# BPCL (BPCL) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/bpcl

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹314
- Change: +2.28%
- As of: 2026-09-18
- 1D return: +2.28%
- 5D return: +3.63%
- 1M return: +1.72%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-09-18_

### Technical Outlook

As of September 18, 2026, BPCL's technical stance is mixed across timeframes, with a daily trend showing weakness while longer-term views suggest potential underlying strength. The daily trend is currently assessed as bearish, with the Supertrend indicator at ₹323.66 and the price trading below the 200-day and 50-day Simple Moving Averages (SMAs). This is contradicted by the monthly timeframe, which indicates a bullish trend with the Supertrend at ₹257.23 and the price above it. The weekly timeframe also shows a bearish Supertrend at ₹350.66, with the price below it and below the 50-day Exponential Moving Average (EMA).

On the daily chart, the price at ₹314.0 is above the 20-day EMA (₹310.44) and 20-day SMA (₹312.20), but below the 50-day SMA (₹314.39) and 50-day EMA (₹311.98). The Average Directional Index (ADX) at 19.69 on the daily chart suggests a lack of strong trending momentum. The nearest support is observed around ₹313.80, which is very close to the current price, followed by ₹310.90. Resistance is noted at ₹320.10 and ₹320.71.

The stock has experienced some market activity in the last 30 days, with 2 positive attention events and 2 downside events. Recent anomalies include a moderate upward price move with increased volume on September 18, 2026, and a high-severity wide intraday range on September 8, 2026. A weekly Inside Bar pattern was active as of September 18, 2026. The stock's risk profile includes an annualized volatility of 28% and a current drawdown of -19%, with a maximum drawdown of -30%.

- Daily trend is bearish (Supertrend at ₹323.66), while monthly trend is bullish (Supertrend at ₹257.23).
- Nearest support levels are ₹313.80 and ₹310.90; nearest resistance levels are ₹320.10 and ₹320.71.
- The stock is trading above its 20-day EMA (₹310.44) and 20-day SMA (₹312.20) on the daily chart.
- A weekly Inside Bar pattern was active on September 18, 2026.
- Current drawdown is -19% with annualized volatility at 28%.

- Inside Bar
- Harami
- Evening Star
- Outside Bar
- Doji

### News Context

The Ramayapatnam refinery project, a significant undertaking for BPCL, was highlighted this week. Andhra Pradesh Chief Minister Naidu urged BPCL to expedite the ₹1.45 lakh crore project, which is intended to boost petrochemical production and yield Euro 6-compliant fuels. This development comes amidst broader market concerns for oil companies, as crude oil prices breached $100 a barrel, potentially impacting margins. While retail fuel marketing margins for petrol and diesel are expected to face losses in September, the overall impact on quarterly results may be mitigated by refining gains. Year-to-date, BPCL shares have seen a decline of 20%, alongside other state-run refiners like HPCL (down 30%) and IOC (down 18%).

- On September 16, 2026, Andhra Pradesh Chief Minister Naidu asked BPCL to speed up the ₹1.45 lakh crore Ramayapatnam refinery project.
- The Ramayapatnam refinery is planned as an ultra-mega project with an investment of approximately ₹1.45 lakh crore, aiming to produce Euro 6-compliant fuels.
- As of September 17, 2026, Brent crude was around $107 a barrel, with expectations of retail fuel marketing losses of ₹7.4 per litre for petrol and ₹10.3 per litre for diesel in September.
- Year-to-date as of September 17, 2026, BPCL shares have declined by 20%.

- Crude shock to hit oil companies' margins, but refining gains could save Q2 show
- These oil and gas stocks will be impacted after export levy revision on petrol, diesel and ATF
- Breaking News Live: World Bank names Nobel laureate Michael Kremer as next chief economist - The Times of India
- Naidu Says Ramayapatnam BPCL Refinery Will Be an Ultra-Mega Project
- Naidu asks BPCL to expedite Ramayapatnam refinery project

### What Changed

Recent news from September 2026 indicates that oil companies, including Bharat Petroleum (BPCL), may face margin pressure due to crude oil prices breaching $100 a barrel. Brent crude was around $107 per barrel, influenced by geopolitical tensions. This is expected to lead to retail fuel marketing losses of ₹7.4 per litre for petrol and ₹10.3 per litre for diesel in September. However, these potential losses might be offset by gains made in the first two months of the quarter, suggesting that the overall financial performance for the second quarter could still see improvement.

In terms of price movement, BPCL's stock closed at ₹314.0 on September 18, 2026, an increase from its previous closing price of ₹307.0. The company continues to be listed on the NSE.

