Bharat Petroleum Corporation Ltd logo

Bharat Petroleum Corporation Ltd

BPCL NSE

Key Fundamentals

LargecapRefineries & MarketingPetroleum Products
Market Cap
1.4L Cr
Volatility
Moderate
P/E Ratio
5.2
EBITDA
₹40,791 Cr
Return on Equity
35.51%
Debt to Equity
0.74
Book Value
₹231.04
EPS
₹44.92
52W High
₹391.65
52W Low
₹266.6

Technical Indicators

Key Insights

Strengths

2
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.5%
  • Company has been maintaining a healthy dividend payout of 26.0%

Growth Rate

Revenue Growth
2.77% ↗
Net Income Growth
91.67% ↗
Cash Flow Change
-34.17% ↘
ROE
-53.84% ↘
ROCE
-48.63% ↘
EBITDA Margin (Avg.)
39.91% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high
BUY Worth buying at current levels Conviction 6/10

BPCL trades at a compelling PE of 5.1x with a dividend yield of 5.71%, offering deep value in the energy space. Strong 3-year ROE of 29% and 98% compounded profit CAGR over 3 years support the earnings recovery thesis, though cyclicality and lack of sales growth remain concerns.

Bull Case 8
  • Extremely low PE of 5.1x indicates deep value relative to broader market averages of 20-22x
  • Attractive dividend yield of 5.71% provides strong income support and downside protection
  • Robust 3-year ROE of 29% demonstrates efficient capital utilization despite being a PSU
  • Compounded profit CAGR of 98% over 3 years reflects massive earnings recovery cycle
  • 58% of analysts (18 out of 31) rate the stock a Buy, signaling consensus bullishness
  • 10-year compounded profit growth of 12% shows consistent long-term earnings trajectory
  • Price-to-book of 1.33x is reasonable for a company generating 29% ROE, implying undervaluation
  • TTM profit growth of 92% indicates current earnings momentum remains strong
Bear Case 8
  • Compounded sales CAGR of -1% over 3 years indicates stagnant topline growth
  • Stock CAGR of -2% over 1 year shows near-term price weakness despite strong earnings
  • 25.81% of analysts (8 out of 31) have a Sell rating, a notably high proportion
  • 5-year stock CAGR of only 5% despite 16% profit CAGR suggests persistent valuation compression
  • As a government-controlled OMC, BPCL faces regulatory risk on fuel pricing with no control over margins
  • TTM sales growth of just 3% suggests limited volume or pricing expansion in current cycle
  • Dividend payout of 26% is modest given PSU status, indicating potential government dividend extraction pressure
  • Cyclical nature of refining margins means current 29% ROE is unlikely to be sustained in a downturn

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Headwinds 2
  • Mumbai refinery shutdown Nov 2025 Jun 08

    BPCL will shut its 120,000 bpd crude unit at the 200,000 bpd Mumbai refinery for 3-4 weeks in November 2025, reducing 60% of the refinery's crude processing capacity during that period.

  • Mozambique project capital exposure Jun 05

    BPCL seeks shareholder approval for related party transactions worth up to USD 1,290.50 million and a guarantee of USD 1,920 million for its Mozambique LNG project, representing significant capital commitment and geopolitical risk.

Positives 2
  • Brazil FPSO consortium contract signed Jun 01

    BPCL subsidiary IBV Brasil Petroleo LTDA signed an FPSO contract for the BM-SEAL-11 Concession involving a USD 2.8 billion investment, expanding upstream E&P presence internationally.

  • ₹387 cr piping contract awarded May 30

    DEE Development Engineers secured a ₹386.86 crore manufacturing and piping supply contract from BPCL, to be executed by 18 February 2028, indicating ongoing capex and refinery expansion activity.

Neutral 5
  • ₹51 cr block trade on NSE Jun 17

    A block trade of approximately 16.06 lakh shares at ₹318.45 per share worth ₹51.13 crore was recorded on NSE, indicating institutional-level portfolio rebalancing.

  • Investor meetings scheduled June May 28

    BPCL will hold analyst and institutional investor meetings in Mumbai on June 2, 3, and 5, 2026, signalling routine engagement with the investment community.

  • New HR Director appointed May 27

    Shri Pushp Kumar Nayar appointed as Director (Human Resources) effective May 27, 2026, bringing over 35 years of experience to the leadership team.

  • Share dematerialisation window opened Jun 05

    BPCL opened a special window until February 4, 2027, for transfer and dematerialisation of physical securities purchased before April 1, 2019.

  • ED Biofuels superannuates Jun 01

    Executive Director Shri Manoj K. (Biofuels & Major Projects, E&P) superannuated effective May 31, 2026, a routine leadership transition.

