Bharat Petroleum Corporation Ltd

BSE: 500547 | NSE: BPCL | ISIN: INE029A01011 
Market Cap: [Rs.Cr.] 61,432.88 | Face Value: [Rs.] 10
Industry: Refineries

Director's Report

On behalf of the Board of Directors, I take pleasure in presenting the Annual Report onthe performance of Bharat Petroleum Corporation Limited (BPCL) for the year ended 31stMarch, 2014.


Group Performance

During the year 2013-14, the aggregate Refinery throughput at BPCL’s Refineries atMumbai and Kochi, along with its subsidiary company, Numaligarh Refinery Limited (NRL) andconsidering 50% throughput of Joint Venture Company, Bharat Oman Refineries Limited (BORL)was 28.69 Million Metric Tonnes (MMT) in comparison to 28.55 MMT in 2012-13. The BPCLGroup ended the year with market sales of 34.31 MMT as against 33.67 MMT in the previousyear. The group’s exports of petroleum products during the year stood at 3.06 MMT ascompared 3.22 MMT in 2012-13.

In the financial year, the group achieved a Gross Revenue from Operations of Rs2,76,005.09 crores as compared to Rs 2,53,285.57 crores recorded in 2012-13. The Profitafter Tax was at Rs 4,052.98 crores in 2013-14 as against Rs 1,936.15 crores in theprevious year. After setting off the minority interest, the Group earnings per shareincreased to Rs 54.08 in the current year from Rs 26.01 in 2012-13.


2013-14 2012-13
Physical Performance
Crude Throughput (MMT) 28.69 28.55
Market Sales (MMT) 34.31 33.67
Financial Performance Rs Crores
Gross Revenue from Operations 2,76,005.09 2,53,285.57
Less: Excise Duty Paid (11,598.49) (11,104.59)
Net Revenue from Operations 2,64,406.60 2,42,180.98
Gross Profit 10,758.74 8,201.25
Finance Cost 1,982.14 2,518.29
Depreciation & amortization expense 2,610.92 2,462.70
Profit before tax 6,165.68 3,220.26
Provision for taxation – Current (Net of MAT Credit Entitlement) 2,554.43 1,398.88
Profit after Current Tax 3,611.25 1,821.38
Provision for taxation – Deferred (Asset )/Liability (355.31) (72.65)
Short /(Excess) provision for Taxation in earlier years provided for (86.42) (42.12)
Net Profit 4,052.98 1,936.15
Minority Interest 142.30 55.32
Net Income of the group attributable to BPCL 3,910.68 1880.83
Group Earnings per share attributable to BPCL (Rs ) 54.08 26.01


2013-14 2012-13
Physical Performance
Crude Throughput (MMT) 23.35 23.21
Market Sales (MMT) 34.00 33.30
Rs Crores
Financial Performance
Gross Revenue from Operations 2,71,037.35 2,50,649.26
Gross Profit 9,554.88 7,787.03
Finance Cost 1,359.08 1,825.24
Depreciation & amortization expense 2,246.82 1,926.10
Profit before tax 5,948.98 4,035.69
Provision for Taxation – Current (Net of MAT Credit Entitlement) 2,275.00 1,173.29
Provision for Taxation – Deferred (294.82) 255.16
Short/(Excess) provision for taxation in earlier years provided for (92.08) (35.66)
Net Profit 4,060.88 2,642.90
Balance brought forward 500.00 500.00
Amount available for disposal 4,560.88 3,142.90
The Directors propose to appropriate this amount as under:
Towards Dividend:
Final (proposed) Dividend 1,229.24 795.39
Corporate Dividend Tax 196.58 127.47
For transfer to Debenture Redemption Reserve 196.84 -
For transfer to General Reserve 2,438.22 1,720.04
Balance carried to Balance Sheet 500.00 500.00
Summarized Cash Flow Statement :
Cash Flows:
Inflow/(Outflow) from operations 8,404.10 5,480.45
Inflow/(Outflow) from investing activities (4,285.89) (2,387.16)
Inflow/(Outflow) from financing activities (6,243.73) (1,743.25)
Net increase/(decrease) in cash & cash equivalents (2,125.52) 1,350.04

Company Performance

During 2013-14, BPCL recorded a Revenue from operations of Rs 2,71,037.35 crores, thusregistering an increase of 8.13% over the previous year’s revenues of Rs 2,50,649.26crores. The profit before tax for the year 2013-14 stood at Rs 5,948.98 crores as comparedto Rs 4,035.69 crores in 2012-13. After providing for tax, (including deferred tax) of Rs1,888.10 crores as against Rs 1,392.79 crores during the last year, the profit after taxfor the year was certified at Rs 4,060.88 crores as against Rs 2,642.90 crores reported in2012-13. This has been an unprecedented performance by BPCL.

