Photo Courtesy: nenow
Guwahati: Numaligarh Refinery Ltd (NRL) posted a major financial win for the 2025-26 fiscal year. Standalone net worth jumped 17.69 percent to reach Rs 18,912 crore. Profit after tax surged by more than 90 percent over the previous year. Chairman Ranjit Rath confirmed these results on September 11 following the company 33rd Annual General Meeting. Operational revenue climbed to Rs 26,393 crore from Rs 25,147 crore.
Earnings per share hit Rs 17.52, up from Rs 9.82. The refinery processed 3,113 thousand metric tonnes (TMT) of crude, running at 103 percent capacity. Total sales hit 3,200 TMT. Motor Spirit production reached a record 727 TMT, while sulphur recovery hit 6.3 TMT. Rath credited these gains to better product margins and higher sales volume. The government elevated the company to Navratna status on December 3, 2025.
The flagship Numaligarh Refinery Expansion Project (NREP) remains the primary focus. Physical progress stands at 87.1 percent. The expansion aims to boost crude processing capacity from 3 million tonnes per annum (MTPA) to 9 MTPA. It includes a 1,398-km pipeline from Paradip to Numaligarh and a 654-km line to Siliguri. Expansion of the Siliguri Marketing Terminal will support this increase. Rath stated, "NRL continues to focus on sustainable growth, innovation and strengthening India’s energy security."
Management confirmed that work on a proposed polypropylene unit will wait until the NREP expansion is complete. Progress on the bamboo-based bio-ethanol plant remains stalled. Commercial production has not started, and bamboo procurement is currently halted. Originally budgeted at Rs 800 crore, the bio-refinery costs have ballooned to an estimated Rs 5,000 crore. The joint venture project involving Finland-based Fortum and Chempolis Oy has yet to meet required technical benchmarks.
The company maintains its Ideation programme to fund start-ups and drive new technology. Rath believes these efforts help build a stronger local ecosystem. Efforts to finish the NREP project continue as NRL moves to consolidate its position in the energy sector.
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