Chennai Petroleum Corporation Limited, earlier known as Madras Refineries Limited, is an Indian petroleum products company. It is headquartered in Chennai and distributes its products to various sectors including power, petrochemicals, fertilisers and railways.
It is a subsidiary company of Indian Oil Corporation Limited. It is one of the leading companies under the Ministry of Petroleum & Natural Gas of the Government of India. The company was formed in 1065 as a joint venture between the Government of India, Amoco and National Iranian Oil Company having shareholding patterns of 74%, 13% and 13% respectively.
The market capitalisation of Chennai Petroleum Corporation Limited is over ₹11,900 crore as of January 25, 2024. Chennai Petro share price has gained over 560% in the last three years.
Business operations
Chennai Petroleum Corporation Limited's main products include LPG, motor spirit, superior kerosene, aviation turbine fuel, high-speed diesel, naphtha, bitumen, lube base stocks, paraffin wax, fuel oil, hexane and petrochemical feedstocks. It also produces products of national importance such as Navy-grade NATO diesel, missile fuel (equivalent to JP-7) and rocket propellant fuel.
The company’s two refineries (one not under operation now) have a combined annual capacity of 11.5 million tonnes. The Manali plant in Chennai has an annual capacity of 10.5 million tonnes and is one of the most advanced plants in India with production facilities for fuels, greases and waxes.
Chennai Petroleum Corporation’s second refinery is located at the Cauvery Basin with a 1.0 MMTPA capacity at Nagapattinam. This started operations in 1993. Known as the Cauvery Basin Refinery, it was a facility processing crude oil from nearby ONGC fields, Ravva crude and KG-D6 crude.
The Cauvery Basin Refinery ceased operations on April 1, 2019. This was done to establish a new refinery with a capacity of 9.0 MMTPA, in addition to a petrochemical facility. The new project is currently being developed jointly with IndianOil.
Chennai Petroleum Corporation also runs a wax plant with an annual capacity of 30,000 metric tonnes (MT) to manufacture paraffin wax used in candle making, waterproof formulations and match production. In 1988, a propylene plant with an initial capacity of 17,000 MT per annum was established to supply petrochemical feedstock to nearby downstream industries. This unit underwent revamping in 2004 to increase its propylene production capacity to 30,000 MT per annum.
In FY23, Chennai Petroleum Corporation witnessed its highest-ever crude throughput of 11.316 MMT and the highest-ever production/dispatch of Lube oil base stock. It also successfully processed five new types of crude oil including varieties sourced from Russia. The company accomplished the production and delivery of JP-7 (jet fuel) to the Defence Research and Development Organisation (DRDO) in 2023.
In FY23, high-speed diesel accounted for 57.02% of the total turnover, followed by motor spirit at 13.51%. Aviation turbine fuel and naphtha contributed 9.98% and 6.39% respectively, while LPG made up 2.75% of the company's turnover.
Chennai Petroleum Corp Financial Highlights
- Revenue: Chennai Petroleum Corp reported revenue of ₹63,705.41 crore in FY26 vs ₹59,381.26 crore in FY25. It showed an increase of 7.28% on a yearly basis.
- Operating Profit: Chennai Petroleum Corp reported an operating profit of ₹4,162.47 crore in FY26 vs ₹248.66 crore in FY25. It showed an increase of 1,573.96% on a year-on-year basis.
- Net Profit: Chennai Petroleum Corp reported a net profit of ₹3,102.70 crore in FY26 vs ₹214.09 crore in FY25. It showed an increase of 1,349.25% on a yearly basis.
Chennai Petroleum Corp Quarterly Result Highlights
- Chennai Petroleum Corp reported revenue of ₹16,838.17 crore in Mar 2026, compared with ₹15,712.18 crore in Dec 2025, representing an increase of 7.17% on a quarter-on-quarter (QoQ) basis.
- Chennai Petroleum Corp reported an operating profit of ₹1,912.55 crore in Mar 2026, compared with ₹1,331.40 crore in Dec 2025, representing an increase of 43.65% on a quarter-on-quarter (QoQ) basis.
- Chennai Petroleum Corp reported a profit of ₹1,421.85 crore in Mar 2026, compared with ₹1,001.59 crore in Dec 2025, reflecting an increase of 41.96% on a QoQ basis.
- The earnings per share (EPS) of Chennai Petroleum Corp stood at ₹14.38 during Mar 2026.
