BPCL logo

BPCL

BPCL NSE

Key Fundamentals

LargecapRefineries & MarketingPetroleum Products
Market Cap
1.3L Cr
Volatility
Moderate
P/E Ratio
7.71
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

Tapetide Score

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

Key Insights

Strengths

3
  • Stock is providing a good dividend yield of 5.75%.
  • 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% higher than 3Y
Net Income Growth
93.78% lower than 3Y
Cash Flow Change
114% higher than 3Y
ROE
57.41% higher than 3Y
ROCE
54.6% higher than 3Y
EBITDA Margin (Avg.)
53.15% higher than 3Y

AI Analysis — Bull vs Bear

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

Bharat Petroleum Corporation Ltd trades at a market cap of ₹1,28,810 Cr with a PE of 7.7x and dividend yield of 5.78%. The company has delivered a 3-year ROE of 29% and 10-year compounded profit growth of 12%, though TTM profit has declined 12% and the stock has returned -4% over the past year.

Bull Case 8
  • Attractive valuation with PE of 7.7x, well below broader market multiples, suggesting earnings are available at a discount relative to many large-caps
  • High dividend yield of 5.78% with a consistent payout ratio of 31.5%, offering meaningful income to shareholders
  • Strong 3-year ROE of 29% and 5-year ROE of 24%, indicating efficient capital utilization over extended periods
  • Compounded profit growth of 107% over 3 years reflects a sharp earnings recovery cycle from pandemic-era lows
  • 10-year compounded sales growth of 9% and profit growth of 12% demonstrate long-term revenue and earnings scalability
  • TTM sales growth of 12% indicates continued top-line momentum in the most recent period
  • Price-to-book ratio of 1.31x is modest for a company generating 29% ROE, suggesting the market is not fully pricing in return on equity performance
  • 3-year stock CAGR of 19% shows the stock has rewarded patient investors over a medium-term horizon despite recent weakness
Bear Case 8
  • TTM compounded profit has declined 12%, signaling a potential earnings downcycle after the sharp 3-year recovery
  • As a government-controlled oil marketing company, BPCL's margins are exposed to regulated fuel pricing and subsidy uncertainty, which the volatile profit history reflects
  • 1-year stock CAGR of -4% indicates recent negative price momentum and possible deteriorating sentiment
  • 3-year compounded sales growth is -1%, suggesting revenue stagnation when adjusted over a medium-term window
  • 10-year stock CAGR of only 5% implies the stock has barely outpaced inflation over a long period, reflecting structural return limitations
  • 5-year stock CAGR of just 4% underperforms the broader Indian equity market significantly over the same period
  • Earnings are highly cyclical — the swing from 107% 3-year profit CAGR to -12% TTM decline illustrates how quickly profitability can reverse in the petroleum refining and marketing business
  • Stalled disinvestment plans add governance and strategic uncertainty, as privatisation timelines have been repeatedly pushed back

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 4
  • Q1 FY27 net loss ₹3,962 Cr Aug 18

    BPCL posted a net loss of ₹3,962 crore in Q1 FY27 vs ₹6,124 crore profit a year ago, with operating margins dropping to negative 4.11% from 5.72% due to suppressed marketing margins and rising crude costs from the US-Iran conflict.

  • ₹5,000 Cr NCD debt raise Aug 18

    Board approved ₹5,000 crore NCD issuance in up to 10 tranches over 12 months, as debt-to-equity rose to 0.19x in Q1 FY27 from 0.11x in Q4 FY26. LPG under-recoveries hit ₹3,485 crore in Q1.

  • Board non-compliance penalty Aug 26

    BSE and NSE imposed a ₹14.66 lakh penalty on BPCL for 91 days of board composition non-compliance due to expired independent director tenures.

  • Strait of Hormuz supply risks Aug 27

    Gulf oil flows dropped to 4.49 million bpd in August from 15.82 million bpd pre-conflict. India's crude imports fell to 4.51 million bpd, the lowest since March, complicating procurement for BPCL which needs ~2 million barrels of Iraqi crude monthly.

Positives 6
  • FY26 record profit ₹25,843 Cr Aug 27

    BPCL reported record consolidated PAT of ₹25,843 crore for FY26, driven by highest-ever crude throughput of 41.2 MMT and GRM of $11.74 per barrel.

  • Nomura picks BPCL as top OMC Aug 26

    Nomura prefers BPCL among OMCs with integrated margins at $8-13/bbl, citing meaningful upside if crude prices correct and structurally strong refining margins with diesel and ATF cracks above 3x historical averages.

  • CSE biofuels and CBG partnership Sep 2

    BPCL signed an MoU with the Centre for Science and Environment covering the full biofuels value chain including compressed biogas, feedstock assessment, carbon credit opportunities, and pilot projects aligned with its 2040 net-zero target.

