Why MRPL Share Price is Rising

# Clarity on Crude Sourcing

Shares of Mangalore Refinery and Petrochemical Ltd (MRPL) bounced back sharply, climbing as much as 9% on Wednesday after a three-day losing streak.

The rebound comes as investors react to clarity on the company's crude sourcing strategy amid global sanctions.

According to an Economic Times report, the recent decline in MRPL's stock was driven by concerns over Russian crude imports. Company executives, however, moved quickly to reassure investors. The state-run refiner has completely stopped importing Russian crude to remain compliant with international sanctions and is now considering Venezuelan crude as an alternative Devendra Kumar, the company's head of finance, stated during an analyst call that MRPL is fully aligned with global regulations, confirming that no Russian crude is currently being imported.

MRPL runs a 500,000-barrel-per-day refinery in Karnataka and exports about 40% of its fuel output.

This can be the main reason for the share price to jump.

What Next?

Moving forward, MRPL aims to capitalise on the growing demand for petrol and diesel while exploring green hydrogen projects, reflecting confidence in maintaining profitability.

The Karnataka government has also approved the purchase of 1,050 acres for MRPL's future projects.

To boost its profits, MRPL has turned its focus to direct retail sales instead of selling refined fuels to other refiners.

According to the Moneycontrol report, Devendra Kumar, the company's head of finance, mentioned that the company plans to grow its retail fuel network from 200 outlets to 500 in the next three years and aims to operate 1,000 fuel stations within five years.

How MRPL Shares Have Performed Recently

The stock dropped 2% over the last five sessions, before jumping 9% today.

The stock touched its 52-week high of Rs 185 on 17 November 2025 and its 52-week low of Rs 98.95 on 3 March 2025.

About MRPL

MRPL is a Miniratna Central Public Sector Enterprise under the Ministry of Petroleum & Natural Gas, and a subsidiary of ONGC.

The company is engaged in the business of refining crude oil. It's a subsidiary of ONGC, which holds 71.6% of the equity shares. It operates a 15 million metric tonnes per annum (MMTPA) refinery located in Mangalore, Karnataka.

The company is known for its complex processing capability and high flexibility to handle various crude oils, including heavy and high API gravity crudes.

MRPL produces a range of petroleum products such as high-speed diesel, petrol, aviation turbine fuel, and has forward integrated into petrochemicals following its merger with ONGC Mangalore Petrochemicals.

MRPL benefits from ONGC's majority ownership for financial support and is adapting to changing market dynamics with a growing focus on petrochemicals, sustainability, and operational efficiency.

To know more, check MRPL's fact sheet and latest quarterly results. You can also compare MRPL with its peers on our website.

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Investors should evaluate the company's fundamentals, corporate governance, and valuations of the stock as key factors when conducting due diligence before making investment decisions.

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