PETROLIMEX TAY NINH CO., LTD

PETROLIMEX TAY NINH CO., LTD (Công ty Xăng Dầu Tây Ninh) is a wholly owned subsidiary of Vietnam National Petroleum Group (Petrolimex), operating as a one-member limited liability company since its registration in July 2010. Headquartered at No. 405, 30/4 Street, Tay Ninh City, the company plays a key role in the wholesale distribution of petroleum, lubricants, LPG, and petrochemical products across Tay Ninh Province and nearby areas.

 Ms. Dang T. K. C., who holds the dual role of Chairwoman and General Director, currently chairs and manages the company. PETROLIMEX TAY NINH CO., LTD employs around 200 staff and focuses on petroleum retail and wholesale services, LPG distribution, and supplementary product sales such as detergents and construction materials.

Despite being part of Vietnam’s most influential energy conglomerates, the company’s financial performance reveals resilience and vulnerability. In 2023, it recorded total sales of USD 117.15 million, which marks a significant 12.86% decline from the previous year. This dip in revenue follows a sharp boom in 2022, when sales skyrocketed over 100% year over year—possibly due to post-pandemic demand spikes or oil price fluctuations.

The company’s profit in 2023 stood at USD 566,295, reflecting a remarkable 276% increase from the prior year’s depressed earnings. However, when seen in context, this number is still far behind its 2021 profit of nearly USD 949,000. The inconsistency in profit margins suggests volatility in operational efficiency or heavy dependence on external market variables like global fuel prices and domestic consumption cycles.

Asset growth has been modest, with total assets rising to USD 5.56 million in 2023—a 5.65% increase year-over-year. Meanwhile, owner's equity climbed to USD 2.72 million, indicating a recovery from the dip experienced in 2022. However, the company reported negative working capital of USD -1.95 million, which raises concerns about short-term liquidity and financial flexibility, particularly for a fuel distributor that requires steady cash flow to manage inventory and supply chain demands.

While PETROLIMEX TAY NINH CO., LTD benefits from strong brand recognition and backing by a national petroleum leader, its recent financials reflect a mixed picture. The company must improve profit sustainability, manage working capital more effectively, and build long-term resilience in a volatile energy market to maintain its strategic relevance in the southern Vietnam fuel sector.