from disposal of Property, Plant and Equipment 0.36 0.28 Interest Received 8.86 5.48 Dividend received from Joint Venture : 15.00 Income received from investments in mutual fund & AIF 0.64 0.14 Investments - (0.01) ‘Tax Paid on Interest / Dividend Income. 0.84 1.92 Net Cash generated from / (used in) Investing Activities Te)|429.75)| 1733.89) _ 6 CASH FLOW FROM FINANCING ACTIVITIES Proceeds from Long Term Borrowings 293.03, - Repayments of Long Term Borrowings (907.17) (62.20) Proceeds / (Repayment) from Short Term Borrowings (net) (4,473.35)| (2,445.96) Payment of Lease Rentals (Principal Component) 67.43)| (12.74) Payment of Lease Rentals (Interest Component) (29.26)| (8.88) Finance Costs Paid (275.92, (247.04 Net Cash generated from 7 (used in) Financing Activities Lt)|15,450.10) (2,796.79) Net Increase/ (Decrease) in Cash and Cash Equivalents, [(atbee)| 429.13, 797.56 Cash and Cash Equivalents as at the beginning of the year 064.48 10.10 Cash and Cash Equivalents as at the end of the year 693.61 807.66 Net Change in Cash and Cash Equivalents (Closing - Opening 129.13, 797.56 Oo
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PNAS: MANGALORE REFINERY AND PETROCHEMICALS LIMITED {A subsidiary of Oil and Natural Gas Corporation Limited - ONGC) CIN: L19200KA1988G01008959 Regd. Office : Mudapadav, Kuthethoor P.O., Via Katipalla, Mangaluru - 575 030, Karnataka Notes to Consolidated Financial Results: 1. The Audit Committee has reviewed the above resulls and the same have been subsequently approved by the Board of Directors in their meetings held on October 14, 2026. 2 The financial results of the Company have been prepared in accordance with the recognition and moasuroment principles of Indian Accounting ‘Standards (Ind AS), prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules (as amended) issued thereunder and the other accounting principles generally accepted in India. um 1821. 3. Investment in Joint Venture Company ‘Shell MRPL Aviation Fuels & Services Limited’ is consolidated as per equity method. 4 The financial results have been reviewed by the Joint Statutory Auditors as required under Regulation 33 and 52 of 5681 (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). 5 116 Company operates only in a single segment viz. downstream petroleum sector. As such reporting is done on a single segment basis. 6 During the current quarter, a fire incident occurred at the Coker Hydrotreater (CHT) Unit located in Phase Il of the Refinery Complex. Based on 8 preliminary assessment, the Company has provisionally estimated the financial impact of the incident at %118.76 crore, comprising the estimated carrying value of the damaged Property, Plant and Equipment (PPE), corresponding to an estimated replacement value of approximately ₹ 225 crore and losses relating to inventories & other incidental expenses. The provisionally assessed loss has been presented as an exceptional item in the financial result for the period ended September 30, 2026. The affected assets are adequately insured by the company. The loss recognised will be reviewed and recognised appropriately at subsequent reporting period and would be recognised in the financial statements upon fulfilment of the applicable recognition criteria. Exceptional items reported for the half year includes an additional income (net of expenses) amounting to ® 471.76 crore of previous quarter's due to revision of certain petroleum product prices on the supplies made in the earlier period, besides the provisionally assessed loss of ₹ 118.76 Crores on account of the fire incident, resulting in net Exceptional item(income) of₹ 353.00 Crore. 7 Pursuant to amendments made to Income Tax Act, 2025 vide Finance Act, 2026, the Company has decided to exercise the option for lower tax rate under Section 200 of Income Tax Act, 2025 from Financial Year 2026-27 onwards. Consequently, the effective tax rate applicable to the Company is 25.168% as against earlier tax rate of 34.944% and the Company is allowed to carry forward the accumulated MAT Credit for utilising the same Subject to certain conditions. 8 Ajit venture between the Company, Oil and Natural Gas Corporation Limited (ONGC) and ONGC Petro additions Limited (OPaL), by the name ONGC Petrochemicals Marketing Limited (OPML) has been incorporated on October 7, 2026 for undertaking marketing activities relating to petrochemicals, chemicals and kindred products. The Company holds 25% equity stake in OPML along with ONGC holding 50% and 029. holding 25%. Transactions between OPML and the Company are expected to commence shortly. 9 The Board of Directors in its meeting held on October 14, 2026 has declared the first interim dividend of ₹ 3 per equity share (30%). 