The shares of Chennai Petroleum Corporation were trading at Rs 103 a piece in January this year. From there it has spiked up to the current level of Rs 267 thereby giving a multi-bagger return of 158.08% YTD. In the past six months, the stock has given 135% returns to its shareholders.
On Thursday the stock declined by 1.4% and closed at Rs 266. The stock price has declined by more than 4% in the last five days and in a month it has shed more than 10%.
Ace investor Dolly Khanna holds 48,69,474 shares or a 3.3% stake in the company with an investment value of Rs 129.9 Crores.
The multibagger stock is coming up with dividends in August for the financial year 2021-22. The Board of the company has approved a dividend of 20% of its face value of Rs 20 which amounts to Rs 2 per share. For this purpose, the record date has been set as August 10, 2022.
“The dividend, if approved by the members at the AGM, will be paid within the stipulated period of 30 days of its approval,” said the company in a regulatory filing.
In Q1FY23, the company reported a Consolidated Total Income of Rs 27,453.46 Crore, up 236.10 percent from last year’s same quarter Total Income of Rs 8,168.24 Crore.
Their net profit stood at Rs 2,358 Crores in quarter one of FY23 as against Rs 53 crores which it earned in the same quarter a year ago.
Chennai Petroleum Corporation Limited (CPCL) is a subsidiary of Indian Oil Corporation which is under the ownership of the Ministry of Petroleum and Natural Gas. It is in the business of refining crude oil to produce & supply various petroleum products and manufacture and sale of lubricating oil additives.
The company has a market capitalization of Rs 3,970 Crores and a dividend yield of 0.74%.
Written by – Anoushka Roy
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