BPCL

₹360.4 -0.8 | 0.2%

WEBSITE BSE:500547 NSE : BHARAT PET. 09 Jun, 13:44

Market Cap ₹78180 Cr.

Stock P/E 36.0

P/B 1.5

Current Price ₹360.4

Book Value ₹ 246.9

Face Value 10

52W High ₹374.9

Dividend Yield 1.11%

52W Low ₹ 288.2

Edit Ratio

BPCL Research see more...

Overview Inc. Year: 1952Industry: Refineries

Bharat Petroleum Corporation Limited is engaged in presenting motor spirit (MS), high speed diesel (HSD) and LPG. The Company is engaged within the enterprise of refining of crude oil and advertising and marketing of petroleum products. It operates thru two segments: Downstream petroleum, and Exploration and Production of Hydrocarbons (E&P). The Downstream petroleum section consists of refining and advertising of petroleum products. It is engaged in the manufacturing of liquid and gaseous fuels, illuminating oils, lubricating oils or greases or other products from crude petroleum or bituminous minerals. The Company also manufactures other petroleum merchandise, together with petroleum bitumen and different residues of petroleum oils or of oils acquired from bituminous minerals. Its advertising infrastructure consists of network of installations, depots, shops, aviation carrier stations and LPG distributors.

BPCL Share Price

Volume

Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

Quarterly Monthly

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Peer Comparison

BPCL Quarterly Results

#(Fig in Cr.)	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Net Sales	87293	99733	89712	101938	117703	123217	138425	128356	133348	133420
Other Income	735	677	419	659	589	602	329	347	339	483
Total Income	88027	100410	90131	102597	118291	123819	138754	128702	133687	133903
Total Expenditure	81838	93433	86587	96972	112579	117263	144249	126941	129135	122335
Operating Profit	6189	6977	3544	5624	5712	6556	-5495	1762	4552	11568
Interest	345	579	582	662	661	752	710	937	1128	970
Depreciation	1073	1124	1150	1349	1332	1603	1617	1561	1586	1605
Exceptional Income / Expenses	-485	6076	1299	48	-371	181	-109	-170	-189	-1175
Profit Before Tax	4285	11351	3111	3660	3348	4382	-7931	-906	1648	7818
Provision for Tax	1658	1144	499	935	994	1927	-1389	-72	166	1984
Profit After Tax	2627	10206	2612	2725	2354	2454	-6543	-835	1482	5834
Adjustments	-1062	95	261	476	451	348	395	496	265	1036
Profit After Adjustments	1565	10301	2873	3201	2805	2803	-6148	-338	1747	6870
Adjusted Earnings Per Share	8	49.2	13.5	15	13.2	13.2	-28.9	-1.6	8.2	32.3

BPCL Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	212140	242181	264421	242599	187815	201251	235895	298226	284572	230171	346791	533549
Other Income	1457	1693	1387	2120	1596	1909	1819	2038	2115	2504	2271	1498
Total Income	213596	243874	265808	244719	189410	203160	237714	300263	286687	232675	349062	535046
Total Expenditure	207327	235673	255049	232821	174878	187600	220758	283113	275826	208874	327656	522660
Operating Profit	6269	8201	10759	11898	14533	15560	16955	17150	10860	23801	21406	12387
Interest	2259	2518	1982	1180	680	696	1186	1764	2637	1975	2606	3745
Depreciation	2411	2463	2611	3027	2072	2108	2885	3418	4080	4334	5434	6369
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	-1892	5266	1135	-1643
Profit Before Tax	1599	3220	6166	7690	12132	13700	14174	12905	3652	22432	16037	629
Provision for Tax	748	1284	2113	2608	4043	4193	4382	4378	-14	5112	4355	689
Profit After Tax	851	1936	4053	5082	8089	9507	9792	8528	3666	17320	11682	-62
Adjustments	-70	-55	-142	-275	0	-786	-783	-726	-610	-1155	0	2192
Profit After Adjustments	781	1881	3911	4807	8089	8721	9009	7802	3055	16165	11682	2131
Adjusted Earnings Per Share	3.6	8.7	18	22.2	41.1	44.3	45.8	39.7	15.5	77.2	54.9	10

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	51%	5%	11%	5%
Operating Profit CAGR	-10%	8%	7%	13%
PAT CAGR	-33%	11%	4%	30%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	8%	-2%	-3%	11%
ROE Average	22%	24%	25%	23%
ROCE Average	18%	17%	18%	18%

BPCL Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	15880	16776	19440	22562	27793	30820	36619	38765	36532	53555	51906
Minority's Interest	1035	1077	1147	1286	1678	1958	1905	2070	2056	0	0
Borrowings	6189	12702	21998	19342	21097	23255	28904	34316	38044	35740	36359
Other Non-Current Liabilities	2366	2950	2678	2928	4859	5753	7118	8666	14006	13979	16196
Total Current Liabilities	52344	46046	43198	40204	30994	47300	45810	53110	60222	57704	83068
Total Liabilities	77814	79550	88460	86322	86422	109086	120356	136926	150860	160978	187529
Fixed Assets	24988	24721	27580	29109	25359	33684	45539	49315	60142	64098	83901
Other Non-Current Assets	8407	11741	14265	20848	29617	37493	34216	38830	47467	44805	41628
Total Current Assets	44419	43061	46515	36294	31447	37899	40583	48768	43231	52053	61987
Total Assets	77814	79550	88460	86322	86422	109086	120356	136926	150860	160978	187529

