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CONFIPET - Confidence Petro

📊 NSE: CONFIPET 🏢 Miscellaneous 📅 Last Updated: 12/13/2025 21:10

📢 Recent Corporate Announcements

Confidence Petroleum Submits Regulation 74(5) Compliance Certificate for Q4 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 15 Apr 2026, 06:37 PM

Confidence Petroleum India Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, provided by Adroit Corporate Services Private Limited, confirms the processing of dematerialization requests for the quarter ended March 31, 2026. It verifies that share certificates received were mutilated, cancelled, and the depository's name was updated in the register of members. This is a standard procedural disclosure required for all listed entities in India.

Compliance certificate submitted for the quarter ended March 31, 2026.
Registrar Adroit Corporate Services confirmed all dematerialization requests were processed within 15 days.
Verification and cancellation of physical share certificates were completed as per SEBI norms.
Dematerialized securities are confirmed to be listed on the NSE and BSE.

💡 This is a routine administrative filing with no impact on the company's financial performance or business operations. No action is required from investors.

Confidence Petroleum to Seek Approval for ₹1,000 Crore Borrowing Limit at May 2026 EGM

🔵 WATCH ⭐ 7/10

FUNDRAISE 📅 10 Apr 2026, 06:36 PM

Confidence Petroleum India Limited has convened an Extraordinary General Meeting (EGM) on May 02, 2026, to seek shareholder approval for significant financial resolutions. The company is proposing to increase its borrowing limits to ₹1,000 Crores, which would allow it to raise debt beyond its current paid-up capital and free reserves. Additionally, the board seeks authorization to create charges or mortgages on company assets up to the same ₹1,000 Crore limit to secure these potential borrowings. The agenda also includes the appointment of M/s. Katariya and Munot as Joint Statutory Auditors.

Proposed increase in borrowing limits to a maximum of ₹1,000 Crores under Section 180(1)(c)
Authorization to create charges or mortgages on movable and immovable assets up to ₹1,000 Crores
Appointment of M/s. Katariya and Munot, Chartered Accountants, as Joint Statutory Auditors
EGM scheduled for May 02, 2026, with remote e-voting available from April 29 to May 01, 2026
Cut-off date for determining shareholder voting eligibility is April 24, 2026

💡 Investors should watch for subsequent announcements regarding the specific utilization of the ₹1,000 Crore borrowing capacity, as it likely signals major expansion plans or capital expenditure. Monitor the company's debt-to-equity ratio if these borrowing powers are fully exercised.

Confidence Petroleum to Hold EGM on May 2, 2026; Voting Cut-off Set for April 24

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 10 Apr 2026, 01:33 PM

Confidence Petroleum India Limited has scheduled an Extra-Ordinary General Meeting (EGM) for May 2, 2026, to be conducted via video conferencing. The company has fixed April 24, 2026, as the cut-off date to determine shareholder eligibility for e-voting. The voting period will run from April 29 to May 1, 2026, through the NSDL platform. This meeting follows the board's approval on April 10, 2026, to seek shareholder consensus on specific business items.

EGM scheduled for May 2, 2026, at 1:00 PM IST via VC/OAVM.
Shareholder eligibility cut-off date for voting is April 24, 2026.
E-voting window opens April 29, 2026, and closes May 1, 2026.
CS Siddharth Sipani appointed as Scrutinizer for the electronic voting process.

💡 Monitor the upcoming detailed EGM notice to understand the specific resolutions, such as potential fundraising or structural changes. No immediate trade is necessitated by this procedural announcement.

Confidence Petroleum Acquires 100% Stake in BW Confidence Enterprise for ₹1.13 Crore

🟢 POSITIVE ⭐ 7/10

M&A 📅 08 Apr 2026, 05:07 PM

Confidence Petroleum India Limited has successfully acquired the remaining 50% stake in its joint venture, BW Confidence Enterprise Private Limited, from BW LPG Infrastructure DMCC. The company purchased 25,00,000 equity shares at a price of ₹4.536 per share, totaling a cash consideration of approximately ₹1.13 crore. Following this transaction, BW Confidence Enterprise has become a wholly-owned subsidiary of the company. This move follows the termination of the previous joint venture arrangement due to strategic and commercial considerations.

