Chennai Petroleum Corporation Ltd. shares jumped close to 10% in the intraday session on Tuesday, taking its one-year return to more than 100%. The stock has been continuing its upward rally despite its June quarter's profitability declining.
The company also disclosed key shareholder-related developments, including a revised date for its 60th Annual General Meeting in a recent filing.
The stock is trading at Rs 1,358.5 apiece on NSE, up from its previous close at Rs 1,240.1. Nifty 50, the equity benchmark, meanwhile declined over 0.55%.
CPCL Reschedules AGM, Sets Rs 54 Dividend
According to the company's latest filing, Chennai Petroleum Corporation has rescheduled its 60th AGM to Aug. 26, 2026, from the earlier Aug. 24 date. The record date remains Aug. 7, while the cut-off date for participation has been revised to Aug. 19. The remote e-voting period will run from Aug. 22 to Aug. 25.
The company has recommended a final equity dividend of Rs 54 per share for FY26, subject to shareholder approval at the AGM. The filing also states that an interim dividend of Rs 8 per share was declared in March 2026 and paid in April.
The AGM notice also includes proposals concerning the appointment of S.G. Venkatesh as Director - Technical and V.C. Asokan as Nominee Director.
Revenue Rises, Profitability Under Pressure
The stock price has rallied over 14.42% over a month despite the company reporting a drop in its profitability sequentially.
Though revenue increased 43.5% to Rs 27,370 crore for the quarter, from Rs 16,817 crore in the March quarter, net profit fell 27% quarter-on-quarter to Rs 1,017 crore compared with Rs 1,400 crore in the previous period.
Operating profitability weakened during the quarter too, with Ebitda declining 23.6% to Rs 1,555 crore from Rs 2,036 crore, while Ebitda margin contracted to 5.7% from 12.1%.
Also Read: Chennai Petroleum Q1 Results: Profit Falls 27% Sequentially, Margin Narrows.
Stock Movement
The stock has rallied 104.985 in the past one year, and 59.6% in this calendar year 2026 itself, despite the June quarter's falling profitability.
Currently, the stock is trading at a price-to-earnings multiple of 4.42 times, with a market cap of Rs 20,502.12 crore as at the end of the last trading session.
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