  • ORSL wins ₹260 Cr CBG contracts Sep 8

    ORSL secured three EPCOM contracts from BPCL worth aggregate ₹259.71 crore for CBG plants in Mysuru, Raipur, and Kozhikode with combined 14.8 TPD capacity and five-year O&M mandates.

  • Iraqi crude cargo secured Aug 27

    BPCL secured its first Iraqi crude cargo of FY27 via ship-to-ship transfer at Fujairah, with September supplies arranged and October procurement underway despite Strait of Hormuz disruptions.

  • E20 fuel policy clarity Aug 27

    CMD Sanjay Khanna confirmed E20 petrol will not be replaced by E10, stating any E10 option for older vehicles would run alongside E20 with no infrastructure challenges for BPCL.

Neutral 8
  • Mumbai refinery maintenance planned Aug 27

    BPCL plans to shut its 6 Mtpa crude unit and secondary units at Mumbai refinery for maintenance in September-October 2026.

  • Grocery delivery and payments pilot Aug 27

    BPCL is piloting ecommerce grocery delivery alongside LPG in Maharashtra and UP, while developing a payment gateway for HelloBPCL app which processes ~₹91,500 crore annually.

  • 9 MTPA AP refinery with petchem Aug 27

    BPCL plans a 9 MTPA refinery in Andhra Pradesh with 35% petrochemical focus, plus a 5,000 T/yr green hydrogen project at Bina targeted for completion by 2028.

  • Renewable energy expansion to 251 MW Aug 27

    BPCL commissioned a 71 MW solar project at Prayagraj bringing total renewable capacity to 251 MW, with 26 CBG plants and 100 MW wind projects in the pipeline.

  • FY26 AGM and auditor appointments Aug 27

    BPCL held its 73rd AGM approving FY26 financials, interim dividends, and director appointments. Separately appointed M M Nissim & Co LLP and Manohar Chowdhry & Associates as FY27 statutory auditors.

  • Finance Director term extended Sep 1

    VR Gupta's tenure as Director (Finance) extended until June 30, 2031 per Ministry of Petroleum approval dated September 1, 2026.

  • Global investor meetings in September Sep 3

    BPCL scheduled physical investor meetings across Dubai, London, Singapore, and Hong Kong in September 2026, with the UBS India Summit session rescheduled to September 10.

  • Gujarat stamp duty orders ₹48 lakh Sep 11

    BPCL received two Gujarat stamp duty orders totaling ₹19.8 lakh in duty and ₹26.3 lakh in penalties related to the 2022 BORL amalgamation and older land allotments. Company plans to appeal.

TL;DR: BPCL delivered record FY26 results with ₹25,843 crore PAT and 41.2 MMT throughput, but Q1 FY27 swung to a ₹3,962 crore loss as the West Asia conflict crushed marketing margins and elevated crude costs. The company is actively diversifying into biofuels, CBG, renewables, and petrochemicals while managing near-term supply chain risks from Strait of Hormuz disruptions. The trajectory hinges on crude price normalization and marketing margin recovery — Nomura sees meaningful upside if Brent corrects toward pre-crisis levels, but geopolitical uncertainty and potential US sanctions on Russian crude imports remain key risks.

Quarterly Results

Particulars 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

Particulars 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

Particulars 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

Particulars 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

Particulars 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%

Insights

Beta

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

Log in to view BPCL insights

64 extracted metrics + investor summaries across FY06–FY26.

Log in — free

Shareholding Pattern

Others2.32%Govt.0.86%Promot.52.98%Public5.93%FIIs16.84%DIIs21.07%As ofJun 2026

Documents

Frequently Asked Questions about BPCL

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 trades as BPCL on the NSE and under code 500547 on the BSE.
Which sector does Bharat Petroleum Corporation Ltd belong to?
Bharat Petroleum Corporation Ltd is classified under the Petroleum Products sector, in the Refineries & Marketing industry.
What is the market capitalisation of Bharat Petroleum Corporation Ltd?
Bharat Petroleum Corporation Ltd has a market capitalisation of ₹1,28,810 Cr, which places it in the Large Cap band.
What is the PE ratio of Bharat Petroleum Corporation Ltd?
Bharat Petroleum Corporation Ltd trades at a PE ratio of 7.71, on earnings per share of ₹44.92, against a book value of ₹231.13 per share.
What is the 52-week high and low of Bharat Petroleum Corporation Ltd?
Over the last 52 weeks Bharat Petroleum Corporation Ltd has traded between ₹266.6 and ₹391.65.
Does Bharat Petroleum Corporation Ltd pay dividends?
Bharat Petroleum Corporation Ltd has a dividend yield of 5.78%.
What is the Return on Equity (ROE) of Bharat Petroleum Corporation Ltd?
Bharat Petroleum Corporation Ltd reported a return on equity of 25.80%. Its debt-to-equity ratio is 0.54.

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

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/BPCL.md for Bharat Petroleum Corporation Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our MCP server.

Explore More

More in Petroleum Products → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List