CPCL’s 56th AGM
20% dividend declared for 2021-22.
Chennai Petroleum Corporation Limited (CPCL) has declared a dividend of 20% for the financial year 2021 – 22. This was announced by Shri. S.M.Vaidya, Chairman, Indianoil Group companies at CPCL’s 56th Annual General Meeting (AGM) Virtually through Video Conference / Other Audio Visual Means (OAVM) on 23rd August 2022. Shri. Arvind Kumar, Managing Director, CPCL, Shri.Rajeev Ailawadi, Director (Finance), Shri.S.Krishnan, Director (Operations), Shri H.Shankar, Director (Technical), Ms. Sukla Mistry, Director (Refineries) IOCL & Nominee Director of IOCL on the Board of CPCL and other Directors on the Board of the Company participated in the meeting.
In his address the Chairman said that CPCL achieved a throughput of 9.04 MMTPA in 2021-22 as compared to 8.24 MMTPA in the previous year. During the year, CPCL recorded an increase in direct sales by about 11% from 570 TMT in 2020 – 21 to 631 TMT.
Chairman also stated that, the company continuously strives to create an intrinsically safe ecosystem by adopting the best practices in the industry. This focus has translated into incident-free 1060 days and fire-free 932 days.
Speaking on the Financial performance, the Chairman remarked that, CPCL has achieved the highest ever turnover of Rs.60402 Cr with a Profit Before Tax of Rs.1832 Cr and a profit after tax of Rs.1342 Cr. Coming to the dividends, the Chairman was glad to share that on the back of good all round performance and profitability, the Board has recommended a dividend of 20% to the Equity Share holders.
Chairman also said that CPCL is setting up a new grass root refinery of 9 MMTPA capacity at Nagapattinam in JV mode with IndianOil and other strategic partners.
Shri.Arvind Kumar, Managing Director, CPCL proposed a vote of thanks.