Confidence Petroleum India Limited , a key player in the petroleum industry, has announced significant board decisions and scheduled its 31st Annual General Meeting (AGM) for September 30, 2025. The company's Board of Directors made several important appointments and approvals during their meeting on September 8, 2025.

New Independent Directors Appointed

The board has appointed two new Additional Non-Executive Independent Directors, subject to shareholder approval at the upcoming AGM:

1. Mr. Sumit Bansal (DIN: 07449864), aged 36, is a qualified Company Secretary since 2015 with an L.LB from CCS University. He brings extensive experience in secretarial matters, SEBI compliances, corporate governance, and legal affairs.

2. Mrs. Richa Kalra (DIN: 07632571), aged 46, is a Company Secretary since 2004 with a wealth of experience in secretarial matters, SEBI compliances, corporate governance, and legal matters. She has also served as an Independent Director in several listed companies.

Both appointments are for a five-year term, from September 8, 2025, to September 7, 2030, pending shareholder approval.

31st Annual General Meeting Details

The company has scheduled its 31st AGM for September 30, 2025, at 1:00 PM, to be held via video conferencing (VC) or other audio-visual means (OAVM). Key dates related to the AGM include:

Other Board Approvals

The board has also approved:

1. The appointment of M/s. Siddharth Sipani & Associates as Secretarial Auditors for a five-year term, subject to shareholder approval.

2. The re-appointment of M/s. Narendra Peshne & Associates as Cost Auditors for the financial year 2025-26.

3. The Annual Report, including the Management Discussion & Analysis, Business Responsibility and Sustainability Report, and Corporate Governance Report.

These decisions reflect Confidence Petroleum India Limited's commitment to strong corporate governance and compliance with regulatory requirements. Shareholders are encouraged to participate in the upcoming AGM and exercise their voting rights on the proposed resolutions.

The company's proactive approach in appointing experienced professionals to its board and maintaining transparency through timely disclosures demonstrates its focus on sustainable growth and shareholder value creation.

Confidence Petroleum Limited, a key player in the LPG and CNG cylinder manufacturing and LPG marketing sectors, has reported its financial results for the first quarter of the fiscal year 2023, ending June 30, 2022. The company's performance shows a mixed picture with significant revenue growth but a decline in profits compared to the same period last year.

Standalone Performance

On a standalone basis, Confidence Petroleum India Limited reported a profit of ₹1,281.00 lacs for the quarter ended June 30, 2022. This marks a decrease from the ₹1,878.00 lacs profit recorded in the corresponding quarter of the previous year. However, the company's revenue from operations saw a substantial increase, rising to ₹33,111.00 lacs from ₹20,647.00 lacs year-on-year, representing a growth of approximately 60%.

Consolidated Results

The consolidated financial results paint a similar picture. The company posted a consolidated profit of ₹1,445.00 lacs, down from ₹1,682.00 lacs in the previous year's quarter. However, the consolidated revenue showed robust growth, increasing to ₹35,531.00 lacs from ₹22,165.00 lacs, marking a significant year-on-year increase of about 60%.

Segment-wise Operations

Confidence Petroleum India Limited operates through two main segments:

1. Cylinder Division: Focused on the production and marketing of LPG/CNG cylinders.
2. LPG Division: Engaged in LPG marketing and bottling business.

Financial Metrics

The company's earnings per share (EPS) for the quarter stood at ₹0.45 on a standalone basis and ₹0.50 on a consolidated basis.

Audit Report

The statutory auditors have provided unmodified limited review reports on the quarterly results, indicating that the financial statements are free from material misstatements.

Performance Analysis

While Confidence Petroleum India Limited has shown impressive top-line growth with a substantial increase in revenue, both on standalone and consolidated bases, the bottom-line results have seen a decline. This scenario suggests that the company might be facing increased operational costs or other challenges that are impacting its profitability despite strong sales growth.

The divergence between revenue growth and profit decline could be attributed to various factors such as increased raw material costs, higher operational expenses, or market pressures.

As Confidence Petroleum India Limited continues to navigate the dynamic energy sector, stakeholders will be watching closely to see how the company addresses the challenges of maintaining profitability in the face of strong revenue growth.