Confidence Petroleum India Ltd Share Price – NSE  /  BSE

Miscellaneous, Small Cap

Confidence Petroleum India has allotted 40,09,000 equity shares on conversion of warrants. Consequently, the paid up equity share capital has increased to Rs. 33,03,53,043 (33,03,53,043 equity share of Rs. 1 each).

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Revenue from operation fell 5.68% to Rs 630.54 crore in the fourth quarter of financial year 2024 as against with Rs 668.58 crore posted in the corresponding quarter last year.

Profit before tax was at Rs 18.95 crore in the March quarter, down 29.23% from Rs 26.78 crore recorded in Q4 FY23.

Total expense slipped 4.59% YoY to Rs 613.96 crore in Q4 FY24 over Q4 FY23. Cost of materials consumed stood at Rs 97.03 crore (up 40.86% YoY), employee benefit expenses stood at Rs 8.21 crore (up 71.39% YoY) and finance cost was at Rs 26.11 crore (up 132.29% YoY) during the period under review.

On segmental front, revenue from cylinder division was at Rs 98.59 crore (up 100.71% YoY) while revenue from LPG division stood at Rs 531.94 crore (down 14.12%) during the period under review.

On full year basis, the company’s consolidated net profit jumped 25.22% to Rs 101.37 crore on 22.39% increase in revenue from operations to Rs 2,698.47 crore in FY24 over FY23.

Meanwhile, the board has declared a final dividend of Rs 0.10 per equity share for financial year 2023-24.

Confidence Petroleum India is a fully integrated LPG & CNG company. Its segments include LPG Cylinder Manufacturing and auto LPG and CNG dispensing stations.

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Confidence Petroleum India announced that the Board of Directors of the Company at its meeting held on 30 May 2024, inter alia, have recommended the final dividend of Rs 0.1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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Net profit of Confidence Petroleum India declined 48.36% to Rs 9.92 crore in the quarter ended March 2024 as against Rs 19.21 crore during the previous quarter ended March 2023. Sales declined 5.69% to Rs 630.54 crore in the quarter ended March 2024 as against Rs 668.58 crore during the previous quarter ended March 2023.

For the full year,net profit rose 25.23% to Rs 101.37 crore in the year ended March 2024 as against Rs 80.95 crore during the previous year ended March 2023. Sales rose 22.40% to Rs 2698.47 crore in the year ended March 2024 as against Rs 2204.66 crore during the previous year ended March 2023.

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