Confidence Petroleum India Limited has informed the stock exchanges about the resignation of its joint statutory auditor, L N J & Associates, Chartered Accountants, effective December 30, 2025. The announcement was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Auditor Details and Resignation

L N J & Associates, with firm registration number 135772W, submitted their resignation letter on December 30, 2025. The auditing firm cited preoccupation with other personal and professional commitments as the primary reason for their decision to discontinue as statutory auditors.

Audit Tenure and Performance

The auditing firm was appointed as statutory auditor for a five-year term at the company's 27th Annual General Meeting held on September 30, 2021. Their term was originally scheduled to expire at the conclusion of the 41st Annual General Meeting for FY 2026-27.

Compliance and Declarations

L N J & Associates confirmed in their resignation letter that they have no disputes or concerns relating to suppression of information by the company's management for audit procedures. The firm stated that all information provided in their resignation letter and attachments is correct and complete, with no other material reasons for resignation beyond those disclosed.

The auditing firm will forward the ADT-3 form to the Registrar of Companies as required under the Companies Act, 2013. Company Secretary Prity Bhabhra signed the regulatory filing on behalf of Confidence Petroleum India Limited, ensuring compliance with all applicable SEBI circulars and listing regulations.

Confidence Petroleum India Ltd , a key player in the LPG and CNG sector, has reported mixed results for the second quarter of fiscal year 2025-26. The company saw a decline in revenue but managed to improve its EBITDA margin amidst challenging market conditions.

Revenue and Profitability

For Q2 FY2025-26, Confidence Petroleum reported a consolidated revenue of ₹983.00 crore, down from ₹1,112.00 crore in the previous quarter. Despite the revenue decline, the company maintained its profitability levels, with consolidated net profit remaining relatively flat at ₹203.00 crore.

Improved EBITDA Margin

A notable highlight of the quarter was the improvement in the company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin. The EBITDA stood at ₹824.00 crore, with an improved margin of 8.39%. This increase in EBITDA margin suggests enhanced operational efficiency despite the revenue challenges.

Segment Performance

The company's financial results reveal a stark contrast between its two main business segments:

The LPG division showed robust growth, while the cylinder division experienced a significant decline in revenue compared to the same quarter last year.

Market Challenges and Company Response

The decline in overall revenue suggests that Confidence Petroleum is facing market headwinds. However, the company's ability to maintain profitability and improve its EBITDA margin indicates effective cost management and operational strategies.

Future Outlook

The mixed results highlight both challenges and opportunities in the LPG and CNG markets. The significant growth in the LPG division may signal shifting market dynamics or successful expansion strategies in this segment.

Investors and market analysts will likely be watching closely to see how Confidence Petroleum navigates the current market conditions and capitalizes on growth opportunities in its stronger-performing LPG division.

As the company continues to adapt to market changes, its focus on operational efficiency, as evidenced by the improved EBITDA margin, may be key to maintaining financial stability and driving future growth.