In 2013-14, the earnings per share amounted to Rs 56.16 as compared to Rs 36.55 in2012-13. Internal cash generation during the year increased by 15% and stood at Rs4,585.64 crores as against Rs 4,001.68 crores in 2012-13.

There was an increase in the amount of taxes and duties contributed to the exchequer byBPCL to Rs 43,602.22 crores from Rs 38,028.20 crores in the previous financial year.

As on 31st March, 2014, the net worth of BPCL was computed as Rs 19,458.76crores, as compared to Rs 16,634.02 crores as at the end of the previous year.


A dividend of 170% has been recommended by the Board of Directors (Rs 17 per share) forthe 2013-14, on the paid-up share capital of Rs 723.08 crores. The dividend of Rs 1,425.82crores (including Rs 196.58 crores for Corporate Dividend Tax) will be disbursed from theamount of profit after tax.


In March 2014, the Company has issued 3% Bonds 2014 - 2019 for CHF 200 Million. The NetProceeds of this Bond Issue were used for working capital purposes.

The Bonds are listed on the SIX Swiss Exchange.

There has been a 26% reduction in the amount of borrowings from banks as at year end toRs 13,843.68 crores from Rs 18,774.07 crores as at 31st March, 2013. The loansfrom

Oil Industry Development Board have also recorded a decrease to Rs 321.25 crores as at31st March, 2014 as compared to Rs 593.50 crores at the end of the previousyear. Debentures worth Rs 700 crores issued during the year 2012-13 remained outstandingas on 31st March 2014. The Collateralized Borrowing and Lending Obligation(CBLO) through Clearing Corporation of India Limited amounted to Rs 1,101.25 Crores as at31st March, 2014. 4.625% US Dollar International bonds issued during 2012-13 ofUSD 500 Million (equivalent to Rs 3,004.99 crores) remained outstanding as on 31stMarch 2014. No Commercial Papers remained outstanding as on 31st March 2014, ascompared to Rs 430.00 crores as on 31st March 2013. 3% Swiss FrancInternational Bonds issued during 2013-14 of CHF 200 Million (equivalent to Rs 1,350.39crores) remained outstanding as on 31st March 2014.

The amount of deposits, matured but unclaimed, at the end of the year was Rs 0.14crores. This pertains to 34 depositors.

Capital Expenditure

The total amount of Capital Expenditure incurred during the year 2013-14 was Rs5,560.39 crores as compared to Rs 3,544.40 crores during the year 2012-13.

C&AG Audit

The Comptroller and Auditor General of India (C&AG) has no comment upon orsupplement to the Statutory Auditors’ Report on the Accounts for the year ended 31stMarch 2014. The letter from C&AG is annexed as Annexure E.



The Corporation’s refineries achieved excellent performance during 2013-14consistently registering an overall capacity utilisation of over 100%. During the periodunder review, Mumbai Refinery achieved throughput of 13.03 MMT of feedstock (crude oil andother feedstock) as against 13.10 MMT achieved in 2012-13. Despite having planned shutdownof two crude processing units, Mumbai Refinery achieved this level of throughputrepresenting a capacity utilization of 108.6% almost similar to previous year utilizationlevels.

During the period under review, Mumbai refinery achieved its highest ever production of83 TMT of Propylene (C3), 1437 TMT of Motor Spirit (MS) and Methyl Tertiary Butyl Ether(MTBE), 5577 TMT of High Speed Diesel (HSD), and 239 TMT of Lube Base oils. MumbaiRefinery has again demonstrated its ability to meet the demand for MS & HSD complyingwith Euro IV quality norms.

The Gross Refining Margin (GRM) for the year stood at USD 3.95 per barrel as comparedto USD 4.67 per barrel realized in 2012-13. The overall gross margin for the refinery in2013-14 amounted to Rs 2,340 crores as compared to Rs 2499 crores in 2012-13. The lowerGRM in Mumbai Refinery for the year 2013-14 can be attributed to lower product cracks.


