Announcement
Announcement under Regulation 30 (LODR)-Change in Directorate 7 Oct - Shri Ritesh Kumar Golchha appointed Independent Director on CPCL board effective 07.10.2026.
Source: Bse
Chennai Petroleum Corporation Limited (CHENNPETRO)
Large CapEnergy stocks · Large cap · NSE
Chennai Petroleum Corporation Limited (CPCL) operates refineries in India, demonstrating strong operational performance and efficiency. The company is also venturing into retail outlets.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals17 Oct 2026 · screener
Latest result23 Jul, 06:53 pm IST
Score22 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Energy P/E 11.4 (n=18)
Technical timing lens
Trend score and candlestick chart
43NeutralMACD − · sector -4.4pp vs Nifty 500 (3M)
Stock trend: 57
Sector RS: 22
Sector 3M: -10.3% vs Nifty 500 -5.8%
Energy FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
CHENNPETROD candles · FIT view+44.2%Latest close ₹1438.40 on 2026-10-21
Bar
-0.4%
RSI
50
MACD hist
-6.07
52W pos
75%
2026-10-21O ₹1444.50H ₹1464.90L ₹1397.10C ₹1438.40Vol 13.1L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
CHENNPETRONifty EnergyNifty 500
- CHENNPETRO
- +14.3%
- Nifty 500
- -6.5%
- Nifty Energy
- -10.4%
- Vs Nifty 500
- +20.8 pp
Chart stats
21 Oct 2026- From 52W high
- -14.3%
- 52W range position
- 75%
- ATR (14)
- 5.5%
- Volume vs 20D
- 0.44x
- Avg traded value
- ₹445 Cr
- 20D price channel
- ₹1,325.1 - ₹1,628.7
₹1,677.5
₹716.8 - ₹1,677.5
₹79.6
Latest completed session
20-session average
71.4% annualized volatility
Research snapshot
What the evidence says now
Strong fundamentals, management evidence is still limited to a financial-only Trust Lite signal, but price trend argues for patience. Suitable for staggered entry or watchlist confirmation rather than aggressive buying.
Strong U-Score but weak trend: timing is not confirming the thesis.
Suggested next step
Add to watchlist
Fundamental setup is interesting, but technical confirmation is weak.
U-Score
Legacy · DEEP VALUE97
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good55
Revenue +84.8% · PAT NDF YoY
Technical
Neutral43
Price trend and sector-relative-strength timing.
Valuation
Legacy model+70.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence82
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 55/100Rev +85% YoY · margin expansion · +63% QoQ
Filed 23 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹27,369 Cr | +84.8% | +62.8% |
| EBITDA | ₹1,555 Cr | +1470.7% | -23.6% |
| Operating margin | 6.0% | +530 bps | -600 bps |
| PAT | ₹1,031 Cr | NDF | -27.5% |
| PAT margin | 3.8% | +404 bps | -469 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 5.02
- P/B
- 1.89
- EV/EBITDA
- 3.52
- Market Cap
- 20946.00Cr
Profitability
- ROE
- 31.80%
- ROCE
- 34.90%
- ROA
- 20.78%
- Dividend Y
- 4.41%
Growth (CAGR)
- Revenue 5Y
- 23.00%
- EPS 5Y
- 64.00%
- Revenue 3Y
- -6.00%
- EPS 3Y
- -5.00%
Balance Sheet
- Debt/Equity
- 0.28
- Interest Coverage
- 46.02×
- Altman Z
- 6.38
- Book Value
- 746.00
Cash Flow
- FCF Yield
- 9.62%
- FCF Positive Y
- 8/5
- OCF
- 2945.00 Cr
- EPS TTM
- 280.30
Shareholding
- Promoter Hold
- 67.29%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 72%
Financial History
Updated 22/10/2026
Revenue
₹ CrLatest: 63.1k+7.1% vs prev
Net Profit
₹ CrLatest: 3,103+1350.0% vs prev
Return on Equity
%Latest: 27.9+970.1% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term uptrend intact. RSI 50.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 50 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 14% off 52W high · 95% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
97
RS percentile
Stage 2 UptrendEstablished S2
1M return
+4.6%
3M return
+14.3%
6M return
+34.5%
1Y return
+77.6%
RS 1D
+1
RS 20D
+2
Sector rank
#5
Industry rank
#13
Stage evidence
- Price is 18.8% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +5.5%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
21 Jan 2026
S2 age
193 trading sessions
Sector
neutral
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 196.21+1.36%
RS vs Nifty 500196
Valuation & peers
U-Score 97 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 97 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · DEEP VALUEValuation28/30
Growth22/25
Quality20/20
Balance Sheet12/15
Cash Flow10/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
97
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
97/100 · legacy band DEEP VALUE
Positive drivers
- FCF yield is supportive at 9.6%.
