MRPL has a design capacity to process 15 million metric tonnes per annum and is the only refinery in India to have two hydrocrackers producing premium diesel (high cetane).

[7] Before its acquisition by ONGC in March 2003, MRPL was a joint venture oil refinery promoted by HPCL, a public sector company and IRIL & associates (AV Birla Group).

[5] The refinery was conceived to maximise middle distillates, with the capability to process light to heavy and sour to sweet crudes with 24 to 46 API gravity.

Birla Group's stake and further infused equity capital of ₹600 crores making MRPL a majority-held subsidiary of ONGC.

[7][5] The lenders also agreed to the debt restructuring package (DRP) proposed by ONGC, which included, inter alia, conversion of up to ₹3,65,54,884 of the company's loans into equity.