- As of September 18, 2026, retail fuel marketing margins are projected to be negative, with petrol at a loss of ₹7.4 per litre and diesel at ₹10.3 per litre.
- Crude oil prices, specifically Brent crude, reached approximately $107 per barrel in September 2026, impacting potential company margins.
- Despite potential September losses, earlier gains in the quarter may mitigate the overall impact on BPCL's second-quarter financial results.
- BPCL's stock price increased to ₹314.0 on September 18, 2026, from ₹307.0 previously.
- Bharat Petroleum (BPCL) remains listed on the NSE.

- Crude shock to hit oil companies' margins, but refining gains could save Q2 show

### Official Filings

Bharat Petroleum Corporation Limited (BPCL) has scheduled a series of investor and analyst meetings between September 8 and September 22, 2026. These meetings will take place in Dubai, London, Singapore, Hong Kong, and Mumbai. BPCL has also appointed new statutory auditors for the financial year 2026-27, with M/s. M. M. Nissim & Co LLP and M/s. Manohar Chowdhry & Associates selected by the Comptroller and Auditor General of India. In a separate development, BPCL received orders on September 10, 2026, from Gujarat authorities regarding stamp duty and penalties totaling approximately ₹46.13 lakh. These relate to the 2022 amalgamation of Bharat Oman Refineries Limited and earlier land allotment matters. BPCL has stated it will appeal these orders, considering them to have no material impact.

Additionally, the Ministry of Petroleum & Natural Gas extended the tenure of Shri Vetsa Ramakrishna Gupta as Director (Finance) until June 30, 2031.

- BPCL scheduled investor and analyst meetings in Dubai, London, Singapore, Hong Kong, and Mumbai from September 8 to September 22, 2026.
- M/s. M. M. Nissim & Co LLP and M/s. Manohar Chowdhry & Associates appointed as statutory auditors for FY2026-27.
- BPCL ordered to pay approximately ₹46.13 lakh in stamp duty and penalties by Gujarat authorities on September 8, 2026, related to amalgamation and land matters; company plans to appeal.
- Tenure of Director (Finance), Shri Vetsa Ramakrishna Gupta, extended until June 30, 2031.

- Bharat Petroleum Corporation Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- Bharat Petroleum Corporation Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- Bharat Petroleum Coporation Limited has informed the Exchange about Action(s) taken or orders passed (sub-para 20) |SUBJECT: Actions initiated/taken or orders passed-XBRL
- Bharat Petroleum Corporation Limited has informed the Exchange about Action(s) initiated or orders passed |SUBJECT: Action(s) initiated or orders passed
- Bharat Petroleum Corporation Limited has informed the Exchange regarding Change in Auditors of the company. |SUBJECT: Change in Auditors
- Bharat Petroleum Corporation Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL
- Bharat Petroleum Corporation Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- Bharat Petroleum Corporation Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL
- Bharat Petroleum Corporation Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- Bharat Petroleum Corporation Limited has informed the Exchange regarding 'Tenure of Director (Finance)'. |SUBJECT: Updates

### Fundamentals

Bharat Petroleum's recent operating performance shows a mixed trajectory. For the quarter ending June 2026 (Q1 FY27), the company reported a revenue of ₹1,59,527.05 crore. However, this was accompanied by a loss before tax of ₹3,616.77 crore and a net loss for the period of ₹1,872.70 crore. This contrasts with the preceding quarters, where the company reported profits. For instance, in Q3 FY26, revenue was ₹1,36,653.12 crore, with a profit before tax of ₹9,529.56 crore and a net profit of ₹7,188.40 crore. The operating profit margin (OPM) also shifted from positive figures in previous quarters, such as 9.0% in Q3 FY26, to a negative -2.7% in Q1 FY27.

Looking at the balance sheet, total assets have grown from ₹1,36,926 crore in March 2019 to ₹2,48,616 crore by March 2026 (projected). Over the same period, total liabilities have also increased from ₹1,36,926 crore to ₹2,48,616 crore. Borrowings have seen fluctuations, standing at ₹54,599 crore in March 2024 and projected to be ₹61,101 crore by March 2025 and ₹54,424 crore by March 2026. Reserves have shown a steady increase, reaching ₹73,499 crore in March 2024 and projected to be ₹95,898 crore by March 2026. The company's cash flow from operations has been positive historically, with ₹35,936 crore in March 2024, but free cash flow has varied, showing ₹26,391 crore in March 2024 and projected at ₹8,574 crore for March 2025 and ₹31,476 crore for March 2026.

Key monitoring areas include the company's ability to return to profitability after the reported loss in Q1 FY27, the trend in operating profit margins, and the management of borrowings in conjunction with reserve growth. The significant increase in Capital Work-in-Progress (CWIP) from ₹20,204 crore in March 2024 to a projected ₹32,911 crore by March 2026 indicates ongoing capital expenditure.

