Bharat Petroleum Corporation Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for BPCL, BSE:500547 Bharat Petroleum Corporation Ltd.

Bharat Petroleum Corporation Ltd.

18 Mar 2020

341.45

-0.63%

BPCL - 3QFY20 Result Update

Sell: Bharat Petroleum Corporati...

Reliance Securities

Dismal Performance with No Improvement in GRM; Maintain REDUCE Bharat Petroleum Corporation Ltd. (BPCL) has delivered a disappointing performance in 3QFY20. It reported GRM of US$3.23/bbl below ours/consensus estimates of US$4.1/bbl. Petrol/diesel sales volume grew by 5.9%/(1.6%) YoY lower than the industry growth rate of 7.1%/0.2%. It clearly implies that BPCL has lost market share to private retailers during the quarter. EBITDA increased by 248% YoY and 14% QoQ to Rs 27bn (6% below the consensus estimate/8% higher than our estimate) mainly due to 12% YoY growth in crude throughput of refineries, comparative higher YoY GRM and improved net marketing margin on diesel. Net profit grew by 155% YoY (down 26%...

Bharat Petroleum Corporation Ltd. is trading above all available SMAs

Bharat Petroleum Corporation Ltd.

09 Mar 2020

341.45

-0.63%

Event Update - OMCs best play in weak crude oil prices

Buy: Bharat Petroleum Corporati...

Target

Prabhudas Lilladhar

Upstream companies and RIL will also be hit from weakening global economy and lower oil and gas realization. Global crude oil prices have crashed to USD35/bbl on disagreement between OPEC and Russia on extent of production cuts in a weakening global economy. Higher production cuts over current levels of 2.1mbpd were expected to help balance oil markets. With no agreements, we expect oil prices to remain weak. The OMCs with high leverage to low crude oil prices are best placed especially HPCL and BPCL. Our sensitivity suggests OMC...

Bharat Petroleum Corporation Ltd. has gained 22.19% in the last 6 Months

Bharat Petroleum Corporation Ltd.

26 Feb 2020

341.45

-0.63%

BHARAT PETROLEUM CORPORATION LTD

Hold: Bharat Petroleum Corporati...

Recommendation Target

Geojit BNP Paribas

Bharat Petroleum Corporation Ltd (BPCL) 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 above all available SMAs

Bharat Petroleum Corporation Ltd.

17 Feb 2020

341.45

-0.63%

BPCL

Results Update: Bharat Petroleum Corporati...

SMC online

BPCL consolidated net sales fell 6% to Rs 74959.1 crore for the quarter ended December 2019 compared to corresponding previous year period. This included subsidy from the government of Rs 37.97 crore down 86% on a y-o-y basis. Excluding compensation from the government sales of the company fell 6% to Rs 74921.2 crore. OPM of the company rose 220 bps to 4.1%. As a result operating profits rose 109% to Rs...

Bharat Petroleum Corporation Ltd. is trading above all available SMAs

Bharat Petroleum Corporation Ltd.

14 Feb 2020

341.45

-0.63%

Bharat Petroleum Corporation (3QFY20): In line performance. Maintain NEUTRAL

Neutral: Bharat Petroleum Corporati...

Recommendation Target

HDFC Securities

We believe that the current valuation multiples (8.5x EV/e FY21) are already pricing in a full privatisation scenario. We believe that only potential improvement in earnings and cash flows can drive re-rating of the stock. But this will obviously be realized with a lag and is contingent upon the stake acquirer's ability to bring about efficiencies. Our SOTP target is Rs 452/sh (5.5x Dec-21E EV/e for standalone refining, 6.0x Dec-21E EV/e for marketing and pipeline business and Rs 145/sh for other investments). We maintain NEUTRAL on BPCL with a TP of Rs 452 (vs consensus TP of Rs 513) following a performance in-line with our PAT estimates in 3QFY20. 8.2% beat at EBITDA level was due to higher inventory gains of Rs 5.32bn vs est Rs 3.63bn.

Number of FII/FPI investors increased from 1297 to 1381 in Jun 2025 qtr.

Bharat Petroleum Corporation Ltd.

14 Feb 2020

341.45

-0.63%

Bharat Petroleum Corp (REDUCE): Pricing in stake sale

Sell: Bharat Petroleum Corporati...

Target

BOB Capital Markets Ltd.

BPCL's Q3FY20 EBITDA at Rs 27bn (up 3.6x YoY) outperformed estimates on higher GRMs (US$ 2.2/bbl ex-inventory).

Bharat Petroleum Corporation Ltd. is trading above all available SMAs

Bharat Petroleum Corporation Ltd.

14 Feb 2020

341.45

-0.63%

BPCL - 3QFY20 Result Update

Sell: Bharat Petroleum Corporati...

Target

Reliance Securities

Bharat Petroleum Corporation Ltd. is trading above all available SMAs

Bharat Petroleum Corporation Ltd.

14 Feb 2020

341.45

-0.63%

Bharat Petroleum Corporation

Hold: Bharat Petroleum Corporati...

Target

ICICI Securities Limited

Average crude oil prices in Q3FY20 remained flattish compared to Q2FY20. Core marketing margins were steady during the quarter. In terms of marketing sales, BPCL reported growth of 3.3% YoY (led by LPG, motor spirit sales growth) to 11 MMT, marginally above our estimates. Going forward, we expect marketing sales volume to improve to 3.5-4.5% CAGR over the next two years. The crude throughput in Q3FY20 was up 13.3% YoY at 8.4 MMT, above our estimates. We estimate 44.2 MMT throughput for FY20E. Going forward, we estimate throughput of 45.8 MMT and 47.6...