Chennai Petroleum Corporation
Chennai Petroleum Corporation
Petroleum ProductsKey Fundamentals
SmallcapRefineries & MarketingPetroleum ProductsTapetide Score
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Key Insights
Strengths
5- Company has reduced debt.
- Stock is providing a good dividend yield of 4.60%.
- Company is expected to give good quarter
- Company has a good return on equity (ROE) track record: 3 Years ROE 23.4%
- Company has been maintaining a healthy dividend payout of 31.5%
Growth Rate
AI Analysis — Bull vs Bear
Chennai Petroleum Corporation Ltd has a market capitalisation of about Rs 20,661 crore. It trades at a P/E of 4.9x and a P/B of 1.84x, with a dividend yield of 4.52%. TTM sales grew 34% and TTM profit grew 2,380% from a depressed base, but 3-year compounded sales and profit are down 6% and 5% a year. That points to earnings that swing with refining margins rather than steady growth. The stock has returned 81% over 1 year against a 10-year CAGR of 16%.
- A trailing P/E of 4.9x is low in absolute terms, so the market is paying under 5 years of current earnings for the business.
- The dividend yield of 4.52%, backed by a payout ratio of about 31.5%, gives a cash return while still leaving about two-thirds of profits for reinvestment and cutting debt.
- Return on equity has been strong across periods: 32% last year, 23% over 3 years, 33% over 5 years and 23% over 10 years. That suggests the business can earn above its cost of capital through the cycle.
- TTM profit growth of 2,380% and TTM sales growth of 34% show a sharp earnings recovery from the prior trough period.
- The company has reduced debt, which lowers interest costs and financial risk in a capital-heavy business. This matters more given the refining cycle's volatility.
- Over 5 years, sales compounded at 23% and profit at 64%, showing strong operating leverage when refining conditions are favourable.
- A P/B of 1.84x alongside a 5-year average ROE of 33% means the market values the book at a modest multiple relative to historical returns on equity.
- The stock has compounded 62% a year over 5 years and 39% over 3 years, reflecting a re-rating from earlier depressed valuations.
- Compounded sales fell 6% a year and profit fell 5% a year over 3 years. The TTM surge of 2,380% comes off a very low base, not from lasting structural growth.
- A P/E of 4.9x reflects earnings close to the cyclical peak. A standalone refiner's profits depend heavily on gross refining margins, which can compress quickly and make a low headline P/E misleading.
- The stock is up 81% over 1 year, far above its 10-year CAGR of 16%. Much of the margin recovery may already be in the price, and there is more room to fall if margins normalise.
- Over 10 years, sales compounded at just 9% and profit at 15%. Long-run growth is modest once the cyclical peaks and troughs average out.
- ROE has swung widely, from 33% on a 5-year basis to 23% on 3-year and 10-year bases. That volatility shows how sensitive returns are to crude prices, crack spreads and inventory gains or losses.
- The 4.52% dividend yield depends on current peak-cycle earnings. At a 31.5% payout ratio, a fall in profits would feed directly into lower dividends.
- Current ROE, ROCE, debt-to-equity, EPS and 52-week range data are missing from the dataset (52-week high and low show as 0). That limits how well balance-sheet strength and price positioning can be checked.
- Refining is capital-heavy and regulated: pricing of domestic fuels, windfall or export taxes, and large refinery capex can all cut into cash flows. P/B is already 1.84x, above book.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- ₹54 FY26 final dividend approved Aug 27
At its 60th AGM, Chennai Petroleum shareholders approved a final dividend of ₹54 per share for FY26. That is a large payout and suggests strong refining earnings and cash generation.
- All eight AGM resolutions passed Aug 27
The promoter group voted unanimously for all eight resolutions, including director appointments. This points to stable governance and continued promoter backing.
