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BPCL Q3FY22 Preview: Revenue seen at Rs 889,262 million, PAT at Rs 35,078 million

28 Jan 2022 , 12:54 PM

Result date: 31st January, 2022
Recommendation: Buy
Target price: Rs. 550
(Source: IIFL Research)

In line with its peers, Oil marketing company (OMC), Bharat Petroleum Corporation (BPCL) could record robust performance for the quarter ended December 31, 2021. Higher prices of Brent crude and healthy demand could aid both gross refining margins or GRMs as well as volumes for the OMCs. Price hikes will aid marketing margins in the quarter even as volumes could grow at a healthy pace on a sequential basis. Lower price hikes in domestic LPG though could have some impact on the results.

BPCL’s GRMs are estimated to come in at US$6.5/bbl.

Rs. Million December 2021 estimates
Revenue 889,262
EBITDA 55,587
% change YoY 29%
% change QoQ 24%
PAT 35,078
% change YoY 10%
% change QoQ 30%
Source: Company, IIFL Research

Related Tags

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  • Q3FY22
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