BW LPG Shipping FZCO has divested its entire shareholding in Confidence Petroleum India Limited , exiting the company completely through an off-market transaction on June 2, 2026. The sale involved the disposal of 2,82,29,120 equity shares, which accounted for 8.50% of the total voting capital prior to the transaction. This disclosure was made to the stock exchanges in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Consequent upon the completion of the divestment, all agreements entered into between Confidence Petroleum India Limited and BW LPG Shipping FZCO pursuant to or in connection with the agreements dated November 30, 2023, have been terminated and ceased to have any force or effect. The company received the requisite disclosure from the investor regarding the divestment on June 3, 2026.

The transaction was executed off-market, resulting in the complete exit of the acquirer from the target company. Prior to the disposal, BW LPG Shipping FZCO held 2,82,29,120 shares carrying voting rights, with no other encumbrances or convertible instruments reported. The total equity share capital of Confidence Petroleum India Limited stood at 33,22,41,043 equity shares of face value INR 1 each, amounting to INR 33,22,41,043, both before and after the transaction.

Shareholding Details

The following table outlines the changes in shareholding for BW LPG Shipping FZCO before and after the transaction:

Transaction Overview

The mode of acquisition or sale was specified as off-market. The date of the sale of shares in the target company was June 2, 2026. The seller, BW LPG Shipping FZCO, formerly known as BW LPG Infrastructure DMCC, confirmed that it does not belong to the promoter or promoter group of the target company. The shares of Confidence Petroleum India Limited are listed on BSE Limited and the National Stock Exchange of India Limited.

Confidence Petroleum India Limited reported a consolidated net profit of ₹9,653 lakh for the financial year ended March 31, 2026, an increase from ₹9,084 lakh in the previous year. Revenue from operations for the year stood at ₹4,70,457 lakh, compared to ₹3,14,576 lakh in FY25. The board has recommended a final dividend of ₹0.10 per equity share, subject to shareholder approval at the ensuing Annual General Meeting. The statutory auditors issued a modified opinion on the financial results due to discrepancies in Goods and Services Tax (GST) input tax credit reconciliations.

Financial Performance

The company's standalone net profit for FY26 was ₹8,633 lakh, up from ₹7,740 lakh in the previous year, with revenue from operations rising to ₹4,52,967 lakh from ₹3,02,739 lakh. For the quarter ended March 31, 2026, the consolidated net profit was ₹3,439 lakh, while the standalone net profit was ₹2,670 lakh. The board approved the audited financial results for both standalone and consolidated entities during a meeting held on May 30, 2026.

Audit Qualifications

The statutory auditors, Singhi & Co. and Katariya and Munot, issued a qualified opinion on the standalone and consolidated financial results. The qualification arises from a difference of ₹1,288 lakh in the holding company's input tax credit between the balance reflected on the GST Network portal and the amount recorded in the books of account. The auditors stated they were unable to ascertain the impact of this discrepancy on the profit for the year and earlier periods, or its consequential effect on retained earnings and assets. The management is currently reconciling these differences and does not expect a material impact on the financial position.

Dividend and Borrowings

The board recommended a final dividend of 10%, or ₹0.10 per share, on a face value of ₹1 each for FY26. Additionally, the company confirmed it is not a Large Corporate as per SEBI circular dated October 19, 2023. Outstanding qualified borrowings at the end of the financial year were ₹174 crore, a decrease from ₹305.21 crore at the start of the year. The highest credit rating for the company's unsupported bank borrowings is A (Single A) by Acuite Rating and Research.