Bharat Petroleum Corporation Ltd.

•

bharatpetroleum.inBSE: 500547NSE: BPCL

Market Cap₹ 1,32,107 Cr.

Current Price

High / Low₹ 392 / 267

Stock P/E10.0

Book Value₹ 211

Price to Book1.26

Dividend Yield5.75 %

ROCE30.8 %

ROE26.5 %

Face Value₹ 10

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Oil Gas & Consumable Fuels

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Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.

Confidence

78%

View full sector analysis →

PROS

Company has a healthy return on capital (ROCE) of 30.7%
Company has a good return on equity (ROE) track record: 3 Years ROE 28.5%
Operating margins have improved to 7.9% from 2.5%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.69x)
Company has been maintaining a healthy dividend payout of 32.1%

CONS

Recent results are weak - TTM profit is down 33.4% versus prior year
Company has delivered a poor profit growth of 4.1% over past five years
Recurring exceptional / one-off items are inflating headline profit
Valuation is stretched - P/E of 10.0 is well above its own 5-year median (5.2)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Oil Gas & Consumable FuelsCrude OilRefineries

Part ofNIFTY NEXT 50 NIFTY DIV OPPS 50 NIFTYLARGEMIDCAP250 NIFTY100 EQL WGT NIFTY TOTAL MKT

S.No.	Name
1.	RELIANCE	1258.00	22.78	1702393.37	0.48	23196.00	-24.65	311850.00	25.41	12.17	15.30
2.	IOC	135.25	5.68	190989.75	5.18	-1141.09	-116.76	281933.07	27.08	19.69	1.69
3.	BPCL	304.50	7.71	132107.49	5.75	-1872.70	-127.38	159527.05	23.08	27.09	-2.29
4.	HINDPETRO	351.00	44.69	74686.57	6.91	-12264.67	-398.34	145225.11	21.39	23.10	-11.08
5.	MRPL	175.90	9.81	30828.21	2.27	945.68	449.40	41608.96	98.25	18.12	3.24
6.	CHENNPETRO	1573.70	5.61	23434.19	3.94	1031.35	2671.95	29358.75	57.14	35.15	5.35

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	1,28,257	1,16,594	1,29,947	1,32,057	1,28,073	1,17,917	1,27,520	1,26,865	1,29,578	1,21,571	1,36,623	1,34,896	1,59,479
	1,12,447	1,03,686	1,23,749	1,22,872	1,22,453	1,13,405	1,19,940	1,19,100	1,19,915	1,11,794	1,24,946	1,24,836	1,66,038
Operating Profit	15,810	12,908	6,198	9,185	5,620	4,512	7,580	7,765	9,663	9,777	11,677	10,061	-6,559
OPM %	12.33%	11.07%	4.77%	6.96%	4.39%	3.83%	5.94%	6.12%	7.46%	8.04%	8.55%	7.46%	-4.11%
	492	771	709	-1,301	536	924	829	-981	749	1,191	750	-3,285	1,253
Interest	679	768	502	524	443	470	429	547	374	421	361	479	415
Depreciation	1,609	1,600	1,824	1,717	1,681	1,773	1,804	1,975	1,882	1,952	1,972	2,038	2,066
Profit before Tax	14,013	11,312	4,580	5,643	4,032	3,194	6,176	4,263	8,156	8,596	10,094	4,258	-5,305
Tax %	24.71%	24.85%	25.83%	25.15%	25.23%	24.94%	24.72%	24.60%	24.92%	25.05%	25.25%	25.05%	25.32%
Net Profit	10,551	8,501	3,397	4,224	3,015	2,397	4,649	3,214	6,124	6,443	7,545	3,191	-3,962
	24.77	19.96	7.98	9.90	7.06	5.61	10.88	7.52	14.33	15.08	17.66	7.47	-9.27