BPCL Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	-13013	1326	2804	1741	1482	2037	502	287	200	529	7529
Cash Flow from Operating Activities	1907	5926	9588	20742	11119	9041	11068	10157	7881	23455	20336
Cash Flow from Investing Activities	-2276	-3604	-6881	-10536	-9233	-15274	-7066	-10451	-11135	-2474	-8138
Cash Flow from Financing Activities	-4379	-846	-3736	-9792	-1332	4804	-4218	207	3583	-13981	-17672
Net Cash Inflow / Outflow	-4748	1476	-1029	414	555	-1429	-215	-87	329	7000	-5474
Closing Cash & Cash Equivalent	-17761	2804	1741	2710	2037	608	287	200	529	7529	2056

BPCL Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	3.6	8.67	18.03	22.16	41.13	44.34	45.8	39.67	15.53	77.24	54.86
CEPS(Rs)	15.04	20.28	30.72	37.38	51.66	59.05	64.45	60.73	39.38	103.46	80.38
DPS(Rs)	11	11	17	22.5	31	32.5	21	19	16.5	79	16
Book NAV/Share(Rs)	73.2	77.21	89.09	103.62	141.31	156.69	186.18	197.09	185.74	251.8	243.75
Core EBITDA Margin(%)	2.16	2.57	3.4	3.78	5.9	5.6	5.42	4.43	2.65	7	4.42
EBIT Margin(%)	1.73	2.27	2.95	3.43	5.84	5.91	5.5	4.3	1.91	8.02	4.31
Pre Tax Margin(%)	0.72	1.27	2.23	2.97	5.53	5.62	5.07	3.79	1.11	7.37	3.71
PAT Margin (%)	0.38	0.76	1.47	1.96	3.69	3.9	3.5	2.5	1.11	5.69	2.7
Cash Profit Margin (%)	1.46	1.74	2.41	3.13	4.63	4.77	4.54	3.5	2.35	7.12	3.96
ROA(%)	1.18	2.46	4.82	5.82	9.37	9.73	8.54	6.63	2.55	11.11	6.7
ROE(%)	5.45	11.87	22.47	24.31	32.18	32.44	29.04	22.63	9.74	38.82	22.33
ROCE(%)	8.93	11.96	15.91	17.66	25.84	24.46	21.81	18.58	6.99	24.82	17.85
Receivable days	6.48	6.89	5.88	5.25	4.26	5.26	6.54	6.49	6.8	7.92	7.4
Inventory Days	32.13	29.58	28.51	28.62	26.68	26.83	28.56	24.34	25	29.36	29.06
Payable days	20.91	18.32	16.65	21.62	24.34	21.01	24	23.08	22.36	28.61	28.04
PER(x)	32.38	14.54	8.51	12.18	7.31	9.76	9.34	9.99	20.35	5.54	6.55
Price/Book(x)	1.59	1.63	1.72	2.61	2.13	2.76	2.3	2.01	1.7	1.7	1.47
Dividend Yield(%)	1.57	2.91	3.69	2.78	3.44	5.01	4.91	4.79	5.22	18.46	4.45
EV/Net Sales(x)	0.26	0.24	0.24	0.33	0.42	0.59	0.51	0.41	0.42	0.56	0.38
EV/Core EBITDA(x)	8.63	7.03	5.96	6.78	5.39	7.64	7.11	7.12	11.11	5.39	6.11
Net Sales Growth(%)	37.96	14.16	9.18	-8.25	-22.58	7.15	17.21	26.42	-4.58	-19.12	50.67
EBIT Growth(%)	-5.78	48.73	41.98	8.88	44.43	12.36	6.69	-4.49	-57.13	288.12	-23.62
PAT Growth(%)	-51.13	127.44	109.33	25.39	59.17	17.53	3	-12.91	-57.01	372.47	-32.55
EPS Growth(%)	-53.67	140.87	107.92	22.91	85.6	7.81	3.3	-13.39	-60.84	397.21	-28.98
Debt/Equity(x)	1.9	1.98	1.72	1.13	0.84	1.16	1.03	1.16	1.63	0.89	1.09
Current Ratio(x)	0.85	0.94	1.08	0.9	1.01	0.8	0.89	0.92	0.72	0.9	0.75
Quick Ratio(x)	0.45	0.5	0.54	0.47	0.54	0.35	0.39	0.49	0.35	0.44	0.24
Interest Cover(x)	1.71	2.28	4.11	7.51	18.83	20.67	12.95	8.32	2.38	12.36	7.15
Total Debt/Mcap(x)	1.19	1.21	1	0.44	0.36	0.38	0.41	0.52	0.87	0.51	0.73

BPCL Shareholding Pattern

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	52.98	52.98	52.98	52.98	52.98	52.98	52.98	52.98	52.98	52.98
FII	11.56	12.42	12.63	11.97	12.66	13.69	13.17	12.96	12.53	12.58
DII	20.93	24.17	23.22	22.59	22	20.71	21.56	21.84	22.74	23.53
Public	14.53	10.43	11.18	12.46	12.36	12.62	12.29	12.22	11.76	10.92
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	114.92	114.92	114.92	114.92	114.92	114.92	114.92	114.92	114.92	114.92
FII	25.08	26.95	27.39	25.98	27.47	29.69	28.57	28.11	27.17	27.28
DII	45.4	52.43	50.37	49	47.72	44.93	46.77	47.38	49.33	51.04
Public	31.53	22.62	24.25	27.03	26.82	27.38	26.66	26.51	25.5	23.69
Others	0	0	0	0	0	0	0	0	0	0
Total	216.93	216.93	216.93	216.93	216.93	216.93	216.93	216.93	216.93	216.93

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 24%
Debtor days have improved from 28.61 to 28.04days.

Cons

The company has delivered a poor profit growth of 4% over past five years.

* 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.