Sharescart Research Club logo

Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹16942 Cr.
Stock P/E
79.1
P/B
1.5
Current Price
₹1137.7
Book Value
₹ 746
Face Value
10
52W High
₹1249
52W Low
₹ 603.3
Dividend Yield
4.75%

Chennai Petrol. Corp Overview

Business

Chennai Petroleum Corporation Ltd. (CPCL) is a leading refiner of petroleum products in India. Its core business involves procuring crude oil, processing it in its refineries, and producing various refined petroleum products. These products include Liquefied Petroleum Gas (LPG), naphtha, gasoline (petrol), diesel, aviation turbine fuel (ATF), kerosene, fuel oil, bitumen, lube base stocks, paraffin wax, and petrochemical feedstocks. CPCL makes money primarily through the Gross Refining Margin (GRM), which is the difference between the aggregate value of petroleum products produced and the cost of crude oil processed. The company also generates revenue from value-added products and by-products.

Revenue Mix

As a company operating in the "Refineries" sector, CPCL's primary business segment is the refining of crude oil. Therefore, virtually all its revenue is derived from the sale of refined petroleum products. The revenue mix is determined by the output slate of its refineries, which typically includes a significant portion of transportation fuels (diesel, gasoline), followed by LPG, kerosene, ATF, fuel oil, and other specialized products. Specific percentage contributions for each product type are not typically segmented out publicly but vary based on market demand and refinery configurations.

Industry

The Indian refining industry is highly capital-intensive and characterized by a mix of public sector undertakings (PSUs) and private players. It is a strategically important sector for India's energy security. CPCL operates two refineries: one in Manali, Chennai (10.5 Million Metric Tonnes Per Annum - MMTPA) and another undergoing expansion/reconstruction in Nagapattinam (proposed 9 MMTPA). CPCL is a subsidiary of IndianOil Corporation Ltd. (IOCL), which is India's largest refiner and marketer of petroleum products. This parentage provides CPCL with significant advantages in crude sourcing, product marketing, and operational synergies within the larger IOCL ecosystem, positioning it as an important regional player, particularly in South India.

MOAT

CPCL's primary competitive advantages stem from:

Integration with IOCL: Being a subsidiary of IndianOil Corporation provides access to IOCL's extensive crude procurement network, established marketing and distribution channels, and financial backing. This offers operational stability and market access for its products.

Established Infrastructure: CPCL operates well-established refining assets in strategic locations in South India, which have undergone modernization and expansion over time.

Scale of Operations (through IOCL): While CPCL itself isn't the largest independent refiner, its capacity contributes to the overall scale of the IOCL group, benefiting from shared resources and expertise.

Logistical Advantages: Location of its refineries offers proximity to end markets in Southern India and port facilities for crude imports and product exports.

Growth Drivers

India's Energy Demand Growth: Continued economic growth and urbanization in India are expected to drive robust demand for petroleum products, especially transportation fuels and petrochemicals.

Nagapattinam Refinery Project: The planned 9 MMTPA refinery at Nagapattinam, which will replace the existing smaller facility, is a significant growth driver. This project will substantially increase CPCL's refining capacity and is designed to improve product slate and GRMs.

Diversification into Petrochemicals: Focus on producing higher-value petrochemical feedstocks from its refining process to capture better margins and diversify the product mix.

Technological Upgrades and Efficiency: Continuous modernization of existing units and adoption of advanced technologies to improve energy efficiency, reduce costs, and enhance product quality.

Risks

Crude Oil Price Volatility: Fluctuations in global crude oil prices directly impact CPCL's Gross Refining Margins (GRMs) and inventory valuations, leading to earnings volatility.

Regulatory and Policy Changes: The refining sector is subject to government policies on fuel pricing, taxes, and environmental regulations, which can significantly affect profitability.

Project Execution Risk: The large-scale Nagapattinam refinery project is subject to risks of delays, cost overruns, and commissioning challenges, impacting future growth timelines and financial health.

Environmental Regulations: Increasing global and domestic pressure for stricter emission norms and a transition to cleaner energy sources could necessitate significant capital expenditure for compliance or impact demand for conventional fuels in the long term.

Intense Competition: Competition from other domestic private and public sector refiners, as well as imports, can put pressure on margins.

Currency Fluctuations: As crude oil is imported, changes in the Indian Rupee-US Dollar exchange rate can impact the cost of raw materials.

Management & Ownership

Chennai Petroleum Corporation Ltd. is primarily promoted and majority-owned by IndianOil Corporation Ltd. (IOCL), which holds a controlling stake. Other significant shareholders include the Government of India (through various entities) and institutional investors. The management team comprises experienced professionals, often with a background in the public sector refining industry, with oversight from a Board of Directors that includes nominees from IOCL and government representatives, ensuring strategic alignment with national energy objectives.

