CHENNAI PETROLEUM CORPORATION : Debt reduction goal
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- CHENNAI PETROLEUM CORPORATION : Debt reduction goal
- Chennai Petroleum Corporation Limited (CPCL), formerly known as Madras Refineries Limited (MRL) was formed as a joint venture in 1965 between the Government of India (GOI), AMOCO, and National Iranian Oil Company (NIOC).
- The present shareholders are IOCL, NICO, and others holding 51.89%,15.40%,32.71% shares respectively.
- CPCL was conceived as a grass root refinery in 1969 with an installed refining capacity of 2.5 MMTPA.
- Today, CPCL is one of the largest refining corporation in South India, with an installed refining capacity of 10.5 MMTPA built.
- CPCL stands tall among the public-sector refining companies in India, with one of the most complex refineries of its kind in the country, producing an array of value-added petroleum products.
- It also pioneered key initiatives in several areas such as process optimization, technology absorption, energy conversation, and environment management.
- Outstanding Debt: 1585 Vs 2730
- Debt Equity Ratio : 0.58 Vs 1.30
- PAT: 2217 Vs 2518
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