India · Delayed Price · Currency is INR Bharat Petroleum Corporation Earnings Call Transcripts
Fiscal Year 2026
-
Q1 FY2026 featured strong operational performance, robust retail fuel margins, and continued expansion in retail, CNG, and green energy. GRMs declined due to volatile oil prices and lower Russian crude discounts, but CapEx and financial leverage remain well managed.
Fiscal Year 2025
-
Q4 saw strong operational performance with record refinery throughput, robust sales growth, and a GRM of $9.2/bbl. CapEx is set to rise, with major investments in CGD, Mozambique, and petrochemicals, while risks remain from oil price volatility and under-recoveries.
-
Q3 FY25 saw strong operational performance with refinery throughput at 107% capacity, revenue of INR 127,521 crores, and PAT of INR 4,649 crores. Major CAPEX plans are underway, with a focus on renewables and petrochemicals, while Russian crude supply risks and LPG under-recoveries remain key uncertainties.
-
Q2 FY25 saw revenue of ₹117,952 crore and PAT of ₹2,397 crore, with strong refinery throughput and market share gains despite LPG and marketing losses. CapEx is on track, debt remains manageable, and major projects in petrochemicals and renewables are progressing.
-
Q1 revenue reached INR 128,103 crore with PAT at INR 3,015 crore, absorbing INR 2,300 crore LPG under-recovery. Refinery throughput and margins remained strong, while CapEx focus continues on refining, petrochemicals, and CGD expansion.