Chennai petro

Chennai Petro

Chennai Petro Q4 2022 Results

  • Q4 2022 Net Profit – Rs 1001.52 Crore’s [ QoQ Growth – 430%, YoY Growth 415% ]
  • Yearly Net Profit – Rs 1352 Crores [ Yoy Growth – 525% ]

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The Board of Directors have recommended Final Equity dividend of Rs. 2 Per equity share.

  • Average Gross Refining Margin for the period Quarter and year ended March 2022 is USS 14.18 per bbl and USS 8.85 per bbl respectively. (Jan — March 2021: USS 6.40 per bbl, April — Mar ‘2021: USS 7,14 per bbl).
  • The outstanding Non—Convertible Debentures of the Company as on 31st March 2022 are unsecured and the the asset cover is 177%.
  • Preference Share is treated as financial liability as per Ind AS 32, as these are redeemable on maturity for a fixed determinable amount and carry fixed rate of dividend. Correspondingly, in line with the requirements of Ind AS 32, pending the approval of shareholders, preference dividend, has been provisionally accrued as finance cost for the quarter ended Mar’ 2022: % 8.20 Cr and for the FY 2021-22: % 33.25 Cr.
  • However, as per the Companies Act 2013, the preference shares is treated as part of share capital and the provisions of the Act relating to declaration of Preference Dividend at the end of the year would be applicable.
  • The Board of Directors have recommended preference dividend of 6.65% on the outstanding preference shares amounting to % 33.25.Cr for the year and © 105.76 Cr being the cumulative preference dividend for the previous year(s).
  • Other Expenditure includes:
  • i. Exchange loss of € 95.79 Cr for the quarter ended Mar’ 22, exchange loss of € 98.65 Cr for the year ended Mar’22,(Exchange gain for Jan – Mar’ 22: = 22.10 Cr and Apr — Mar’22: % 86.46 Cr is included in other income).
  • ii. Provision for probable contingencies to the extent of = 234.86 Crore.
  • Impairment on Property, Plant and Equipment / CWIP represents provision in respect of Cauvery Basin
  • Refinery in accordance with Ind AS – 36 “Impairment of Assets”.

IPO Allotment