Chennai Petroleum (500110) Q4 25/26 earnings summary

Executive summary

• Achieved highest ever crude throughput of 11.71 MMT (112% of capacity) for FY 2025-26, with Q4 throughput at 2.93 MMT (111% of capacity), despite a planned shutdown of one crude unit for a month.

• Audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, were approved by the Board and received unmodified opinions from auditors.

• Record production levels for diesel (5.139 MMT), petrol (1.318 MMT), LPG (447 TMT), and value-added niche products, reflecting operational excellence and energy efficiency.

• Maintained flexibility in crude sourcing, with 55%-60% from long-term contracts and the rest from spot markets, enabling resilience amid global supply disruptions.

• Achieved quartile one position in seven indices of the International Solomon Benchmarking Study, including energy intensity and operational availability.

Financial highlights

• Standalone revenue from operations for FY26 was ₹78,610.66 crore, up from ₹71,049.91 crore in FY25.

• Standalone net profit for FY26 was ₹3,061.85 crore, a significant increase from ₹987.22 crore in FY25.

• Gross refining margin (GRM) for FY 2025-26 was $9.28/bbl, significantly above the Singapore benchmark of $5.83/bbl; Q4 GRM was $13.75/bbl vs. Singapore's $8.70/bbl.

• Earnings per share (EPS) for FY26 stood at ₹205.62 (standalone) and ₹208.36 (consolidated), up from ₹11.65 and ₹14.38 respectively in FY25.

• Highest ever total dividend of INR 62/share (including interim and final), up from INR 55/share last year.

Outlook and guidance

• CapEx guidance: INR 1,600 crore for Group II/III LOBS project and INR 400 crore for retail outlets over 2-3 years, plus INR 500 crore annual maintenance CapEx.

• Confident in sustaining throughput above 110% of capacity for the first half of FY 2027, barring scheduled maintenance.

• Ongoing studies for low-cost debottlenecking to further enhance capacity and margins.

• Board recommended final and preference dividends, reflecting confidence in ongoing profitability.