Kochi Refinery, for the second year in succession, achieved a throughput crossing the10 MMT mark by clocking 10.32 MMT in 2013-14 as compared to 10.10 MMT in 2012-13.Thecapacity utilization of the refinery during the year was 108.6% as against 106.3% in theprevious year. During the year, Kochi Refinery achieved its highest ever production of 514TMT LPG, 1529 TMT of MS, 466 TMT of ATF and 4761 TMT of HSD.

The GRM for the year 2013-14 amounted to Rs 2,249 crores (USD 4.80 per barrel @ averageUSD / INR exchange rate Rs 60.50) as compared to the GRM of Rs 2,211 crores (USD 5.36 perbarrel @ average USD / INR exchange rate Rs 54.45) for the year 2012-13.

The details of the performance of the Refineries, their activities and future plans arediscussed in the Management Discussion and Analysis Report (MD&A).


As informed in the last year’s Report, merger of the erstwhile Kochi RefineriesLimited (KRL) with BPCL under Sections 391 to 394 of the Companies Act 1956 had beencompleted, following receipt of the Order dated 18th August 2006 issued by theMinistry of Company Affairs, New Delhi. One of the Shareholders of the erstwhile KRL hadfiled a Writ Petition in the Delhi High Court challenging the merger. The Court had videits order dated 3rd October, 2013 dismissed the writ petitions and pendingapplications in default and on account of non-prosecution.


During the year 2013-14, BPCL’s market sales volume touched a level of 34.00 MMTas compared to 33.30 MMT in the previous year. This represented a growth rate of 2.10%over the previous year. BPCL’s market share amongst the public sector oil companiesstood at 23.48% as at 31st March, 2014, as compared to 23.14 % as at the end ofthe previous year.

A detailed discussion of the performance of the Marketing function is given in theMD&A.


Integrated Refinery Expansion Project (IREP) at Kochi

The project envisages capacity expansion of Kochi Refinery from 9.5 Million MetricTonnes Per Annum (MMTPA) to 15.5 MMTPA and modernisation of processing facilities toproduce auto-fuels conforming to Euro-IV/ V specifications. It also envisages refineryresidue stream upgradation to value added products.

The project involves a capital outlay of Rs 16,504 crores and is expected to becompleted in May 2016. The project has achieved an overall physical progress of 47.67 %with cumulative expenditure of Rs 2,563.75 crores as on 30th June 2014.

All the major statutory clearances have been obtained. Jobs relating to HAZOP review ofmajor process units and offsites, 3D model reviews of facilities and site grading andpiling of major units have been completed. Civil, structural and underground piping jobsof units and offsites are in progress. Foundations of major equipment and structures areprogressing at site. The ordering of major packages and long lead items has beencompleted. Contracts for all packages, composite mechanical jobs for units and offsiteshave been awarded.

A work force of more than 6000 labourers has been engaged at site on a daily basis. TheIREP site has completed 17.6 million lost time accident (LTA) free man-hours as on 31stJuly, 2014. Planting of saplings has commenced to develop a green belt of 20,000 treesaround the project site. Liquid effluent from all the units of IREP will be converted toDe-mineralized water by employing state-of-the-art technology and will be used in boilers.The Government of Kerala continues to provide proactive support to the project includingfinancial incentives. The IREP site has also been declared as a strike-free zone.

Capacity Augmentation of Kota-Piyala Section of MMBPL Pipeline

The capacity augmentation project of the Kota-Piyala section of theMumbai-Manmad-Manglia-Piyala–Bijwasan pipeline from 2.8 MMTPA to 4.4 MMTPA, toevacuate products from Bina Refinery and also to meet the growing demand for petroleumproducts in the Northern region has been completed in June 2013. The approved project costis Rs 152.89 crores and the cumulative expenditure on the project was Rs 135.80 as on 30thJune 2014.

Kota Jobner Pipeline Project

To economize transportation of MS/SKO/HSD from BPCL’s Mumbai refinery as well asBORL’s refinery at Bina, the project of laying a 210 km long and 14" (35.6 cms)dia. cross-country pipeline from Kota to Jobner (near Jaipur) was envisaged. The estimatedcost of the project is Rs 276.27 crores.

Petroleum and Natural Gas Regulatory Board (PNGRB) authorization for laying thepipeline has been received. The project has achieved an overall physical progress of 74.5%with cumulative expenditure of Rs 139.50 crores as on 30th June, 2014. Theproject is anticipated to be complete by March 2015.

