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Bharat Petroleum Corporation Limited
Sector:Oil and Gas Oil and Gas - Refining and Marketing
BSE:500547NSE:BPCLBloomberg:BPCL@INReuters:BPCL.BO
Market Lot: 1Face Value: 10ISIN Demat: INE029A01011
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12-Feb-2018
Business Profile
Bharat Petroleum Corporation (BPCL), a public sector undertaking, is a Fortune 500 Company involved in the business of refining, storing, marketing and distributing petroleum products. It was incorporated on Nov. 3, 1952 as a private limited company and got its current name in 1977. Ashok Sinha is the chairman and managing director of the company.

The organizational structure of BPCL has been revamped to form six new strategic business units of refinery, retail, industrial & commercial, lubricants, aviation and LPG. The company manufactures petroleum and petroleum products, asphalt, bituminous substances, carbon, carbon black, hydrocarbons, mineral substances and by-products. BPCL currently has refineries in Mumbai and Kochi with a capacity of 12 MMT and 7.5 MMT per annum respectively for refining crude oil. BPCL`s subsidiary in Numaligarh has a capacity of 3 MMTPA.

BPCL has signed farm-in agreements for acquiring participating interest in an Australian block in the Timor Sea and in the North Sea (UK). It plans to upgrade its refinery at Mumbai to produce Euro-IV standard petrol and diesel and to bring in equity of Rs 10 billion into the JV company Bharat Oman Refineries, which is implementing the six-million ton refinery project in Bina (Madhya Pradesh). BPCL is entering the Sri Lankan market to market its Mak brand of lubricants and will market certain BSNL products in Kerala.

In 2006, BPCL was voted as one of the leading brands in India by MEDIA, a leading international magazine and ranked 110 in Platts 2006 world ranking. BPCL caters to the fuel needs of approximately 8,000 industrial customers spread across the country, including defence, railways, ..etc. It is looking to export LPG. The registered office is at Bharat Bhavan, 4&6 Currimbhoy Road, Ballard Estate, Mumbai-400001.


Financials
The company disclosed rise of 80.62% in standalone net profit on y-o-y basis to Rs 23.57 billion, while total income increased 16.08% y-o-y basis to Rs 649.28 billion for the quarter ended September 2017.

Recent Developments
12-FEB-18
Bharat PetroResources (BRPL), a 100% subsidiary of Bharat Petroleum Corporation and its exploration and production arm along with ONGC Videsh and Indian Oil Corporation has been awarded 10% stake in Lower Zakum Concession, Offshore Abu Dhabi.

12-SEP-17
Bharat Petroleum Corporation (BPCL) has been conferred with Maharatna Status by Government of India. Accordingly, the company is empowered to exercise the powers of a Maharatna Company as governed by relevant guidelines issued by Department of Public Enterprises.

17-AUG-17
Energy Efficiency Services (EESL), under the Ministry of Power, today signed a Memorandum of Understanding (MoU) with Oil Marketing Companies (OMCs) under the Ministry of Petroleum and Natural Gas (MoPNG) for distribution of energy efficient appliances under the flagship Unnat Jeevan by Affordable LEDs and appliances for All (UJALA) scheme.

16-JUN-17
Oil marketing companies (OMCs) slashed petrol price by Rs 1.12 a litre and diesel price by Rs 1.24 a litre excluding state levies w.e.f. midnight of June 16, 2017.

01-JUN-17
Oil marketing companies (OMCs) hiked petrol price by Rs 1.23 a litre and diesel price by 89 paise a litre excluding state levies w.e.f midnight of June 1, 2017. The move to increase the price comes after the price for petrol were cut by Rs 2.16 per litre and Rs 2.10 a litre for diesel prices on May 16.

30-MAY-17
Bharat Petroleum Corporation disclosed a sharp drop in standalone net profit for the quarter ended March 2017. During the quarter, the profit of the company declined 12.97% to Rs 18,416.80 million from Rs 21,160.30 million in the same quarter last year.

16-MAY-17
Oil marketing companies (OMCs) slashed petrol price by Rs 2.16 a litre and diesel price by Rs 2.10 a litre excluding state levies w.e.f. midnight of May 16, 2017. The reduction, which will be effective from Monday midnight, comes on back of a marginal 2 paise per litre increase in petrol and 52 paise per litre hike in diesel rates effected from May 1, 2017.

02-MAY-17
Oil marketing companies (OMCs) hiked petrol price by 1 paisa a litre and diesel price by 44 paisa a litre excluding state levies w.e.f midnight of May 1, 2017. With this revision the prices of petrol and diesel in Delhi have reduced to Rs 1.39 a litre and Rs 1.04 a litre respectively.



In Brief

 
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