Outlook

CPCL is positioned to benefit from India's sustained demand for petroleum products, driven by economic expansion. The successful commissioning and ramp-up of the new Nagapattinam refinery will be a pivotal factor for its future growth, significantly enhancing capacity and potentially improving profitability through a more advanced processing configuration. However, the company operates in a highly cyclical industry susceptible to volatile crude oil prices and fluctuating Gross Refining Margins. Regulatory changes, environmental pressures, and the ongoing energy transition pose long-term challenges. While its strong parentage (IOCL) provides stability and strategic advantages, CPCL's performance remains sensitive to global commodity market dynamics and the efficient execution of its expansion projects.

Chennai Petrol. Corp Share Price

Live · BSE / NSE · Inception: 1965
| |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Chennai Petrol. Corp Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 20454 20823 20361 14425 15683 20581 18683 20034 19438 20455
Other Income 2 3 4 4 4 12 9 6 29 21
Total Income 20456 20826 20365 14429 15688 20593 18693 20040 19467 20476
Total Expenditure 19774 19781 19698 15099 15441 19796 18585 18889 17960 18419
Operating Profit 682 1045 668 -670 246 797 108 1151 1507 2057
Interest 50 51 48 52 79 66 37 34 33 16
Depreciation 151 151 150 153 153 150 151 152 157 150
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 481 844 470 -876 14 582 -80 965 1317 1890
Provision for Tax 121 231 127 -228 4 132 -23 263 330 491
Profit After Tax 360 612 343 -648 10 450 -57 702 987 1400
Adjustments 5 16 14 14 10 20 16 17 14 22
Profit After Adjustments 365 628 357 -634 21 470 -40 719 1002 1422
Adjusted Earnings Per Share 24.5 42.2 24 -42.6 1.4 31.6 -2.7 48.3 67.3 95.5

Chennai Petrol. Corp Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 42128 25846 27520 32528 41338 37173 22445 43375 76735 66386 59356 78610
Other Income 31 30 34 33 53 18 101 11 7 10 25 65
Total Income 42159 25876 27554 32561 41391 37191 22546 43386 76742 66396 59381 78676
Total Expenditure 42252 24497 25643 30446 40822 39330 20433 40643 71037 61909 58340 73853
Operating Profit -93 1379 1911 2115 570 -2139 2113 2743 5705 4487 1041 4823
Interest 405 353 274 322 421 415 376 413 331 224 245 120
Depreciation 229 274 279 340 453 468 466 504 573 606 606 610
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -727 778 1386 1473 -290 -2995 1296 1841 4806 3694 249 4092
Provision for Tax -694 17 335 545 -85 -938 1039 489 1275 949 35 1061
Profit After Tax -33 762 1051 927 -205 -2056 257 1352 3532 2745 214 3032
Adjustments 0 0 0 0 0 0 0 0 0 0 0 69
Profit After Adjustments -33 762 1051 927 -205 -2056 257 1352 3532 2745 214 3103
Adjusted Earnings Per Share -2.2 51.1 70.6 62.3 -13.8 -138.1 17.3 90.8 237.2 184.3 14.4 208.4

Chennai Petrol. Corp Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 1743 2469 3441 3997 3457 1359 1611 2987 6475 8821 8207
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 1000 2003 2324 826 1444 2940 3005 2392 2159 1335 158
Other Non-Current Liabilities 61 82 198 1100 1031 -158 903 950 1914 2865 1217
Total Current Liabilities 8335 5903 5972 9038 8825 8415 9361 11468 6572 7289 7566
Total Liabilities 11138 10457 11935 14961 14757 12557 14880 17821 17132 20328 17163
Fixed Assets 4102 4119 3883 5914 6977 7034 7142 6967 7637 7506 7325
Other Non-Current Assets 928 1955 3064 2340 2202 2634 2653 1975 1827 2734 946
Total Current Assets 6109 4364 4971 6688 5553 2862 5057 8261 6800 8985 7572
Total Assets 11138 10457 11935 14961 14757 12557 14880 17821 17132 20328 17163

Chennai Petrol. Corp Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 53 40 0 0 0 0 0 1 8 1 0
Cash Flow from Operating Activities 1083 2292 609 2757 -144 -620 452 1026 5749 2694 1352
Cash Flow from Investing Activities -480 -1142 -1169 -969 -1273 -963 -548 -676 -403 -589 -649
Cash Flow from Financing Activities -609 -1152 561 -1788 1417 1583 97 -343 -5354 -2106 -519
Net Cash Inflow / Outflow -6 -1 0 -0 0 -0 1 7 -7 -1 184
Closing Cash & Cash Equivalent 47 39 0 0 0 0 1 8 1 0 184

