The shares of a state-run oil refining company, engaged in producing petroleum products and lubricating oil additives, came under focus after seasoned investor Dolly Khanna appeared to have exited her stake in the June 2025 quarter.
With a market capitalization of Rs 11,066 Crores, the share price of Chennai Petroleum Corporation Limited was trading over 2% up to hit an intraday high of Rs 755.55 per share from its previous closing price of Rs 734.20 per share.
What’s the News
Veteran investor Dolly Khanna has likely exited her position in Chennai Petroleum Corporation Ltd (CPCL) during the June 2025 quarter, as her name no longer appears in the company’s list of key shareholders. As per the March 2025 shareholding pattern, Khanna held 16.18 lakh shares, or a 1.09% stake in the company.
Her absence from the June 30, 2025, filing suggests that her holding has dropped below the 1% disclosure threshold, prompting speculation of a full or partial exit. Dolly Khanna had been steadily reducing her stake in the Indian Oil Corporation-backed company over the previous quarters.
About the Company
Chennai Petroleum Corporation Ltd (CPCL), a subsidiary of Indian Oil Corporation, is a key public-sector player in India’s oil refining industry. Established in the 1960s with a capacity of 2.5 MMTPA, it has grown to a refining capacity of 10.5 MMTPA today. CPCL refines crude oil into a wide range of petroleum products and also manufactures and sells lubricating oil additives.
Known for its complex refinery operations, CPCL has led several initiatives in process optimisation, energy efficiency, and environmental management. As of June 2025, 67.29% of the company is held by the promoter group, led by Indian Oil. The stock has been a stellar performer, delivering a 813% return over the last five years.
The company reported a revenue of Rs 59,356 crore in FY25, down by 10.1 percent from its FY24 revenue of Rs 66,024 crore. Coming to its profitability, the company reported a net profit decline of 92.2% to Rs 214 crore in FY25 from Rs 2,745 crore in FY24.
Written By Rohan Pandey
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