Chennai Petroleum Corporation Ltd

Chennai Petroleum Corporation Ltd

₹ 680 1.44%
05 Dec 4:01 p.m.
About

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]

Key Points

Revenue Breakup
Presently, high-speed diesel accounts for ~45% of revenues, followed by Motor spirit (11%), heavy ends (11%), Automatic transmission fluid (10%), naphtha (9%) and other value added products (14%).[1]

  • Market Cap 10,125 Cr.
  • Current Price 680
  • High / Low 698 / 186
  • Stock P/E 3.51
  • Book Value 512
  • Dividend Yield 3.97 %
  • ROCE 45.5 %
  • ROE 77.9 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is providing a good dividend yield of 3.97%.
  • Company has delivered good profit growth of 31.1% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 64.3%
  • Company's working capital requirements have reduced from 27.4 days to 15.3 days

Cons

  • Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Refineries Industry: Refineries

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023
4,875 5,892 8,737 8,166 8,856 9,939 16,414 23,163 19,509 16,054 18,009 14,745 16,545
4,255 5,681 8,215 7,875 8,550 9,393 14,826 19,756 19,279 15,620 16,382 13,795 14,740
Operating Profit 620 210 522 291 306 546 1,588 3,407 230 434 1,627 950 1,804
OPM % 13% 4% 6% 4% 3% 5% 10% 15% 1% 3% 9% 6% 11%
38 33 29 2 8 1 6 2 10 2 2 2 5
Interest 79 77 95 100 103 113 96 76 61 108 84 57 65
Depreciation 117 113 123 119 122 132 132 133 143 141 157 147 157
Profit before tax 461 53 333 74 89 301 1,367 3,199 36 186 1,388 747 1,588
Tax % 37% 1,152% 30% 27% 27% 24% 27% 26% 21% 23% 28% 27% 25%
291 -556 232 54 65 229 994 2,359 28 143 1,004 548 1,191
EPS in Rs 19.51 -37.37 15.57 3.61 4.40 15.37 66.78 158.40 1.87 9.60 67.44 36.82 79.95
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
40,627 42,883 49,131 41,637 25,716 27,522 32,369 41,113 36,973 22,222 43,068 76,271 65,353
40,235 43,743 48,544 41,779 24,367 25,645 30,288 40,595 39,076 20,209 40,336 70,574 60,538
Operating Profit 393 -860 587 -142 1,349 1,877 2,082 518 -2,103 2,014 2,732 5,698 4,815
OPM % 1% -2% 1% -0% 5% 7% 6% 1% -6% 9% 6% 7% 7%
64 15 40 30 36 40 39 59 24 107 16 15 11
Interest 250 478 569 405 353 274 322 421 415 376 413 331 315
Depreciation 365 375 390 226 274 279 340 453 523 467 504 573 602
Profit before tax -158 -1,698 -331 -742 759 1,365 1,458 -298 -3,016 1,277 1,832 4,809 3,909
Tax % 139% -4% 8% 95% 2% 25% 37% 28% 31% 81% 27% 27%
62 -1,767 -304 -39 742 1,030 913 -213 -2,078 238 1,342 3,534 2,886
EPS in Rs 4.15 -118.65 -20.40 -2.62 49.82 69.15 61.31 -14.33 -139.52 15.95 90.15 237.31 193.81
Dividend Payout % 48% 0% 0% 0% 8% 30% 30% 0% 0% 0% 2% 11%
Compounded Sales Growth
10 Years: 6%
5 Years: 19%
3 Years: 27%
TTM: -5%
Compounded Profit Growth
10 Years: 15%
5 Years: 31%
3 Years: 55%
TTM: -20%
Stock Price CAGR
10 Years: 26%
5 Years: 20%
3 Years: 95%
1 Year: 210%
Return on Equity
10 Years: 20%
5 Years: 20%
3 Years: 64%
Last Year: 78%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 149 149 149 149 149 149 149 149 149 149 149 149 149
Reserves 3,644 1,877 1,573 1,506 2,212 3,165 3,707 3,161 1,043 1,276 2,641 6,132 7,469
Preference Capital 0 0 0 0 0 0 500 547 573 606 500 500
3,672 5,905 5,600 5,399 4,567 5,501 3,991 6,121 8,126 8,561 8,738 3,760 3,423
7,502 6,189 6,644 3,929 3,430 2,681 6,351 4,525 3,351 4,093 5,798 5,845 6,940
Total Liabilities 14,967 14,121 13,966 10,983 10,358 11,496 14,198 13,955 12,669 14,078 17,327 15,885 17,981
3,716 4,568 4,292 4,077 4,119 3,883 5,914 6,977 7,034 7,142 6,967 7,637 7,726
CWIP 1,012 173 344 782 1,679 2,763 1,410 1,199 1,598 1,550 1,210 331 131
Investments 24 24 25 25 12 12 12 12 12 12 12 12 12
10,215 9,355 9,305 6,098 4,547 4,838 6,863 5,767 4,025 5,374 9,139 7,905 10,112
Total Assets 14,967 14,121 13,966 10,983 10,358 11,496 14,198 13,955 12,669 14,078 17,327 15,885 17,981

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
1,567 -1,350 1,141 1,078 2,292 609 2,757 -145 -621 452 1,026 5,749
-503 -393 -279 -477 -1,142 -1,169 -969 -1,273 -963 -548 -676 -403
-1,037 1,746 -856 -608 -1,152 561 -1,788 1,418 1,584 97 -343 -5,354
Net Cash Flow 26 2 5 -6 -1 0 -0 0 -0 1 7 -7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 31 22 17 16 11 14 18 3 1 3 2 1
Inventory Days 59 55 52 34 50 48 60 45 23 87 71 32
Days Payable 56 40 40 29 39 25 56 23 15 36 30 16
Cash Conversion Cycle 34 36 28 21 22 37 22 25 9 54 43 17
Working Capital Days 27 31 23 9 14 29 -3 14 2 31 36 15
ROCE % 1% -16% 3% -5% 16% 21% 21% 1% -26% 16% 20% 46%

Shareholding Pattern

Numbers in percentages

6 Recently
Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
67.29% 67.29% 67.29% 67.29% 67.29% 67.29% 67.29% 67.29% 67.29% 67.29% 67.29% 67.29%
2.06% 0.71% 2.22% 1.33% 2.67% 3.37% 4.01% 4.66% 5.07% 7.67% 8.49% 11.37%
4.92% 6.55% 7.18% 6.72% 5.85% 5.36% 2.67% 3.29% 3.25% 3.40% 1.97% 1.76%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.00% 0.00%
25.74% 25.45% 23.31% 24.66% 24.20% 23.98% 26.03% 24.76% 24.40% 21.63% 22.25% 19.59%
No. of Shareholders 83,02785,02782,98385,86386,69482,40794,3731,07,4001,08,3301,01,13598,2841,01,030

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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