Bharat Petroleum Corporation Ltd

₹ 321 -0.83%

07 Aug - 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

Refining and Marketing Scale:^[1]

BPCL operates the Mumbai, Kochi and Bina refineries with combined capacity of 35.3 MMTPA, around 14% of India's refining capacity. FY26 refinery throughput reached 41.15 MMT, implying sustained operation above nameplate capacity, while distillate yield improved to 84.54%.^[1]^[2]
Domestic petroleum-product sales rose to 54.18 MMT in FY26, giving BPCL a 27.27% market share; the network expanded to 25,323 retail outlets.^[1]
In LPG, BPCL had a 27.53% market share, 57 bottling plants, over 6,278 distributors
and approximately 8.6 crore customer connections in FY26.^[1]
The wider network also includes industrial customers, aviation stations, lubricant-blending plants and city-gas geographical areas, keeping BPCL present across refining, logistics and multiple fuel-distribution channels.^[3]

Website BSE NSE

Market Cap ₹ 1,38,538 Cr.
Current Price ₹ 321
High / Low ₹ 392 / 267
Stock P/E 8.94
Book Value ₹ 231
Dividend Yield 5.45 %
ROCE 25.6 %
ROE 28.8 %
Face Value ₹ 10.0

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Pros

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%

Cons

* 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

Energy Oil, Gas & Consumable Fuels Petroleum Products Refineries & Marketing

Part of BSE 500 BSE 100 BSE 200 BSE Dollex 200 BSE PSU Nifty Next 50 Nifty 500 BSE Oil & Gas Nifty Energy Nifty 100 BSE Dollex 100 Nifty Infrastructure Nifty PSE Nifty 200 Nifty Commodities Nifty Dividend Opportunities 50 BSE CPSE Nifty 100 Equal Weight BSE Energy BSE SENSEX Next 50 BSE Bharat 22 Index BSE 100 ESG Index (INR) BSE 250 LargeMidCap Index BSE Dividend Stability Index BSE Enhanced Value Index BSE Momentum Index BSE 100 LargeCap TMC Index Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 Nifty Oil & Gas Nifty100 ESG Nifty India Manufacturing Nifty Total Market Nifty500 Shariah Nifty500 Multicap Infrastructure 50:30:20 Nifty500 Value 50 Nifty100 Enhanced ESG Nifty Alpha Quality Value Low-Volatility 30 BSE 200 Equal Weight BSE Power & Energy BSE Sensex Sixty 65:35 Nifty 100 Alpha 30 Index NIFTY Mobility Nifty200 Value 30 Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted Nifty500 Multifactor MQVLv50 BSE India 150 BSE 1000 BSE 500 Momentum 50 BSE 500 Dividend Leaders 50 Nifty India Railways PSU Nifty India FPI 150

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	112,985	103,044	115,499	116,555	113,095	102,785	113,166	111,230	112,551	104,946	119,029	118,701	151,277
	97,200	90,104	109,300	107,600	107,468	98,268	105,710	103,494	102,874	95,185	107,343	109,067	155,332
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%	5.0%	4.4%	7%	7%	9%	9%	10%	8%	-2.7%
	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
Profit before tax	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%
	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	19.00	7.33	11.04	6.55	5.29	8.77	10.12	15.76	14.27	16.57	12.96	-4.32
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	242,598	187,815	201,251	235,895	298,226	284,572	230,171	346,791	473,187	448,083	440,272	455,228	493,954
	232,818	174,844	187,468	220,578	283,113	275,597	209,170	327,654	462,288	404,001	414,870	414,026	466,927
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 %	4.0%	7%	7%	6%	5%	3.1%	9%	6%	2.3%	10%	6%	9%	5%
	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
Profit before tax	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%
	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	20.10	20.76	17.98	7.04	37.26	26.93	4.91	61.91	30.74	59.57	39.48
Dividend Payout %	34%	25%	49%	46%	48%	106%	102%	29%	40%	33%	32%	29%

Compounded Sales Growth
10 Years:	9%
5 Years:	15%
3 Years:	-1%
TTM:	12%

Compounded Profit Growth
10 Years:	12%
5 Years:	16%
3 Years:	107%
TTM:	-12%

Stock Price CAGR
10 Years:	5%
5 Years:	7%
3 Years:	22%
1 Year:	3%

Return on Equity
10 Years:	24%
5 Years:	24%
3 Years:	29%
Last Year:	29%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 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
	25,492	23,388	35,725	37,659	44,839	65,476	54,532	64,534	69,376	54,599	61,101	54,424
	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	109,086	120,356	136,926	150,860	160,978	187,529	188,138	202,418	218,382	248,616
	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
	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	109,086	120,356	136,926	150,860	160,978	187,529	188,138	202,418	218,382	248,616

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	20,742	11,119	9,041	11,068	10,157	7,881	23,455	20,336	12,466	35,936	23,678	50,769
	-10,536	-9,233	-15,274	-7,066	-10,451	-11,135	-2,474	-8,138	-7,806	-10,521	-19,180	-26,067
	-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%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 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%

Insights

In beta

Mar 2016

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Mar 2022

Mar 2023

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Mar 2025

Market Sales
MMT

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Refinery Crude Throughput
MMT

Throughput per Retail Outlet
KL/month

Gross Refining Margin (GRM)
$/barrel

High Speed Diesel (HSD) Market Share
% ・Standalone data

Motor Spirit (MS/Petrol) Market Share
% ・Standalone data

Retail Outlets
Number

Refinery Capacity Utilization
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	52.98%	52.98%	52.98%	52.98%	52.98%	52.98%	52.98%	52.98%	52.98%	52.98%	52.98%	52.98%
	13.01%	14.21%	16.79%	15.04%	15.39%	14.71%	14.58%	15.45%	16.53%	18.46%	19.57%	16.84%
	22.53%	22.13%	21.30%	21.31%	22.06%	22.27%	22.23%	22.18%	21.31%	19.56%	18.52%	21.07%
	0.94%	0.94%	0.94%	0.94%	0.94%	0.94%	0.94%	0.94%	0.94%	0.43%	0.43%	0.86%
	10.21%	9.44%	8.00%	9.73%	8.63%	9.09%	9.26%	8.46%	8.25%	8.58%	8.48%	8.25%
	0.32%	0.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
No. of Shareholders	8,17,339	7,49,213	7,23,571	10,39,006	10,18,794	11,24,533	11,93,412	11,07,983	10,59,886	9,87,767	10,33,057	10,50,341

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	54.93%	54.31%	53.29%	52.98%	52.98%	52.98%	52.98%	52.98%	52.98%	52.98%	52.98%
	22.53%	19.81%	15.64%	12.28%	12.42%	13.69%	12.57%	16.79%	14.58%	19.57%	16.84%
	6.74%	10.03%	15.32%	19.61%	23.31%	19.85%	22.59%	21.30%	22.23%	18.52%	21.07%
	0.86%	0.86%	0.86%	0.86%	0.86%	0.86%	0.94%	0.94%	0.94%	0.43%	0.86%
	14.93%	14.99%	14.88%	14.27%	8.43%	12.31%	10.61%	8.00%	9.26%	8.48%	8.25%
	0.00%	0.00%	0.00%	0.00%	2.00%	0.32%	0.32%	0.00%	0.00%	0.00%	0.00%
No. of Shareholders	1,25,579	1,56,443	1,78,718	2,23,139	4,68,377	9,30,486	8,58,136	7,23,571	11,93,412	10,33,057	10,50,341

* 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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