TL;DR: CHENNPETRO's shareholders approved a ₹54 final dividend for FY26, and the promoters backed every resolution at the AGM. Both point to strong recent profits and stable governance. This set of news says nothing about current refining margins, crude costs or government pricing policy, and those remain the main risks for a standalone refiner. Future results will depend mostly on whether gross refining margins hold up and whether crude prices swing sharply.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 14,745 | 16,545 | 17,376 | 17,720 | 17,095 | 12,086 | 12,925 | 17,249 | 14,812 | 16,327 | 15,683 | 16,817 | 27,369 |
| Expenses | 13,795 | 14,740 | 16,696 | 16,678 | 16,432 | 12,761 | 12,683 | 16,464 | 14,714 | 15,183 | 14,205 | 14,781 | 25,814 |
| Operating Profit | 950 | 1,804 | 680 | 1,042 | 663 | -675 | 242 | 785 | 99 | 1,144 | 1,478 | 2,036 | 1,555 |
| OPM % | 6% | 11% | 3.9% | 6% | 3.9% | -6% | 1.9% | 4.5% | 0.7% | 7% | 9% | 12% | 6% |
| Other Income | 10 | 10 | 8 | 19 | 19 | 19 | 15 | 32 | 26 | 23 | 43 | 43 | 32 |
| Interest | 57 | 65 | 50 | 51 | 48 | 52 | 79 | 66 | 37 | 34 | 33 | 16 | 52 |
| Depreciation | 147 | 157 | 151 | 151 | 150 | 153 | 153 | 150 | 151 | 152 | 157 | 150 | 155 |
| PBT | 756 | 1,593 | 486 | 859 | 484 | -862 | 24 | 602 | -64 | 982 | 1,331 | 1,913 | 1,380 |
| Tax % | 26% | 25% | 25% | 27% | 26% | -26% | 15% | 22% | -37% | 27% | 25% | 26% | 25% |
| Net Profit | 556 | 1,195 | 365 | 628 | 357 | -634 | 21 | 470 | -40 | 719 | 1,002 | 1,422 | 1,031 |
| EPS in Rs | 37.37 | 80.28 | 24.53 | 42.17 | 23.98 | -42.55 | 1.4 | 31.56 | -2.69 | 48.3 | 67.26 | 95.48 | 69.26 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 41,899 | 25,716 | 27,522 | 32,370 | 41,113 | 36,973 | 22,222 | 43,068 | 76,271 | 66,024 | 58,983 | 63,148 | 76,197 |
| Expenses | 42,016 | 24,367 | 25,646 | 30,288 | 40,596 | 39,130 | 20,210 | 40,336 | 70,574 | 61,548 | 57,946 | 58,390 | 69,984 |
| Operating Profit | -117 | 1,349 | 1,877 | 2,082 | 517 | -2,157 | 2,012 | 2,732 | 5,698 | 4,476 | 1,038 | 4,757 | 6,213 |
| OPM % | -0.3% | 5% | 7% | 6% | 1.3% | -6% | 9% | 6% | 7% | 7% | 1.8% | 8% | 8% |
| Other Income | 25 | 56 | 62 | 52 | 67 | 45 | 127 | 26 | 13 | 47 | 62 | 135 | 142 |
| Interest | 405 | 353 | 274 | 322 | 421 | 415 | 376 | 413 | 331 | 224 | 245 | 120 | 135 |
| Depreciation | 229 | 274 | 279 | 340 | 453 | 468 | 466 | 504 | 573 | 606 | 607 | 610 | 614 |
| PBT | -727 | 778 | 1,386 | 1,473 | -290 | -2,995 | 1,296 | 1,841 | 4,806 | 3,694 | 249 | 4,162 | 5,606 |
| Tax % | -95% | 2% | 24% | 37% | -29% | -31% | 80% | 27% | 27% | 26% | 14% | 25% | — |
| Net Profit | -33 | 762 | 1,051 | 927 | -205 | -2,056 | 257 | 1,352 | 3,532 | 2,745 | 214 | 3,103 | 4,174 |
| EPS in Rs | -2.23 | 51.14 | 70.57 | 62.27 | -13.79 | -138 | 17.28 | 90.79 | 237 | 184 | 14.38 | 208 | 280 |
| Div. Payout % | 0% | 8% | 30% | 30% | 0% | 0% | 0% | 2% | 11% | 30% | 35% | 30% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 149 | 149 | 149 | 149 | 149 | 149 | 149 | 149 | 149 | 149 | 149 | 149 |
