Durability score
65 /100
Valuation score
50.3 /100
Momentum score
42.3 /100
Market Capitalizati...
66,283.9 Cr.
AVG Broker Target
390.7
PE TTM Price to Ear...
9.9
337.00
-1.20%
SMC online
610 bps to 41.6%, other expenditure decreased 150 bps to 4.5%, staff cost fell 20 bps to 1.1% and purchase of stock in trade decreased 20 bps to 51.8%. Other income rose 36% to Rs 967.19 crore. Interest cost rose by 69% to Rs 336.9 crore. Depreciation rose 15% to Rs 778.14 crore. PBT was down 81% to Rs 589.51 crore. Effective...
Number of FIIs/FPIs holding stock fell by 76 to 835 in Dec 2018 qtr.
337.00
-1.20%
HDFC Securities
We maintain NEUTRAL. BPCLs 3QFY19 EBITDA came in at Rs 7.37bn, down 76.9% YoY and 69.5% QoQ, primarily due to Rs. 33.33bn of inventory losses, partially offset by Rs. 6.59bn of forex gains. Adjusting for inventory losses and forex gains, core EBITDA was Rs 34.11bn up 140% YoY and 78.2% QoQ. Operationally, it was a strong quarter with core GRM (excluding inventory losses of USD 3.27/bbl) at USD 6/bbl vs USD 5.73/bbl in 3QFY18.
Bharat Petroleum Corporation Ltd. is trading below it's 30 day SMA of 341.38
337.00
-1.20%
ICICI Securities Limited
ICICI Securities Ltd | Retail Equity Research Bharat Petroleum Corporation (BPCL) reported Q3FY19 results that were below our estimates on the EBITDA front mainly on account of...
Number of FIIs/FPIs holding stock fell by 76 to 835 in Dec 2018 qtr.
337.00
-1.20%
IDBI Capital
BPCL's Q3FY19 results were a beat to our estimates on all front on the back of better sales volume, forex gains and more than expected core GRM. While revenue was up 30.6% YoY to Rs791bn, EBITDA/PAT both declined by 76.9% YoY to Rs7.3bn/Rs4.9bn respectively mainly due to huge inventory losses. Crude throughput/sales volume grew marginally by 3%/2% YoY to 7.5mmt/11.5mmt. Reported GRM stood at US$2.8/bbl while core GRM came at US$6.0/bbl in Q3FY19 vs US$4.9/bbl in Q3FY18. We are raising our SOTP based target price to Rs395 from Rs348 earlier on the back of strong...
Number of Mutual Funds holding stock fell by 45 to 133 in Dec 2018 qtr.
337.00
-1.20%
Nirmal Bang Institutional
Weak GRM Induced-EBIT Loss Turns Into Profit With Higher Other Income SELL Bharat Petroleum Corporation or BPCL's reported earnings of Rs4.9bn in 3QFY19 were down 76.9% YoY and 59.4% QoQ. The key reasons are: 1) Decline in gross refining margin or GRM from US$7.89/bbl in 3QFY18 and US$5.57/bbl in 2QFY19 to US$2.78/bbl in 3QFY19. 2) Interest expenses at Rs3.4bn, rose 2.8% QoQ and 68.3% YoY. However, EBIT-level loss was converted into profit by: 1) Growth in other income to Rs9.6bn a rise of 79.8% QoQ and 33% YoY. 2) Decline in other expenses to Rs33.6bn a fall of 30.5% QoQ and 7.2% YoY. 3) Sharp decline in the tax rate to 16% in 3QFY19 from 35% in 2QFY19 and 29% in 3QFY18. We...
