Chennai Petroleum vs MRPL: Which PSU refinery stock wins on Q2 profit, revenue, dividends? Experts weigh in on outlook
Chennai Petroleum vs MRPL: Chennai Petroleum Corporation Limited and Mangalore Refinery and Petrochemicals Limited (MRPL) are among top refinery Public Sector Undertaking (PSUs) that have recently announced second quarter results for the financial year 2026-27.
While Chennai Petro reported a 212% yearly jump in net profit, MRPL’s Q2 profit more than tripled on an annual basis. Both the PSU stocks have also declared dividend for FY27. For investors who closely track development around PSU stocks, here are all the details to know.
The Tamil Nadu-headquartered oil refining company reported a 212% year-on-year jump in its consolidated net profit for the period to ₹2247.03 crore in Q2FY27 against ₹719.19 crore reported in the year ago period.
Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of Oil and Natural Gas Corporation (ONGC), posted a nearly threefold annual jump in its standalone net profit to ₹1,881 crore in the second quarter of FY27, compared with ₹639 crore in the corresponding quarter last year.
Its net consolidated revenue from operations surged to ₹22,055 crore in Q2FY27 against ₹20,033 reported in the corresponding quarter. Chennai Petroleum Corporation Limited’s net revenue stood at ₹29,358 crore reported in the first quarter of financial year 2026-27.
MRPL’s revenue from operations surged 37% on an annual basis to ₹35,590 crore in Q2 FY27 from ₹25,953 crore in Q2 FY26.
Chennai Petro has announced an interim dividend of ₹25 per equity share, representing a 250% payout on the stock’s face value of ₹10 per share. The board has also announced a record date to determine the eligibility of shareholders for the payout.
MRPL’s board of directors approved the first interim dividend of ₹3 per equity share, representing 30% of the face value of each share.
The September quarter of FY27 was an exceptional quarter for standalone refiners, like Chennai Petro and MRPL, seeing multifold surge in net profit.
“Growth levers are taking shape, with CPCL studying a Manali expansion to 2.8 lakh bpd and a petrochemical-heavy Cauvery Basin project, and MRPL scaling retail towards 1,000 outlets. We expect GRMs to moderate as diesel cracks normalise, making utilisation and timely project execution the key earnings drivers going ahead,” explained Nitant Darekar Research Analyst at Bonanza.
MRPL share price is trading within a broader symmetrical triangle pattern, which indicates consolidation, the PSU stock is currently below its key moving averages, highlighted Virat Jagad Sr. Technical Research Analyst at Bonanza.
“The RSI is at 41.24, below the 50 mark, indicating bearish momentum. Support is placed at ₹145, while resistance is at ₹190,” added Jagad.
For Chennai Petroleum Corporation, Virat Jagad highlighted a positive trend structure in the PSU stock momentum.
“The RSI is above the 50 mark, suggesting bullish momentum. Resistance is placed at ₹1,573, while support is at ₹1,337. A sustained breakout above ₹1,573 could signal further upside, while a decline below ₹1,337 may weaken the technical outlook,” the expert added.
Chennai Petroleum Corporation share price closed 1.65% higher at ₹1478.10 per share on BSE with a market capitalisation of ₹22,010.59 crore. Its share price value has surged nearly 97.99% in one year, 183.95% in three years and around 1,034.38 % in five years.
Mangalore Refinery and Petrochemicals Limited share price has ended 2.67% lower at ₹162.35 per share on BSE on Friday. Its share price value has closed 5.63% in 2026 so far, 11.24% in one year, and around 69% in three years.
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HomeMarketsStock MarketsChennai Petroleum vs MRPL: Which PSU refinery stock wins on Q2 profit, revenue, dividends? Experts weigh in on outlook
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