NSE/BPCL

BPCLBharat Petroleum Corporation Ltd

Oil & Gas · NSE

₹312.1+1.35%

52-wk low52-WEEK RANGE52-wk high

₹271.3+15.0% from low ·-19.6% from high₹388.3

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

BPCL+8.39% · 1Y

Range high ₹391.65Range low ₹266.6Latest ₹312.1252 bars · daily-close · NSE bhavcopy + 10Y history

Oil & GasOil & Gas Refining & MarketingLargecapMedium Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite63/100

Performance

Low

Hasn't fared well — amongst the weak performers.

· 52w return +2.6%
· Below 200-DMA (-7.5%) — downtrend

Valuation

Low

Appears to be fairly valued to cheap vs peers.

· P/E 5.5 vs sector median 11.9 — 54% cheaper
· PEG 0.28 — growth is priced attractively

Growth

Medium

Steady but not standout growth.

· Revenue YoY +5.2% — slow
· Profit YoY +88.8% — strong earnings growth

Profitability

High

Showing good signs of profitability & efficiency.

· ROE 26.2% — high-quality compounder
· Net margin 3.0% — thin margins

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeB(69/100)

Durability

75/100

Financially resilient — strong quality + solvency profile.

Show 4 drivers

Piotroski F-score8/9 (89pt)
Altman Z" score1.36 (42pt)
Debt/Equity0.56 (81pt)
ROE26.2% (100pt)

Valuation

A+

87/100

Attractively valued vs peers and growth — good margin of safety.

Show 5 drivers

P/E vs sector (5.5 / 11.9)46% (100pt)
PEG0.28 (100pt)
P/B1.44 (40pt)
Dividend yield6.41% (100pt)
EV/EBITDA4.4 (90pt)

Momentum

46/100

Momentum is muted; trend is unclear or rolling over.

Show 5 drivers

52w change+2.6% (48pt)
DMA-trend alignmentdown (25pt)
RSI (14)53.9 (60pt)
Price vs 200-DMA-8.8% (42pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)5.49

UNDERVALUED

CheapestP/E 5.5 at 17th %ile of sector — cheaper than 83% of peers.Most expensive

P/B1.44

FAIR

CheapestP/B 1.44 at 58th %ile of sector.Most expensive

EV/EBITDA4.43

UNDERVALUED

Monthly seasonality

Avg monthly return over 11 years · historical — not a forecast

Best: Jul +4.52% · Worst: Feb -1.94%

Jan

-0.6%

55% win

Feb

-1.9%

25% win

Mar

+0.7%

50% win

Apr

+3.8%

67% win

May

+2.6%

82% win

Jun

-0.8%

Monthly return distribution

Distribution of 135 monthly returns

Mean

+1.13%

Median

+0.82%

Std dev

9.40%

Best

+32.3%

Worst

-27.1%

% positive

56%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 3

High-quality compounder (ROE 26.2%)
Above 20% ROE consistently flags capital-efficient businesses
Financial quality score 8/9
Piotroski ≥7 historically associated with outperformance
Top quartile ROE in Oil & Gas
Rank 2 of 12 peers

WEAKNESSES · 0

No material weaknesses flag from the numbers

OPPORTUNITIES · 2

19% upside to consensus target (₹375)
31 analysts see fair value materially higher
Attractive income yield (6.41%)
Payout ratio 30% leaves room for dividend growth

THREATS · 0

No immediate threats from the data

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

+1.3%

+4.3%

-2.3%

-12.0%

-8.1%

+9.2%

+19.8%

+6.8%

10Y

+7.7%

Fundamentals

VALUATION

Market cap

₹1,37,118 Cr

P/E (TTM)

5.5

P/E (fwd)

7.5

next 12m

P/B

1.44

EV/EBITDA

4.4

Book value

₹219.84

per share

PROFITABILITY · QUALITY

ROE

26.2%

ROCE

—

Net margin

3.0%

Op margin

8.2%

Gross margin

15.6%

D/E

0.56

GROWTH · MARKET

Rev YoY

+5.2%

Profit YoY

+88.8%

Div yield

6.41%

Payout

30.4%

52w change

+2.6%

Beta

1.03

market-ish

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 5

+Trading at -54.0% vs sector median P/EP/E 5.5 vs Oil & Gas median 11.9 — relative value on earnings
+High ROE of 26.2%Capital-efficient business — every rupee of equity generates 26.2 paise of earnings
+Profit growing fast (+88.8% YoY)Operating leverage kicking in — bottom line out-growing top line
+High dividend yield (6.41%)Meaningful income return even before price appreciation
++19% upside to analyst consensus target31 analysts average target of ₹375 vs current ₹316

CONS · 0

No material concerns surface from the ratios alone — still layer qualitative research.

Sector-relative context

Oil & Gas · 12 peers

P/E (TTM)

This stock

5.49

Sector median

11.92

Rank 2/12 (92th %ile)

ROE

This stock

26.2%

Sector median

13.3%

Rank 11/12 (17th %ile)

P/B

This stock

1.44

Sector median

1.43

Rank 7/12 (50th %ile)

Quality score · Piotroski F-score

8 / 9

Strong quality — passes most F-score checks

✓Profitable (positive net income)· Most basic check — company makes money
✓Positive return on assets· Assets generate returns
✓Positive operating cash flow· Profits are backed by real cash, not accruals
✓Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✓Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✓ROA improved YoY· Getting more productive with the asset base
✓Operating margin expanded YoY· Pricing power or cost discipline
✗

Forensic score · Altman Z″ (emerging markets)

Bankruptcy-risk predictor · 1995 Altman emerging-market revision

GREY1.36

Z″ = 1.36 — GREY zone. Not flagged as distressed, but watch the weakest input component below.