| Reserves | 1,594 | 2,320 | 3,292 | 3,848 | 3,308 | 1,210 | 1,462 | 2,838 | 6,326 | 8,672 | 8,058 | 10,960 |
| Borrowings | 5,399 | 4,567 | 5,501 | 4,491 | 6,668 | 8,698 | 9,167 | 9,238 | 4,260 | 2,786 | 3,117 | 1,964 |
| Other Liabilities | 3,959 | 3,430 | 2,681 | 5,851 | 4,013 | 2,818 | 3,487 | 5,298 | 5,345 | 6,768 | 5,785 | 7,011 |
| Total Liabilities | 11,101 | 10,465 | 11,623 | 14,339 | 14,138 | 12,875 | 14,265 | 17,523 | 16,079 | 18,375 | 17,109 | 20,085 |
| Fixed Assets | 4,102 | 4,119 | 3,883 | 5,914 | 6,977 | 7,034 | 7,142 | 6,967 | 7,637 | 7,506 | 7,325 | 7,182 |
| CWIP | 784 | 1,679 | 2,763 | 1,410 | 1,199 | 1,598 | 1,550 | 1,210 | 331 | 210 | 208 | 346 |
| Investments | 14 | 119 | 140 | 153 | 159 | 179 | 199 | 208 | 206 | 240 | 280 | 491 |
| Other Assets | 6,201 | 4,547 | 4,837 | 6,863 | 5,802 | 4,064 | 5,374 | 9,139 | 7,905 | 10,419 | 9,296 | 12,066 |
| Total Assets | 11,101 | 10,465 | 11,623 | 14,339 | 14,138 | 12,875 | 14,265 | 17,523 | 16,079 | 18,375 | 17,109 | 20,085 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 1,083 | 2,292 | 609 | 2,757 | -144 | -620 | 452 | 1,026 | 5,749 | 2,694 | 1,352 | 2,945 |
| Investing | -480 | -1,142 | -1,169 | -969 | -1,273 | -963 | -548 | -676 | -403 | -589 | -649 | -930 |
| Financing | -609 | -1,152 | 561 | -1,788 | 1,417 | 1,583 | 97 | -343 | -5,354 | -2,106 | -519 | -1,294 |
| Net Cash Flow | -6 | -1 | 0 | 0 | 0 | 0 | 1 | 7 | -7 | -1 | 184 | 721 |
| Free Cash Flow | 596 | 1,129 | -582 | 1,766 | -1,452 | -1,607 | -116 | 326 | 5,331 | 2,092 | 667 | 2,045 |
| CFO/OP | -931 | 172 | 48 | 150 | -21 | 27 | 23 | 38 | 119 | 81 | 130 | 82 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 16 | 11 | 14 | 18 | 3 | 1 | 3 | 2 | 1 | 3 | 1 | 1 |
| Inventory Days | 35 | 50 | 48 | 60 | 45 | 23 | 87 | 71 | 32 | 48 | 42 | 53 |
| Days Payable | 29 | 39 | 25 | 56 | 23 | 15 | 36 | 30 | 16 | 26 | 20 | 25 |
| Cash Conversion Cycle | 22 | 22 | 37 | 22 | 26 | 9 | 54 | 43 | 17 | 24 | 23 | 29 |
| Working Capital Days | -20 | -22 | -14 | -26 | -29 | -54 | -70 | -22 | 5 | 9 | -2 | 10 |
| ROCE % | — | 16% | 21% | 21% | 1% | -26% | 16% | 20% | 45% | 35% | 4% | 35% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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62 extracted metrics + investor summaries across FY10–FY27.
Documents
Frequently Asked Questions about Chennai Petroleum Corporation
What does Chennai Petroleum Corporation Ltd do?
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What is the 52-week high and low of Chennai Petroleum Corporation Ltd?
Does Chennai Petroleum Corporation Ltd pay dividends?
What is the Return on Equity (ROE) of Chennai Petroleum Corporation Ltd?
Company Information
Chennai Petroleum Corporation Limited is in the business of refining crude oil to produce & supply various petroleum products and manufacture and sale of lubricating oil additives.[1]
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