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,02,211	2,36,421	2,97,275	2,84,383	2,32,553	3,46,644	4,73,125	4,47,908	4,40,132	4,55,076	5,52,570
	1,91,476	2,24,704	2,85,311	2,77,929	2,15,422	3,27,620	4,62,169	4,03,857	4,14,659	4,13,938	5,27,613
Operating Profit	10,735	11,717	11,964	6,454	17,131	19,023	10,956	44,051	25,473	41,138	24,956
OPM %	5.31%	4.96%	4.02%	2.27%	7.37%	5.49%	2.32%	9.83%	5.79%	9.04%	4.52%
	2,695	3,055	2,984	2,186	11,044	4,275	825	721	1,312	-556	-91
Interest	496	833	1,319	2,182	1,580	2,209	3,216	2,473	1,888	1,634	1,676
Depreciation	1,891	2,653	3,189	3,787	3,978	5,418	6,347	6,750	7,232	7,844	8,028
Profit before Tax	11,043	11,286	10,440	2,671	22,618	15,672	2,217	35,548	17,664	31,104	17,642
Tax %	27.20%	29.33%	31.68%	-0.45%	15.81%	27.49%	15.64%	24.97%	24.85%	25.08%	25.08%
Net Profit	8,039	7,976	7,132	2,683	19,042	11,363	1,870	26,674	13,275	23,303	13,217
EPS	40.87	40.55	36.26	13.64	96.12	53.41	8.78	124.86	31.07	54.54	—
Dividend Payout %	53.01%	51.78%	52.40%	120.95%	86.83%	29.98%	45.55%	25.23%	32.18%	32.09%	—

COMPOUNDED SALES GROWTH

10 Years:: 9%
5 Years:: 14%
3 Years:: -1%

COMPOUNDED PROFIT GROWTH

10 Years:: 13%
5 Years:: 4%
3 Years:: 132%

STOCK PRICE CAGR

10 Years:: 5%
5 Years:: 4%
3 Years:: 20%
1 Year:: -5%

RETURN ON EQUITY

10 Years:: 24%
5 Years:: 22%
3 Years:: 29%
Last Year:: 26%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	1,311	1,967	1,967	1,967	2,093	2,129	2,129	2,136	4,273	4,273
	28,357	32,165	34,771	31,248	51,595	49,516	49,867	72,539	76,688	90,960
	21,617	23,552	28,049	44,827	30,819	38,602	37,500	26,987	35,187	23,474
Trade Payables	11,520	14,990	17,688	12,510	16,256	30,330	24,011	28,293	30,622	42,634
	29,184	27,458	33,153	35,918	39,831	43,607	47,326	43,038	41,226	45,786
Total Liabilities	91,990	1,00,131	1,15,627	1,26,469	1,40,594	1,64,184	1,60,833	1,72,993	1,87,995	2,07,126
	31,437	43,028	46,488	56,951	63,936	83,806	86,596	86,737	88,580	93,582
Capital Work in Progress	11,217	4,044	6,703	9,108	6,987	4,980	5,645	8,680	13,240	16,394
	14,601	15,626	15,992	16,058	17,684	12,632	13,872	14,458	14,417	11,373
	19,798	20,875	21,545	20,421	26,757	42,176	38,065	42,835	45,263	53,303
	97	52	61	67	72	49	58	8,328	9,323	4,949
Cash & Bank	65	183	95	116	7,053	1,451	2,120	4,491	9,383	16,882
	14,775	16,324	24,744	23,748	18,104	19,089	14,476	7,464	7,789	10,643
Total Assets	91,990	1,00,131	1,15,627	1,26,469	1,40,594	1,64,184	1,60,833	1,72,993	1,87,995	2,07,126

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	10,937	11,308	9,716	7,811	22,894	22,636	11,465	35,762	23,605	47,703
Cash from Investing	-10,130	-4,741	-7,537	-9,172	2,170	-7,744	-6,397	-11,661	-18,796	-22,455
Cash from Financing	567	-4,423	-87	2,940	-15,622	-18,662	-3,666	-25,466	-4,916	-25,398
	-1,666	-155	21	34	6,578	-5,592	601	-1,365	-107	-150

