Chennai Petroleum Corporation Limited (500110) Earnings Call Transcripts

Chennai Petroleum Corporation Limited's Latest Earnings Call - Q4 FY2026

In Q4 FY '26, Chennai Petroleum Corporation Limited (CPCL) reported a record gross refining margin (GRM) of $13.75 per barrel, significantly outperforming the Singapore benchmark of $8.70. The company achieved a highest-ever crude throughput of 2.93 MMT for the quarter, contributing to an annual throughput of 11.71 MMT, which is 112% of its installed capacity. CPCL's total revenue for the quarter reached INR 50,000 crores, with a net profit margin bolstered by disciplined operational efficiencies and a strategic crude sourcing approach. Management maintained a positive outlook, indicating sustained operational performance into FY '27 with a focus on capitalizing on high GRMs and expanding production capabilities.

Reported metrics

Guidance from management

Management maintained a positive outlook for FY '27, expecting to sustain high throughput levels and continue optimizing GRMs. They indicated a CapEx of INR 2,000 crores for new projects over the next 2-3 years.

What management said

So I will reply like this. Export is not a compulsion to me. Export is one of the options available to me to optimize my margins and realization. So main products like HSD, MS, everything, I see all my markets. I see -- look at all my realization. And then whatever mix and combination is best profitable for the company, those kind of things we do. So for compulsion, we are not booking anything on export.

There, I didn't knowingly know because what you are asking and what is my knowledge is very different. See, to my understanding, the export duty on that cess is part of the realization, part of the broad crack, and it is not higher than the crack. But then that doesn't make a difference for CPCL because when I have multiple options, and I have the option of both selling domestic as well as exports. And till the time ...

What analysts pressed on

Analysts expressed concerns regarding the impact of export duties on diesel and ATF margins, questioning whether current pricing mechanisms adequately reflect market conditions. There were also inquiries about the potential volatility in crude sourcing due to geopolitical events.

Main topics on the call

• Record Gross Refining Margin — CPCL reported a GRM of $13.75 per barrel for Q4 FY '26, significantly higher than the Singapore benchmark of $8.70. Management stated, "Our current GRMs have been at a premium to Singapore GRMs consistently over the past...
• Highest Ever Crude Throughput — The company achieved a crude throughput of 2.93 MMT in Q4 FY '26, representing 111% of installed capacity. Management noted, "This reflects our agility to continue performing at the highest level, tackling global challen...
• Increased Dividend Payout — CPCL announced a total dividend of INR 62 per share for FY '26, including a final dividend of INR 54, marking it as the highest ever. Management emphasized, "We are very keen on rewarding shareholders," reflecting a comm...
• Future CapEx Plans — Management outlined a CapEx plan of INR 2,000 crores over the next 2-3 years for new projects, including Group 2 and Group 3 LOBS. They stated, "This is an economics-based project that we are doing," indicating a focus o...

Read the full Chennai Petroleum Corporation Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 2 Chennai Petroleum Corporation Limited earnings call transcripts on record, spanning May 2, 2025 to April 24, 2026. The most recent call on file is dated April 24, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

500110

Exchange

BSE

Country

IN

Sector

Energy

Industry

Oil, Gas and Consumable Fuels

Calls on record

2

First call

May 2, 2025

Most recent

April 24, 2026