Margarula (foaled 15 March 1999) is an Irish Thoroughbred racehorse and broodmare. In her first eleven races she showed herself to be a tough and consistent stayer, winning three handicap races, but appeared to be some way below top class. On her twelfth start however, she produced a major upset when she defeated a field of highly regarded fillies to win the Irish Oaks at odds of 33/1. Margarula finished sixth in her two subsequent races and was retired at the end of the season. She had some success as a broodmare, producing the Sydney Cup winner Grand Marshal.