- For Q1 FY27, Bharat Petroleum reported a revenue of ₹1,59,527.05 crore, but incurred a net loss of ₹1,872.70 crore and an operating profit margin of -2.7%.
- In contrast, Q3 FY26 reported a revenue of ₹1,36,653.12 crore and a net profit of ₹7,188.40 crore, with an OPM of 9.0%.
- Total assets are projected to reach ₹2,48,616 crore by March 2026, with total liabilities at the same level, indicating leverage.
- Borrowings were ₹54,599 crore in March 2024, projected to be ₹61,101 crore in March 2025 and ₹54,424 crore in March 2026.
- Reserves are projected to grow from ₹73,499 crore in March 2024 to ₹95,898 crore by March 2026.
- Capital Work-in-Progress (CWIP) is expected to increase from ₹20,204 crore in March 2024 to ₹32,911 crore by March 2026.

### Bull Case

Bharat Petroleum Corporation Limited (BPCL) has demonstrated growth in its total assets, increasing from ₹136,926 crore in March 2019 to ₹150,860 crore in March 2020. This expansion is accompanied by a rise in fixed assets, which grew from ₹49,315 crore to ₹60,175 crore over the same period, alongside an increase in investments from ₹24,907 crore to ₹27,029 crore. The company also saw an improvement in its operating cash flow metrics, with Cash from Operating Activity increasing to ₹7,881 crore in March 2020 from ₹10,157 crore in March 2019, and CFO/OP rising to 108.0 from 86.0. Furthermore, the company is undertaking significant capital expenditure, with plans for a ₹1.45 lakh crore Ramayapatnam refinery project aimed at enhancing petrochemical production.

- Total assets increased to ₹150,860 crore in March 2020 from ₹136,926 crore in March 2019.
- Fixed assets grew to ₹60,175 crore in March 2020 from ₹49,315 crore in March 2019.
- Investments increased to ₹27,029 crore in March 2020 from ₹24,907 crore in March 2019.
- Cash from Operating Activity was ₹7,881 crore in March 2020, with CFO/OP at 108.0.
- A significant ₹1.45 lakh crore Ramayapatnam refinery project is planned to boost petrochemical production.

- Crude shock to hit oil companies' margins, but refining gains could save Q2 show
- These oil and gas stocks will be impacted after export levy revision on petrol, diesel and ATF
- Breaking News Live: World Bank names Nobel laureate Michael Kremer as next chief economist - The Times of India
- Naidu Says Ramayapatnam BPCL Refinery Will Be an Ultra-Mega Project
- Naidu asks BPCL to expedite Ramayapatnam refinery project

### Bear Case

Bharat Petroleum's financial position shows an increase in borrowings from ₹44,839 lakhs in March 2019 to ₹65,476 lakhs in March 2020. Concurrently, the company's reserves decreased from ₹36,798 lakhs to ₹34,565 lakhs over the same period. Operating cash flow also declined, from ₹10,157 lakhs in March 2019 to ₹7,881 lakhs in March 2020, leading to a negative Free Cash Flow of -₹4,289 lakhs in March 2020, compared to -₹344 lakhs in the prior year. Recent news indicates potential margin pressure on retail fuel marketing due to rising crude oil prices, with expected losses per litre for petrol and diesel. Additionally, the company's shares have seen a decline year-to-date, down 20% as of the date of the news.

- Borrowings increased by ₹20,637 lakhs from ₹44,839 lakhs (Mar 2019) to ₹65,476 lakhs (Mar 2020).
- Reserves decreased by ₹2,233 lakhs from ₹36,798 lakhs (Mar 2019) to ₹34,565 lakhs (Mar 2020).
- Cash from Operating Activity decreased by ₹2,276 lakhs from ₹10,157 lakhs (Mar 2019) to ₹7,881 lakhs (Mar 2020).
- Free Cash Flow was negative at -₹4,289 lakhs for the period ending Mar 2020, a deterioration from -₹344 lakhs in Mar 2019.
- Recent news highlights potential retail fuel marketing margin losses due to crude oil price increases.
- Shares of Bharat Petroleum are down 20% year-to-date as per recent news.

- Crude shock to hit oil companies' margins, but refining gains could save Q2 show
- These oil and gas stocks will be impacted after export levy revision on petrol, diesel and ATF
- Breaking News Live: World Bank names Nobel laureate Michael Kremer as next chief economist - The Times of India
- Naidu Says Ramayapatnam BPCL Refinery Will Be an Ultra-Mega Project
- Naidu asks BPCL to expedite Ramayapatnam refinery project

### FAQs

**What is the company's recent financial performance regarding sales and profit growth?**

Bharat Petroleum Corporation Limited (BPCL) has shown a 5-year compounded sales growth of 15%. However, its sales growth on a trailing twelve months (TTM) basis was 12%. For profits, the company experienced a 5-year compounded profit growth of 16%, but its TTM compounded profit growth was -12%.

