Chennai Petroleum Q2 Results 2026: Navratna PSU Declares Rs 25 Dividend, Profit Jumps 212%, Check Record Date

Chennai Petroleum Q2 results are the best in recent memory for the Navratna refiner, which makes crude oil products at its Chennai refinery. A year ago the company earned about Rs 719 crore in the same quarter, so the latest profit is more than three times as large.

This article on Chennai Petroleum Q2 results covers the numbers, the refining margin, the Rs 25 dividend and its dates, the valuation and the risks. It is educational and not a recommendation to buy or sell.

Click Here – Get Free Investment Predictions

Chennai Petroleum Q2 Results: Key Numbers

Chennai Petroleum Q2 results: metric	Q1 FY27	Q2 FY27	Change
Revenue from operations (Rs crore)	29,358.75	22,055.45	Down about 25% from Q1
EBITDA (Rs crore)	1,365.56	3,031.57	Up about 122%
EBITDA margin	4.65%	13.74%	Up about 9 points
Net profit (Rs crore)	1,016.67	2,271.29	Up about 123%
Basic EPS (Rs)	68.27	152.53	Up about 123%
Average GRM per barrel	Not stated	$20.41	Against $9.04 in Q2 FY26
Crude throughput (million tonnes)	2.85	2.59	Down about 9%

In the Chennai Petroleum Q2 results, revenue fell from the previous quarter, and so did crude processed, yet profit more than doubled, which shows that the gain came from margin and not from volume. EBITDA margin rose from 4.65% to 13.74%. The figures here are the standalone numbers from one report that itself says the financial figures may contain some discrepancies, so I advise checking them against the official filing.

Track oil and gas stocks on the Univest screeners page

How Big Was the Jump? Comparing the Reports

Chennai Petroleum Q2 results: comparison	Figure
Profit reported in the headline	About Rs 2,271 crore, up 212% year on year
Profit in Q2 FY26 as reported earlier	About Rs 719 crore
Growth against Rs 719 crore (my calculation)	About 216%
Another report	States a rise of 137%, which does not match the figures above
Market estimate	About Rs 2,010 crore
Beat against the estimate (my calculation)	About 13%

For the Chennai Petroleum Q2 results, the headline says 212%, my own check against the Rs 719 crore reported a year ago gives about 216%, and a third report says 137%. The difference may come from restated figures or from comparing standalone and consolidated numbers, so use the filing for the exact percentage. All sources agree on a profit of about Rs 2,271 crore, and it beat the market estimate.

Download the Univest iOS App or Univest Android App to follow results and dividend alerts.

Risk: Quoting a growth percentage from a headline without checking the base year can overstate or understate the change.

Gross Refining Margin: The Engine Behind Chennai Petroleum Q2 Results

The gross refining margin, or GRM, is the money a refiner earns on each barrel after paying for crude. At $20.41 a barrel for the quarter against $9.04 a year ago, the margin is more than double (about 126% higher, my calculation). For the Chennai Petroleum Q2 results, with crude above $100 and product prices high amid the West Asia conflict, refiners with products that sell well have earned strong spreads.

A refining margin can swing quickly. It depends on the gap between product prices and crude, and in a rising crude market part of a reported margin can come from inventory gains, though the sources I read do not give that split for the company. For Chennai Petroleum Q2 results, the lesson is that one quarter at $20 a barrel does not guarantee the same level in the next.

Rs 25 Interim Dividend and the Record Date

Chennai Petroleum Q2 results: dividend point	Detail
Interim dividend	Rs 25 per equity share of face value Rs 10, which is 250%
Record date	30 Oct 2026
Payment date	On or before 21 Nov 2026
Number of shares	About 14.89 crore (my calculation from profit and EPS)
Total payout	About Rs 372 crore (my calculation)
Payout against Q2 profit	About 16%
Payout against H1 profit of about Rs 3,288 crore	About 11%
Dividend yield on one payout at Rs 1,453.70	About 1.7% (my calculation)

The record date for the Chennai Petroleum Q2 results dividend is the day the company checks its list of holders. With the T+1 settlement cycle on Indian exchanges, the ex-dividend date is normally the same as the record date, so a buyer would need to hold the shares by the close of 29 Oct to be eligible (my reading; confirm on the NSE notice). The payout of about 11% to 16% of recent profit leaves most of the earnings with the company, which can be used for debt and capital spending.

