Confidence Petroleum India Ltd | Bottliing Profits | Share Market Advise | Go Gas | Share Guru Weekly
Confidence Petroleum India Ltd that manufactures 50 lakh LPG cylinders through 15 plants located across the country is Asia’s largest LPG cylinder maker. It has 58 bottling & mixing plants, and is setting up 15 more, scheduled to commence by March 2020. Its Go Gas Elite composite cylinders are blast proof and lite weight. To market auto LPG, it is operating 163 dispensing stations. This number will go up to 210 by March 2019 and 500 by 2020.
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In the third quarter of FY19, the turnover of LPG increased to 12,954 tons from 11,081 tons in the preceding second quarter.
The standalone net profit shot to Rs 18.58 Cr in Q3FY19, from Rs 7.04 Cr it earned in the corresponding period of the earlier year. In the first nine months ended 31 December 2018, the net profit reached a high of Rs 47.39 Cr from Rs 17.35 Cr in the year-ago period. It is worth mentioning that the 9 months profit is higher than the Rs 26.56 Cr earned in the earlier 12-month period (2017-18). The company paid Re 00.10 per share or 10% of the face value as an interim dividend for FY19.
In the equity capital of Rs 27.38 Cr, promoters are controlling 51.56% stake and FIIs 5.96%. The stock recorded a 52-week high price of Rs 57 and a low price of Rs 28. It is now available at an attractive price of about Rs 43.
BSE Code: 526829
Face Value: Re 1.00
Market Price: Rs 40.65/-