Continental Petroleums Limited , a Jaipur-based company, has announced a crucial board meeting scheduled for October 31, 2025. The meeting, set to take place at 3:00 PM at the company's registered office in Jaipur, will focus on a significant financial decision involving its subsidiary.

Key Agenda Item

The primary item on the agenda is the consideration of providing a corporate guarantee for its subsidiary, Magnus Asia Private Limited (formerly known as Unique Techno Associates Private Limited). This guarantee is intended to secure working capital limits from ICICI Bank.

Meeting Details

Here's a summary of the key details of the upcoming board meeting:

Regulatory Compliance

The company has made this announcement in compliance with Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. This regulation mandates listed entities to inform stock exchanges about board meetings that are considering materially important matters.

Company Background

Continental Petroleums Limited operates in the petroleum and lubricants sector. The company's CIN is L23201RJ1986PLC003704, indicating its registration in Rajasthan.

This board meeting signifies a potential strategic move by Continental Petroleums to support its subsidiary's financial operations. The outcome of this meeting could have implications for the company's financial structure and its relationship with its subsidiary.

Investors and stakeholders will be keenly watching for the results of this board meeting, as the decision on the corporate guarantee could impact the company's financial commitments and future strategies.

Continental Petroleums Limited, a player in the lubricants and grease manufacturing sector, has reported a significant drop in its quarterly profit and announced the appointment of a new cost auditor for the upcoming fiscal year.

Financial Performance

The company's unaudited financial results for the quarter ended June 30 reveal a substantial decline in profitability:

Continental Petroleums experienced a sharp 52.15% year-over-year decrease in net profit, which fell to ₹61.70 lakhs from ₹128.94 lakhs in the same quarter of the previous year. This decline was accompanied by a 48.67% reduction in total income, which decreased to ₹1843.58 lakhs from ₹3591.51 lakhs.

The earnings per share (EPS) also reflected this downward trend, dropping to ₹1.11 from ₹2.32 in the corresponding quarter of the previous year, marking a 52.16% decrease.

Appointment of Cost Auditor

In a separate development, Continental Petroleums' Board of Directors has approved the appointment of Mr. Babu Lal Maharwal as the company's Cost Auditor for the fiscal year 2025-26. Mr. Maharwal is the proprietor of M/s MAHARWAL & ASSOCIATES, a firm registered with the Institute of Cost Accountants of India (Firm Registration No. 101556).

The appointment was made during a board meeting held on August 11. M/s MAHARWAL & ASSOCIATES, established in 2012, specializes in various compliance and consulting services, including cost audit, cost compliance, internal controls, taxation, and management consultancy.

Company Overview

Continental Petroleums Limited operates in three main business segments:

1. Lubricants & Grease Manufacturing & Distribution
2. Incineration Services
3. Turnkey Projects

The company continues to navigate challenging market conditions, as reflected in its latest financial results.

Note: All financial figures are in Indian Rupees (₹).