Component	Ratio	Weight	Contribution
Working Capital / Total Assets (A)	0.093	×6.56	0.610
Retained Earnings / Total Assets (B)	0.047	×3.26	0.154
EBIT / Total Assets (C)	0.079	×6.72	0.530
Book Equity / Total Liabilities (D)	0.062	×1.05	0.065

Zones: Z″ ≥ 2.60 safe · 1.10–2.60 grey · < 1.10 distress. All four inputs derived from latest annual filing.

Analyst consensus

31 analysts · BUY

Target mean

₹374.97

Target high

₹530.00

Target low

₹220.00

Upside vs today

+18.6%

Street consensus target is +18.6% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Oil & Gas Refining & Marketing

Employees

8,747

Shares out

433.9

Revenue (TTM)

₹4,47,757 Cr

EBITDA

₹38,120 Cr

Total debt

₹52,967 Cr

Cash

₹17,430 Cr

Net debt

₹35,536 Cr

Quarterly results

Last 5 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q4
Revenue	1,02,785	1,13,166	1,09,696	1,12,551	1,19,029
Operating profit	2,738	5,716	6,354	7,789	9,708
OPM %	2.7%	5.0%	5.8%	6.9%	8.2%
Interest	923

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	3,45,596	4,66,258	4,46,666	4,38,738
Operating profit	14,778	7,423	37,674	18,744
OPM %	4.3%	1.6%	8.4%	4.3%
Interest	2,331	3,930	4,100	3,555

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
BPCLTHIS Bharat Petroleum Corporation Limited	₹312.1	+2.6%	1,37,118	5.5	1.44	26.2%	0.56	+5.2%
RELIANCE Reliance Industries Limited	₹1,365	+5.4%	18,44,882	22.2	2.10	9.5%	0.36	+10.4%
ONGC Oil & Natural Gas Corporation Limited	₹284.05	+13.7%	3,56,462	9.4	0.97	10.3%	0.44	+0.8%
IOC Indian Oil Corporation Limited	₹145.88	+5.2%	2,07,399	5.7	1.03	18.1%	0.73	+5.7%
GAIL GAIL (India) Limited	₹157.82	-19.2%	1,03,689	12.1	1.18	9.7%	0.25	-4.5%
HINDPETRO Hindustan Petroleum Corporation Limited	₹370.85	-6.1%	80,751	5.2	1.42	27.1%	1.11	+4.1%
OIL Oil India Limited	₹470.1	+18.8%	76,182	13.1	1.35	—	0.58	-0.1%
PETRONET Petronet LNG Limited	₹273.22	-12.9%	40,739	11.2	1.93	—	0.12	-3.3%
GUJGASLTD Gujarat Gas Limited	₹362.8	-19.4%	25,274	21.8	2.89	13.3%	1.19	+5.1%

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	16.38	17.66	+7.8%
-2q	14.14	15.08	+6.7%
-3q	15.90	16.13	+1.4%
-4q	8.71	10.65	+22.3%

Date	Amount
2026-02-02	₹10.00
2025-11-07	₹7.50
2025-07-31	₹5.00
2025-01-29	₹5.00
2024-08-09	₹10.50
2023-12-12	₹10.50
2023-08-11	₹2.00
2022-08-19	₹3.00
2022-02-10	₹2.50
2021-11-11	₹2.50
2021-09-16	₹29.00
2021-03-25	₹2.50
2021-02-17	₹8.00
2020-03-23	₹8.25
2019-08-21	₹4.00
2019-02-21	₹5.50
2018-08-31	₹3.50
2018-02-22	₹7.00
2017-06-08	₹0.33
2017-03-24	₹4.00

Date	Ratio
2024-06-21	2:1
2017-07-13	3:2
2016-07-13	2:1

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	2,129	2,129	2,136	4,273
Reserves	8,847	9,374	25,273	16,638
Borrowings	64,534	69,376	54,599	61,101
Other liabilities	1,488	585	622	2,281
Total liabilities	1,87,529	1,88,138	2,02,418	2,18,382
Fixed assets	87,587	90,459	93,700	1,00,257
CWIP	5,900	5,921	8,924	13,617
Investments	758	800	1,779	1,777
Other assets	2,008	1,311	1,797	1,744
Total assets	1,87,529	1,88,138	2,02,418	2,18,382

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	20,336	12,466	35,970	23,678
CF Investing	-8,138	-7,806	-10,554	-19,180
CF Financing	-17,672	-4,402	-25,427	-6,241
Net cash flow	-5,474	257	-12	-1,743
Free cash flow	11,790	3,917	26,391	8,535

Metric	2025-FY	2024-FY	2023-FY	2022-FY
OPM %	4.3%	8.4%	1.6%	4.3%
Net margin %	3.0%	6.0%	0.5%	3.4%
ROE %	55.2%	138.0%	19.0%	106.4%
ROCE %	26.5%	49.5%	8.6%	24.3%
Debt / Equity	2.92	1.99	6.03	5.88
Dividend payout %	50%	20%	60%	124%
Interest coverage	6.1×	9.8×	1.7×	7.9×
Revenue growth YoY	-1.8%	-4.2%	+34.9%	—
Profit growth YoY	-50.3%	+1160.4%	-81.8%	—

BPCLBharat Petroleum Corporation Ltd

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Oil & Gas

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Recent news

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Technical snapshot

Earnings history + surprises

Dividends + splits history

Stock scorecard

SWOT analysis

Recent news

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Ratios

Peer comparison · Oil & Gas