Bharat Petroleum Corporation Ltd. is trading above it's 100 day SMA of 326.3
337.00
-1.20%
IDBI Capital
BPCL's Q2FY19 results were below our estimates due to lower sales volume coupled with lower inventory gains of Rs14.3 bn and higher forex losses of Rs9.3 bn. Revenue was up 35.6% YoY to Rs723 bn while EBITDA/PAT declined 31%/48% to Rs24/12.2 bn. Crude throughput grew by 8% while sales volume declined 2.8% YoY to 10.1mmt (-10.6% QoQ). Core GRM fell to US$3.3/bbl while reported GRM declined 30% YoY to US$5.6/bbl. We expect GRM expansion at Kochi to kick-in post ramp up of Propylene Unit to feed its upcoming Petchem facility from FY20. We are raising our exchange rate assumption to Rs70 from Rs68 for H2FY19 and FY20. We are cutting our TP to Rs333...
Bharat Petroleum Corporation Ltd. is trading below it's 30 day SMA of 341.38
337.00
-1.20%
HDFC Securities
Our SOTP target is Rs 323/share (5x Sep 20E EV/e for standalone refining, marketing, and pipeline business and Rs 124/sh from other investments). We maintain BUY. BPCLs 2QFY19 EBITDA came in at Rs 24.2bn, down 31.4% YoY and 37.6% QoQ, majorly due to forex losses and lower GRMs. The company made forex losses of Rs 9.3bn owing to depreciation of rupee (~4.6% QoQ and ~9% YoY). Core GRM was down 20% QoQ to USD 3.3/bbl owing to shutdown of Hydrocracker unit at their Mumbai refinery.
Bharat Petroleum Cor.. has an average target of 390.71 from 9 brokers.
337.00
-1.20%
HDFC Securities
Bharat Petroleum Corporation Ltd Q2FY19 results Comment Revenue grew by 0.83% to Rs. 72291.82 Cr in Q2FY19 when compared to the previous quarter. Also, it rose by 35.55% when compared with Q2FY18.
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Number of Mutual Funds holding stock fell by 45 to 133 in Dec 2018 qtr.
337.00
-1.20%
Nirmal Bang Institutional
Bharat Petroleum Corporation or BPCL's reported earnings of Rs12.2bn in 2QFY19 were down 48.3% YoY and 46.9% QoQ, 25.5% below our expectation primarily because of: 1) Decline in Sector: Oil & Gas gross refining margin or GRM from US$7.97/bbl in 2QFY18 and US$7.5/bbl in 1QFY19 to US$5.57/bbl in 2QFY19. 2) Low market sales at 10.08mmt in 2QFY19 as compared to 10.97mmt CMP: Rs277 in 1QFY19. 3) Rise in other expenses by 46.8% YoY to Rs48.3bn in 2QFY19. 4) Other income at Rs5.4bn declining 32.8% on YoY basis. 5) Interest expenses at Rs3.3bn rising 8.6% QoQ and Amit Agarwal 39.5% YoY. However, the further fall in earnings was mitigated by inventory gain of US$2.26/bbl Research Analyst in 2QFY19 amounting to Rs8,960mn. The BPCL stock is under review and we will shortly come amit.agarwal@nirmalbang.com...
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Number of FIIs/FPIs holding stock fell by 76 to 835 in Dec 2018 qtr.
337.00
-1.20%
Prabhudas Lilladhar
Multiple state and Central elections in a crude inflationary environment will be an overhang in stock performance. Muted earnings: BPCL reported muted Q2FY19 results with EBITDA of Rs24.2bn (PLe Rs28.5bn; -38%QoQ) and PAT of Rs12.2bn (PLe Rs18.2bn; -47%QoQ) led by lower than expected refining earnings and higher costs. The core EBIDTA for the quarter, adjusted for forex loss and inventory gains were at Rs19.1bn (flat QoQ). Foreign exchange loss, part of other expenses, of Rs9.3bn also dragged coreoperating earnings. BPCL's marketing volumes lagged industry run rate for HSD (2% YoY vs 2.8% for industry), and MS (5.2% YoY against industry rate of...
Bharat Petroleum Corporation Ltd. is trading above it's 100 day SMA of 326.3