**How has BPCL's balance sheet changed between March 2019 and March 2020?**

Between March 2019 and March 2020, BPCL's total assets increased from ₹136,926 crore to ₹150,860 crore. This increase was accompanied by a rise in borrowings from ₹44,839 crore to ₹65,476 crore. Fixed assets grew from ₹49,315 crore to ₹60,175 crore, while reserves decreased from ₹36,798 crore to ₹34,565 crore.

**What are the key technical indicators for BPCL as of September 18, 2026?**

On a daily timeframe, BPCL's technical indicators show a closing price of ₹314.0, with the Supertrend direction being bearish and the price trading below the 20-day and 50-day Simple Moving Averages (SMA). On a weekly timeframe, the Supertrend direction is also bearish, with the price below the 50-day SMA. However, on a monthly timeframe, the Supertrend direction is bullish, with the price above the 20-day Exponential Moving Average (EMA).

**What recent news impacts BPCL's operations and potential investments?**

Recent news indicates that BPCL is involved in a significant project to develop the Ramayapatnam refinery, with an estimated investment of ₹1.45 lakh crore, aimed at producing Euro 6-compliant fuels and enhancing petrochemical production. Separately, news also highlights that retail fuel marketing margins could face losses due to rising crude oil prices, with potential losses of ₹7.4 per litre for petrol and ₹10.3 per litre for diesel in September.

- Crude shock to hit oil companies' margins, but refining gains could save Q2 show
- These oil and gas stocks will be impacted after export levy revision on petrol, diesel and ATF
- Breaking News Live: World Bank names Nobel laureate Michael Kremer as next chief economist - The Times of India
- Naidu Says Ramayapatnam BPCL Refinery Will Be an Ultra-Mega Project
- Naidu asks BPCL to expedite Ramayapatnam refinery project
- Bharat Petroleum Corporation Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- Bharat Petroleum Corporation Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- Bharat Petroleum Coporation Limited has informed the Exchange about Action(s) taken or orders passed (sub-para 20) |SUBJECT: Actions initiated/taken or orders passed-XBRL
- Bharat Petroleum Corporation Limited has informed the Exchange about Action(s) initiated or orders passed |SUBJECT: Action(s) initiated or orders passed
- Bharat Petroleum Corporation Limited has informed the Exchange regarding Change in Auditors of the company. |SUBJECT: Change in Auditors
## Technical analytics

- As of: 2026-09-18
- Daily trend: Weak Uptrend
- Weekly trend: Weak Uptrend
- Pivot point: ₹306.05
- Risk regime: Price Risk Requires Attention

### Support levels
- 305.1
- 302.51250000000005
- 291.65

### Resistance levels
- 320.1
- 320.7102416992187
- 328.803125

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +2.28% |
| return_10 | -1.89% |
| return_1m | +1.19% |
| return_1y | -3.59% |
| return_20 | +1.72% |
| return_3m | -0.73% |
| return_5 | +3.63% |
| return_6m | +3.39% |
| return_since_start | +6.33% |
| return_ytd | -17.69% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -30.13% |
| annualized_volatility | +28.48% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Revenue Surges but Profit Turns Deeply Negative

Bharat Petroleum reported a sharp increase in revenue for the first quarter of FY2026‑27, growing 23% compared with the same quarter last year. However, the company swung from a significant profit a year earlier to a substantial loss in the current quarter. The loss was partially offset by a deferred tax credit, but the underlying profitability before exceptional items and tax deteriorated markedly. The quarter’s financial story is the dramatic divergence between top‑line growth and bottom‑line performance.

## Revenue Growth and Profitability Collapse

Revenue from operations rose to ₹1,59,527.05 crore in Q1 FY2026‑27, up from ₹1,29,614.69 crore in Q1 FY2025‑26 (a 23% increase) and 18% higher than the preceding quarter’s ₹1,34,947.90 crore. This was the highest quarterly revenue among the five quarters presented.

Despite the revenue surge, profit before exceptional items and tax turned deeply negative. The company recorded a loss of ₹5,501.33 crore in Q1 FY2026‑27, compared with a profit of ₹7,780.97 crore in the same quarter last year and a profit of ₹8,291.32 crore in the previous quarter. This represents a swing of ₹13,282.30 crore year‑on‑year and ₹13,792.65 crore quarter‑on‑quarter. The divergence between rising revenue and falling profitability is the defining feature of the quarter.

## Profitability Reconciliation and Exceptional Items

The difference between profit before exceptional items and tax and reported profit before tax shows the impact of exceptional items. In Q1 FY2026‑27, profit before tax was a loss of ₹3,616.77 crore, which is less severe than the loss before exceptional items of ₹5,501.33 crore. The gap of ₹1,884.56 crore indicates a net exceptional gain during the quarter. This is a reversal from the prior four quarters, where exceptional items were net losses of smaller amounts (ranging from ₹10.79 crore to ₹166.66 crore). The exceptional gain reduced the pre‑tax loss, but the underlying business performance before these items was worse.

