NSE: BPCL | BSE: 500547 | INDUSTRY : REFINERIES/PETRO-PRODUCTS | SECTOR : OIL & GAS

Bharat Petroleum Corporation Ltd.

Mid-range Performer

351.55 2.20 (0.63%)

35.97% Fall from 52W High

Volume: 5.0M

NSEOct 23, 2020 03:31 PM

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Durability score
45/100
Medium Financial Strength
Valuation score
38/100
Mid Valuation
Momentum score
41.9/100
Technically Neutral
7S
10W
5O
3T


Bharat Petroleum Corporation Ltd.    
21 Aug 2020
351.55
0.63%
buy
by Geojit BNP Paribas
Target: 471 | Upside : 34.0%
Geojit BNP Paribas
Bharat Petroleum Corporation Ltd is one of India's leading oil & gas companies. It operates refineries located in Kochi, Mumbai, Bina and Numaligarh. The company's marketing infrastructure consists of...
Bharat Petroleum Corporation Ltd. is trading below all available SMAs
Bharat Petroleum Corporation Ltd.    
17 Aug 2020
351.55
0.63%
buy
by SMC online
SMC online
Bharat Petroleum Corp. Ltd. reported Sales volume down 32% and operating profits rose 43% to Rs 4259.87 crore, in line with estimates BPCL consolidated net sales fell 50% to Rs 37999.25 crore for the quarter ended June20 compared to corresponding previous year period. This included nil subsidy from the government compared to subsidy of Rs 139.22 crore. Excluding compensation from the...
Number of FIIs/FPIs holding stock rose by 10 to 1024 in Sep 2020 qtr.
Bharat Petroleum Corporation Ltd.    
17 Aug 2020
351.55
0.63%
buy
by Nirmal Bang Institutional
Target: 417 | Target met
Nirmal Bang Institutional
We cut BPCL rating to Accumulate with our PE-based unchanged target price (TP) of Rs417, which offers limited upside from the CMP. We maintain our earnings for FY21E/22E despite the 38% beat on 1QFY21 standalone PAT at Rs20.8bn as the refining outlook remains uncertain, although marketing earnings looks healthy. During the results call, the BPCL management said that the current crack spreads are EBITDA negative for refining, forcing it to cap operations at 75% of capacity. MS/HSD demand has improved to 90% of year ago levels in August'20 vs. 38%/68%/85% in April/May/June'20. The PAT beat resulted from aggregate inventory gains of Rs5.65bn vs. inventory loss of Rs4.47bn as per our estimate...
Number of Mutual Funds holding stock rose by 28 to 369 in Sep 2020 qtr.
Bharat Petroleum Corporation Ltd.    
15 Aug 2020
351.55
0.63%
buy
by HDFC Securities
Target: 445 | Upside : 26.6%
HDFC Securities
Our price target comes to INR 445/sh (6.0x Mar-22E EV/e for the standalone refining and marketing businesses, 6.5x Mar-22E EV/e for the pipeline business, and INR 132/sh for other investments). The stock is currently trading at 6.3x on FY22E EPS. We maintain ADD on Bharat Petroleum (BPCL) with a price target of INR 445, owing to an expected recovery in demand for petroleum products and, subsequently, refining margins. 1Q reported EBITDA and APAT were 28% and 41% below estimates due to (1) 22% higher-than-anticipated RMC at INR 306bn, (2) 12% lower domestic marketing throughput at 7.5mmt, and (3) 92% lower reported GRM at USD 0.4/bbl, partly offset by 23% higher marketing margin of INR 7/ltr. Reported EBITDA came to INR 39bn (vs. EBITDA of INR 22bn YoY and an operating loss of INR 17bn QoQ). Crude inventory losses were INR 4bn (HSIE gain of INR 10bn) and product inventory gains were INR 10bn (HSIE INR 28bn). Forex loss stood at INR 570mn (HSIE 0). Adjusting for these, core EBITDA stood at INR 34bn (HSIE INR 16bn), +31/-23% YoY/QoQ.
Bharat Petroleum Corporation Ltd. has lost -23.17% in the last 3 Months
Bharat Petroleum Corporation Ltd.    
14 Aug 2020
351.55
0.63%
buy
by Motilal Oswal
Target: 424 | Target met
Motilal Oswal