Continuous Catalytic Regeneration Reformer (CCR) Facilities and Hydrocracker Revamp atMumbai Refinery

The project has been undertaken to increase the production of Euro IV grade MS and HSDat Mumbai Refinery. This involves revamping of the Hydrocracker Unit to increase itscapacity from 1.75 MMTPA to 2.0 MMTPA and setting up of new Continuous CatalyticRegeneration Reformer Unit (CCR) of 1.2 MMTPA capacity with matching new Naphtha HydroTreater Unit (NHT) and new Pressure Swing Absorber (PSA) Units and other utilities/offsitefacilities at an approved cost of Rs 1827 crores.

NHT and CCR units along with offsite facilities were mechanically completed on 10thDecember, 2013. NHT was commissioned on 13th February, 2014 and CCR wascommissioned on 4th March, 2014 with a cumulative expenditure of Rs 1,596.54crores as on 30th June, 2014.

Replacement of CDU /VDU at Mumbai Refinery

The project envisaged installation of a new state-of-the-art integrated Crude &Vacuum Distillation unit (CDU-4) of 6 MMTPA capacity to improve mechanical integrity andenhance safety & environment in place of the existing old standalone Crude and VacuumUnits.

The project approved cost is Rs 1419 crores and Engineers India Limited (EIL) has beenappointed as Engineering, Procurement, Construction & Management Consultant (EPCM) forthe project. ‘Petroleum and Explosive Safety Organization’ (PESO), Environmentclearance and ‘Directorate of Industrial Safety and Health’ (DISH) approvalshave been obtained for the project. The project has achieved overall physical progress of77.63% and cumulative expenditure of Rs 599.48 crores as on 30th June 2014. Civil andstructural work is in progress and the main Crude and Vacuum column has been erected atsite. CDU/ VDU heater, cooling tower construction, equipment erection and piping works arein progress. The mechanical completion of the project is scheduled in March 2015.

Pipeline for Transfer of LPG from BPCR / HPCR Mumbai to Uran

The project envisages laying a 28 km pipeline (12 km offshore and 16 km onshore) andprovision of 3 x 900 MT Mounded Storage Vessels (MSVs) at BPCL’s Uran LPG Plant. Thepipeline is being laid to transfer LPG from BPCL’s Mumbai refinery and the Mumbairefinery of Hindustan Petroleum Corporation Limited (HPCL). This would significantlyreduce the road movement of product being currently undertaken by both BPCL & HPCLfrom their refineries at Chembur, Mumbai. The pipeline portion of the project costing Rs229.59 crores will be shared equally with HPCL. The MSVs are expected to cost around Rs47.24 crores and will be on BPCL’s account.

The entire length of pipeline laying has been completed. The project has achieved anoverall physical progress of 98.8% with cumulative expenditure of Rs 257.90 crore as on 30thJune 2014. Pre-commissioning activities are in progress.


The Research and Development Centres of BPCL are consistently following the globaltrends of technology innovations for energizing lives. The R&D Centres are activelyinvolved in supporting the businesses through constant advanced technical support andnovel product / process technology development in niche areas leading to new businessdevelopment. The core research areas are broadly divided into four categories, namelyRefinery processes upgradation / optimization, development of novel energy efficienttechnologies, product development and alternative fuels and energy. R&D capabilitiesat the Corporate R&D Centre, Greater Noida, Uttar Pradesh, Product & ApplicationDevelopment Centre, Sewree, Mumbai and the R&D Centre at Kochi Refinery are beingleveraged towards business growth of the Company and achieving the corporate vision.BPCL’s R&D programmes have been discussed separately in the MD&A. Further,the areas covered under R&D and the benefits derived from R&D activities aredetailed in Form B of Annexure A to the Directors’ Report.


BPCL’s endeavours of reducing the carbon footprint and protecting the environmentcontinued during the year. The Corporation reinforced its footprint in the renewableenergy front by installing 5 MW capacity windmills in the hilly range of Kappatguda inChitradurga District, Karnataka. The windmills are currently in operation and powerproduced is sold to Karnataka State Electricity grid. This project has qualified for CleanDevelopment Mechanism (CDM) benefit. We are currently evaluating setting up more windmillsin Gujarat, Maharashtra, Madhya Pradesh and Tamil Nadu depending on availability of landand other commercial considerations.

BPCL is evaluating a proposal to set up a grid connected Solar Farm of about 5 MWcapacity, either on its own or through a Joint Venture, at various select locations, forwhich feasibility is being carried out.


The overall Industrial Relations climate remained peaceful and cordial throughout theyear. Long Term Settlements on Wages & Other Matters and Promotion Policy have beensuccessfully signed with Marketing Unions in January 2014. Long Term Settlements on Wages& Other Matters with Kochi Refinery and Mumbai Refinery Unions were signed on 30thMay 2013 and 31st May 2013 respectively.