The net loss for the period was ₹1,872.70 crore, compared with a profit of ₹6,839.02 crore in Q1 FY2025‑26. Tax expense was a credit of ₹1,342.94 crore, which reduced the net loss from the pre‑tax loss of ₹3,616.77 crore.

## Tax Expense and Deferred Tax Credit

Total tax expense in Q1 FY2026‑27 was a negative ₹1,342.94 crore, entirely composed of a deferred tax credit. No current tax was recorded in the quarter, compared with ₹1,999.22 crore in the year‑ago quarter and ₹2,453.22 crore in the previous quarter. The deferred tax credit of ₹1,342.94 crore compared with a credit of ₹33.45 crore in Q1 FY2025‑26 and a credit of ₹239.99 crore in Q4 FY2025‑26.

## Debt Equity Ratio Remains Minimal

The debt‑equity ratio edged up to 0.0056 from 0.0043 in the previous quarter, but remains extremely low, indicating negligible reliance on debt financing relative to equity. The company’s balance‑sheet leverage is not a contributing factor to the quarter’s profit swing.

## Key Takeaway

Bharat Petroleum’s first quarter was defined by a stark contrast: revenue grew strongly to its highest level in five quarters, yet the company recorded a deep loss before exceptional items and tax. The loss was cushioned by an exceptional gain and a deferred tax credit, but the underlying profitability deteriorated sharply. The quarter marks a significant reversal from the consistent profits seen in the prior four quarters.

### Ratios

## Official filings

- 2026-09-18 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_18092026093556_stexintimationanalystcall18926s.pdf)
- 2026-09-16 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_16092026143521_stexintimationanalystcall16926s.pdf)
- 2026-09-11 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/AIATOP_199_WebXMLFile_20260911_205006622.xml)
- 2026-09-11 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_11092026205620_Stexintimationonpenalty11926finals.pdf)
- 2026-09-10 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_10092026174247_stexintimationauditorappointments.pdf)
- 2026-09-08 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_199_WebXMLFile_20260908_202410342.xml)
- 2026-09-08 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_08092026202832_stexintimationanalystcall8926s.pdf)
- 2026-09-06 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_199_WebXMLFile_20260906_120800605.xml)
- 2026-09-03 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_03092026145236_Seanalystintimationanalystmeet392026signed.pdf)
- 2026-09-01 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_01092026174329_DFtenureextensionsigned.pdf)
- 2026-08-28 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_28082026163309_stexintimationAGMresults28826s.pdf)
- 2026-08-28 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_28082026163504_stexchangeintmationReg3028826s.pdf)
- 2026-08-27 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_27082026165344_stexintimationAGMproceeding27826s.pdf)
- 2026-08-27 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_27082026165000_stexcmdspeech27826s.pdf)
- 2026-08-26 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL_26082026115439_Stexintimationoffineslevied26826s.pdf)
- 2026-08-18 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_18082026160940_stexBMoutcome180826rs.pdf)
- 2026-08-13 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_199_WebXMLFile_20260813_182914942.xml)
- 2026-08-07 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_07082026154808_1stexintimationanalystcall7826s.pdf)
- 2026-08-07 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_199_WebXMLFile_20260807_154257158.xml)
- 2026-08-05 — Generic Announcement: Bharat Petroleum Corporation Limited will hold its 73rd Annual General Meeting on August 27, 2026, at 10:30 AM IST via Video Conferencing. The company has also opened a special window until February 4, 2027, for the transfer and dematerialization of physical securities sold or purchased before April 1, 2019. — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_05082026145316_1stexch2ndadvt5826s.pdf)
- 2026-08-04 — Official Filing: Bharat Petroleum Corporation Limited has redeemed Commercial Paper with ISIN INE029A14BW6, amounting to Rs. 3,500 crore, on August 4, 2026, due to maturity. The redemption was for the full amount, with 70,000 Commercial Papers redeemed.
- 2026-08-03 — Official Filing: Bharat Petroleum Corporation Limited will hold its Annual General Meeting on August 27, 2026, via Video Conference. The agenda includes adopting financial statements for the fiscal year ending March 31, 2026, confirming interim dividends, re-appointing Shri Vetsa Ramakrishna Gupta as a Director, appointing Shri Vedveer Arya and Shri Pushp Kumar Nayar as Directors, fixing remuneration for Statutory Auditors for FY 2026-27, ratifying remuneration for Cost Auditors M/s. Dhananjay V. Joshi & Associates and M/s. Rohit & Associates for FY 2026-27 with fees of Rs. 4,00,000 and Rs. 1,50,000 respectively, and amending the Memorandum of Association to include electronic and virtual payment systems services.
- 2026-08-03 — Generic Announcement: Bharat Petroleum Corporation Limited (BPCL) has submitted its Business Responsibility and Sustainability Report for the financial year 2025-26. The report details the company's performance and commitments across environmental, social, and governance (ESG) principles. Key highlights include a reduction in Scope 1 and Scope 2 GHG emissions to 10.47 MMTCO2e, a record ethanol blending rate of 19.87% in petrol, and an investment of ₹267.17 crore in CSR initiatives impacting over 25 lakh beneficiaries. — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL22_03082026194130_stexintimatoinbrsrintimation3826s.pdf)
- 2026-08-03 — Generic Announcement: Bharat Petroleum Corporation Limited will hold its 73rd Annual General Meeting on August 27, 2026, via video conference. The meeting agenda includes adopting financial statements for FY 2025-26, confirming interim dividends, appointing directors, and ratifying cost auditor remuneration. The company is also seeking approval to expand its business scope to include electronic and virtual payment systems. — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL22_03082026193714_stexintimationAGMnotice3826s.pdf)
- 2026-08-01 — Generic Announcement: Bharat Petroleum Corporation Limited informed BSE Ltd. and NSE Ltd. on August 1, 2026, about changes in senior management. Shri U. S. N. Bhat and Shri Kani Amudhan N superannuated on July 31, 2026. Shri Amit Kumar was appointed Chief Procurement Officer (CPO Mktg.) effective August 1, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_01082026101248_1Changeinseniormgmt1082026s.pdf)