Acquired 25,00,000 equity shares representing 50% of the paid-up share capital
Total acquisition cost amounts to ₹1,13,42,434.29 paid via cash
BW Confidence Enterprise Private Limited is now a 100% wholly-owned subsidiary
The target entity operates in the Petroleum Gases industry with an authorized capital of ₹8 crore
Acquisition was completed at an arm's length price of ₹4.536 per share

💡 Investors should note this as a positive consolidation move that gives the company full operational control over its subsidiary. While the transaction value is relatively small, it simplifies the corporate structure and allows for better strategic alignment in the petroleum gas business.

Confidence Petroleum Announces Trading Window Closure from April 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 31 Mar 2026, 09:26 PM

Confidence Petroleum India Limited has notified the stock exchanges regarding the closure of its trading window for designated persons starting April 1, 2026. This move is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of financial results. The window will remain closed until 48 hours after the audited financial results for the fiscal year ending March 31, 2026, are announced. The specific date for the board meeting to approve these results will be communicated separately.

Trading window closure effective from Wednesday, April 1, 2026.
Applies to all Designated Persons and their immediate relatives as per SEBI regulations.
Window to remain closed until 48 hours after the release of Audited Financial Results for FY 2025-26.
Board meeting date for result approval to be informed in due course.

💡 This is a routine regulatory announcement with no immediate impact on stock fundamentals. Investors should watch for the upcoming announcement of the board meeting date to review the company's annual performance.

Confidence Petroleum Clarifies Significant Volume Spurt as Market-Driven

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 14 Mar 2026, 04:06 PM

Confidence Petroleum India Limited has responded to a surveillance query from the National Stock Exchange regarding a significant increase in trading volume. The company clarified that it has disclosed all material information and events as per SEBI Listing Obligations and Disclosure Requirements. Management stated that there is no pending undisclosed information or announcement that would impact the price or volume of its securities. The company attributes the recent surge in trading activity purely to market forces.

NSE issued a surveillance query (Ref: NSE/CM/Surveillance/16563) on March 12, 2026, regarding volume spurts.
Company confirms full compliance with Regulation 30 of SEBI LODR regulations.
Management explicitly stated no price-sensitive information is currently pending disclosure.
The increase in trading volume is categorized by the company as purely market-driven.

💡 Investors should view this as a routine regulatory clarification and avoid speculating on the volume spurt alone. Focus on upcoming quarterly results and fundamental business developments for long-term decision making.

Confidence Petroleum Shareholders Approve 3 Director Appointments with 99.9% Majority

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 28 Feb 2026, 08:14 PM

Confidence Petroleum India Limited (CONFIPET) successfully concluded its Extraordinary General Meeting (EGM) on February 27, 2026, with shareholders approving all proposed resolutions. The appointments include Mrs. Nimisha Rohit Agrawal as an Independent Director, Mr. Prasad Manjarkhede as an Executive Director, and Mrs. Ketki Mahendra Save as a Non-Executive Non-Independent Director. All resolutions were passed with an overwhelming majority of over 99.99% of the votes cast. The total voting turnout represented approximately 46.25% of the company's total 332.24 million outstanding shares.

Appointment of Mrs. Nimisha Rohit Agrawal as Independent Director approved with 153,645,472 votes in favor (99.99%)
Mr. Prasad Manjarkhede appointed as Executive Director with 153,656,021 votes in favor and only 45 votes against
Mrs. Ketki Mahendra Save appointed as Non-Executive Non-Independent Director with 99.99% shareholder approval
Total voter turnout recorded at 46.25% of the 332,241,043 total shares from a base of 111,392 shareholders

💡 Investors should view these appointments as a routine strengthening of the board; monitor future strategic decisions from the new leadership for impact on operational efficiency.

