Refines crude oil into transportation fuels and specialty petroleum products at a single refinery complex, processing 11.71 MMT of crude in FY26 at 112% of installed capacity — its highest throughput ever. Output is dominated by diesel (5.139 MMT), petrol (1.318 MMT) and LPG (447 TMT), with a record distillate yield of 79.1%. Earnings come from the crack between refined product prices and crude cost, delivering a GRM of $9.2/bbl in FY26 against the Singapore benchmark of $5.83/bbl, and $13.75/bbl in Q4 FY26. Around 55-60% of crude is sourced under long-term agreements, mainly from the Middle East, with Russia (25-30%) and India (10%) filling the balance. A niche specialty portfolio — hexane, MTO and LOBS — accounts for roughly 7-8% of sales but ~15% of margins, and is being expanded via a ₹1,600 crore Group 2/3 LOBS project (250 KTPA) plus 300 new retail outlets commissioned in FY27. Crude oil is by far the biggest cost, making up 72.4% of revenue and leaving a 6.1% EBITDA margin. Net debt-to-equity sits below 0.1, and the company was elevated to Navratna status in June 2026. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Refining of crude into transportation fuels, LPG production, Specialty petroleum products, Retail fuel outlets. Cyclical, asset-heavy single-site refining with a growing specialty products tilt.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 60,474 | 90,908 | 79,273 | 71,050 | 78,611 |
| EBITDA (ex other income) | 2,724 | 5,697 | 4,476 | 1,016 | 4,757 |
| margin % | 4.5 | 6.3 | 5.6 | 1.4 | 6.1 |
| Owners' profit | 1,352 | 3,532 | 2,745 | 0 | 3,103 |
| EPS, as reported (₹) | 90.80 | 237.16 | 184.34 | 14.38 | 208.36 |
| ROE % · ROCE % | 45.3 · 36.6 | 54.5 · 54.2 | 31.1 · 35.1 | 2.6 · 4.6 | 27.9 · 32.8 |
| Debt / equity (x) | 3.09 | 0.65 | 0.31 | 0.38 | 0.18 |
| Cash from operations | 1,026 | 6,786 | 2,694 | 1,352 | 2,945 |
| Capex | (700) | (418) | (603) | (685) | (903) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14,425 | 15,683 | 20,581 | 18,683 | 20,034 | 19,438 | 20,455 | 29,359 |
| Profit before tax | (876) | 14 | 582 | (80) | 965 | 1,317 | 1,890 | 1,366 |
| Net profit | (634) | 21 | 470 | (40) | 719 | 1,002 | 1,422 | 1,031 |
| EPS (₹) | (42.56) | 1.40 | 31.56 | (2.69) | 48.30 | 67.26 | 95.48 | 69.26 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| RELIANCE INDUSTRIES LTD | 17,01,775 | 22.8 | 1.57 | 9.3 | 8.8 | 7.5 | 17.2 | 17.3 |
| INDIAN OIL CORP LTD | 1,90,792 | 5.5 | 0.85 | 4.0 | 19.4 | 17.1 | 11.6 | 1.6 |
| BHARAT PETROLEUM CORP LT | 1,30,100 | 7.6 | 1.30 | 3.9 | 25.8 | 23.2 | 11.4 | (0.6) |
| HINDUSTAN PETROLEUM CORP | 74,899 | 44.8 | 1.14 | 3.8 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 27 Aug 2026 · AGM 2026 voting results: all 8 resolutions passed, Rs 54 equity dividend | board shareholder meetings | medium | — | — |
| 26 Aug 2026 · CPCL 60th AGM: Navratna upgrade, record PAT of Rs 3,061 crore and Rs 62 dividend | board shareholder meetings | low | — | — |
| 6 Aug 2026 · Newspaper publication of Revised Notice of 60th AGM | compliance | minimal | — | — |
| 6 Aug 2026 · Revised notice of 60th AGM published in newspapers | compliance | minimal | — | — |
| 4 Aug 2026 · CPCL reschedules 60th AGM to August 26, 2026 from August 24 | board shareholder meetings | low | — | — |
| 2 Aug 2026 · Chennai Petroleum publishes 60th AGM notice in newspapers | compliance | minimal | — | — |
| 1 Aug 2026 · Integrated Annual Report FY26 and 60th AGM Notice | board shareholder meetings | medium | — | — |
| 1 Aug 2026 · CPCL files Business Responsibility and Sustainability Report for FY 2025-26 | general | medium | — | — |
| 1 Aug 2026 · CPCL 60th AGM notice on 24 Aug 2026 via video conference | board shareholder meetings | low | — | — |
| 31 Jul 2026 · Chennai Petroleum 60th AGM on Aug 24, 2026 with Rs 54 per share dividend | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 27.5 |
| 19.3 |
| 12.1 |
| (10.7) |
| MRPL | 30,741 | 9.8 | 2.17 | 6.9 | 13.6 | 15.7 | 15.6 | 4.5 |
| CHENNAI PETROLEUM CORP LT ◆ | 23,379 | 5.6 | 2.10 | 5.1 | 27.9 | 31.9 | 13.4 | 5.4 |
| SANMIT INFRA LIMITED | 791 | 178.9 | 20.48 | — | 5.1 | 6.1 | — | 10.2 |
| RAJASTHAN SECURITIES LIMITED | 445 | 3.5 | 3.80 | — | 69.3 | 88.6 | — | 119.3 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 5.6 | 7.6 | 5 of 13 | 67% |
| P/B | 2.1 | 1.8 | 8 of 12 | 36% |
| ROCE | 31.9 | 16.4 | 2 of 12 | 91% |
| ROE | 27.9 | 13.6 | 2 of 11 | 90% |
| Debt / Equity | 0.2 | 0.4 | 3 of 12 | 82% |
| EBITDA margin | 5.4 | 5.4 | 6 of 11 | 50% |
| Revenue growth | 57.1 | 24.2 | 2 of 8 | 86% |
| Profit growth | 2671.9 | 4.3 | 2 of 9 | 88% |
| Market cap | 23379 | 791 | 6 of 13 | 58% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