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 70.0%.
Main drags
- Balance sheet is weaker at 12/15; verify the latest quarterly trend.
- Growth is weaker at 22/25; verify the latest quarterly trend.
- Valuation is weaker at 28/30; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
5.0
PB
1.9
EV/EBITDA
3.5
ROE
31.8%
ROCE
34.9%
FCF Yield
9.6%
Debt/Equity
0.3
MoS
+70.0%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE. Current PE is low at 5.0, so peak-cycle earnings risk should be checked.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 22 Oct 2026
v4.3-runtime-valuation
Final score
97
Previous: 97
Legacy U-Score band
DEEP VALUE
Previous: DEEP VALUE
Margin of safety
+70.0%
Previous: +70.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
22 Oct 2026
v4.3-runtime-valuation
97
97
97
97
96
96
97
97
97
97
97
97
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹2,169.06
+33.7% MoS
Growth-justified P/E
17.1
Growth-justified Value
₹4,793.13
+70.0% MoS
PEG
0.08
Comparable companies
Peers
Business-comparable peers in Energy — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
IOC
Large
Indian Oil Corporation Limited
Oil Refining & Marketing
match 83
90
5.4
20.5%
+68%
DEEP VALUE
BPCL
Large
Bharat Petroleum Corporation Limited
Oil Refining & Marketing
match 83
90
8.1
28.8%
+57%
DEEP VALUE
HINDPETRO
Mid
Hindustan Petroleum Corporation Limited
Oil Refining & Marketing
match 74
54
44.4
30.9%
-116%
FAIR VALUE
MRPL
Small
Mangalore Refinery and Petrochemicals Limited
Oil Refining & Marketing
match 62
81
6.8
14.5%
+61%
DEEP VALUE
KIOCL
Small
KIOCL Limited
Oil Refining & Marketing
match 47
18
502.0
0.9%
-53493%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-03T16:57:43.058Z
Management commentary snapshot
CPCL reported highest ever FY26 crude throughput (11.71 MMT, 112% capacity), distillate yield (79.1%), and product production (diesel, petrol, LPG). FY26 GRM was $9.2/bbl (Q4: $13.75/bbl). Net debt-equity improved to 0.09, and the company declared its highest ever dividend of INR62/share.
The company delivered record operational and financial performance in FY26, exceeding capacity utilization and improving key efficiency metrics. Strong GRMs, reduced leverage, and increased dividends indicate robust execution despite global challenges. Management is focused on value-added projects and operational excellence.
Current business mix
Product Volume Distribution
Latest issuer-disclosed distribution across 2 reported categories.
Main Products (HSD, MS) to IOCL90.0%
Niche Products8.0%
Growth engines
Operational Excellence
Consistently exceeding 100% capacity utilization (112% in FY26) and improving efficiency metrics like fuel & loss and distillate yield.
Value-Added Niche Products
Achieved highest ever production and dispatch of LS naphtha, pharma-grade Hexane, and MTO. Hexane capacity doubled from 30 TMT to 60 TMT.
Crude Sourcing Flexibility
Strategic sourcing (55-60% long-term, rest spot) from diverse sources, processing 52% high sulphur crude in FY26, and adapting to cheaper low-sulfur crude.
New Value-Added Projects
Undertaking Group 2 & 3 LOBS project (INR1,600 crores) for higher realization products and retail outlet expansion (INR400 crores).
Capacity and execution
Group 2 & 3 LOBS Project
INR1,600 crores project, execution started, expected to add 250 KTPA capacity for Group 2 & 3 lubes.
Retail Outlet Expansion
INR400 crores project for 300 retail outlets, with commissioning expected in FY27.
Hexane Capacity Doubling
Capacity increased from 30 TMT to 60 TMT.
Tailwinds
Strong GRM Environment
CPCL's GRMs consistently at a premium to Singapore benchmarks, indicating strong market conditions and internal optimization.
Domestic Demand for LPG
Achieved highest ever LPG production of 447 TMT, stepping up to meet national requirements amidst global uncertainties.
