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Retained earnings is the accumulated portion of net income that is not distributed to shareholders. National Refinery's retained earnings for the quarter that ended in Mar. 2026 was ₨-29,172 Mil.
National Refinery's quarterly retained earnings
increased
from Sep. 2025 (₨-37,214 Mil) to Dec. 2025 (₨-36,474 Mil) and
increased
from Dec. 2025 (₨-36,474 Mil) to Mar. 2026 (₨-29,172 Mil).
National Refinery's annual retained earnings
declined
from Jun. 2023 (₨-7,823 Mil) to Jun. 2024 (₨-23,205 Mil) and
declined
from Jun. 2024 (₨-23,205 Mil) to Jun. 2025 (₨-38,239 Mil).
National Refinery (KAR:NRL) Retained Earnings Explanation
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
National Refinery Retained Earnings Historical Data
* Premium members only.
The historical data trend for National Refinery's Retained Earnings can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
What does a Retained Earnings of ₨-29,172 Mil mean?
National Refinery (KAR:NRL) has a Retained Earnings of ₨-29,172 Mil as of Mar. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on National Refinery and its competitors.
Is National Refinery's Retained Earnings too high?
National Refinery's current Retained Earnings is ₨-29,172 Mil. Overall, National Refinery has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Refinery's Retained Earnings compare to MPC and VLO?
National Refinery's Retained Earnings of ₨-29,172 Mil can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for an Oil & Gas company?
A good Retained Earnings depends on the Oil & Gas industry context. However, Retained Earnings should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on National Refinery and its competitors. National Refinery's current Retained Earnings is ₨-29,172 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Refinery stock overvalued right now?
Based on GuruFocus' analysis, National Refinery (KAR:NRL) is currently considered Significantly Overvalued. The stock's GF Value™ is ₨333.11, compared to a current price of ₨442.76 — trading 32.9% above its estimated fair value. The current Retained Earnings is ₨-29,172 Mil. National Refinery's overall GF Score™ is 69/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For National Refinery (KAR:NRL), the current Retained Earnings is ₨-29,172 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is National Refinery (KAR:NRL) Overvalued in 2026?
Based on GuruFocus' analysis, National Refinery stock appears to be overvalued.
The current stock price of ₨442.76 is trading 32.9% above its estimated GF Value™ of ₨333.11.
GuruFocus considers National Refinery to be Significantly Overvalued.
Key valuation signals for KAR:NRL:
Retained Earnings: ₨-29,172 Mil
GF Value™: ₨333.11 vs. price of ₨442.76 (32.9% above fair value)
No single metric tells the full story. See the KAR:NRL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Refinery Ltd is a Pakistan-based company engaged in manufacturing and supplying fuel products, lubes, BTX, asphalts and specialty products for domestic consumption and export. It is also involved in the crude oil refining business. The company operates through two segments namely Fuel and Lube. The Fuel segment, which is the key revenue driver, is engaged in the production of high-speed diesel, naphtha, motor gasoline, liquefied petroleum gas, jet fuels, and furnace oil. The Lube segment produces multiple grades of lube base oils, bitumen, waxes and rubber process oil and some quantities of other fuel products. It derives maximum revenue from Fuel Segment.
69GF Score
Get the complete analysis for KAR:NRL
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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