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.

14 Aug 2020

343.60

0.60%

Better marketing margins offset poor GRMs

Neutral: Bharat Petroleum Corporati...

Target

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

Bharat Petroleum Corporation Ltd.

08 Jun 2020

343.60

0.60%

BPCL

Results Update: Bharat Petroleum Corporati...

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...

Bharat Petroleum Corporation Ltd. is trading above all available SMAs

Bharat Petroleum Corporation Ltd.

08 Jun 2020

343.60

0.60%

Pick Of The Week - Bharat Petroleum Corporation Ltd

Buy: Bharat Petroleum Corporati...

Edelweiss

Bharat Petroleum Corporation Limited (BPCL) is a leading player in the Indian petroleum industry with operations in both refining and marketing segments.

Bharat Petroleum Cor.. has an average target of 356.60 from 5 brokers.

Bharat Petroleum Corporation Ltd.

05 Jun 2020

343.60

0.60%

Bharat Petroleum Corp.: Q4FY20 Result Review

Buy: Bharat Petroleum Corporati...

Target

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 356.60 from 5 brokers.

Bharat Petroleum Corporation Ltd.

04 Jun 2020

343.60

0.60%

Better-than-expected GRMs lead to a beat

Neutral: Bharat Petroleum Corporati...

Target

Motilal Oswal

4 June 2020 BPCL posted an EBITDA beat in 4QFY20 on better-than-expected reported GRM counterpoised with marginally weaker marketing margins. However, refining throughput (+2% YoY) and marketing sales (-5% YoY) were in line with our estimates. The company has confirmed that throughput ramped up to 83% after a dip to ~63% in Apr20 for all group refineries. Sales demand has also revived and is now 30% lower YoY (up from being ~55% lower in Apr20). Due to slim possibility of a divestment in these circumstances, we maintain a Neutral stance on BPCL. Also, we do not see much upside despite the expected divestment. Reported EBITDA came in higher than est. at INR5.9b (-87% YoY) owing to better-than-expected refining margin. Inventory loss for the quarter stood at INR49b (refining at INR29.6b and marketing at INR19.4b). Adj. for the same, EBITDA came in at INR54.9b.

Bharat Petroleum Corporation Ltd. is trading above all available SMAs

Bharat Petroleum Corporation Ltd.

04 Jun 2020

343.60

0.60%

Bharat Petroleum Corp (BUY): Inventory losses sink earnings

Buy: Bharat Petroleum Corporati...

Recommendation Target

BOB Capital Markets Ltd.

BPCL reported a Q4FY20 EBITDA loss of Rs 6.2bn owing to inventory/forex losses of Rs 49bn/Rs 121bn.

Bharat Petroleum Corporation Ltd. has gained 22.96% in the last 6 Months

Bharat Petroleum Corporation Ltd.

04 Jun 2020

343.60

0.60%

Q4FY20 Result Update - Resilient performance in a tough environment - BUY

Buy: Bharat Petroleum Corporati...

Target

Prabhudas Lilladhar

BPCL with a fully integrated operation remains a prized asset and we expect aggressive bidding by global majors when divestment process kicks in. We marginally tweak our FY21/22 earnings estimates. During FY20, core EBIDTA adjusted for inventory loss was healthy at Rs130bn (+14%YoY) despite lower refining margins ($2.5/bbl vs $4.6/bbl in FY19). Sharp drop in...

Bharat Petroleum Cor.. has an average target of 356.60 from 5 brokers.

Bharat Petroleum Corporation Ltd.

04 Jun 2020

343.60

0.60%

Bharat Petroleum Corporation

Hold: Bharat Petroleum Corporati...

Recommendation Target

ICICI Securities Limited

A sharp reduction in oil demand owing to Covid-19 outbreak resulted in a significant drop in crude oil prices. As a result, average Brent crude oil prices declined by US$12/bbl QoQ to US$50.6/bbl with closing Brent price at US$21.5/bbl. On account of the same, the company reported marketing inventory loss of | 1937 crore. However, core marketing margins were steady during the quarter. In terms of marketing sales, BPCL reported degrowth of 5.5% YoY (mainly due to diesel sales decline) to 10.7 MMT, above our estimates. Going forward, we expect marketing sales volume to improve at 5.1% CAGR in the next two years. Crude throughput in Q4FY20 was up...

Bharat Petroleum Corporation Ltd. is trading above all available SMAs

Bharat Petroleum Corporation Ltd.

31 Mar 2020

343.60

0.60%

Bharat Petroleum Corporation

Buy: Bharat Petroleum Corporati...

Recommendation Target

ICICI Securities Limited

Crude prices witnessed a sharp decline in March due to spread of Covid-19 across the globe and Opec deal failure. A likely increase in oil output by both Saudi Arabia and Russia from Q1FY21E and lower demand are expected to lead to a sizeable oversupply in the oil market. Subsequent low oil prices are expected to significantly affect ONGC's profitability....

Bharat Petroleum Cor.. has an average target of 356.60 from 5 brokers.

Bharat Petroleum Corporation Ltd.

20 Mar 2020

343.60

0.60%

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. has gained 22.96% in the last 6 Months

Is Bharat Petroleum Corporation Ltd. worth buying?

1441 Votes:

Buy 77.65%

Sell 11.59%

Hold 10.76%

RESEARCH REPORTS

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