Bharat Petroleum Corporation Ltd

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Bharat Petroleum Corporation Ltd

₹ 345 -0.85%
24 Mar - close price
bharatpetroleum.in BSE: 500547 NSE : BPCL
About

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]

Key Points

Refineries Capacity
Total Capacity - 35.3 MMTPA
Refinery Locations:
Mumbai - 12 MMTPA
Kochi - 15.5 MMTPA
Bina, Madhya Pradesh - 7.8 MMTPA [1]
It possesses 14-15% of the country's total refining capacity. [2]

Website BSE NSE
  • Market Cap ₹ 74,926 Cr.
  • Current Price ₹ 345
  • High / Low ₹ 399 / 288
  • Stock P/E
  • Book Value ₹ 216
  • Dividend Yield 4.63 %
  • ROCE 15.6 %
  • ROE 20.4 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 79.2%

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 11.5% over past five years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.2,834 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Refineries Industry: Refineries

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
74,959 68,998 37,999 49,409 66,075 76,688 70,946 76,439 95,121 104,080 121,082 114,820 119,170
71,857 69,578 33,739 44,215 61,349 70,366 67,821 71,474 90,019 98,126 126,906 113,406 114,957
Operating Profit 3,102 -580 4,260 5,193 4,726 6,322 3,125 4,965 5,102 5,954 -5,824 1,415 4,213
OPM % 4% -1% 11% 11% 7% 8% 4% 6% 5% 6% -5% 1% 4%
1,003 -646 585 -14 251 7,167 1,979 1,131 688 1,131 615 673 415
Interest 626 689 691 108 345 579 582 611 660 752 710 937 1,128
Depreciation 1,045 1,043 1,073 1,065 1,073 1,124 1,150 1,349 1,394 1,603 1,617 1,561 1,586
Profit before tax 2,434 -2,959 3,081 4,007 3,559 11,786 3,372 4,136 3,737 4,730 -7,537 -410 1,913
Tax % 16% 39% 29% 35% 47% 10% 15% 23% 26% 41% 18% 17% 9%
Net Profit 2,051 -1,820 2,188 2,590 1,901 10,642 2,873 3,201 2,759 2,803 -6,148 -338 1,747
EPS in Rs 8.19 -8.52 9.38 10.43 7.22 47.49 13.24 14.76 12.72 12.92 -28.34 -1.56 8.05
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
153,765 212,140 242,181 264,421 242,598 187,815 201,251 235,895 298,226 284,572 230,171 346,791 459,152
149,115 207,178 235,472 255,007 232,818 174,844 187,468 220,578 283,113 275,597 209,170 327,654 453,394
Operating Profit 4,650 4,961 6,709 9,414 9,780 12,971 13,783 15,317 15,112 8,975 21,001 19,137 5,758
OPM % 3% 2% 3% 4% 4% 7% 7% 6% 5% 3% 9% 6% 1%
1,336 1,308 1,492 1,344 2,117 1,913 2,721 2,927 2,975 1,393 7,489 4,939 2,834
Interest 1,266 2,259 2,518 1,982 1,180 680 696 1,186 1,764 2,637 1,723 2,606 3,528
Depreciation 1,891 2,411 2,463 2,611 3,027 2,072 2,108 2,885 3,418 4,080 4,334 5,434 6,367
Profit before tax 2,829 1,599 3,220 6,166 7,690 12,132 13,700 14,174 12,905 3,652 22,432 16,037 -1,303
Tax % 38% 47% 40% 34% 34% 33% 31% 31% 34% -0% 23% 27%
Net Profit 1,742 851 1,936 4,053 5,082 8,089 9,507 9,792 8,528 3,666 17,320 11,682 -1,937
EPS in Rs 7.54 3.60 8.67 18.03 22.16 37.29 40.20 41.53 35.97 14.08 74.52 53.85 -8.93
Dividend Payout % 35% 55% 42% 31% 34% 25% 49% 46% 48% 106% 102% 29%
Compounded Sales Growth
10 Years: 5%
5 Years: 12%
3 Years: 5%
TTM: 44%
Compounded Profit Growth
10 Years: 29%
5 Years: 4%
3 Years: 11%
TTM: -112%
Stock Price CAGR
10 Years: 11%
5 Years: -4%
3 Years: 8%
1 Year: -4%
Return on Equity
10 Years: 23%
5 Years: 22%
3 Years: 21%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
362 362 723 723 723 656 1,311 1,967 1,967 1,967 2,093 2,129 2,129
Reserves 14,989 15,518 16,052 18,703 21,825 27,138 29,508 34,652 36,798 34,565 51,462 49,776 44,637
25,038 30,153 33,157 33,152 25,492 23,388 35,725 37,659 44,839 65,476 54,532 64,534 81,038
26,402 31,781 29,696 35,882 38,281 35,241 42,541 46,078 53,322 48,852 52,891 71,089 68,966
Total Liabilities 66,791 77,814 79,628 88,460 86,322 86,422 109,086 120,356 136,926 150,860 160,978 187,529 196,771
19,658 24,988 24,721 27,580 29,109 25,358 33,684 45,539 49,315 60,175 64,098 83,901 95,735
CWIP 8,209 4,534 7,463 9,372 15,787 17,459 16,834 9,875 13,654 17,757 17,037 15,433 6,165
Investments 9,089 7,891 7,470 6,985 7,712 9,401 21,327 23,725 24,907 27,029 26,768 23,616 26,504
29,835 40,401 39,974 44,523 33,714 34,203 37,241 41,217 49,050 45,900 53,075 64,578 68,366
Total Assets 66,791 77,814 79,628 88,460 86,322 86,422 109,086 120,356 136,926 150,860 160,978 187,529 196,771

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
3,676 1,907 5,926 9,588 20,742 11,119 9,041 11,068 10,157 7,881 23,455 20,336
-453 -2,276 -3,604 -6,881 -10,536 -9,233 -15,274 -7,066 -10,451 -11,135 -2,474 -8,138
-177 -4,379 -846 -3,736 -9,792 -1,332 4,804 -4,218 207 3,583 -13,981 -17,672
Net Cash Flow 3,047 -4,748 1,476 -1,029 414 555 -1,429 -215 -87 329 7,000 -5,474

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 6 9 7 6 4 4 9 8 8 7 12 10
Inventory Days 48 40 33 35 29 34 45 41 32 32 52 51
Days Payable 24 25 15 20 22 19 24 27 25 19 32 37
Cash Conversion Cycle 31 24 25 22 12 19 30 21 16 20 33 24
Working Capital Days 3 12 14 10 -17 -18 -16 -6 -3 -7 -15 -8
ROCE % 11% 9% 12% 16% 18% 26% 25% 22% 19% 9% 18% 16%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
52.98 52.98 52.98 52.98 52.98 52.98 52.98 52.98 52.98 52.98 52.98 52.98
12.28 11.95 11.98 11.56 12.42 12.63 11.97 12.66 13.69 13.17 12.96 12.53
19.61 20.48 20.57 20.07 23.31 22.36 21.73 21.14 19.85 20.70 20.90 21.80
0.86 0.86 0.86 0.86 0.86 0.86 0.86 0.86 0.86 0.86 0.94 0.94
14.27 13.73 13.61 12.53 8.43 10.86 12.15 12.05 12.31 11.98 12.23 11.44
0.00 0.00 0.00 2.00 2.00 0.32 0.32 0.32 0.32 0.32 0.00 0.32

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Concalls

  • Aug 2016
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