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
8.13
EBITDA
₹44,501 Cr
Return on Equity
25.8%
Debt to Equity
0.54
Book Value
₹231.13
EPS
₹44.92
52W High
₹391.65
52W Low
₹266.6

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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47 extracted metrics + investor summaries across FY06–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

3
  • Stock is providing a good dividend yield of 5.45%.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.6%
  • Company has been maintaining a healthy dividend payout of 31.5%

Growth Rate

Revenue Growth
3.52% ↘
Net Income Growth
93.78% ↗
Cash Flow Change
114.42% ↗
ROE
57.41% ↗
ROCE
54.60% ↗
EBITDA Margin (Avg.)
53.15% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

BPCL trades at a PE of 8.2x with a market cap of ~₹1.41 lakh crore and offers a dividend yield of 5.36%. The company posted FY25 net profit of ₹13,337 crore (down 50% from ₹26,859 crore in FY24), while undertaking a large ₹48,926 crore Bina refinery expansion project to grow refining and petrochemical capacity.

Bull Case 8
  • Strong 3-year ROE of 28.6% and 5-year ROE of 24%, indicating efficient capital deployment relative to peers in the petroleum sector
  • Attractive dividend yield of 5.36% with a consistent payout ratio of ~26%, providing meaningful income return to shareholders
  • Valuation appears undemanding at PE of 8.2x, well below broader market multiples, reflecting sector cyclicality already priced in
  • Refinery throughput grew to 40.51 MMT in FY25 from 39.93 MMT in FY24, with domestic market sales rising 2.7% to 52.40 MMT, showing steady volume growth
  • Major capacity expansion underway: ₹48,926 crore Bina refinery project to raise capacity from 7.8 MTPA to 11 MTPA and add a 1.2 MTPA ethylene cracker, positioning BPCL in higher-margin petrochemicals
  • FY26 capex target raised 42% YoY to ₹18,500 crore, signaling management confidence in long-term demand growth across refining and marketing
  • FY26 consolidated net profit recovered sharply to ₹25,843 crore from ₹13,337 crore in FY25, demonstrating earnings can rebound quickly when margins normalize
  • Extensive nationwide marketing network of 23,500+ fuel stations and 6,200+ LPG distributors provides a durable competitive moat and volume visibility
Bear Case 8
  • FY25 net profit fell 50% YoY from ₹26,859 crore to ₹13,337 crore, highlighting extreme earnings volatility inherent to the downstream oil sector
  • Q1 FY26 GRM collapsed to $4.88/bbl from $7.86/bbl a year earlier and $9.2/bbl in Q4 FY25, showing rapid margin compression risk
  • Q1 FY27 saw a net loss of ₹3,962 crore — the first quarterly loss in 15 quarters — demonstrating vulnerability to crude price spikes and regulated fuel pricing
  • Debt-to-equity ratio stands at approximately 0.54x, and the ₹31,802 crore loan tied up for the Bina expansion will increase leverage further during the capex cycle
  • Compounded 3-year sales CAGR is negative at -1%, reflecting revenue stagnation despite volume growth due to oil price fluctuations
  • Government retains 52.98% stake and privatization has been shelved indefinitely since 2022, limiting strategic flexibility and keeping fuel pricing subject to political intervention
  • TTM profit growth is -12%, showing the current earnings trajectory is declining even as capex commitments are rising
  • Stock CAGR of only 5% over 10 years underperforms broader indices significantly, suggesting structural challenges in long-term wealth creation for shareholders

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
  • Q1FY27 net loss ₹3,962 crore Jul 22

    BPCL reported a standalone net loss of ₹3,962.13 crore for Q1FY27, reversing from a profit of ₹3,191.49 crore in Q4FY26. EBITDA turned negative at ₹40.77 billion due to suppressed marketing margins.

  • Consolidated loss from JV conversion Jul 22

    Consolidated net loss stood at ₹1,872.70 crore, impacted by exceptional items from a joint venture conversion alongside weak marketing margins.

Positives 2
  • BRSR highlights decarbonization progress Aug 3

    BPCL published its FY 2025-26 BRSR report highlighting decarbonization milestones, renewable energy expansion, and CSR investments of ₹267.17 crore.

  • Spot oil procurement up to 69% Jul 23

    Spot market oil purchases surged to 69% in Q1FY27 from 44% a year ago, with Russian crude processing rising to 38%, indicating improved feedstock flexibility and potential cost optimization.