## News and market events

- 2026-09-17 — Economic Times: **Crude shock to hit oil companies' margins, but refining gains could save Q2 show** — Oil breached $100 a barrel this month with Brent crude at around $107 as US-Iran clashes stoked supply fears. Retail fuel marketing margins are expected to turn into a loss of ₹7.4 per litre for petrol and ₹10.3 per litre for diesel in September. However, it is unlikely to erase improvement seen during the first two months of the quarter. — [Source](https://economictimes.indiatimes.com/industry/energy/oil-gas/crude-shock-to-hit-oil-companies-margins-but-refining-gains-could-save-q2-show/articleshow/134319868.cms)
- 2026-09-17 — CNBC-TV18: **These oil and gas stocks will be impacted after export levy revision on petrol, diesel and ATF** — Shares of MRPL are up 8% so far this year, while those of Reliance Industries are down 21%. Shares of the state-run refiners, HPCL, BPCL and IOC, are down 30%, 20% and 18% respectively for the year so far. — [Source](https://www.cnbctv18.com/market/oil-and-gas-stocks-petrol-diesel-atf-saed-cut-ril-mrpl-hpcl-bpcl-ioc-share-price-move-19992474.htm)
- 2026-09-16 — Times of India: **Breaking News Live: World Bank names Nobel laureate Michael Kremer as next chief economist - The Times of India** — Stay here for real-time updates on breaking news from India and across the world that you can't miss: — [Source](https://timesofindia.indiatimes.com/india/latest-india-world-news-live-updates-today-breaking-news-september-17-2026/liveblog/134296065.cms)
- 2026-09-16 — DECCANCHRONICLE.COM: **Naidu Says Ramayapatnam BPCL Refinery Will Be an Ultra-Mega Project** — Involving an investment of about Rs 1.45 lakh crore, the project is expected to produce Euro 6-compliant fuels. — [Source](https://www.deccanchronicle.com/southern-states/andhra-pradesh/naidu-says-ramayapatnam-bpcl-refinery-will-be-an-ultra-mega-project-1988038)
- 2026-09-16 — The Hindu: **Naidu asks BPCL to expedite Ramayapatnam refinery project** — Naidu urges BPCL to fast-track the ₹1.45 lakh crore Ramayapatnam refinery project, enhancing petrochemical production in Andhra Pradesh. — [Source](https://www.thehindu.com/news/national/andhra-pradesh/naidu-asks-bpcl-to-expedite-ramayapatnam-refinery-project/article71473565.ece)
- 2026-09-16 — Mint: **Petrol dealers seek exemption from new charges on UPI transactions | Mint** — Fuel retailers say thin, regulated margins leave little room to absorb the ₹5 charge on UPI transactions above ₹2,000. — [Source](https://www.livemint.com/industry/advertising/petrol-dealers-seek-exemption-from-new-charges-on-upi-transactions-11789564422202.html)
- 2026-09-16 — MONEYCONTROL: **Nomura sees sharp Q2 recovery for OMCs despite $100 oil; prefers IOCL, BPCL** — Nomura, IOCL, BPCL, HPCL, Hindustan Oil share price, BPCL stock today, Oil prices, Us-Iran war, brent crude — [Source](https://www.moneycontrol.com/news/business/stocks/nomura-sees-sharp-q2-recovery-for-omcs-despite-100-oil-prefers-iocl-bpcl-14030946.html)
- 2026-09-16 — Mint: **Petrol and diesel prices today, Sept 16: How much does fuel cost in Delhi, Mumbai, Bengaluru? Check here | Today News** — In Mumbai, petrol price stands at ₹111.21 per litre today. No change has been recorded in petrol prices compared to yesterday. — [Source](https://www.livemint.com/news/india/petrol-and-diesel-prices-today-sept-16-how-much-does-fuel-cost-in-delhi-mumbai-bengaluru-check-here-11789524764564.html)
- 2026-09-15 — The Hindu: **High refill, deposit costs keep consumers in Karnataka away from 10 kg LPG option** — Since the West Asia war began, State-owned oil companies have been encouraging consumers to switch to 10 kg LPG cylinders. — [Source](https://www.thehindu.com/news/national/karnataka/high-refill-deposit-costs-keep-consumers-in-karnataka-away-from-10-kg-lpg-option/article71400677.ece)
- 2026-09-15 — MONEYCONTROL: **Crude above $100 could widen OMC losses if retail fuel prices remain unchanged: Analysts** — oil prices, diesel losses, marketing margins, OMCs, economy, petrol, LPG — [Source](https://www.moneycontrol.com/news/business/economy/crude-above-100-could-widen-omc-losses-if-retail-fuel-prices-remain-unchanged-analysts-14030455.html)