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

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
15.04	15.39	14.71	14.58	15.45	16.53	18.46	19.57	16.84
21.29	22.04	22.25	22.21	22.16	21.29	19.56	18.52	21.07
0.94	0.94	0.94	0.94	0.94	0.94	0.43	0.43	0.86
9.74	8.63	9.10	9.26	8.46	8.25	8.57	8.49	8.25

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Action(s) initiated or orders passed

2026-09-11 - Bharat Petroleum Corporation Limited has informed the Exchange about Action(s) initiated or orders passed

2026-09-10

Change in Auditors

2026-09-10 - Bharat Petroleum Corporation Limited has informed the Exchange regarding Change in Auditors of the company.

2026-09-08

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-08 - Bharat Petroleum Corporation Limited has informed the Exchange about Schedule of meet

2026-09-03

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-03 - Bharat Petroleum Corporation Limited has informed the Exchange about Schedule of meet

2026-09-01

Updates

2026-09-01 - Bharat Petroleum Corporation Limited has informed the Exchange regarding 'Tenure of Director (Finance)'.

2026-08-28

Amendment to AOA/MOA

2026-08-28 - Bharat Petroleum Corporation Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.

2026-08-28

Shareholders meeting

2026-08-28 - Bharat Petroleum Corporation Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 27, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-27

Shareholders meeting

2026-08-27 - Bharat Petroleum Corporation Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 27, 2026

2026-08-27

Updates

2026-08-27 - Bharat Petroleum Corporation Limited has informed the Exchange regarding 'Chairman's Statement delivered at the 73rd Annual General Meeting of the Company.'.

News

Recent coverage and analyst commentary for BPCL

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Bharat Petroleum Corporation Ltd.