TL;DR: BPCL is actively expanding its international upstream presence with a USD 2.8 billion Brazil FPSO contract and continued commitment to the Mozambique LNG project (USD 3.2 billion in approvals sought). Domestically, the planned November shutdown of its Mumbai refinery's 120,000 bpd crude unit poses a near-term throughput headwind. The stock saw institutional block activity at ₹318.45 suggesting steady institutional interest. Overall trend is stable with international diversification progressing but large capital commitments and refinery downtime remain key risks to monitor.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
1,18,115
1,12,985
1,03,044
1,15,499
1,16,555
1,13,095
1,02,785
1,13,166
1,11,230
1,12,551
1,04,946
1,19,029
1,18,701
Expenses
1,07,031
97,200
90,104
1,09,300
1,07,600
1,07,468
98,268
1,05,710
1,03,494
1,02,874
95,185
1,07,343
1,09,067
Operating Profit
11,085
15,785
12,941
6,199
8,955
5,627
4,517
7,456
7,737
9,678
9,761
11,687
9,634
OPM %
9%
14%
13%
5%
8%
5%
4%
7%
7%
9%
9%
10%
8%
Other Income
523
1,003
911
919
403
807
1,278
548
1,061
1,840
1,375
687
940
Interest
1,148
1,071
1,190
920
967
889
923
861
919
758
833
657
705
Depreciation
1,605
1,614
1,605
1,830
1,722
1,686
1,779
1,810
1,982
1,889
1,958
1,979
2,031
PBT
8,854
14,103
11,056
4,367
6,669
3,859
3,094
5,333
5,897
8,872
8,345
9,737
7,838
Tax %
22%
25%
25%
27%
28%
26%
26%
29%
26%
23%
26%
26%
28%
Net Profit
6,870
10,644
8,244
3,181
4,790
2,842
2,297
3,806
4,392
6,839
6,191
7,188
5,625
EPS in Rs
15.84
24.53
19
7.33
11.04
6.55
5.29
8.77
10.12
15.76
14.27
16.57
12.96
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
2,42,598
1,87,815
2,01,251
2,35,895
2,98,226
2,84,572
2,30,171
3,46,791
4,73,187
4,48,083
4,40,272
4,55,228
Expenses
2,32,818
1,74,844
1,87,468
2,20,578
2,83,113
2,75,597
2,09,170
3,27,654
4,62,288
4,04,001
4,14,870
4,14,026
Operating Profit
9,780
12,971
13,783
15,317
15,112
8,975
21,001
19,137
10,899
44,082
25,401
41,202
OPM %
4%
7%
7%
6%
5%
3%
9%
6%
2%
10%
6%
9%
Other Income
2,117
1,913
2,721
2,927
2,975
1,393
7,489
4,939
2,036
3,032
3,629
4,399
Interest
1,180
680
696
1,186
1,764
2,637
1,723
2,606
3,745
4,149
3,591
2,953
Depreciation
3,027
2,072
2,108
2,885
3,418
4,080
4,334
5,434
6,369
6,771
7,257
7,856
PBT
7,690
12,132
13,700
14,174
12,905
3,652
22,432
16,037
2,821
36,194
18,182
34,791
Tax %
34%
33%
31%
31%
34%
0%
23%
27%
24%
26%
27%
26%
Net Profit
5,082
8,089
9,507
9,792
8,528
3,666
17,320
11,682
2,131
26,859
13,337
25,843
EPS in Rs
11.08
18.64
20.1
20.76
17.98
7.04
37.26
26.93
4.91
61.91
30.74
59.57
Div. Payout %
34%
25%
49%
46%
48%
106%
102%
29%
40%
33%
32%
12%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
723
656
1,311
1,967
1,967
1,967
2,093
2,129
2,129
2,136
4,273
4,273
Reserves
21,839
27,138
29,508
34,652
36,798
34,565
51,462
49,776
51,393
73,499
77,112
95,898
Borrowings
25,492
23,388
35,725
37,659
44,839
65,476
54,532
64,534
69,376
54,599
61,101
54,424
Other Liabilities
38,268
35,241
42,541
46,078
53,322
48,852
52,891
71,089
65,210
72,184
75,898
94,021
Total Liabilities
86,322
86,422
1,09,086
1,20,356
1,36,926
1,50,860
1,60,978
1,87,529
1,88,109
2,02,418
2,18,382
2,48,616
Fixed Assets
29,109
25,358
33,684
45,539
49,315
60,175
64,098
83,901
86,675
86,798
88,628
1,10,141
CWIP
15,787
17,459
16,834
9,875
13,654
17,757
17,037
15,433
16,249
20,204
26,387
16,394
Investments
7,712
9,401
21,327
23,725
24,907
27,029
26,768
23,616
26,778
26,631
26,531
30,136
Other Assets
33,714
34,203
37,241
41,217
49,050
45,900
53,075
64,578
58,406
68,785
76,837
91,945
Total Assets
86,322
86,422
1,09,086
1,20,356
1,36,926
1,50,860
1,60,978
1,87,529
1,88,109
2,02,418
2,18,382
2,48,616
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
20,742
11,119
9,041
11,068
10,157
7,881
23,455
20,336
12,466
35,970
23,678
50,769
Investing
-10,536
-9,233
-15,274
-7,066
-10,451
-11,135
-2,474
-8,138
-7,806
-10,554
-19,180
-26,067
Financing
-9,792
-1,332
4,804
-4,218
207
3,583
-13,981
-17,672
-4,402
-25,427
-6,241
-24,940
Net Cash Flow
414
555
-1,429
-215
-87
329
7,000
-5,474
257
-12
-1,743
-238
Free Cash Flow
9,754
947
-417
3,384
-344
-4,289
14,403
12,643
4,514
26,425
8,574
31,733
CFO/OP
240
111
94
93
86
108
129
115
121
101
109
143
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
4
4
9
8
8
7
12
10
5
7
8
4
Inventory Days
29
34
45
41
32
32
52
51
32
42
43
51
Days Payable
22
19
24
27
25
19
32
37
20
27
29
41
Cash Conversion Cycle
12
19
30
21
16
20
33
24
17
21
22
14
Working Capital Days
-19
-18
-31
-19
-13
-30
-33
-29
-20
-21
-27
-32
ROCE %
17%
25%
24%
21%
18%
9%
18%
16%
7%
32%
16%
26%

