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Q4FY22 Preview: BPCL: Revenues seen at Rs14,38,159 million, PAT at Rs31,748 million

Weak performance likely as compared to the year-ago quarter

May 24, 2022 11:21 IST | India Infoline News Service
Result date: 25th May, 2022
Recommendation: Buy
Target price: Rs550
Source: IIFL Research

Bharat Petroleum Corporation (BPCL) could post crude throughput of 8.1 MMT for the March 2022 quarter, up 1.9% sequentially. Volume growth of marketing segment is pegged at ~4% both sequentially as well as over the year-ago quarter. Marketing margins though could remain weak amid rising crude oil prices. Losses in marketing are likely to be offset by inventory gains on oil stocks.

BPCL’s Gross refining margins (GRMs) could come in at $10/bbl, on account of increase in product cracks.

Profit After Tax (PAT) could decline 37% over the year-ago quarter.

Important management insights to watch out for:
  • Growth outlook across all business segments
  • Trends in GRMs, overall profitability
 
Rs Million March 2022 estimates YoY change
Revenue 14,38,159 46%
EBITDA 52,194 3%
Profit After Tax 31,748 (37)%
Source: Brokerage Reports

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