14 August 2020 Reported EBITDA was higher than est. INR25.2b and INR21.5b in 1QFY20), led by lower other expenditure. Opex decreased in INR terms and stood roughly at ~USD2/bbl during the quarter. Inventory gains for the quarter stood at INR5.6b (on refining loss of INR4.4b and marketing gains of INR10b). Adj. for inventory, EBITDA stood at INR34.1b (v/s INR26b in 1QFY20). The company reported forex loss of INR0.6b.
Number of Mutual Funds holding stock rose by 28 to 369 in Sep 2020 qtr.
Bharat Petroleum Corporation Ltd.    
14 Aug 2020
351.55
0.63%
buy
by Prabhudas Lilladhar
Target: 515 | Upside : 46.5%
Prabhudas Lilladhar
We maintain our FY21/22 earnings estimates. During Q1FY21, core standalone EBIDTA adjusted for inventory gains and forex loss was healthy at Rs34.0bn (+31%YoY) despite lower refining margins ($0.4/bbl vs $2.8/bbl in Q1FY20). Weak global demand and high inventory levels will likely keep crude oil prices range bound, thereby supporting marketing margins in medium term. Meanwhile GRMs will also recover with pickup in economic...
Bharat Petroleum Corporation Ltd. has lost -33.30% in the last 1 Year
Bharat Petroleum Corporation Ltd.    
08 Jun 2020
351.55
0.63%
buy
by SMC online
SMC online
lower sales due to the Covid-19 lockdown. BPCL consolidated net sales fell 7% to Rs 68997.83 crore for the quarter ended Mar20 compared to corresponding previous year period. This included subsidy from the government...
Number of FIIs/FPIs holding stock rose by 10 to 1024 in Sep 2020 qtr.
Bharat Petroleum Corporation Ltd.    
08 Jun 2020
351.55
0.63%
buy
by Edelweiss
Target: 407 | Target met
Edelweiss
Bharat Petroleum Corporation Limited (BPCL) is a leading player in the Indian petroleum industry with operations in both refining and marketing segments.
Number of FIIs/FPIs holding stock rose by 10 to 1024 in Sep 2020 qtr.
Bharat Petroleum Corporation Ltd.    
05 Jun 2020
351.55
0.63%
buy
by Nirmal Bang Institutional
Target: 417 | Target met
Nirmal Bang Institutional
We maintain Buy on BPCL with a target price (TP) of Rs417 (+16.8% to CMP), which we have arrived at based on 7x PE on FY22E EPS (based on past average). This follows our earnings revision - cutting FY21E/FY22E earnings by -48.3%/-12.42% post the 4QFY20 results call with BPCL management. The standalone 4QFY20 results were a miss vs. our estimates - adjusted loss of Rs2.8bn vs our PAT estimate at Rs2.49bn. This was due to a steeper inventory loss of Rs49.02bn vs our estimate of Rs34.5bn. The reported inventory loss includes exceptional loss of Rs10.8bn attributed to the impact of lockdown on crude and products inventory. BPCL reported a 4QFY20 loss of Rs13.61bn, including this exceptional item. Reported GRM came in at...
1 Comment
mohit234 None of the Last 3 Targets Meets . Reversal has happen
06 Jun 2020
Bharat Petroleum Corporation Ltd. has lost -23.17% in the last 3 Months
Bharat Petroleum Corporation Ltd.    
05 Jun 2020
351.55
0.63%
buy
by IDBI Capital
Target: 418 | Target met
IDBI Capital
BPCL Q4FY20 result was impacted negatively by higher inventory losses (Rs49 bn) and higher forex loss (Rs12 bn). Adjusting to that, result is largely in line with consensus estimates. Reported GRM came at US$0.5/bbl whereas core GRM came at US$7.7/bbl owing to higher discount and better diesel cracks. Demand for petroleum products also improved 67% MoM in May'20 and now just 30% YoY down. Also, refinery is now running at 83% utilization which was 63% and 77% in Apr-May'2020. We expect GRM of US$2/bbl and US$4/bbl in FY21 and FY22 respectively while marketing margin to remain stable on a YoY basis. We forecast EBITDA/PAT of Rs92/34 bn in FY21 and Rs127/56 bn in FY22...
Bharat Petroleum Cor.. has an average target of 442.90 from 12 brokers.