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Free 5nance Account

Name

RELIANCE

1258.00

22.78

1702393.37

0.48

23196.00

-24.65

311850.00

25.41

12.17

15.30

IOC

135.25

5.68

190989.75

5.18

-1141.09

-116.76

281933.07

27.08

19.69

1.69

BPCL

304.50

7.71

132107.49

5.75

-1872.70

-127.38

159527.05

23.08

27.09

-2.29

HINDPETRO

351.00

44.69

74686.57

6.91

-12264.67

-398.34

145225.11

21.39

23.10

-11.08

MRPL

175.90

9.81

30828.21

2.27

945.68

449.40

41608.96

98.25

18.12

3.24

CHENNPETRO

1573.70

5.61

23434.19

3.94

1031.35

2671.95

29358.75

57.14

35.15

5.35

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

1,28,257

1,16,594

1,29,947

1,32,057

1,28,073

1,17,917

1,27,520

1,26,865

1,29,578

1,21,571

1,36,623

1,34,896

1,59,479

1,12,447

1,03,686

1,23,749

1,22,872

1,22,453

1,13,405

1,19,940

1,19,100

1,19,915

1,11,794

1,24,946

1,24,836

1,66,038

Operating Profit

15,810

12,908

6,198

9,185

5,620

4,512

7,580

7,765

9,663

9,777

11,677

10,061

-6,559

OPM %

12.33%

11.07%

4.77%

6.96%

4.39%

3.83%

5.94%

6.12%

7.46%

8.04%

8.55%

7.46%

-4.11%

492

771

709

-1,301

536

924

829

-981

749

1,191

750

-3,285

1,253

Interest

679

768

502

524

443

470

429

547

374

421

361

479

415

Depreciation

1,609

1,600

1,824

1,717

1,681

1,773

1,804

1,975

1,882

1,952

1,972

2,038

2,066

Profit before Tax

14,013

11,312

4,580

5,643

4,032

3,194

6,176

4,263

8,156

8,596

10,094

4,258

-5,305

Tax %

24.71%

24.85%

25.83%

25.15%

25.23%

24.94%

24.72%

24.60%

24.92%

25.05%

25.25%

25.05%

25.32%

Net Profit

10,551

8,501

3,397

4,224

3,015

2,397

4,649

3,214

6,124

6,443

7,545

3,191

-3,962

24.77

19.96

7.98

9.90

7.06

5.61

10.88

7.52

14.33

15.08

17.66

7.47

-9.27

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

2,02,211

2,36,421

2,97,275

2,84,383

2,32,553

3,46,644

4,73,125

4,47,908

4,40,132

4,55,076

5,52,570

1,91,476

2,24,704

2,85,311

2,77,929

2,15,422

3,27,620

4,62,169

4,03,857

4,14,659

4,13,938

5,27,613

Operating Profit

10,735

11,717

11,964

6,454

17,131

19,023

10,956

44,051

25,473

41,138

24,956

OPM %

5.31%

4.96%

4.02%

2.27%

7.37%

5.49%

2.32%

9.83%

5.79%

9.04%

4.52%

2,695

3,055

2,984

2,186

11,044

4,275

825

721

1,312

-556

-91

Interest

496

833

1,319

2,182

1,580

2,209

3,216

2,473

1,888

1,634

1,676

Depreciation

1,891

2,653

3,189

3,787

3,978

5,418

6,347

6,750

7,232

7,844

8,028

Profit before Tax

11,043

11,286

10,440

2,671

22,618

15,672

2,217

35,548

17,664

31,104

17,642

Tax %

27.20%

29.33%

31.68%

-0.45%

15.81%

27.49%

15.64%

24.97%

24.85%

25.08%

Net Profit

8,039

7,976

7,132

2,683

19,042

11,363

1,870

26,674

13,275

23,303

13,217

EPS

40.87

40.55

36.26

13.64

96.12

53.41

8.78

124.86

31.07

54.54

—

Dividend Payout %

53.01%

51.78%

52.40%

120.95%

86.83%

29.98%

45.55%

25.23%

32.18%

32.09%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

1,311

1,967

2,093

2,129

2,136

4,273

28,357

32,165

34,771

31,248

51,595

49,516

49,867

72,539

76,688

90,960

21,617

23,552

28,049

44,827

30,819

38,602

37,500

26,987

35,187

23,474

Trade Payables

11,520

14,990

17,688

12,510

16,256

30,330

24,011

28,293

30,622

42,634

29,184

27,458

33,153

35,918

39,831

43,607

47,326

43,038

41,226

45,786

Total Liabilities

91,990

1,00,131

1,15,627

1,26,469

1,40,594

1,64,184

1,60,833

1,72,993

1,87,995

2,07,126

31,437

43,028

46,488

56,951

63,936

83,806

86,596

86,737

88,580

93,582

Capital Work in Progress

11,217

4,044

6,703

9,108

6,987

4,980

5,645

8,680

13,240

16,394

14,601

15,626

15,992

16,058

17,684

12,632

13,872

14,458

14,417

11,373

19,798

20,875

21,545

20,421

26,757

42,176

38,065

42,835

45,263

53,303

8,328

9,323

4,949

Cash & Bank

183

116

7,053

1,451

2,120

4,491

9,383

16,882

14,775

16,324

24,744

23,748

18,104

19,089

14,476

7,464

7,789

10,643

Total Assets

91,990

1,00,131

1,15,627

1,26,469

1,40,594

1,64,184

1,60,833

1,72,993

1,87,995

2,07,126

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

10,937

11,308

9,716

7,811

22,894

22,636

11,465

35,762

23,605

47,703

Cash from Investing

-10,130

-4,741

-7,537

-9,172

2,170

-7,744

-6,397

-11,661

-18,796

-22,455

Cash from Financing

567

-4,423

-87

2,940

-15,622

-18,662

-3,666

-25,466

-4,916

-25,398

-1,666

-155

6,578

-5,592

601

-1,365

-107

-150

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

52.98

15.04

15.39

14.71

14.58

15.45

16.53

18.46

19.57

16.84

21.29

22.04

22.25

22.21

22.16

21.29

19.56

18.52

21.07

0.94

0.43

0.86

9.74

8.63

9.10

9.26

8.46

8.25

8.57

8.49

8.25

Bharat Petroleum Corporation Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Bharat Petroleum Corporation Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI