Leading Government-Owned Oil and Gas Company Receives Approval for Rs 6,100 Crore Greenfield Refinery in Andhra Pradesh
These pre-project activities will include initial studies, land identification and acquisition, preparation of the Detailed Feasibility Report, Environmental Impact Assessment, Basic Design Engineering package, and Front-End Engineering Design, among others.
Bharat Petroleum Corporation Ltd. (BPCL) announced that the Board, in its meeting held on Tuesday, 24th December 2024, has approved the commencement of pre-project activities for the establishment of a greenfield Refinery-cum-Petrochemical complex on the East Coast of Andhra Pradesh, at an estimated cost of Rs 6,100 crore. These pre-project activities will include initial studies, land identification and acquisition, preparation of the Detailed Feasibility Report, Environmental Impact Assessment, Basic Design Engineering package, and Front-End Engineering Design, among others. Additionally, BPCL has announced that the trading window for dealing in its securities has been closed from 21st December 2024 to 26th December 2024.
In Tuesday's session, Bharat Petroleum closed with a gain of 0.85 per cent to Rs 291.55 compared to its previous close of Rs 289.10.
Q2 FY25 Results
In Q2 FY25, Bharat Petroleum Corporation Ltd. (BPCL) reported a 9 per cent decline in revenue, which stood at Rs 1,02,790.39 crore, compared to the previous quarter. The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) fell by 20 per cent to Rs 4,546.41 crore, resulting in a reduction in its margin to 4.4 per cent, down from 5 per cent in the previous quarter. Similarly, net profit dropped by 20 per cent, amounting to Rs 2,397.23 crore, reflecting a challenging quarter for the company.
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About the Company
Bharat Petroleum Corporation Limited (BPCL) is a major Indian public sector undertaking engaged in refining crude oil and marketing petroleum products. The company's diverse operations extend beyond refining to encompass retail, LPG, industrial and commercial fuels, aviation fuel, lubricants, and natural gas. BPCL's extensive network of retail outlets, LPG distributors, and industrial customers ensures widespread reach and market penetration.
The company has a market cap of Rs 1.26 lakh crore, and the President of India owns a 52.98 per cent stake in the company. The company has been maintaining a healthy dividend payout of 33.4 per cent and has delivered good profit growth of 28 per cent CAGR over the last 5 years. The stock is up by 31 per cent from its 52-week low of Rs 222.25 per share. Investors should keep an eye on this multibagger Large-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.