Value-Added Product Market
Growing demand for higher-grade lubes (Group 2 & 3 LOBS) and niche products like pharma-grade Hexane, offering better realizations.
Headwinds
Global Uncertainties
Logistical constraints and volatility of crude oil prices continue to pose challenges.
Geopolitical Events
Geopolitical events influenced Q4 FY26, creating challenges and uncertainties in crude sourcing.
Forex Volatility
Significant rupee movement during the quarter and year led to higher other expenses (INR200 crores in Q4, INR350-400 crores in FY26).
Risk radar
Crude Sourcing Disruptions
Geopolitical events and the Strait of Hormuz closure temporarily impacted 30-40% of Middle East long-term contracts, though suppliers assured commitments.
Product Margin Volatility
High daily volatility in cracks and potential impact of export duties on net realizations, though management expects long-term averages to be sustained.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
The company reports both full-year (FY26) and quarterly (Q4 FY26) results, with management highlighting consistent performance improvements over several years (YoY) and sequential GRM improvements (QoQ).
Sector KPIs management disclosed
Crude Throughput (FY26)
11.71 MMT (112% of installed capacity), highest ever.
Crude Throughput (Q4 FY26)
2.93 MMT (111% of installed capacity).
Gross Refining Margin (FY26)
$9.2 per barrel (vs Singapore benchmark $5.83 per barrel).
Gross Refining Margin (Q4 FY26)
$13.75 per barrel (vs Singapore benchmark $8.70 per barrel).
Management forward view
Sustained Performance
Expects momentum to continue in the new financial year, focusing on efficient refinery operations, cost control, and capital discipline.
Shareholder Returns
Committed to consistent dividend payments, with FY26 being the highest ever (INR62/share), and bonus issue consideration at the appropriate time.
Debottlenecking Study
Exploring low-cost debottlenecking opportunities to sustain and potentially enhance capacity, with a study expected to complete in FY27.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Crude Throughput | 112% of installed capacity (FY26) | Sustained high utilization and impact of scheduled maintenance and inspection (M&I) in H2 FY27. |
| Project Commissioning | Group 2 & 3 LOBS project execution started; 300 retail outlets commissioning in FY27. | Timely commissioning and ramp-up of new LOBS capacity and retail outlets. |
| Distillate Yield | 79.1% (highest ever) | Continued incremental improvements from operational measures and small capex projects. |
| Net GRM | $13/bbl (long-term average) | Sustenance of GRMs close to long-term averages amidst market volatility and export duties. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
82Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 94th percentile of the scored universe and 89th percentile within Energy. Main check: results consistency is weak at 43/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 22 Oct 2026
management-trust-v1
12 docs text-extracted · 5 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
94th percentile
overall median 67 · Energy: 89th pctile, median 73 · Large: 86th pctile, median 73
Evidence depth
Financial-only
12 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
89
strong · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
90
strong · capital discipline
Results
43
weak · quarterly consistency
Trust positives
- ▸Promoter holding is 67.3%.
- ▸Promoter pledge is zero.
- ▸FCF yield is 9.6%.
- ▸8 years of positive FCF.
Trust risks
- ▸2 latest quarters had PAT decline worse than 25% YoY.
- ▸OPM spread across recent quarters is 18%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Chennai Petroleum Corporation Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 14 Sep - ICRA reaffirmed CPCL’s commercial paper rating at [ICRA]A1+ for Rs 7,500 crore.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 6 Aug - Newspaper Clippings - "Revised Notice of 60th AGM"
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 2 Aug - Newspaper Clippings of 60th AGM Notice
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 30 Jun - Crisil updated bank-wise facilities; Chennai Petroleum ratings remain AAA Stable and A1+ unchanged.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Cessation 1 Jul - P. Shankar superannuates June 30, 2026; Lalit Kumar Mohanty appointed Company Secretary from July 1, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 26 Apr - Newspaper Clippings - Publication of Financial Results for the Quarter and Year ended 31.03.2026
Source: Bse
AnnouncementQ4 2025
Q4 2025 · Corporate Action-Board approves Dividend 24 Apr
Source: Bse
Annual report
Annual Report 2026 from bse
Source: Bse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Bse
AnnouncementMar 2026
Mar 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 28 Apr - CPCL Q4 FY26 call: record 11.71 MMT throughput, Rs62 dividend, and Rs2,000 crore capex plans.
Source: Bse
Concall transcriptMay 2025
May 2025 · Transcript
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.