The true spirit of Corporate Social Responsibility has long since been ingrained in theDNA of BPCL. Our core thrust areas for projects are first Education and WaterConservation, closely followed by Skill Development, Health and Community Development.BPCL achieved its MOU targets for the year 2013-14, which included reaching out to 75,000children for imparting quality education, 30 villages for Water Conservation throughRainwater Harvesting and 750 beneficiaries for income generation through skill developmentprograms. For Project BOOND, BPCL was recently conferred with World PetroleumCouncil’s "Excellence Award for Social Responsibility" amongst more than100 nominations under this category, from across the world.

Project Computer Assisted Learning (CAL) was started in 2009-10 with 11 Zilla Parishadschools in Uran with the NGO, Pratham Infotech Foundation. This was scaled up to over ahundred schools in Mumbai, Uran, Panvel (Maharashtra) and Lucknow (UP). Around 90% of theschools in Uran block are digitally enabled. The Digital Literacy and Life Skills Project,also in partnership with Pratham Infotech Foundation, completed its third and final yearacross 40 low income/ BMC schools in Mumbai, reaching out to 22,200 children. Theone-of-a-kind Science Education Programme, in collaboration with the NGO, ‘AgastyaInternational Foundation’ for children of Government schools near the Solur LPG Plantin Bangalore has been extended to make hands-on science education available among poorrural children and teachers. In addition to the Science Centre hub, mobile science lab andlab-in-a-box activities, BPCL introduced a new "Young Instructor Leader"program. This program is focused at democratizing leadership development and unlockinghuman potential through the ‘students-teach students’ model. The TeacherTraining module too has been started for addressing teacher absenteeism, rote based &uninspiring education and lack of interaction between teachers and the student. So far, wehave reached out to over 23,100 children in the last year.

Our Read India project for impacting learning levels of children, has been scaled up tocover 13 blocks and also includes upper primary students in 6 blocks, where focus was oncomprehension and application based abilities. We have continued with learning camps forchildren from the primary level in all 13 blocks. In a third party assessment carried outof the project, it was highlighted that overall learning levels, both of factual knowledgeand comprehension, were higher in students who had been a part of the intervention program(learning camps). Around 23,800 children from both, primary and upper primary classes,were a part of our learning camps and benefitted in the last year. Along similar lines,through our project for education of tribal students in Mayurbhanj and Sundergarhdistricts of Odisha, 4453 children now have access to school education.

This year, we have completed our unique in-house pilot project for professionaldevelopment of primary teachers & principals from low income schools. Further, we tookup a new library project aimed at impacting literacy and reading skills and therefore,increasing creative thinking and supplementing learning on the whole. In order to providechildren with access to not only books to read, but also teach them how to manage theentire library, we set up 20 libraries in Mumbai and Delhi where over 3800 children arebenefitted.

Project Bala Janaagraha is aimed at instilling good citizenry in children as the key tobuilding good and vibrant nations. This unique civic education project targeted creatingresponsible and proactive citizens through conducting civic sessions in schools which gave2247 children know-how about their rights and duties. A Mini Civic fest, City level Civicfest and National Civic fest were held in which the children participated in nationwidecompetitions.

Through training in the art of chikankari embroidery, 500 women now have steady incomesand are financially independent. Similarly, after training in zardosi & aari workabout 200 women in Loni earn and save enough to send their children to school.

A project in Patna named Livelihood Advancement Business School (LABS) consisted ofplacement linked training of 88 unemployed youth who are now employed in securityservices, hospitality, ITES, customer relations, sales and housekeeping. We recently begana LABS project for Persons with Disabilities in Mumbai and Noida. The 38 youth who weretrained were then placed and tracked for up to 3 months post placement to ensure jobretention. Along similar lines in Kolkata, we trained 80 disabled youth from economicallybackward families in Desktop Publishing. 150 rural youth have been trained in skills likeagro equipment repairing, nursery development, vermicomposting and mechanics in Nagpur andWardha near our business units.

Our water project Rs Boond’ has covered 41 villages this year from TamilNadu and Karnataka. Boond now spans across India in Tamil Nadu, Andhra Pradesh, Rajasthan,Maharashtra, Karnataka and Uttar Pradesh. The community that is benefitted by thewater-structures built or repaired, plays an active role in building and maintaining thestructure that contributes to their daily needs. Over 6100 families have been benefitedand over 600 hectares of land are under irrigation ensuring steady water supply for Kharifcrops. This project also supports sustainable employment through agriculture, fishculture, cattle rearing and drinking water made available through special biosand filters.

