NRL Reports Strong Q2FY26 Results; Standalone PAT Jumps Over Four Times to Rs.724.83 Crore

New Delhi, November 13, 2025: Numaligarh Refinery Limited (NRL), a subsidiary of Oil India Limited, has recorded an exceptional financial performance for the second quarter and half year ended 30 September 2025. The company announced its results during a Board Meeting held in Noida, reporting robust profitability driven by improved refining economics, enhanced plant reliability, and disciplined fiscal management.

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NRL’s Standalone Profit After Tax (PAT) for Q2FY26 surged to ₹724.83 crore, marking a four-fold jump compared to ₹175.04 crore in the same quarter last year. The company’s Earnings Per Share (EPS) also improved significantly to ₹4.61, as against ₹1.13 in Q2FY25.

For the half-year period (H1FY26), NRL posted a strong PAT of ₹1,213.06 crore, nearly doubling the ₹605.58 crore achieved in H1FY25. EPS for H1FY26 stood at ₹7.62, up from ₹3.91 in the previous year, highlighting the company’s consistent financial strength.

NRL’s refining performance also showed notable improvement. The company recorded an average Gross Refining Margin (GRM) of USD 7.73 per barrel during H1FY26, significantly higher than USD 4.45 per barrel in April–September 2024. The company’s Non-Convertible Debentures (NCDs) issue also received an overwhelming response with subscription exceeding 12 times, helping raise ₹2,500 crore at competitive pricing.

Operational performance remained strong as NRL advanced several strategic initiatives, including:

• Refinery Expansion Project to 9 MMTPA

• Paradip–Numaligarh Crude Oil Pipeline (PNCPL)

• 360 KTPA Polypropylene Unit

A key milestone for the quarter was the commissioning of the 2G Ethanol Plant under NRL’s joint venture, Assam Bio Ethanol Pvt. Ltd. (ABePL). The plant was inaugurated by Hon’ble Prime Minister Shri Narendra Modi on 14 September, marking a major step in India’s clean energy and biofuel transition.

 

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During Q2FY26, NRL processed 752.87 TMT of crude oil, achieving more than 100% capacity utilisation, compared to 683.42 TMT in Q2FY25. For H1FY26, total crude throughput reached 1,552.19 TMT, higher than 1,447.53 TMT in the previous year—reflecting improved operational reliability and steady unit availability.

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