Chennai Petroleum Share Price Today

Chennai Petroleum Q2 results: market point	Level on 22 Oct 2026
Previous close	Rs 1,438.40
Open	Rs 1,438.40
Day high	Rs 1,480.00
Day low	Rs 1,377.30
Close on NSE	Rs 1,453.70, up 1.06%
Close on BSE	Rs 1,454.15, up 1.03%
Volume on NSE	About 48.6 lakh shares

After the Chennai Petroleum Q2 results the stock swung widely, from a low of Rs 1,377.30 to a high of Rs 1,480, a range of about 7% (my calculation), and ended slightly higher. The gain of 1.06% on the NSE is a little below the 1.15% quoted in one report, which may reflect a different time of the day. After such a strong profit and a dividend, the muted close shows that much of the good news was already expected.

Chennai Petroleum Q2 Results and Valuation

Chennai Petroleum Q2 results: valuation measure	Figure
Market capitalisation	About Rs 21,660 crore at Rs 1,453.70 (my calculation)
Trailing EPS on the data screen	Rs 280.30
P/E at Rs 1,453.70	About 5.2 times (my calculation)
Industry P/E	15.41 times
Book value per share	Rs 746.03
Price to book at Rs 1,453.70	About 1.95 times (my calculation)
Return on equity	27.93%
Debt to equity	0.18

After the Chennai Petroleum Q2 results, a P/E of about 5 against an industry level of 15 looks very low, but it is typical for refiners at a cyclical high, because the market doubts that peak earnings will last. A return on equity of 27.93% is strong. If margins fall back toward the $9 a barrel of a year ago, earnings per share would fall sharply, and the low P/E would stop looking low.

Chennai Petroleum Q2 Results: Buy, Hold or Wait?

Chennai Petroleum Q2 results: investor type (my reading)	Points to weigh
Dividend-seeking investor	A payout of Rs 25 with a record date of 30 Oct is attractive, but it is a single interim payment and not a promise of repeat
Long-term investor	Strong returns and a low P/E help after the Chennai Petroleum Q2 results, but refining margins are cyclical; staggered buying limits the timing risk
Short-term trader	The Rs 1,377.30 to Rs 1,480 range is the reference; buying only for the dividend can lose money if the price drops after the ex-date

This is an educational view of the Chennai Petroleum Q2 results and not advice. On the ex-dividend date the share price usually adjusts by about the amount paid, so the dividend alone is not a free gain.

What to Watch Next on Chennai Petroleum Q2 Results

1. The filing details of the profit growth, including standalone and consolidated figures, after the Chennai Petroleum Q2 results
2. Refining margins in the next quarter against the $20.41 a barrel in Q2
3. Crude oil prices and product spreads, which depend on the West Asia situation
4. The record date of 30 Oct and the ex-dividend price move
5. Crude throughput, which fell to 2.59 million tonnes from 2.85 million tonnes in Q1, after the Chennai Petroleum Q2 results

Conclusion

Chennai Petroleum Q2 results show a profit of about Rs 2,271 crore, a refining margin of $20.41 a barrel and a Rs 25 interim dividend with a record date of 30 Oct. The profit beat the estimate by about 13%, but refining margins are cyclical and the growth percentage differs between reports. Read the filings and decide on your own horizon.

Frequently Asked Questions

What were the Chennai Petroleum Q2 results for FY27?

Ans. Net profit was about Rs 2,271 crore, revenue from operations was Rs 22,055.45 crore and EBITDA was Rs 3,031.57 crore with a margin of 13.74%. The average gross refining margin was $20.41 a barrel.

What is the Chennai Petroleum dividend and record date?

Ans. The board declared an interim dividend of Rs 25 per share of face value Rs 10, with a record date of 30 Oct 2026 and payment on or before 21 Nov 2026. Check the NSE notice for the ex-dividend date.

How much did the profit rise in the Chennai Petroleum Q2 results?

Ans. The headline says about 212% year on year, my own check against about Rs 719 crore a year ago gives about 216%, and one report says 137%. The profit is also about 123% higher than in Q1 FY27.

What is the gross refining margin of Chennai Petroleum?

Ans. It was $20.41 a barrel in Q2 FY27 against $9.04 in Q2 FY26, which is about 126% higher by my calculation. The margin depends on product prices against crude and can change quickly.

Is Chennai Petroleum a good dividend stock?

Ans. A payout of Rs 25 is about 1.7% of the price at Rs 1,453.70, and the total is about Rs 372 crore. It is a single interim payment, so repeat payouts depend on future refining profits.

What is the Chennai Petroleum share price after the results?

Ans. The stock closed at Rs 1,453.70 on the NSE, up 1.06%, after a range of Rs 1,377.30 to Rs 1,480. The P/E is about 5.2 times by my calculation.

What are the risks after the Chennai Petroleum Q2 results?

Ans. Refining margins are cyclical and may fall back from $20.41, crude throughput fell to 2.59 million tonnes from 2.85 million, and the profit percentage differs between reports. The cash figure in one report also looks unusually low and should be checked.

Is this article investment advice?

Ans. No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.