Neutral 6
  • Investor meets at broker conferences Aug 7

    BPCL scheduled analyst meets on Aug 12 and Aug 19, 2026 at EMKAY Confluence and Motilal Oswal Global Investor Conference in Mumbai.

  • 73rd AGM on August 27 Aug 3

    BPCL will hold its 73rd AGM on August 27, 2026 with agenda items including digital payments expansion and new director appointments.

  • New Chief Procurement Officer appointed Aug 1

    Amit Kumar appointed as Chief Procurement Officer effective August 1, 2026, succeeding Kani Amudhan N who superannuated.

  • CMD Khanna gets extended charge Jul 30

    Ministry of Petroleum & Natural Gas extended additional charge of Director (Refineries) to CMD Sanjay Khanna.

  • Q1FY27 earnings call recording posted Jul 23

    Audio recording of Q1FY27 earnings call held on July 23, 2026 made available in compliance with SEBI regulations.

  • ₹22.72 crore block trade on NSE Jul 20

    Block trade of approximately 7.3 lakh shares at ₹311.10 per share totalling ₹22.72 crore, indicating institutional-level participation.

TL;DR: BPCL faces a difficult quarter with a sharp reversal to a ₹3,962 crore standalone net loss in Q1FY27 driven by suppressed marketing margins, representing the key near-term risk. On the positive side, the company is diversifying crude sourcing with spot purchases at 69% and advancing its sustainability agenda. Management engagement with investors at upcoming conferences may provide clarity on margin recovery. The trend is deteriorating on earnings but operational flexibility on procurement offers some cushion going forward.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
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
1,51,277
Expenses
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
1,55,332
Operating Profit
15,785
12,941
6,199
8,955
5,627
4,517
7,456
7,737
9,678
9,761
11,687
9,634
-4,055
OPM %
14%
13%
5%
8%
5%
4.4%
7%
7%
9%
9%
10%
8%
-2.7%
Other Income
1,003
911
919
403
807
1,278
548
1,061
1,840
1,375
687
940
3,535
Interest
1,071
1,190
920
967
889
923
861
919
758
833
657
705
627
Depreciation
1,614
1,605
1,830
1,722
1,686
1,779
1,810
1,982
1,889
1,958
1,979
2,031
2,069
PBT
14,103
11,056
4,367
6,669
3,859
3,094
5,333
5,897
8,872
8,345
9,737
7,838
-3,216
Tax %
25%
25%
27%
28%
26%
26%
29%
26%
23%
26%
26%
28%
-42%
Net Profit
10,644
8,244
3,181
4,790
2,842
2,297
3,806
4,392
6,839
6,191
7,188
5,625
-1,873
EPS in Rs
24.53
19
7.33
11.04
6.55
5.29
8.77
10.12
15.76
14.27
16.57
12.96
-4.32
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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
4,93,954
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
4,66,927
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
27,027
OPM %
4%
7%
7%
6%
5%
3.1%
9%
6%
2.3%
10%
6%
9%
5%
Other Income
2,117
1,913
2,721
2,927
2,975
1,393
7,489
4,939
2,554
3,032
3,629
4,399
6,536
Interest
1,180
680
696
1,186
1,764
2,637
1,723
2,606
4,263
4,149
3,591
2,953
2,823
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
8,036
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
22,704
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
17,132
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
39.48
Div. Payout %
34%
25%
49%
46%
48%
106%
102%
29%
40%
33%
32%
29%
—
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
65,240
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
1,88,138
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
93,624
CWIP
15,787
17,459
16,834
9,875
13,654
17,757
17,037
15,433
16,249
20,204
26,387
32,911
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
58,436
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
1,88,138
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
35,936
23,678
50,769
Investing
-10,536
-9,233
-15,274
-7,066
-10,451
-11,135
-2,474
-8,138
-7,806
-10,521
-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
3,960
26,391
8,574
31,476
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
-34
ROCE %
17%
25%
24%
21%
18%
9%
18%
16%
7%
32%
16%
26%

Shareholding Pattern

As of Jun 2026
Promoters 52.98%
DIIs 21.07%
FIIs 16.84%
Public 5.93%
Others 2.32%
Government 0.86%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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%
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%
16.84%
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%
21.07%
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%
0.86%
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%
5.93%
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%
2.32%
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
10,50,340

Documents

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 Petroleum Products sector within the Refineries & Marketing 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 ₹139504.64 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 8.13. 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 5.41%. 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 25.80%. 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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