Bharat Petroleum Corporation Ltd

Bharat Petroleum Corporation is engaged in the business of refining of crude oil and marketing of petroleum products.(Source : 201903 Annual Report Page No: 189)

Pros:
Stock is providing a good dividend yield of 3.55%.
Company has been maintaining a healthy dividend payout of 52.40%
Cons:

Peer Comparison Sector: Refineries // Industry: Refineries

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
44,693 53,543 57,036 57,134 53,331 60,623 65,253 71,735 72,292 79,209 73,990 76,318
43,311 50,226 54,824 55,901 49,798 57,416 61,507 67,822 69,872 78,431 69,185 74,138
Operating Profit 1,381 3,316 2,212 1,233 3,533 3,207 3,746 3,913 2,419 778 4,805 2,180
OPM % 3% 6% 4% 2% 7% 5% 6% 5% 3% 1% 6% 3%
Other Income 1,022 551 662 649 795 709 833 510 538 927 1,058 538
Interest 102 135 148 179 235 200 220 302 328 337 353 452
Depreciation 452 484 524 589 641 677 742 739 757 778 915 914
Profit before tax 1,849 3,249 2,203 1,114 3,453 3,038 3,618 3,382 1,873 590 4,595 1,352
Tax % 29% 30% 16% 33% 32% 29% 26% 32% 35% 16% 32% 20%
Net Profit 1,305 2,272 1,842 745 2,357 2,144 2,689 2,293 1,219 495 3,125 1,075
EPS in Rs 6.02 11.55 9.36 2.53 11.99 10.90 13.67 11.66 6.20 2.52 15.89 5.47
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
110,208 134,063 121,765 151,639 211,973 240,116 260,075 238,087 188,405 202,211 236,421 297,275 301,809
107,362 130,840 119,170 147,899 208,042 233,830 251,932 229,772 177,259 191,345 224,480 285,311 291,627
Operating Profit 2,846 3,223 2,595 3,740 3,931 6,286 8,143 8,315 11,146 10,866 11,941 11,964 10,182
OPM % 3% 2% 2% 2% 2% 3% 3% 3% 6% 5% 5% 4% 3%
Other Income 1,521 1,022 2,023 1,427 1,638 1,501 1,412 2,200 1,655 2,564 2,831 2,984 3,061
Interest 672 2,166 1,011 1,117 1,800 1,825 1,359 583 565 496 833 1,319 1,470
Depreciation 1,098 1,076 1,242 1,655 1,885 1,926 2,247 2,516 1,845 1,891 2,653 3,189 3,364
Profit before tax 2,596 1,003 2,365 2,395 1,884 4,036 5,949 7,416 10,391 11,043 11,286 10,440 8,409
Tax % 39% 27% 35% 35% 30% 35% 32% 31% 32% 27% 29% 32%
Net Profit 1,581 736 1,538 1,547 1,311 2,643 4,061 5,085 7,056 8,039 7,976 7,132 5,914
EPS in Rs 7.24 3.25 6.75 6.80 5.78 11.60 17.81 22.08 34.85 36.66 40.55 36.26 30.08
Dividend Payout % 9% 34% 33% 33% 30% 30% 30% 32% 29% 53% 52% 52%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:8.29%
5 Years:2.71%
3 Years:16.42%
TTM:20.27%
Compounded Profit Growth
10 Years:21.69%
5 Years:11.77%
3 Years:-0.05%
TTM:-37.64%
Stock Price CAGR
10 Years:18.63%
5 Years:16.95%
3 Years:3.01%
1 Year:63.98%
Return on Equity
10 Years:21.61%
5 Years:24.81%
3 Years:23.93%
Last Year:19.86%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
362 362 362 362 362 723 723 723 656 1,311 1,967 1,967
Reserves 11,315 11,767 12,725 13,696 14,552 15,911 18,736 21,744 26,667 28,881 32,621 35,228
Borrowings 15,022 21,171 22,195 18,960 22,994 23,839 20,322 13,098 15,857 23,159 23,351 29,099
16,366 14,694 19,035 23,911 28,604 27,332 33,561 35,349 32,879 40,111 44,041 50,856
Total Liabilities 43,065 47,994 54,317 56,929 66,512 67,805 73,341 70,914 76,060 93,463 101,980 117,149
11,969 11,966 13,669 15,999 16,612 16,690 19,040 20,315 23,207 31,437 43,028 46,488
CWIP 767 2,037 2,518 972 1,119 2,420 3,065 7,666 12,664 11,623 4,408 7,066
Investments 10,318 18,078 13,501 12,037 10,917 12,103 11,847 12,391 12,811 14,601 15,626 15,992
20,011 15,912 24,628 27,920 37,863 36,592 39,390 30,543 27,377 35,802 38,918 47,604
Total Assets 43,065 47,994 54,317 56,929 66,512 67,805 73,341 70,914 76,060 93,463 101,980 117,149

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
417 6,212 -1,515 3,082 926 5,480 8,404 18,183 10,179 7,897 9,009 7,645
-3,554 -9,909 1,538 1,750 -891 -2,387 -4,286 -7,909 -7,975 -10,130 -4,741 -7,537
-198 -2,285 652 -1,817 -4,713 -1,743 -6,244 -9,121 -1,840 567 -4,423 -87
Net Cash Flow -3,335 -5,982 675 3,015 -4,678 1,350 -2,126 1,153 364 -1,666 -155 21

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 13% 12% 10% 11% 11% 15% 18% 21% 28% 24% 22% 19%
Debtor Days 5 4 8 6 11 6 6 4 4 9 8 8
Inventory Turnover 11.44 15.38 12.92 11.07 13.53 14.71 14.54 14.20 13.34 12.04 11.63 14.02