Result Date: 6th August
Recommendation: Buy
Target Price: Rs424
Ramp up of utilization at the Kochi refinery could aid Bharat Petroleum Corporation (BPCL)’s refinery throughput in the June 2022 quarter. Sales volumes of marketing as well as exports segments is likely to grow at a healthy pace.
Analysts at IIFL Capital Services expect gains in Gross Refining Margin (GRM) in the refining business of BPCL to be offset by losses in its auto fuel retailing business. They therefore forecast net loss of Rs23.37 billion for the company in the quarter. The company is likely to have incurred a loss of Rs 1/ litre on the retailing of petrol in the quarter and a loss of Rs 22/ litre on retailing of diesel.
Key management insights to look into:
| June 2022 estimate | Y-o-Y | |
| PAT (Rs bn) | (23.37) | NA |
Source: IIFL Research
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