The shares of LPG cylinder manufacturers gained up to 8 percent after the company commissioned 13 auto LPG dispersing stations (ALDS).
With a market capitalization of Rs 2,599.98 crore, the shares of Confidence Petroleum India Ltd were trading in positive at Rs 81.84 per share, increasing around 6 percent as compared to the previous closing price of Rs 77.37 apiece.
Today, the company shares have seen significant movement after Confidence Petroleum India Ltd commissioned 13 new Auto LPG Dispensing Stations (ALDS), bringing the total to 261. This expansion aligns with the company’s vision to promote green, clean, and environmentally friendly auto fuel to reduce vehicular emissions.
Examining the company’s financial condition, revenue declined by 6 percent from Rs 669 crore in Q4FY23 to Rs 631 crore in Q4FY24, during the same time frame, net profit plummeted by 33 percent from Rs 21 crore to Rs 14 crore.
According to the most current presentation, the corporation has 15 cylinder production plants around the country, with 13 owned and two leased sites. Furthermore, the company plays a significant role as a prominent supplier to esteemed Navratna oil companies like IOCL, HPCL, and BPCL, catering to their cylinder requirement.
The firm imports more than 40000 MT per month and has ambitions to expand due to high demand in India’s industrial, retail, and commercial sectors. This section strengthens bulk LPG consumption in industries, ensuring an ideal LPG blend at reasonable prices.
Confidence Petroleum India Limited is an Indian manufacturer of liquefied petroleum gas (LPG) cylinders. The company’s segments include cylinders and LPG. The Cylinder division manufactures and markets LPG/compressed natural gas (CNG) cylinders.
Written by:- Abhishek Singh
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