Confidence Petroleum Appoints Three New Directors at Extraordinary General Meeting

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 27 Feb 2026, 09:43 PM

Confidence Petroleum India Limited conducted an Extraordinary General Meeting (EGM) on February 27, 2026, to seek shareholder approval for board appointments. The meeting focused on the induction of three new directors, including one Independent Director and one Executive Director. The proceedings were completed within 15 minutes via video conferencing. Official voting results per SEBI regulations are expected to be released following the scrutinizer's report.

Appointment of Mrs. Nimisha Rohit Agrawal as a Non-Executive Independent Director
Appointment of Mr. Prasad Manjarkhede as an Executive Director
Appointment of Mrs. Ketki Mahendra Save as a Non-Executive Non-Independent Director
The EGM was held on February 27, 2026, starting at 1:00 PM and concluding at 1:15 PM

💡 Investors should monitor the final voting results and review the professional backgrounds of the new appointees to understand their potential contribution to the company's governance and operations.

Confidence Petroleum Reports Zero Deviation in ₹250.11 Cr Fund Utilization for Q3 FY26

🟢 POSITIVE ⭐ 6/10

REGULATORY 📅 14 Feb 2026, 06:52 PM

Confidence Petroleum India Limited has reported no deviations in the utilization of funds raised through its ₹250.11 crore preferential issue from February 2024. As of December 31, 2025, the company has utilized ₹194.29 crore across various segments including Auto LPG, CNG, and LPG Cylinder segments. Specifically, ₹55.66 crore was spent on Auto LPG Capex and ₹69.92 crore on Pack LPG Cylinder Capex. The monitoring agency, Care Ratings Ltd, confirmed that the funds are being used as per the original objects.

Total funds raised via preferential issue amount to ₹250.11 Crores.
No deviation or variation reported in the use of funds for the quarter ended December 31, 2025.
Cumulative utilization stands at ₹194.29 Crores, representing approximately 77.7% of the total funds.
Significant progress in Capex for Pack LPG Cylinder (₹69.92 Cr) and Auto LPG (₹55.66 Cr) segments.

💡 Investors should view this as a positive sign of management's commitment to its stated expansion plans. Monitor the remaining ₹55.82 crore utilization in upcoming quarters to ensure timely completion of projects.

Confidence Petroleum Q3 Revenue Doubles YoY to ₹1,394 Cr; Net Profit Dips 19% to ₹21.3 Cr

🔵 WATCH ⭐ 8/10

EARNINGS 📅 14 Feb 2026, 06:41 PM

Confidence Petroleum reported a massive 99.9% YoY increase in consolidated revenue to ₹1,393.88 crore for Q3 FY26, primarily driven by the LPG division. However, net profit declined by 19.2% YoY to ₹21.28 crore as margins were squeezed by higher purchase costs and finance expenses. The Cylinder division saw a sharp revenue decline of 45.7% YoY, while the LPG division grew 132%. Investors should also note significant regulatory overhangs, including an ongoing Income Tax search outcome and a GST show-cause notice regarding tax rate differentials.

Consolidated Revenue from operations surged 99.9% YoY to ₹1,393.88 crore in Q3 FY26.
Net Profit for the quarter stood at ₹21.28 crore, down 19.2% from ₹26.34 crore in the same period last year.
LPG Division revenue grew 132% YoY to ₹1,324.56 crore, while Cylinder Division revenue fell to ₹69.32 crore.
Company is contesting a GST Show Cause Notice for differential tax on supplies worth ₹23,384.84 lakhs.
Finance costs increased to ₹24.97 crore in Q3 FY26 compared to ₹18.99 crore in Q3 FY25.

💡 While the top-line growth is exceptional, the margin contraction and legal uncertainties regarding GST and Income Tax searches warrant a cautious stance. Investors should monitor the resolution of these regulatory matters and the profitability of the LPG segment in upcoming quarters.

Confidence Petroleum Schedules EGM for Feb 27, 2026, to Approve Key Board Appointments

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 05 Feb 2026, 06:46 PM

Confidence Petroleum India Limited has issued a notice for an Extraordinary General Meeting (EGM) to be held on February 27, 2026, via video conferencing. The primary agenda involves seeking shareholder approval for the appointment of three directors, including one Independent Director for a five-year term. Shareholders holding equity as of the cut-off date of February 20, 2026, are eligible to vote. The e-voting period is scheduled to run from February 24 to February 26, 2026.

