Chennai Petroleum Corporation Ltd. share price target and research reports

Name: Latest research reports of Chennai Petroleum Corporation Ltd. authored by Kotak Securities and published by - Trendlyne research reports.
Item: Chennai Petroleum Corporation Ltd.
Rating: 5
Author: Kotak Securities

Latest analyst research reports with target prices and PDF download for CHENNPETRO, BSE:500110 Chennai Petroleum Corporation Ltd.

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Chennai Petroleum Corporation Ltd.

09 Nov 2017

910.75

1.58%

Chennai Petro

Buy: Chennai Petroleum Corporat...

Kotak Securities

Chennai petroleum has reported better than expected performance. CPCL's Q2FY18 PAT increased significantly by 846% qoq (partly base effect) to Rs.3.2 bn (+221% yoy) reflecting significantly higher refining margins, higher sales volume and lower raw material cost. CPCL has reported higher throughput of 2.64 mmt (2% qoq), resulting in 87% capacity utilization in Q2FY18. The company has reported higher GRMs of US$5.67/bbls in H1FY18 v/s US$ 3.81/bbls in Q1FY18. We expect CPCL to report an EPS of Rs.58.7/share in FY18E and an EPS of Rs.74.5 in FY19E supported by higher refining margins, lower operating cost, higher other...