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Increased risk weighs on CHENNAI PTL.CORP.LTD., penalising its rating...
The independent financial analyst theScreener just lowered the general evaluation of CHENNAI PTL.CORP.LTD. (IN), active in the Exploration & Production industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Negative. As of the analysis date October 18, 2019, the ...
Chennai Petroleum's Q3FY19 results (Outperformer) - A very weak quarte...
Q3FY19 highlights Chennai Petro (CPCL) reported a second successive weak qtr, driven by continued weakness in Asian benchmark GRMs and high inventory losses. Resultant, CPCL reported a net loss of Rs3.7bn (Q2FY19 PAT of Rs270mn, IDFCe Rs1.8bn). For 9MFY19 CPCL has reported a net loss of Rs1.84bn (9MFY18 PAT at Rs7.36bn) Core GRMs of $3/bbl (Q2FY19 $3.2/bbl, IDFCe $4.2/bbl) and inventory loss of ~$4.1/bbl (IDFCe $1.1/bbl, Q2FY19 gain of $1.75/bbl) were both well below estimates, dragging prof...
Chennai Petroleum's Q2FY19 results (Outperformer) - Dissappointing ope...
Q2FY19 highlights Chennai Petroleum (CPCL) reported earnings of Rs270m, -91% yoy (IDFCe Rs1bn). Lower GRMs of US$5/bbl (IDFCe US$5.7/bbl) driven by Lower core margins and higher forex loss of Rs1.9bn dragged earnings EBITDA of Rs2.4bn (-62% yoy, IDFCe Rs3.5bn), EBIT of Rs1.4bn (-76% yoy, IDFCe Rs2.4bn. Effective tax rate of 47% for the quarter was also a negative surprise. Reported GRMs of US$5/bbl declined US$2.5/bbl yoy (IDFCe US$5.7/bbl) driven by sharply lower core margins (US$3.2/bbl ...
Chennai Petroleum's Q1FY19 results (Outperformer) - Higher inventory g...
Q1FY19 highlights Chennai Petroleum (CPCL) reported earnings of Rs1.6bn, +4.6x yoy (IDFCe Rs1.4bn). Higher GRMs of US$7.1/bbl (IDFCe US$5.9/bbl) driven by higher inventory gains and lower employee expenses of Rs1.3bn (-12% yoy) supported earnings. EBITDA of Rs4.5bn (+129% yoy, IDFCe Rs3.6bn), EBIT of Rs3.4bn (+178% yoy, IDFCe Rs2.5bn. However tax rate of 38% for the quarter was higher than est (25%) dragging net earnings. Reported GRMs of US$7.1/bbl improved US$3.3/bbl yoy (IDFCe US$5.9/bb...
Chennai Petroleum's Q3FY18 results (Outperformer) - Inventory gains dr...
Q3FY18 highlights Chennai Petroleum (CPCL) reported earnings of Rs3.9bn, +33% yoy, higher than estimates of Rs3.3bn. Higher than estimated refining volumes of 2.7mt (IDFCe 2.6mt) and higher inventory gains of US$3.6/bbl (IDFCe US$2.5/bbl) supported the beat but a prior period tax adjustment of Rs660mn adversely impacted earnings. EBITDA of Rs8.3bn therefore increased 55% yoy, well above estimates of Rs6bn. Reported GRMs of US$8.5/bbl was up 35% yoy, higher than estimates of US$7.5/bbl. Core...
Chennai Petroleum's Q2FY18 results (Outperformer) - Inventory gains su...
Q2FY18 highlights Chennai Petroleum (CPCL) reported earnings of Rs3.1bn, +3x yoy, higher than estimates of Rs2.7bn. Thruput of 2.6mt was in line with estimates albeit yoy volumes were down 10%. EBITDA of Rs6.4bn therefore increased 150% yoy, well above estimates of Rs5.2bn. Reported GRMs of US$7.5/bbl was up 120% yoy, higher than estimates of US$7/bbl. Core GRMs of US$5.85/bbl improved US$1.8/bbl yoy but were lower than estimates of US$6.2/bbl. Inventory gain of US$1.6/bbl was higher than e...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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