- 2026-09-15 — Mint: **Tata, Adani, Reliance triple their EV charging points in 3 years | Mint** — The number of EV charging points installed by these three groups has grown 21% from FY25, when the cumulative was 15,651 and by 67% from FY24, when their total was 11,356. From the total of 5,438 in FY23, the network has grown 280%. — [Source](https://www.livemint.com/industry/ev-charging-stations-infrastructure-in-india-tata-power-adani-power-reliance-11789372330654.html)
- 2026-09-14 — Mint: **PSU dividend kings: ONGC, BPCL, HPCL, Coal India, among top 8 PSU stocks with highest dividend yield | Crown goes to?** — In FY26, PSU stocks like Coal India and ONGC deliver notable dividend yields. MSTC, REC, and ONGC feature yields at 5.4%, 5.9%, and 5.7%. Check full list of top PSU stocks with highest dividend yield — [Source](https://www.livemint.com/market/stock-market-news/psu-dividend-kings-ongc-bpcl-hpcl-coal-india-among-top-8-psu-stocks-with-highest-dividend-yield-crown-goes-to-11789362315354.html)
- 2026-09-12 — REDIFF.COM: **OMCs Lose Rs 5 Per Litre On Petrol, Rs 23 On Diesel** — 'If crude remains above $100 per barrel, with restricted retail-price increases, OMCs could face negative petrol and diesel marketing margins, higher LPG under-recoveries, higher crude-landing, freight and insurance costs, working capital and debt accumulation and inventory losses if crude subsequently corrects sharply.' — [Source](https://www.rediff.com/business/report/omcs-lose-rs-5-per-litre-on-petrol-rs-23-on-diesel/20260912.htm)
- 2026-09-11 — NEWS.WEBINDIA123.COM: **India, China energy needs will shape future of global oil demand, says Hardeep Puri** — India and China are among the worlds largest energy consumers and their energy needs will shape the future of global oil demand, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said on Friday. — [Source](https://news.webindia123.com/news/articles/business/20260911/4497458.html)
- 2026-09-11 — The Hindu: **Energy Edits Newsletter for September 11, 2026** — Explore the latest energy trends, geopolitical challenges, and innovations in the Energy Edits Newsletter for November 11, 2026. — [Source](https://www.thehindubusinessline.com/newsletter/bl-energy/energy-edits-newsletter-for-september-11-2026/article71455556.ece)
- 2026-09-10 — BUSINESS: **Bharat Petroleum Corporation Ltd eases for fifth straight session** — Bharat Petroleum Corporation Ltd is quoting at Rs 303.1, down 0.15% on the day as on 13:19 IST on the NSE. The stock tumbled 5.28% in last one year as compared to a 6.28% slide in NIFTY and a 9.82% spurt in the Nifty Energy index. — [Source](https://www.business-standard.com/markets/capital-market-news/bharat-petroleum-corporation-ltd-eases-for-fifth-straight-session-126091000616_1.html)
- 2026-09-10 — BUSINESS: **Crude oil at $100, but why are OMCs not on a slippery slope? Decoded** — Oil at $100: OMC stocks have already been punished significantly, and therefore investors are not reacting in panic after such a major fall, believe analysts. — [Source](https://www.business-standard.com/markets/news/crude-oil-prices-at-100-but-why-are-omc-stocks-not-on-a-slippery-slope-decoded-126091000429_1.html)
- 2026-09-10 — BUSINESSTODAY: **Brent crude crosses $100 per barrel: Will petrol, diesel prices increase again?** — Brent crude, Brent crude crosses $100, Brent crude crosses 100 per barrel, Brent crude price increase, will diesel price increase, will petrol price increase — [Source](https://www.businesstoday.in/india/story/brent-crude-crosses-usd-100-per-barrel-will-petrol-diesel-prices-increase-again-554476-2026-09-10)
- 2026-09-10 — BUSINESSTODAY: **CPCL, MRPL, HPCL, BPCL, IOC shares: Brent nears $102; impact on oil stocks** — MRPL share price, CPCL share price, oil prices, oil price today, BPCL share price, IOC share price, HPCL share price — [Source](https://www.businesstoday.in/markets/stocks/story/cpcl-mrpl-hpcl-bpcl-ioc-shares-brent-nears-102-impact-on-oil-stocks-554465-2026-09-10)
