The fire accident at Mangalore Refinery and Petrochemicals Ltd (MRPL) near Mangaluru has caused estimated damage of ₹118.76 crore, while restoring the affected assets, production unit and machinery could cost about ₹225 crore, according to a company filing to the stock exchanges.
The incident occurred on September 30 at the Coker Hydrotreater Unit (CHTU) in Phase III of the refinery complex. MRPL disclosed the damage estimate after a board meeting held on Wednesday. The assessment covers damage to property, the production unit and equipment affected in the incident.
The company said all the damaged components were insured. The filing described the event as a fire accident. Earlier reports had referred to an explosion at the CHTU, but the disclosure cited in the report did not use that description.
The incident involves one of the key process units within MRPL’s refinery complex on the outskirts of Mangaluru. The company’s disclosure provides the first reported financial estimate of the physical damage and the likely cost of restoring the affected facilities. It does not specify a restoration schedule or indicate when the unit will return to normal operations.
MRPL also reported revenue of ₹1,881 crore for the second quarter of the current financial year, compared with ₹639 crore in the corresponding period last year. The company said this represented a 194% increase. Revenue for the first six months of the financial year reached ₹2,796 crore, according to the report.
The board approved the company’s half-yearly financial statements at the meeting. Income from operations during the six-month period stood at ₹35,590 crore, including ₹6,327 crore from exports. The comparable figure for the previous year was ₹25,953 crore.
MRPL’s total production during the period was 4.18 million tonnes, lower than the 4.43 million tonnes recorded in the corresponding period previously. The company’s financial and production disclosures come as it assesses the physical damage caused by the fire and the work required to restore the affected parts of the refinery.
The company has not stated in the reported filing how much of the estimated restoration cost will be recovered through insurance or provided a detailed timeline for repairs. Further updates are expected through its stock-exchange disclosures and subsequent operational reports.
