DSE:PADMAOIL
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Company · DSE:EASTRNLUB · Fuel marketing, refining & lubricants · Analysis · 29 Oct 2026
Eastern Lubricants Blenders: base oil trading lifted 9M FY2026 EPS to BDT 28.64; bank interest was 50% of pre-WPPF profit
The BPC-controlled blender earns most of its gross profit from importing base oil for the state fuel marketers and most of the rest of its profit from bank deposits; the lube-blending plant ran at about 5% of capacity in FY2025 and the FY2025 audit opinion was qualified on VAT reporting.
Eastern Lubricants Blenders PLC (ELB) is a 51%-owned subsidiary of Bangladesh Petroleum Corporation (BPC). It was registered in 1963 by Burma Oil Company, became a BPC subsidiary in 1977, and BPC took the remaining 49% from Burma Oil in 1985. The company has three lines:…
Company · DSE:CVOPRL · Fuel, refining and lubricants · Analysis · 29 Oct 2026
CVO Petrochemical Refinery: a naphtha-to-solvent margin business that tripled profit since FY2023, then idled for seven weeks when naphtha cost more than solvent
FY2026 EPS was BDT 4.93 (DSE) against BDT 0.46 in FY2023, on a single feedstock from Eastern Refinery and one product line; the plant paused from 1-Apr to 23-May-2026, leaving an implied Q4 loss of about BDT 4.6m, and the auditor qualified the FY2025 accounts.
CVO Petrochemical Refinery PLC (CVOPRL) runs a small fractionation plant in Nasirabad, Chattogram. Since 15 September 2022 it has bought naphtha from Eastern Refinery, the state refinery under Bangladesh Petroleum Corporation (BPC), and turned it into special boiling point solvent (SBPS): a 40/115 grade that…