EGM scheduled for February 27, 2026, at 1:00 PM to transact special business regarding board composition.
Proposed appointment of Mrs. Nimisha Rohit Agrawal as an Independent Director for a 5-year term until February 26, 2031.
Proposal to appoint Mr. Prasad Manjarkhede as an Executive Director and Mrs. Ketki Mahendra Save as a Non-Executive Director.
Cut-off date for determining e-voting eligibility is February 20, 2026.
Remote e-voting facility will be available from 9:00 AM on February 24 to 5:00 PM on February 26, 2026.

💡 Investors should review the professional backgrounds of the proposed directors to ensure the board's leadership aligns with long-term growth strategies. Shareholders are encouraged to exercise their voting rights during the electronic voting window.

Confidence Petroleum Appoints New Directors and Joint Statutory Auditor; EGM Set for Feb 27

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 04 Feb 2026, 06:56 PM

Confidence Petroleum India Limited has announced several key leadership and governance changes following its board meeting on February 4, 2026. The company appointed Mrs. Nimisha Rohit Agrawal as an Independent Director and Mr. Prasad Manjarkhede as a Non-Independent Director. Additionally, M/s. Katariya and Munot have been appointed as Joint Statutory Auditors to fill a casual vacancy. An Extra-Ordinary General Meeting (EGM) is scheduled for February 27, 2026, to obtain shareholder approval for these appointments.

Appointment of Mrs. Nimisha Rohit Agrawal (CA and MBA) as Non-Executive Independent Additional Director
Appointment of Mr. Prasad Manjarkhede, with 10 years of marketing experience, as Non-Executive Non-Independent Additional Director
M/s. Katariya and Munot appointed as Joint Statutory Auditors until the conclusion of the 42nd AGM in FY 2026-27
Extra-Ordinary General Meeting (EGM) scheduled for February 27, 2026, at 1:00 PM via Video Conferencing
E-voting period for shareholders set from February 24 to February 26, 2026, with a cut-off date of February 20

💡 These are routine governance and management updates; investors should note the changes in the board composition but no immediate action is required.

Confidence Petroleum Submits SEBI Reg 74(5) Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 15 Jan 2026, 09:02 PM

Confidence Petroleum India Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Adroit Corporate Services Private Limited, confirms the processing of dematerialization requests for the quarter ended December 31, 2025. It verifies that security certificates received were mutilated and cancelled, and the name of the depositories was substituted in the register of members within 15 days. This is a standard procedural filing required by all listed companies in India to ensure proper share accounting.

Compliance certificate submitted for the quarter ended December 31, 2025.
Registrar & Transfer Agent Adroit Corporate Services confirmed the dematerialization process.
Security certificates were mutilated and cancelled within the mandated 15-day period.
Confirmation that securities are listed on the stock exchanges where earlier issues were listed.

💡 No action is required as this is a routine regulatory filing. Investors should focus on the company's upcoming quarterly earnings for fundamental performance.

Confidence Petroleum Announces Trading Window Closure Effective January 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 31 Dec 2025, 08:05 PM

Confidence Petroleum India Limited has announced the closure of its trading window for all designated persons starting January 1, 2026. This move is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations for the quarter ending December 31, 2025. The window will remain closed until 48 hours after the announcement of the un-audited financial results. The specific date for the board meeting to approve these results is yet to be announced.

Trading window closure starts from Thursday, January 1, 2026.
Closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.
Applies to all Designated Persons, Directors, KMPs, and their immediate relatives.
Window to reopen 48 hours after the declaration of Q3 FY2025-26 financial results.

💡 This is a routine administrative filing ahead of quarterly earnings; investors should wait for the announcement of the board meeting date to assess financial performance.