10 Additional disclosures as per Regulation 52(4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015: ‘Quarter Ended Half Year Ended | Yoar Ended JawNo. Particulars | wo | 30.09.2026 | 30.06.2026 | 30.09.2025 | 30.09.2026 | 30.09.2025 | 37.03.2026 | Unaudited || Unaudited || Unaudited || Unaudited | Unaudited Audited [_1_ [Debt Equity Ratio No. oftimes 054 076 ore} 0.54] 0.79 1.01 | 2 [Capital Redemption Reserve |incrore|9.19 9.19] 9.19] eta] 919 __ 9.9 [3 |NetWorh«YR in crore. 47,088.27| 15,140.51] _18,817.95| 17,038.27 18,317.95] _14,166.87| |4 |Profit/ (Loss) after tax Zin crore 1,900.76 945.68] 627.36| 2,846.44 356.70] 1,924.58] | 5 [Total Borrowings Zin crore 9,245.26] 11,562.56] 10,552.33] 9,245.26) 10,552.33} 14,333.70} [* |Debt Service Coverage Ratio | > ov times 1.89]| ««|a 2.75 0.61 yo (OSCR) : Not Annualised 7 interest Service Coverage Ratio | No. oftfimes a 774 7.09 970 a7 7.10} (SCR) | 8 |Current Ratio No.cftimes |____1.20) 1.31] 7.02 72a] 1.03) 114 [» | Long Term Debt to Working | He tines |of times =[2 5.68 | 5.68]| 2 Capital 70 [Bad Debts to Account s| | ||| ||||Recoivable Ratio: | ५०००० |oftimes Not Annualised |44 |Current Liability Ratio No. of times छा |;) =] 5586०0.63| [12 [Total Debis to Total Assets No. oftimes o.19f 020] 030 o.1gf 0.30] 0.32) | * | Debtors Turnover : i |. | 7.10} क्या ; 1.40} 13.73} 21.97] Not Annualised No.of tenes = inventory Tumover : oie 257 3.28 327 [|| 349 Not Annualised हे 45 _ [Operating Margin [| Cy a) a 7) a KT) [16_ [Net Profit Margin 1 % | 5e4|29] 277 4.03 0.89 2.17 17 |Eamings Per Share = |Basio@®|10.86] 540] 16.24] 2.04] 70.98 Not Annualised [Dituted@ |_10as[ 540[ 35a] i624] 2.04 40.98] Allfigures are presented to the nearest two decimals. x
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MANGALORE REFINERY AND PETROCHEMICALS LIMITED (A subsidiary of Oil and Natural Gas Corporation Limited - ONGC) CIN: L19200KA1988G01008959 Regd. Office : Mudapaday, Kuthethoor P.O., Via Katipalla, Mangaluru - 575 030, Karné [The basis of computation of above parameters (wherever required) is provided in the table below: [Debt Equity Ratio [Total Debt/ Shareholder's Equity INet Worth [Equity Sharo Capital + Other Equi [Debt Service Coverage Ratio (Net Profit after Taxes + Depreciation + Finance Cost * other adjustments like Loss on| Discard / Disposal of PPE + not Provisions and Write offs) / (Finance Cost + Current Borrowings) Interest Service Coverage Ratio EBITDA/ (interest & Finance Charges net of amount transforred to expenditure during| lconstruction) [Current Ratio |Current Assets/ Current Liabilities. Long Term Debt to Working Capital Long Term Debt (including current maturities of long term debls)(Current Assets - |Current Liabilities excluding current maturities of tong term debts) [Bad Debts to Account Receivable Ratio [Bad Debts / Accounts Receivable [Current Liability Ratio |Current Liabilities / Total Liabilities [Total Debts to Total Assets (Long Term Debt + Short Term Debt)/ Total Assets Debtors Turnover [Sales / Average Trade Recaivable Inventory Tumover [Sales / Average Inventor |Operating Margin |(Profit before Exceptional Item and Tax + Finance Cost - Other income)/ Revenue from |Operations net of Excise Duly on Sale of Goods Net Profit Margin Profit after Tax for the Period / Revenue from Operations Net of Excise Duty on Sale of |Goods 11. Figures for the previous periods have been re-grouped wherever necessary. 12 The Company has assessed all the possible effects that may result from ongoing geo-political conditions. As per the assessment, these are not having significant effect on the carrying amounts of Property, Plant and Equipment, Inventories, Receivables & Other Current Assets and their recoverability. 13 The above results are available on the websites of NSE and BSE at www.nsoindia.com and www.bseindia.com respectively and on the Company's website at www.mrpl.co.in. Place : Bengaluru Date : 14/10/2026 As per our report of even date attached. For RAM RAJ & CO ‘Chartered Accountants Firm Registration No. : 002839S CA. K SIVA SUBRAMANYA PRASAD *.. Partner Membership No, 024456 Place : Bengaluru Date : 14/10/2026 Cd DEVENDRA KUMAR Director (Finance) DIN: 11000531 For A RAGHAVENDRA RAO & ASSOCIATES Chartered Accountants Firm Registration No. : rc] | Le in|/2] / CA. ७ SATHYANARAYANA, है Partner Membership No. 205603 Place : Bengaluru Date : 14/10/2026
