Related
HDFC Securities has add call on Bharat Petroleum Corporation Ltd. with a target price of Rs 475. The current market price of Bharat Petroleum Corporation is Rs 425.3 Time period given by analyst is one year when Bharat Petroleum Corporation Ltd. price can reach defined target.
Bharat Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 92214.93 Crore) operating in Gas & Petroleum sector.
Bharat Petroleum Corporation Ltd. key Products/Revenue Segments include Petroleum Products, Oil Crude, Other Operating Revenue, Subsidy for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 102596.50 Crore, up 43.76 % from last quarter Total Income of Rs 71365.44 Crore and up 106.38 % from last year same quarter Total Income of Rs 49713.32 Crore. Company reported net profit after tax of Rs 2725.07 Crore in latest quarter.
Investment Rationale
The brokerage's ADD rating on Bharat Petroleum (BPCL) with a price target of INR 475 is premised on (1) recovery in domestic demand for petroleum products in FY22 and FY23, (2) improvement in refining margins over the coming 18 months, and (3) sustainability of auto fuel gross margin over INR 4.5/lit. Q2FY22 EBITDA/APAT were 6/26% above estimates, owing to higher-than- anticipated GRM at USD 6.04/bbl, higher-than-expected refining throughput, higher-than-expected other income and lower-than-expected finance cost.
Promoter/FII Holdings
Promoters held 52.98 per cent stake in the company as of 30-Sep-2021, while FIIs owned 11.97 per cent, DIIs 21.72 per cent.
Bharat Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 92214.93 Crore) operating in Gas & Petroleum sector.
Bharat Petroleum Corporation Ltd. key Products/Revenue Segments include Petroleum Products, Oil Crude, Other Operating Revenue, Subsidy for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 102596.50 Crore, up 43.76 % from last quarter Total Income of Rs 71365.44 Crore and up 106.38 % from last year same quarter Total Income of Rs 49713.32 Crore. Company reported net profit after tax of Rs 2725.07 Crore in latest quarter.
Investment Rationale
The brokerage's ADD rating on Bharat Petroleum (BPCL) with a price target of INR 475 is premised on (1) recovery in domestic demand for petroleum products in FY22 and FY23, (2) improvement in refining margins over the coming 18 months, and (3) sustainability of auto fuel gross margin over INR 4.5/lit. Q2FY22 EBITDA/APAT were 6/26% above estimates, owing to higher-than- anticipated GRM at USD 6.04/bbl, higher-than-expected refining throughput, higher-than-expected other income and lower-than-expected finance cost.
Promoter/FII Holdings
Promoters held 52.98 per cent stake in the company as of 30-Sep-2021, while FIIs owned 11.97 per cent, DIIs 21.72 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
Pick the best companies to invest
BECOME AN ETPRIME MEMBERRead More News on
Download The Economic Times News App to get Daily Market Updates & Live Business News.