Confidence Petroleum Joint Statutory Auditor L N J & Associates Resigns

🔵 WATCH ⭐ 6/10

MANAGEMENT 📅 30 Dec 2025, 06:04 PM

Confidence Petroleum India Limited has announced the resignation of L N J & Associates, one of its Joint Statutory Auditors, effective December 30, 2025. The auditor cited preoccupation with other personal and professional commitments as the reason for leaving before the scheduled end of their term in FY 2026-27. Importantly, the outgoing auditor confirmed there are no disputes or concerns regarding the suppression of information by the company's management. The firm had been associated with the company since September 2021 and recently completed the limited review for the quarter ended September 30, 2025.

L N J & Associates resigned as Joint Statutory Auditor effective December 30, 2025.
The auditor was originally appointed for a 5-year term on September 30, 2021, intended to last until the FY 2026-27 AGM.
The firm explicitly certified that there are no disputes or concerns relating to management's suppression of information.
The resignation is attributed to preoccupation with other professional and personal commitments.
The auditor had recently issued the limited review report for the quarter ended September 30, 2025, on November 14, 2025.

💡 Investors should monitor the appointment of a replacement auditor to ensure continuity in financial oversight. While the auditor cited no disputes, mid-term resignations are a governance touchpoint that requires ongoing observation.

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💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 22% YoY to INR 2,698.47 Cr in FY2024 from INR 2,208.83 Cr in FY2023. For 9MFY25, revenue increased to INR 2,256.44 Cr from INR 2,081.84 Cr in 9MFY24. The LPG division is the dominant segment with assets of INR 2,252.51 Cr compared to the Cylinder division's INR 396.57 Cr as of September 2025.

Geographic Revenue Split

Not specifically disclosed by percentage, but operations are spread across India with 15 cylinder manufacturing units, 68 LPG bottling plants, and 287 ALDS stations nationwide.

Profitability Margins

Net profit after tax for the six months ended September 30, 2025, was INR 39.04 Cr on a total income of INR 2,111.74 Cr, representing a net margin of approximately 1.85%. Profitability is impacted by high purchase costs of stock-in-trade which reached INR 1,634.48 Cr for the same period.

EBITDA Margin

EBITDA margin stood at 13.32% in FY2024, up from 10.08% in FY2023. However, margins showed volatility, declining to 10.66% in 9MFY25 from 12.09% in 9MFY24, and dropping to 9.74% in Q1FY25 from 17.70% in Q4FY24 due to fluctuating raw material costs.

Capital Expenditure

The group plans to incur major capex in a phased manner over the next three years. While specific total INR Cr is not fixed, it is funded by internal accruals (INR 265.57 Cr generated in FY2024) and equity infusion, including a preferential allotment of equity shares amounting to INR 70.14 Cr.

Credit Rating & Borrowing

The group maintains a 'Stable' outlook with strong liquidity. Interest coverage ratio stood at 5.10 times in FY2024 (down from 10.26 times in FY2023), and Debt Service Coverage Ratio (DSCR) was 2.83 times in FY2024.

⚙️ Operational Drivers

Raw Materials

Bulk LPG and Steel (for cylinder manufacturing) are the primary raw materials, with total raw material costs forming ~76-77% of the total sale value.

Import Sources

Sourced primarily within India from PSU Oil majors, though the company is incorporating 'Confidence LPG Trading FZCO' to facilitate international LPG trading.

Key Suppliers

PSU Oil Majors (such as HPCL, BPCL, and IOCL) are the primary suppliers for LPG and the main clients for bottling and cylinder manufacturing tenders.

Capacity Expansion

Current capacity includes 15 cylinder manufacturing units, 68 LPG bottling/blending plants, and 287 ALDS stations. Expansion is focused on the CNG segment and increasing the ALDS footprint over a 3-year phased timeline.

Raw Material Costs

Raw material costs are highly volatile as prices are decided by PSUs. In the six months ended September 2025, purchase of stock-in-trade was INR 1,634.48 Cr, representing ~78% of revenue from operations.

Manufacturing Efficiency

Efficiency improved in FY2024 through technology, automation, and streamlining of logistics, which helped raise EBITDA margins from 10.08% to 13.32% YoY.

