Chennai Petroleum Corporation Ltd (CPCL) delivered strong quarter-on-quarter performance in Q4 FY26, with consolidated net profit surging 42% to ₹1,421 crore compared to the previous quarter. According to CNBC TV18, this represents a dramatic improvement from the ₹1,010 crore profit recorded in the December quarter. The company's strong profitability was supported by robust crack spreads in March, aided by supply disruptions linked to geopolitical tensions in West Asia.
CPCL's revenue from operations rose 7.2% sequentially to ₹16,817 crore in Q4 FY26, as reported by CNBC TV18. The company's EBITDA jumped 38% to ₹2,035 crore on a sequential basis, while operating margins expanded significantly to 12.1% from 9.4% in the previous quarter. Crude throughput improved to 2.93 MMT from 2.78 MMT in the December quarter, demonstrating enhanced operational efficiency. The company reported calculated gross refining margins (GRMs) of $14.1 per barrel, significantly higher than the average Singapore benchmark GRM of $8.3 per barrel during the quarter. The improvement in margins suggests a stronger refining environment and better cost control during the quarter, supporting overall profitability growth.
The board of directors recommended a final equity dividend of 540% for FY26, equivalent to ₹54 per equity share with a face value of ₹10 each on the paid-up share capital, subject to shareholder approval at the Annual General Meeting. According to CNBC TV18, this is in addition to the interim equity dividend of ₹8 per equity share declared during FY26. The final dividend will be paid within 30 days of approval at the annual general meeting, with the record date to be announced. The company also recommended a preference dividend of 6.65% on outstanding preference shares up to September 23, 2025, amounting to ₹15.94 crore for FY26. With the total payout of ₹62 per share, this represents the highest dividend in two years based on recent dividend history.
Despite the strong operating performance and highest dividend payout in two years, shares of Chennai Petroleum Corporation declined over 6% in trade on Friday, April 24, as reported by CNBC TV18. The stock was trading ₹1,008 on the NSE, down ₹61.30, after hitting an intraday low of ₹995. The stock came under pressure despite the strong earnings and higher dividend payout, indicating profit-booking or cautious sentiment after recent gains. The gains were partly capped by restrictions on refining transfer prices imposed by oil marketing companies (OMCs) on standalone refiners, which limited the full potential of the company's strong operational metrics.
