Chennai Petroleum Corporation Limited (CPCL) declared 50% dividend on the paid-up Equity Share Capital of the company for FY 2024-25, amounting to Rs 5/- per equity share. This was announced by Mr A.S.Sahney, Chairman, IndianOil and CPCL, at CPCL’s 59th Annual General Meeting (AGM) held virtually on August 25. Mr.H.Shankar, Managing Director, Mr.Rohit Kumar Agrawala, Director (Finance), Mr.P.Kannan, Director (Operations), and Members on the Board of CPCL were present on the occasion.
Addressing the stakeholders on the occasion, Mr Sahney highlighted that during 2024-25, CPCL’s Manali Refinery achieved a crude throughput of 10.45 Million Metric Tonnes (MMT), operating consistently near full capacity coupled with significant improvement in energy efficiency Fuel & Loss from 8.81% to 8.51%, Specific Energy Consumption, MBN from 72.2 % to 72.0%, Energy Intensity Index (EII) from 87.5 to 87.4 and reduction in water footprint from 6.6 MGD to 5.4 MGD.
Speaking on the financial performance, Chairman remarked that CPCL recorded the turnover of Rs 70,963 Crore and Profit after Tax of Rs.174 Crore with sustained excellence and operational resilience despite market challenges.
The Chairman also mentioned that as part of its strategic foray into the retail marketing segment, CPCL aims to move from being a stand-alone refiner to Oil
Marketing Company by setting up Retail Outlets (fuel stations) across various states and ensure a balanced Pan-India presence across urban and highway
markets. CPCL has got license to set up 300 Retail Outlet and will be embarking in this business shortly.
Some of the future projects of CPCL includes Production of Group II/Group III LOBS for the annual capacity of 242 KTPA at a project cost Rs 1620 Crore and
feasibility study for production of microcrystalline wax and enhancement of crude processing capacity to 14 MMTPA.