Logistics & Distribution

The group leverages its own 68 bottling plants and 2,000+ dealer network to manage distribution, aiming to reduce logistics costs through economies of scale.

📈 Strategic Growth

Expected Growth Rate

22%

Growth Strategy

Growth is targeted through diversification into the CNG segment, bulk LPG trading, and international expansion via the new UAE-based entity Confidence LPG Trading FZCO. The company is also leveraging its 15/210 share of the Indian cylinder manufacturing market to win more PSU tenders.

Products & Services

LPG Cylinders (manufacturing), LPG Bottling services for PSUs, Auto LPG (ALDS stations), Bulk LPG trading, and CNG distribution.

Brand Portfolio

Confidence Petroleum, GoGas (implied via ALDS and LPG distribution operations).

New Products/Services

Foray into the CNG segment and international LPG trading are expected to provide new revenue streams, though specific contribution percentages are not yet disclosed.

Market Expansion

Expansion into the CNG segment and international trading (FZCO) with a focus on increasing the 287-station ALDS network.

Market Share & Ranking

The group owns 15 out of approximately 210 cylinder manufacturing units in India, representing a significant ~7% of the national manufacturing infrastructure in this fragmented segment.

Strategic Alliances

The company operates in joint ventures and has subsidiaries, with a recent 100% subscription to the share capital of Confidence LPG Trading FZCO.

🌍 External Factors

Industry Trends

The industry is shifting toward cleaner fuels (CNG) and piped natural gas (PNG) in urban areas. Confidence is positioning itself by diversifying into CNG to counter the potential decline in urban LPG demand.

Competitive Landscape

Faces intense competition from other private gas fillers and significant disruption from government-backed gas pipeline companies in Tier-1 cities.

Competitive Moat

Moat is based on high entry barriers due to PESO (Explosives) norms and a massive physical footprint of 68 bottling plants and 2,000+ dealers. This infrastructure is difficult and time-consuming for competitors to replicate.

Macro Economic Sensitivity

Highly sensitive to global energy prices and government fuel subsidy policies which dictate PSU pricing and demand for LPG vs. alternative fuels.

Consumer Behavior

Shift toward piped gas in cities is forcing a shift in demand toward commercial LPG and rural distribution where pipeline infrastructure is absent.

Geopolitical Risks

Exposure to global oil and gas supply chain disruptions which affect the pricing of LPG imports handled by PSUs.

⚖️ Regulatory & Governance

Industry Regulations

Highly regulated by the Ministry of Petroleum and Natural Gas; subject to strict safety standards, licensing for bottling plants, and PSU-driven tender regulations.

Environmental Compliance

Operations must strictly adhere to PESO (Petroleum and Explosives Safety Organization) norms for explosive materials handling.

Taxation Policy Impact

Effective tax rate for the half-year ended September 2025 was approximately 25.4% (INR 13.29 Cr tax on INR 52.32 Cr PBT).

Legal Contingencies

The company noted a difference in Input Tax Credit values (Electronic Credit vs. Cash Ledger) and is evaluating liabilities related to the Employees Provident Fund Act definition of wages, though no material adverse impact is currently expected.

⚠️ Risk Analysis

Key Uncertainties

Tender-based business risks where failure to secure PSU contracts could impact 15 manufacturing units. Margin volatility (3-7% swings) due to raw material price fluctuations is a persistent risk.

Geographic Concentration Risk

While pan-India, the business is concentrated in areas without piped gas infrastructure, making it vulnerable to the expansion of city gas distribution (CGD) networks.

Third Party Dependencies

Heavy reliance on PSU Oil majors for both raw material supply and as the primary customer base for the cylinder and bottling segments.

Technology Obsolescence Risk

Risk of LPG being superseded by electric cooking or piped natural gas; mitigated by diversifying into the CNG segment.

Credit & Counterparty Risk

Trade receivables increased by 59.7% to INR 377.15 Cr in September 2025 from INR 236.14 Cr in March 2025, indicating potential pressure on collections.