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Chennai Petroleum Corporation Limited
Sector:Oil and Gas Oil and Gas - Refining and Marketing
BSE:500110NSE:CHENNPETROBloomberg:MRL@INReuters:CHPC.BO
Market Lot: 1Face Value: 10ISIN Demat: INE178A01016
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10-Aug-2015
Business Profile
Chennai Petroleum Corporation, previously known as Madras Refineries, is a group company of Indian Oil Corporation. CPCL has two refineries with a combined refining capacity of 10.5 million tons per annum. The Manali Refinery has a capacity of 9.5 MMTPA with fuel, lube, wax and petrochemical feedstocks production facilities. It`s second refinery is located at Cauvery Basin in Nagapattinam. The company has participated in JVs in Indian Additives and National Aromatics and Petrochemicals Corporation.

Most of CPCL`s products are marketed by Indian Oil. The wax plant at CPCL has an installed capacity of 30,000 tons per annum, which is designed to produce paraffin wax for manufacture of candle wax, waterproof formulations and match wax.



Financials
The company disclosed rise of 81.04% in standalone net profit on y-o-y basis to Rs 9.24 billion, while total income declined 30.30% y-o-y basis to Rs 90.53 billion for the quarter ended June 2015.

Recent Developments
28-MAY-13
Chennai Petroleum Corporation swung to a loss for the quarter ended March 2013. During the quarter, the company reported a loss of Rs 3922.3 million compared with a profit of Rs 1071.9 million in the same quarter previous year.

24-MAY-12
Chennai Petroleum Corporation reported 65.88% fall in a net profit of Rs 1.07 billion for the quarter ended Mar. 31, 2012, as compared to Rs 3.14 billion in the same period last year.

02-FEB-12
Chennai Petroleum Corporation has posted a net loss of Rs 634.1 million for the quarter ended December 31, 2011 as compared to net profit of Rs 1,549.4 million for the quarter ended December 31, 2010.

02-FEB-12
Chennai Petroleum Corporation has posted a net loss of Rs 634.1 million for the quarter ended December 31, 2011 as compared to net profit of Rs 1,549.4 million for the quarter ended December 31, 2010.

16-JAN-12
Credit rating agency, ICRA has assigned the A1+ rating to the Rs 10 billion commercial paper / short-term debt programme (enhanced from Rs 50 billion) of Chennai Petroleum Corporation (CPCL).

28-NOV-11
Credit rating agency, ICRA has reaffirmed the A1+ rating to the Rs 5 billion commercial paper / short-term debt programme of Chennai Petroleum Corporation (CPCL). Instruments with this rating are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.

18-OCT-11
Chennai Petroleum Corporation has posted a net profit of Rs 731.8 million for the quarter ended Sept. 30, 2011 as compared to Rs 977.6 million for the corresponding quarter last year, representing an decrease of 25.14%.

24-MAY-11
Chennai Petroleum Corporation, A group company of Indian Oil has posted net profit of Rs 3.14 billion for Q4FY11 as against loss of Rs 610.6 million in the corresponding quarter a year ago.



Future Plans
CPCL plans to set up a 150,000 TPA Polypropylene Plant near Manali Refinery to enhance value addition of its product chain. The estimated cost of this project is Rs 11.55 billion. It will also be associated in the setting up of re-gasified LNG Plant at Ennore Port near Chennai, as a lead promoter, along with IOC. The project would be of 2.5 MMTPA capacity expandable to 5.0 MMTPA likely to be implemented by 2010. The company is also studying the feasibility of installing an isomerisation plant, augmenting the capacity of the existing DHDS Unit and diesel hydro-treating plant.

In Brief

 
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