Large cap Maharatna public sector undertaking (PSU) Bharat Petroleum Corporation Ltd (BPCL) on January 22, 2024 declared a rally of 20% year-on-year (YoY) in its consolidated net profit to Rs 3806 crore for the quarter ended December 31, 2024 amid strong marketing margins. It had announced a net profit of Rs 3181 crore in the corresponding quarter of last year, according to its BSE filing.
Current market price of BPCL Ltd shares on BSE stood at Rs 271.15 per share on the Bombay Stock Exchange (BSE) at the time of writing the story. BPCL shares slipped 2.36% till afternoon trade on January 23, 2024.
BPCL Q3 Results
The company said that its net profit zoomed 66%, sequentially as the oil PSU announced profit of Rs 2297 crore for the September quarter. The company’s revenue from operations slipped 2% to Rs 1.27 lakh crore for the Q3 FY25 as compared to Rs 1.3 lakh crore announced in the year ago period.
Bharat Petroleum Corporation Ltd Recommends Dividend
As per the regulatory filing of BPCL dated January 22, 2025, “In continuation of our letter dated 17th January 2025, this is to inform you that the Board of Directors at its meeting held on 22nd January 2025 has declared an Interim Dividend of Rs.5/- per equity share of face value Rs.10/- each i.e.50% for the financial year 2024-25.”
BPCL Sets Record Date For Interim Dividend
The exchange filing of the President of India’s backed PSU stated, “further, the Board of Directors has fixed Wednesday, 29th January 2025 as Record date to determine the eligibility of the shareholders to receive the said Interim Dividend.”
Bharat Petroleum Corporation Ltd Shares Performance
The 52-week high price of BPCL share on BSE stood at Rs 376.00 per share (as on 30/09/2024) and 52-week low price is Rs 231.83 per share (as on 24/01/2024), respectively. BPCL shares recorded a rally of 1.54% in last 1-week, slipped 16.08% in last 3-months, zoomed 17.13% in last 1-year, and jumped 55.16% in last 2-years. In last 10-years, Bharat Petroleum Corporation Ltd shares gained 141.09%.
President of India’s Stake In BPCL
It is important to note that President of India has 52.98% stake in BPCL. BPCL offers shareholders a dividend yield of 3.81%. The PSU has a market cap of Rs 1,17,637.59 crore. The ROE of BPCL stood at 18.74%, according to BSE.
BPCL Dividend History
According to a Trendlyne report, BPCL announced a total of 41 dividends since June 18, 2001. In last 1-year, BPCL announced an equity dividend amounting to Rs 10.50 per share. At the current share price of Rs 275.25 apiece, BPCL offers a dividend yield of 3.81%.
BPCL Shareholding
FII/FPI decreased holdings from 15.39% to 14.71% in December 2024 quarter. Meanwhile, the number of FII/FPI investors rallied from 1413 to 1399 in December 2024 quarter. Mutual Funds increased holdings from 10.90% to 11.49% in December 2024 quarter. Number of MF schemes also surged from 265 to 284 in December 2024 quarter.
Should You Buy BPCL Shares?
According to A R Ramachandran, SEBI registered Independent research analyst, “BPCL is bearish on the daily charts with strong resistance at 288. A Daily close below support of 274 could lead to a targets of 261-235 in the near term.”
Meanwhile, brokerage firm Jefferies maintained positive outlook on BPCL shares despite mixed results. The analyst has revised the target price for BPCL shares to Rs 370 from Rs 410 assigned previously. The brokerage firm sought to maintain positive stance on BPCL highlighting that the outlook for refining this year will be better amid the current global refinery closure that will likely outpace demand growth. The analyst highlighted optimism about the PSU’s capacity to handle LPG losses depending on govt support for under recoveries.
Meanwhile, CITI Research also recommended buy call with target price of Rs 390 per share amid its attractive valuations and soaring marketing profitability.
The analyst expects the company’s outlook will remain positive, indicating its hard work to handle inventory losses and expecting likely compensation for LPG under-recoveries.
Morgan Stanely has also assigned buy call to BPCL shares with target price of Rs 419 per share, highest among all brokerages. Nomura too suggested shareholders to buy BPCL shares with target price of Rs 380 per share. On the other hand, JP Morgan too recommended investors to buy BPCL stock with target price of Rs 417 per share.
It announced a surge of 68% in its Ebitda to Rs 7,580 crore for the quarter under review from Rs 4,512 crore declared in the year ago period along with the margin improvement to 6.7% from 4.4%.
Bharat Petroleum Corporation About
BPCL, a Maharatna PSU, seeks to fulfill the energy requirements of the nation with a combined refining capacity of over 40 MMT through refineries in Mumbai, Kochi, Numaligarh and Bina, which are strategically located. One of the best in class & digitally enabled refineries with state-of-the-art technology, efficient operations and high standards of quality, safety, occupational health, environment protection and security, according to its official website.
Disclaimer
The stock has been picked from the brokerage report of A R Ramachandran, Jefferies, Citi Research, Nomura, and JP Morgan. Moneydaily.in, the Author, and the respective Brokerage House will not be held accountable for any losses caused as a result of decisions based on the article. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.
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