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July 06, 2015 3:25 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Confidence Petroleum India Ltd.

Company Overview

Confidence Petroleum India Limited produces and sells liquefied petroleum gas (LPG) cylinders and CNG/high pressure cylinders in India. The company also blends and bottles LPG; cracks crude oil and ethanol; supplies auto LPG under the GoGas brand name, as well as LPG/CNG meters in multistory buildings and townships; and provides auto LPG logistics/transportation and storage services. In addition, it owns and operates 96 auto LPG dispensing stations. The company was incorporated in 1994 and is based in Nagpur, India.

404 Satyam Apartment

8 Wardha Road

Dhantoli

Nagpur,  440012

India

Founded in 1994

Phone:

91 71 2325 0318

Fax:

91 71 2661 2083

Key Executives for Confidence Petroleum India Ltd.

Chairman, Chief Executive Officer, Managing Director, Member of Management Committee and Member of Shareholders & Investors Grievance Committee
Total Annual Compensation: $250.0K
Chief Financial Officer, Executive Director, Member of Management Committee and Member of Audit Committee
Age: 48
Total Annual Compensation: $150.0K
Executive Director and Member of Remuneration Committee
Age: 54
Total Annual Compensation: $60.0K
Compensation as of Fiscal Year 2014.

Confidence Petroleum India Ltd. Key Developments

Confidence Petroleum India Ltd. Announces Directorate Changes

Confidence Petroleum India Ltd. has announced that the Board of Directors of the company at its meeting held on May 30, 2015 has appointed of Mrs. Mansi Deogirkar, Women Additional Director of the company with effect from June 01, 2015 to hold office till the conclusion of next AGM of the company & Resignation of Mrs. Vinita Kanhayalal Jhariya Women Additional Director of the company with effect from June 01, 2015.

Confidence Petroleum India Ltd., Board Meeting, May 30, 2015

Confidence Petroleum India Ltd., Board Meeting, May 30, 2015. Agenda: To approve appointment of Mrs. Mansi Deogirkar, Women Additional Director of the company with effect from June 01, 2015 to hold office till the conclusion of next Annual General Meeting of the company & resignation of Mrs. Vinita Kanhayalal Jhariya Women Additional Director of the company with effect from June 01, 2015.

Confidence Petroleum India Ltd. Announces Unaudited Standalone and Consolidated Earnings Results for the Fourth Quarter and Audited Standalone and Consolidated Earnings Results for the Full Year Ended March 31, 2015

Confidence Petroleum India Ltd. announced unaudited standalone and consolidated earnings results for the fourth quarter and audited standalone and consolidated earnings results for the full year ended March 31, 2015. For the quarter, on standalone basis, the company reported net sales of INR 913.048 million compared with INR 592.101 million for the same period last year. Loss from operations before other income finance costs and exceptional items of INR 23.367 million compared with profit of INR 47.211 million reported a year ago. Net profit was INR 7.597 million or INR 0.03 per basic and diluted share before extraordinary items compared to INR 19.155 million or INR 0.07 per basic and diluted share before extraordinary items a year ago. Loss from ordinary activities before tax was INR 49.702 million against profit of INR 28.838 million a year ago. For the year, on standalone basis, the company reported net sales of INR 2,662.836 million compared with INR 2,368.690 million for the same period last year. Profit from operations before other income finance costs and exceptional items of INR 29.587 million compared INR 146.910 million reported a year ago. Net loss was INR 230.335 million or INR 0.89 per basic and diluted share before extraordinary items compared to net profit of INR 20.804 million or INR 0.08 per basic and diluted share before extraordinary items a year ago. Loss from ordinary activities before tax was INR 66.366 million against profit of INR 31.204 million a year ago. For the quarter, on consolidated basis, the company reported net sales of INR 1,018.814 million compared with INR 691.793 million for the same period last year. Loss from operations before other income finance costs and exceptional items of INR 24.897 million compared profit of INR 41.040 million reported a year ago. Net profit was INR 11.430 million or INR 0.05 per diluted share before extraordinary items compared to INR 21.099 million or INR 0.08 per basic and diluted share before extraordinary items a year ago. Loss from ordinary activities before tax was INR 49.605 million against profit of INR 30.616 million a year ago. For the year, on consolidated basis, the company reported net sales of INR 3,064.756 million compared with INR 2,685.709 million for the same period last year. Profit from operations before other income finance costs and exceptional items of INR 34.610 million compared INR 146.191 million reported a year ago. Net loss was INR 229.651 million or INR 0.88 per basic and diluted share before extraordinary items compared to net profit of INR 18.766 million or INR 0.08 per basic and diluted share before extraordinary items a year ago. Loss from ordinary activities before tax was INR 65.356 million against profit of INR 29.579 million a year ago.

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