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RAM RAJ & CO A RAGHAVENDRA RAO & ASSOCIATES CHARTERED ACCOUNTANTS, CHARTERED ACCOUNTANTS, No.65, 4० FLOOR, 29% A CROSS No.13-7-849, GEETHA COLONY, IV BLOCK, GHS ROAD, JAYANAGAR, BENGALURU-560011 MANGALURU 575001 Mob No.: 9845096215 Mob: 9900415355 E-Mail: auditramraj@gmail.com E-Mail: arrcagaudits@gmail.com Independent Auditor's Limited Review Report on the Unaudited Consolidated Financial Results of MANGALORE REFINERY AND PETROCHEMICALS LIMITED ("the company") for the Quarter and Half Year ended September 30, 2026 pursuant to the Regulation 33 and 52 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended. To, The Board of Directors of MANGALORE REFINERY AND PETROCHEMICALS LIMITED We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of MANGALORE REFINERY AND PETROCHEMICALS LIMITED ("the company") and its share of the net profit after tax and total comprehensive income of its jointly controlled entity, Shell MRPL Aviation Fuels and Services Limited, for the quarter and half year ended 30th September, 2026 ("the statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended ("the Listing Regulations"). This statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, ("Ind AS 34"), "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued there under and other accounting principles generally accepted in India and in compliance with Regulations 33 and 52 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. We have conducted the review of the Financial Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less
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RAM RAJ & CO A RAGHAVENDRA RAO & ASSOCIATES CHARTERED ACCOUNTANTS, CHARTERED ACCOUNTANTS, No.65, 47 FLOOR, 297 A CROSS No.13-7-849, GEETHA COLONY, IV BLOCK, GHS ROAD, JAYANAGAR, BENGALURU-560011 MANGALURU 575001 Mob No.: 9845096215 Mob: 9900415355, E-Mail: auditramraj@gmail.com E-Mail: arrcagaudits@gmail.com assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable. The statement includes the results of Shell MRPL Aviation Fuels and Services Limited, a jointly controlled entity. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, ("Ind AS"), specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued there under and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. Emphasis of Matter We draw attention to Note 6 of the financial results, which describes the fire incident that occurred at the Company’s CHT Unit situated at Phase III of the refinery complex on September 30, 2026. As disclosed in the said note, the fire resulted in damage to a portion of the Property, Plant and Equipment and intermediary stock. The Company has estimated the initial loss at X 118.76 Crores (comprising the estimated carrying value of the damaged Property, Plant and Equipment (PPE), corresponding to an estimated replacement value of approximately % 225 crore and losses relating to inventories & other incidental expenses), which has been provided for and disclosed as an exceptional item in the financial results. The final financial impact and insurance claims will be reviewed by the Company and recognized in subsequent reporting periods upon fulfilment of the applicable recognition criteria. Our conclusion js not modified in respect of this matter. Ne ba
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RAM RAJ & CO A RAGHAVENDRA RAO & ASSOCIATES CHARTERED ACCOUNTANTS, CHARTERED ACCOUNTANTS, No.65, 40 FLOOR, 297 A CROSS No.13-7-849, GEETHA COLONY, IV BLOCK, GHS ROAD, MANGALURU 575001 Mob: 9900415355, E-Mail: arrcagaudits@gmail.com JAYANAGAR, BENGALURU-560011 Mob No.: 9845096215 E-Mail: auditramraj@gmail.com Other Matters The unaudited consolidated financial results include the company’s share of net profit after tax of = 19.87 crore and ₹ 50.73 crore and total comprehensive income of % 19.53 crore and % 50.50 crore for the quarter and half year ended September 30, 2026, respectively, in respect of the joint venture company as considered in the unaudited consolidated financial results, which have not been reviewed by us. These interim financial results have been reviewed by other auditor, whose report has been furnished to us by the management and our conclusion on the statement, in so far as it relates to the amounts and disclosures in respect of this jointly controlled entity is based on the report of the other auditor and also the procedures performed by us as stated in paragraph 3 above. Our conclusion on the statement is not modified in respect of the above matter. For Ram Raj & Co Chartered Accountants Firm Registration No.: 028395 % नम, For A Raghavendra Rao & Associates Chartered Accountants Firm Registration No.03324S CA K Siva Subramanya Prasad Partner Membership No: 024456 7 UDIN: 26024456 TILHEDS185 Dated: 14-10-2026“ Place: Bengaluru { CA G Sathyanarayana Partner Membership No: 205603 UDIN:2 6205603 PCMWAB3L02 Dated: 14-10-2026 Place: Bengaluru
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