BPCL initiated a pilot project in one of our retail outlets in Padgha where truckerswho drive in to fuel can stop and get their eyes checked for free at a fully equippedvision centre. Furthermore, villagers from the nearby community too are served throughthis vision centre. Over 1000 persons have been tested for free and 25% were dispensedspectacles as well.

With an objective to improve and encourage institutional care and safe delivery ofbabies under supervised medical attention, we work with Community Health Volunteers (CHV)called Aarogya Mitra in Vikramgad taluka in rural Maharashtra. These CHVs try to achieveenrolment of tribal women in antenatal care and encourage institutional deliveries. Theyalso provide health services to mother and child through homeopathy and create awarenessabout the importance of healthcare. Through these 35 CHVs, we cover 150 tribal hamletsbelonging to 25 villages with a total population of 50,628 people.

Similarly in HD Kote taluka, Mysore District of Karnataka we support reproductive andchild healthcare of the tribals. Over 60,000 villagers from 56 tribal colonies are beingbenefitted from this project, where there has been a steady increase in institutionaldeliveries, linkage to Government healthcare schemes as well as essential ID documentslike Aadhar card, increase in awareness in the community about immunization, nutrition,infant mortality etc. through regular meetings.


BPCL sportspersons continued to excel in the national and international sports arena invarious disciplines.

Our young star performer for the year, P. V. Sindhu excelled by winning a Bronze Medalin the Women’s Singles Badminton competition at the 2014 Commonwealth Games held atGlasgow, Scotland. Saina Nehwal continued to shine with some creditable wins during theyear. She won the coveted Women’s Singles of 2014 Australian Super Series Badmintontitle, and improved her ranking to World No.7, climbing two spots. Chess wizards P.Harikrishna, Parimarjan Negi and Abhijit Gupta had an outstanding year winning manyinternational events. Abhijit Gupta was also conferred with the prestigious Arjuna Awardalong with P.V. Sindhu this year. Our ace Archer Atanu Das has been a constant member ofthe Indian Archery team and has won medals in various International events. In Billiards,Devendra Joshi once again clinched the Bronze Medal in the World Billiards Championships,thereby taking his overall tally to 10 medals in World Championships. Our Kabaddi andVolleyball teams performed exceedingly well in most of the prestigious tournaments theyparticipated in. In Cricket, Pragyan Ojha performed creditably while representing theIndian Cricket team.

BPCL continues to contribute to the national contingents by way of adding players tothe national teams e.g. Pragyan Ojha in Cricket; Birendra Lakra & Manpreet Singh inHockey; Poulomi Ghatak, Soumyajit Ghosh, Sanil Shetty, Neha Aggrawal in Table Tennis;R.M.V. Guru Saidutt, Saina Nehwal, Jwala Gutta & P.V. Sindhu in Badminton; DevendraJoshi & Manan Chandra in Billiards & Snooker; Harikrishna, Parimarjan Negi,Abhijeet Gupta, G.N. Gopal and M.R. Venkatesh in Chess and Marianne Karmarkar in Bridge.In the Physically Challenged Category, Joby Mathew won several Gold/ Silver medals in theWorld Arm Wrestling Championship.

Our endeavours continue in the various avenues of Sports development through variedsupport mechanisms extended to our players for excelling in sports in

Futures & Options Quote
Expiry Date :
574.05    [16.50] ([2.79]%)
Instrument: FUTSTK
Expiry Date: 31-Jul-2014
Open Price: 589.50
Average Price: 581.31
No. of Contracts Traded: 5,099
Open Interest: 21,10,500
Underlying: BPCL
Market Lot: 500
Previous Close: 574.05
Day's High | Low: 591.95 | 569
Turnover (Cr.): 148.20
Open Int. Change: -6,11,000 ([22.45]% )
Key Information

Key Executives:

S V Kulkarni , Company Secretary

K K Gupta , Director (Marketing)

B K Datta , Director (Refineries)

Shrikant P Gathoo , Director (Human Resources)

Company Head Office / Quarters:

Bharat Bhavan PB No 688,
4&6 Currimbhoy Rd Ballard Est.,
Phone : Maharashtra-91-22-22713000/4000 / Maharashtra-
Fax : Maharashtra-91-22-22713874 / Maharashtra-
E-mail :
Web :


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