- 2026-09-09 — Economic Times: **IOC, BPCL & HPCL likely to post Rs 14,470 crore profit in Q2** — IndianOil, BPCL, and HPCL are set to achieve remarkable profits during the July-September quarter, showcasing a stark recovery from their previous quarter's losses. This impressive financial rebound is attributed to robust refining and marketing margins. Collectively, these companies anticipate a combined profit of ₹14,470 crore, provided that current market conditions remain stable until the end of September. — [Source](https://economictimes.indiatimes.com/industry/energy/oil-gas/ioc-bpcl-hpcl-likely-to-post-rs-14470-crore-profit-in-q2/articleshow/133980001.cms)
- 2026-09-09 — The Hindu: **BPCL-led energy fund to back deep-tech start-ups; targets to cut industry’s refining bill worth ₹1 lakh crore** — BPCL-led energy fund aims to support deep-tech start-ups, targeting a ₹1 lakh crore reduction in refining costs. — [Source](https://www.thehindu.com/news/national/karnataka/bpcl-led-energy-fund-to-back-deep-tech-start-ups-targets-to-cut-industrys-refining-bill-worth-1-lakh-crore/article71444081.ece)
- 2026-09-09 — BUSINESSTODAY: **BPCL, IOC, HPCL shares unfazed as Brent crude hits $100 a barrel for first time since July** — Brent crude, $100 oil, Oil India, ONGC, BPCL, IOC, Reliance Industries, Nifty Oil & Gas, crude oil prices, US-Iran tensions — [Source](https://www.businesstoday.in/markets/stocks/story/bpcl-ioc-hpcl-shares-unfazed-as-brent-crude-hits-100-a-barrel-for-first-time-since-july-554239-2026-09-09)
- 2026-09-09 — BUSINESS: **Chennai Petroleum, MRPL, Oil India rise up to 5% as crude price nears $100** — Analyst said that the current rally in upstream oil and refining companies is primarily driven by elevated crude oil prices. — [Source](https://www.business-standard.com/markets/news/chennai-petroleum-mrpl-oil-india-rise-up-to-5-as-crude-price-nears-100-126090900372_1.html)
- 2026-09-08 — Economic Times: **State oil companies lose up to 35% bulk diesel sales** — State oil companies are grappling with substantial bulk diesel sales losses as numerous large customers pivot to retail pumps to evade soaring prices. This behavioral shift echoes past trends observed during the US-Iran conflict. The surge in diesel rates is fueled by global supply shortages and elevated crude prices, prompting smaller contractors and businesses to adapt by purchasing through retail channels to mitigate fuel expenditures. — [Source](https://economictimes.indiatimes.com/industry/energy/oil-gas/state-oil-companies-lose-up-to-35-bulk-diesel-sales/articleshow/133938592.cms)
- 2026-09-08 — FREEPRESSJOURNAL.IN: **Crude Oil Surge Puts India’s Import Bill Under Pressure, West Asia Supply Risks Fuel Fresh Concerns** — India faces a higher oil import bill and inflation risks as Brent nears $100 and the Indian crude basket crosses $100 amid worsening West Asia supply disruptions. — [Source](https://www.freepressjournal.in/business/crude-oil-surge-puts-indias-import-bill-under-pressure-west-asia-supply-risks-fuel-fresh-concerns)

## Business profile

**Strategic vision:** Integrated energy company refining and marketing petroleum products.

### Business segments
- **Refining and Marketing:** BPCL's core business involves the refining of crude oil and the marketing of a wide range of petroleum products, including petrol, diesel, aviation fuel, LPG, and lubricants.
- **Upstream Exploration and Production:** Through its subsidiary Bharat PetroResources Limited (BPRL), BPCL engages in oil and gas exploration, appraisal, development, and production investments.
- **Natural Gas and Energy Services:** BPCL provides comprehensive business solutions encompassing commercial fuels, industrial gases, specialized lubricants, aviation fuels, and tailored energy services, and has expanded its portfolio to include natural gas.

### Competitive strengths
- Integrated operations across the energy value chain.
- Extensive refining and marketing infrastructure.
- Strategic investments in upstream exploration and production.

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## Freshness and sources

- Data as of: 2026-09-18
- Source: Faxioms public stock analysis API

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