Nature of the Disclosure

Key Quantitative Figures (Consolidated for Q1 FY27)

  • Revenue from Operations: ₹41,608.96 crore
  • Other Income: ₹70.89 crore
  • Total Income: ₹41,679.85 crore
  • Profit Before Tax (PBT): ₹1,245.67 crore
  • Net Profit: ₹945.68 crore
  • Earnings Per Share (EPS) (Basic & Diluted): ₹5.22
  • Exceptional Item (Income): ₹471.76 crore (net impact from revision of petroleum product prices on previous period supplies)
  • Share of Profit from Joint Venture: ₹30.86 crore (Shell MRPL Aviation Fuels & Services Limited)
  • Tax Expense: ₹300.15 crore (Current Tax: ₹236.27 crore; Deferred Tax: ₹63.72 crore)
  • Effective Tax Rate: 25.168% (due to opting for lower tax rate under Section 200 of Income Tax Act, 2025)

Key Quantitative Figures (Standalone for Q1 FY27)

  • Revenue from Operations: ₹41,608.96 crore
  • Net Profit: ₹914.82 crore
  • Earnings Per Share (EPS) (Basic & Diluted): ₹5.22

Dates of Action

  • Board Meeting Date: July 15, 2026 (commenced at 16:00 hrs, concluded at 18:25 hrs)
  • Quarter Ended: June 30, 2026

Parties or Entities Involved

  • Regulators: SEBI, BSE Limited, National Stock Exchange of India Limited
  • Parent Company: Oil and Natural Gas Corporation Limited (ONGC)
  • Joint Venture: Shell MRPL Aviation Fuels & Services Limited
  • New Internal Auditor: Shri Sanjib Kumar Mandal, Chief General Manager (Finance)
  • Previous Internal Auditor: Shri M. H. Shantharam, Chief General Manager (Finance)
  • New Cost Auditor: M/s Bandyopadhyaya Bhaumik & Co., Cost Accountants, Kolkata
  • Statutory Auditors: YCRJ & Associates (Firm Reg. No. 006927S) and BSJ & Associates (Firm Reg. No. 010560S)
  • Company Secretary: Premachandra Rao G
  • Director (Finance): Devendra Kumar (DIN: 11000531)

Purpose or Stated Rationale

  • The change in Internal Auditor is due to an internal transfer.
  • The appointment of the Cost Auditor is for the Financial Year 2026-27.
  • The amendment to the Memorandum of Association (MOA) and Articles of Association (AOA) is to align them with the Companies Act, 2013.
  • The option for a lower tax rate was exercised pursuant to amendments made to the Income Tax Act, 2025 vide the Finance Act, 2026.

Financial and Operational Impact

  • The exceptional item of ₹471.76 crore (income) had a material positive impact on the quarterly profit.
  • The change in tax rate to 25.168% reduces future tax liabilities. The Company is allowed to carry forward accumulated MAT credit for utilization subject to certain conditions.
  • The Company operates in a single segment: downstream petroleum sector.

Capital Structure Impact

  • The issued, subscribed, and paid-up equity share capital remains unchanged at ₹1,752.60 crore (face value ₹10 per share).
  • No dilution or change in share capital was reported.

Governance Update

  • The Board currently does not have the requisite number of Independent Directors as required by Regulation 17(1) of SEBI (LODR), the Companies Act, 2013, and DPE guidelines, following the completion of their tenure on March 27, 2026. Consequently, the functions of the Audit Committee are being carried out by the Board itself. The Company is regularly requesting the Administrative Ministry for new appointments.
  • The Comptroller and Auditor General of India (C&AG) completed its supplementary audit for FY26 and reported no significant comments on the Statutory Auditors' report.

Additional Disclosures (Regulation 52(4))

Key consolidated ratios for Q1 FY27 include:

  • Debt Equity Ratio: (0.76) times
  • Net Worth: ₹15,140.51 crore
  • Total Borrowings: ₹11,562.56 crore
  • Interest Service Coverage Ratio (ISCR): 7.74 times
  • Current Ratio: 1.31 times
  • Operating Margin: 5.76%
  • Net Profit Margin: 2.48%

Forward-Looking Statements

Management commentary or forward-looking guidance was not explicitly stated in the document.