BPCL
OVERVALUEDBharat Petroleum
Oil & Gas · NSE
↓ 26.4% vs fair value
52W Low
₹262
+6.1% from low
52W High
₹392
-29.0% from high
Valuation Gauge
Current Price
₹278
Fair Value
₹220
Fair Value Analysis
₹220
Based on free cash flow projections and balance sheet strength analysis and earnings multiple (EV/EBITDA) for Oil & Gas sector companies | Sector-cheap: P/E at 2th percentile vs sector peers. | CAUTION: ROCE declining (latest 17.8%) — returns on capital are falling; verify this isn't a value trap. | COVID-resilient: PAT dropped from ₹8528Cr (FY2019) to ₹3666Cr (FY2020) during COVID but has fully recovered.
Cash Flow Analysis
40% weight
Balance Sheet Value
20% weight
EV/EBITDA Multiple
40% weight
Price vs Market
Shareholding Pattern
Stock Health Score
Financially Healthy
Profitability
ROE of 15.6% is above the Oil & Gas sector benchmark of 10% — strong returns
Debt & Leverage
D/E ratio of 0.6x is well within the Oil & Gas sector norm of 1.5x — strong balance sheet
Valuation vs Peers
P/E of 5.3x trades at a 35% discount to Oil & Gas sector median (8x) — attractively valued
Cash Flow
FCF margin of 1.9% — very thin despite positive FCF (₹8,535 Cr)
Earnings Growth
5yr EPS CAGR of 4.5% is well below Oil & Gas sector average of 14.6%
Dividend
Dividend yield of 7.2% provides strong shareholder returns (benchmark: 3.0%)
Sentiment Trend — Last 30 Days
Historical Returns
Key Ratios & Growth
FCF Yield
3.7%
Free cash flow / market cap
Revenue Growth (YoY)
+3.1%
Year-on-year revenue change
Profit Growth (YoY)
+40.1%
Year-on-year PAT change
Operating Cash Flow
₹23.7K Cr
TTM cash from operations
Key Financials
EPS (TTM)
₹52.2
P/E Ratio
5.3x
P/B Ratio
1.3x
ROE
15.6%
ROCE
17%
Debt / Equity
0.56x
Beta
1.03
Div Yield
7.2%
FCF (Cr)
₹8,535 Cr
Revenue (Cr)
₹4,38,738 Cr
EPS Growth 5Y
4.5%
Mkt Cap (Cr)
₹1,20,676 Cr
52W High
₹391.7
52W Low
₹262
Book Value/Share
₹216.5
Financial History
| Period | Revenue | Op Profit | OPM% | PAT | EPS |
|---|---|---|---|---|---|
| TTM | ₹447.8K Cr | ₹38.9K Cr | 9.0% | ₹24.6K Cr | ₹56.72 |
| 2025-03-31 | ₹440.3K Cr | ₹25.4K Cr | 6.0% | ₹13.3K Cr | ₹30.74 |
| 2024-03-31 | ₹448.1K Cr | ₹44.1K Cr | 10.0% | ₹26.9K Cr | ₹61.91 |
| 2023-03-31 | ₹473.2K Cr | ₹10.9K Cr | 2.0% | ₹2.1K Cr | ₹4.91 |
| 2022-03-31 | ₹346.8K Cr | ₹19.1K Cr | 6.0% | ₹11.7K Cr | ₹26.93 |
| 2021-03-31 | ₹230.2K Cr | ₹21.0K Cr | 9.0% | ₹17.3K Cr | ₹37.26 |
| 2020-03-31 | ₹284.6K Cr | ₹9.0K Cr | 3.0% | ₹3.7K Cr | ₹7.04 |
| 2019-03-31 | ₹298.2K Cr | ₹15.1K Cr | 5.0% | ₹8.5K Cr | ₹17.98 |
| 2018-03-31 | ₹235.9K Cr | ₹15.3K Cr | 6.0% | ₹9.8K Cr | ₹20.76 |
| 2017-03-31 | ₹201.3K Cr | ₹13.8K Cr | 7.0% | ₹9.5K Cr | ₹20.10 |
| 2016-03-31 | ₹187.8K Cr | ₹13.0K Cr | 7.0% | ₹8.1K Cr | ₹18.64 |
| 2015-03-31 | ₹242.6K Cr | ₹9.8K Cr | 4.0% | ₹5.1K Cr | ₹11.08 |
| 2014-03-31 | ₹264.4K Cr | ₹9.4K Cr | 4.0% | ₹4.1K Cr | ₹9.01 |
Compounded Growth Rates
Sales Growth
Profit Growth
EPS Growth
Peer Comparison
Oil & Gas| Stock | Price | Fair Value | MoS% | P/E | ROE | Signal |
|---|---|---|---|---|---|---|
Gulf Oil Lubricants India Limited | ₹891 | ₹1,626.9 | +45.2% | 12.7 | 21.1% | UNDERVALUED |
GP Petroleums Limited | ₹28.7 | ₹44.1 | +35.0% | 5.4 | 7.4% | UNDERVALUED |
Magadh Sugar & Energy Limited | ₹493 | ₹640.5 | +23.0% | 8 | 13.9% | UNDERVALUED |
Oil and Natural Gas Corporation | ₹281.4 | ₹330.7 | +14.9% | 9.5 | 12.2% | FAIRLY_VALUED |
Avadh Sugar & Energy Limited | ₹499 | ₹534.5 | +6.6% | 12.8 | 8.0% | FAIRLY_VALUED |
GAIL India | ₹143.4 | ₹146.9 | +2.3% | 10.9 | 9.8% | FAIRLY_VALUED |
Hindustan Petroleum Corporation Limited | ₹328.9 | ₹333.1 | +1.3% | 4.5 | 12.3% | FAIRLY_VALUED |
Mahanagar Gas | ₹966.6 | ₹849.5 | -13.8% | 9.9 | 17.0% | FAIRLY_VALUED |
Institutional Activity
Bulk deals, block deals, short selling & delivery volume — NSE data
Insider Trading
Community Pulse
Company Documents
Annual reports, concall transcripts & regulatory filings
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