Refining throughput (+5% QoQ) and marketing sales volume (+3% QoQ) were in line with our estimates - on the back of demand recovery post the second COVID wave. BPCL remains confident of achieving 100% utilisation of its refining nameplate capacity in FY22. Technical debottlenecking at the company's PDPP plant in Kochi is underway and management expects the three units to contribute significantly from 4QFY22. Management expects the GRM to improve by USD1/bbl even if margins normalise from hereon....