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]

Website BSE NSE

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

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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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Detailed Comparison with:

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 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 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	83,027	85,027	82,983	85,863	86,694	82,407	94,373	1,07,400	1,08,330	1,01,135	98,284	1,01,030

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
	67.29%	67.29%	67.29%	67.29%	67.29%	67.29%	67.29%	67.29%
	12.94%	10.67%	8.81%	3.94%	0.71%	3.37%	7.67%	11.37%
	8.36%	10.66%	13.55%	16.03%	6.55%	5.36%	3.40%	1.76%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%
	11.41%	11.38%	10.35%	12.74%	25.45%	23.98%	21.63%	19.59%
No. of Shareholders	61,194	69,585	69,145	68,359	85,027	82,407	1,01,135	1,01,030

* 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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Chennai Petroleum Corporation Ltd

Chennai Petroleum Corporation Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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