CPChennai Petroleum Corporation500110Oil refining

Chennai Petroleum (CPCL) reported strong GRMs and revenue growth, with an interim dividend announced; stock up 72% YTD

By ScoutQuest · Thu 22 Oct 2026, 2:34 PM IST · 1 min read

Revenue change sequential

25 percent decline

Revenue prior quarter booking

385 crore rupees

GRM this quarter

$20.41 per barrel

Inventory gain in GRM

$4 per barrel

Interim dividend

₹25 per share

Heard on business television between 14:34:18 - 14:37:18 IST.

• Revenues were down 25% sequentially but had doubled quarter-on-quarter after adjusting for a 385 crore rupee revenue booked in Q1 related to earlier supplies.
• GRMs came in strong at $20.41 per barrel including an inventory gain of about $4 per barrel; even stripping that out, GRMs improved sequentially and YoY.
• Company announced an interim dividend of ₹25 per share.
• Stock has risen 72% year-to-date amid higher refining cracks; diesel cracks remain elevated with IEA citing $113 per barrel as of 8th October.
• Unlike MRPL, Chennai Petro does not export; its reported crack is a blended MS and diesel number around $20 per barrel, lower than OMCs' $23-25 GRM due to transfer pricing caps.

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