MRPL’s shares slipped more than 7% on Thursday, even after a Q2 earnings release that saw EBITDA surge to ₹3,278 crore, a 149% jump from the ₹1,318 crore reported in the June quarter.
Revenue, however, slipped 15% sequentially to ₹32,516 crore from ₹38,255 crore in Q1, reflecting a dip in product cracks.
Profit after tax climbed 106% to ₹1,881 crore, while the operating margin widened to 10% from 3%, a seven‑percentage‑point leap.
The board declared a ₹3 per share interim dividend on fully paid equity, with a record date of October 21, 2026 and payment scheduled for November 4, 2026.
Despite the upward earnings trajectory, investors appeared cautious, selling on the upside and pushing the stock down to ₹173.55, erasing part of its 12% YTD gain.
MRPL’s management hinted that the company will continue to focus on improving margins, but no new guidance was released ahead of the May 2027 quarter.