CPCL (Chennai Petroleum) Q3 FY26 – Blockbuster Turnaround with Explosive Profits

CPCL delivered a phenomenal performance in the December 2025 quarter, with a sharp rebound in profitability and massive operating leverage, driven by improved refining margins and strong execution. • Sales: ↑ 21% YoY to ₹15,683 crore (vs ₹12,925 crore in Dec 2024) • EBIDT: ↑ 511% YoY to ₹1,478 crore (vs ₹242 crore) • Net Profit: ↑ 4720% YoY to ₹1,002 crore (vs ₹20.8 crore) • EPS: ↑ 4704% YoY to ₹67.26 (vs ₹1.40) At a price of ₹842, market cap ₹12,541 crore, and PE 5.8, CPCL stands out as a deep-value play with extraordinary earnings momentum. The massive jump in profits despite moderate revenue growth highlights powerful operating leverage and a strong cyclical upswing, making it one of the most striking turnarounds of the quarter.