Chennai Petrol. Corp Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -2.23 51.14 70.57 62.27 -13.79 -138.1 17.28 90.8 237.16 184.34 14.38
CEPS(Rs) 13.18 69.52 89.28 85.11 16.6 -106.66 48.56 124.63 275.67 225.02 55.1
DPS(Rs) 0 4 21 18.5 0 0 0 2 27 55 5
Book NAV/Share(Rs) 117.04 164.55 229.93 267.13 230.48 89.46 106.33 200.57 434.83 592.37 551.11
Core EBITDA Margin(%) -0.26 3.86 4.62 4.71 0.99 -4.42 4.8 4.51 6.26 5.64 1.43
EBIT Margin(%) -0.67 3.23 4.09 4.06 0.25 -5.28 3.99 3.72 5.64 4.93 0.69
Pre Tax Margin(%) -1.51 2.23 3.41 3.33 -0.55 -6.13 3.09 3.04 5.28 4.65 0.35
PAT Margin (%) -0.07 2.18 2.59 2.1 -0.39 -4.21 0.61 2.23 3.88 3.46 0.3
Cash Profit Margin (%) 0.41 2.96 3.27 2.87 0.47 -3.25 1.72 3.06 4.51 4.22 1.15
ROA(%) -0.3 7.05 9.39 6.89 -1.38 -15.06 1.88 8.27 20.21 14.66 1.14
ROE(%) -1.91 36.32 35.78 25.05 -5.54 -86.33 17.65 59.17 74.65 35.89 2.51
ROCE(%) -4.51 15.98 20.82 20.63 1.41 -25.63 16.11 19.65 44.83 35.15 4.31
Receivable days 14 13.63 8.09 10.77 6.62 1.69 1.41 1.36 1.1 1.75 1.68
Inventory Days 29.19 36.7 28.68 32.85 33.51 26.93 29.88 36.28 27.07 31.72 36.74
Payable days 28.9 44.87 30.89 38.22 32.05 19.35 32.99 24.05 16.63 22.15 24.09
PER(x) 0 3.9 5.14 5.28 0 0 5.79 1.41 1 4.92 42.71
Price/Book(x) 0.59 1.21 1.58 1.23 1.18 0.68 0.94 0.64 0.55 1.53 1.11
Dividend Yield(%) 0 2.01 5.79 5.63 0 0 0 1.57 11.35 6.07 0.81
EV/Net Sales(x) 0.15 0.29 0.4 0.29 0.26 0.26 0.47 0.26 0.1 0.24 0.2
EV/Core EBITDA(x) -68.84 5.43 5.7 4.43 18.82 -4.49 5.03 4.05 1.36 3.6 11.4
Net Sales Growth(%) 0 -38.65 6.48 18.2 27.09 -10.08 -39.62 93.25 76.91 -13.49 -10.59
EBIT Growth(%) 0 451.26 46.74 9.93 -92.7 -2304.93 164.83 34.78 127.86 -23.74 -87.41
PAT Growth(%) 0 2390.1 37.99 -9.38 -122.15 -837.67 112.51 425.55 161.2 -22.27 -92.2
EPS Growth(%) 0 2390.14 37.98 -11.76 -122.15 -901.41 112.51 425.55 161.2 -22.27 -92.2
Debt/Equity(x) 3.1 1.86 1.61 1.13 1.94 6.53 5.78 3.09 0.65 0.31 0.38
Current Ratio(x) 0.73 0.74 0.83 0.74 0.63 0.34 0.54 0.72 1.03 1.23 1
Quick Ratio(x) 0.27 0.2 0.3 0.21 0.08 0.06 0.06 0.06 0.13 0.16 0.14
Interest Cover(x) -0.79 3.21 6.06 5.58 0.31 -6.22 4.44 5.46 15.53 17.48 2.02
Total Debt/Mcap(x) 5.29 1.54 1.02 0.92 1.64 9.64 6.14 4.85 1.2 0.2 0.34

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -11% +11% +10% +3%
Operating Profit CAGR -77% -28%
PAT CAGR -92% -46%
Share Price CAGR +71% +45% +54% +19%
ROE Average +3% +38% +38% +18%
ROCE Average +4% +28% +24% +14%

Chennai Petrol. Corp Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 67.29 %
FII 12.59 %
DII (MF + Insurance) 2.11 %
Public (retail) 32.71 %
# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 67.2967.2967.2967.2967.2967.2967.2967.2967.2967.29
FII 14.6615.7515.6116.0211.0710.588.788.7912.8712.59
DII 1.280.850.970.451.822.242.372.61.022.11
Public 32.7132.7132.7132.7132.7132.7132.7132.7132.7132.71
Others 0000000000
Total 100100100100100100100100100100

Chennai Petrol. Corp Peer Comparison

Refineries Edit Columns

Chennai Petrol. Corp Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

See more…

Chennai Petrol. Corp Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 38%
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Debtor days have increased from 22.15 to 24.09days.
Want to Start Investing in Top Unlisted Stocks?

Our experts help you choose the right stocks based on performance, risk, and growth potential.

whatsapp