BPCL, incorporated in the year 1952, is a large cap company with a market cap of Rs 102,367.04 crore, operating in gas & petroleum sector.
Bharat Petroleum Corporation’s key products/revenue segments include petroleum products, oil crude, other operating revenue, subsidy for the year ending 31-Mar-2020.
Investment rationale
BPCL board approved the 61.65 per cent stake in NRL for Rs98.8 billion to Oil India, Engineers India and Government of Assam. Precursor to BPCL divestment likely to close by H1FY22E, proceeds can either be paid as dividend or reduce debt of Rs 240 billion as on Q3 end. BPCL remains well placed as crude oil prices to likely remain range bound, given comfortable inventory and uneven demand scenario.
Financials
For the quarter ended 31-12-2020, the company has reported a consolidated total income of Rs 66,809.47 crore, up 34.39 per cent from last quarter’s total income of Rs 49,713.32 crore and down 11.54 per cent from last year same quarter’s total income of Rs 75,527.70 crore. Company has reported net profit after tax of Rs 2,627.45 crore in latest quarter.
Promoter/FII Holdings
Promoters held 53 per cent stake in the company as of March 31, 2020, while FIIs held 12.3 per cent, DIIs 19.6 per cent and public and others 15.1 per cent.