Shareholding Pattern

As of Mar 2026
Promoters 52.98%
FIIs 19.58%
DIIs 18.53%
Public 5.75%
Others 2.74%
Government 0.43%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
52.98%
52.98%
52.98%
52.98%
52.98%
52.98%
52.98%
52.98%
52.98%
52.98%
52.98%
52.98%
52.98%
52.98%
52.98%
52.98%
52.98%
52.98%
52.98%
52.98%
52.98%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
12.55%
13.02%
14.21%
16.80%
15.03%
15.40%
14.71%
14.58%
15.45%
16.53%
18.46%
19.58%
DIIs
23.31%
22.36%
21.73%
21.14%
19.85%
20.70%
19.82%
21.80%
22.59%
23.11%
22.54%
22.13%
21.29%
21.31%
22.06%
22.27%
22.24%
22.17%
21.30%
19.56%
18.53%
Government
0.86%
0.86%
0.86%
0.86%
0.86%
0.86%
0.94%
0.94%
0.94%
0.94%
0.94%
0.94%
0.94%
0.94%
0.94%
0.94%
0.94%
0.94%
0.94%
0.43%
0.43%
Public
5.09%
7.62%
9.05%
9.40%
9.68%
9.49%
9.37%
9.03%
8.31%
7.87%
7.95%
7.24%
5.86%
7.51%
6.42%
6.71%
6.86%
6.16%
5.97%
5.82%
5.75%
Others
17.76%
16.18%
15.39%
15.62%
16.63%
15.98%
16.89%
15.26%
15.19%
2.56%
2.58%
2.50%
2.13%
2.22%
2.21%
2.39%
2.40%
2.30%
2.28%
2.75%
2.74%
No. of Shareholders
0
4,68,377
5,62,947
7,69,895
8,37,456
9,30,486
9,41,242
9,42,635
8,58,136
8,16,721
8,17,339
7,49,213
7,23,571
9,27,835
10,18,790
11,24,530
11,93,410
11,07,980
10,59,890
9,87,767
10,33,060

Documents

1
Concall - May 2026 May 2026
2
Concall - Jan 2026 Jan 2026
3
Concall - Jun 2015 Jun 2015
4
Concall - Sep 2015 Sep 2015
5
Concall - Nov 2015 Nov 2015

Frequently Asked Questions about Bharat Petroleum Corporation Ltd

What does Bharat Petroleum Corporation Ltd do?
Bharat Petroleum Corporation is a public sector company which is engaged in the business of refining of crude oil and marketing of petroleum products.[1]
Where is Bharat Petroleum Corporation Ltd (BPCL) listed?
Bharat Petroleum Corporation Ltd is listed on the Indian stock exchanges. It is listed on NSE: BPCL and BSE: 500547. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Bharat Petroleum Corporation Ltd belong to?
Bharat Petroleum Corporation Ltd operates in the Energy sector within the Petroleum Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Bharat Petroleum Corporation Ltd?
Bharat Petroleum Corporation Ltd has a market capitalisation of approximately ₹137769.24 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Bharat Petroleum Corporation Ltd?
The Price-to-Earnings (PE) ratio of Bharat Petroleum Corporation Ltd is 5.20. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Bharat Petroleum Corporation Ltd?
Over the past 52 weeks, Bharat Petroleum Corporation Ltd has traded between a low of ₹266.6 and a high of ₹391.65. This range helps investors understand the stock's price volatility and recent trading levels.
Does Bharat Petroleum Corporation Ltd pay dividends?
Yes, Bharat Petroleum Corporation Ltd has a dividend yield of 5.54%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Bharat Petroleum Corporation Ltd?
Bharat Petroleum Corporation Ltd has a Return on Equity (ROE) of 35.51%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Bharat Petroleum Corporation Ltd on Tapetide?
On Tapetide, you can view Bharat Petroleum Corporation Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Bharat Petroleum Corporation is a public sector company which is engaged in the business of refining of crude oil and marketing of petroleum products.[1]

Website bharatpetroleum.in
CEO Mr. Sanjay Khanna
Employees 8,747
Listed 1995-09-13
Face Value ₹ 10
Issued Size 4,33,85,05,488

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