# Bharat Petroleum Corporation (BPCL) — Stock analysis

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

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹319.9
- Change: +0.88%
- As of: 2026-11-06
- 1D return: +0.88%
- 5D return: +12.29%
- 1M return: +11.76%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

BPCL (₹319.90) exhibits a developing daily uptrend, supported by an active weekly Morning Star pattern and recent extreme volume-backed price moves. On the daily chart, price sits above all key moving averages and the Supertrend, with ADX at 24.9 indicating building momentum. However, this daily strength contrasts with a weak weekly trend (ADX 17.8, bearish Supertrend) and a monthly setup where price remains below the 20-period SMA despite being above the EMA. The stock is trading near the upper end of its 20-day (+95.5%) and 50-day (+87.3%) ranges, suggesting limited immediate upside room before resistance at ₹320.10–₹321.97. Risk remains elevated with annualized volatility at 28.4% and a current drawdown of -17.6%. A confirmed break above ₹321.97 with sustained volume would align shorter-term signals with the longer-term structure, while a drop below the pivot support at ₹317.13 would invalidate the daily bullish posture.

- Trend Divergence: Daily indicators are bullish (price above all MAs/Supertrend), but weekly trend is weak (ADX 17.8) and monthly price is below the 20-SMA.
- Momentum & Participation: Recent +4.1% move on 3.54x volume ratio signals strong participation; active weekly Morning Star supports reversal thesis.
- Key Levels: Immediate resistance at ₹320.10 and ₹321.97; pivot support at ₹317.13, with secondary low at ₹315.27.
- Risk Profile: High volatility (28.4% annualized) and significant current drawdown (-17.6%) require careful position sizing.

- Morning Star
- Bullish Engulfing Reversal
- Doji
- Inside Bar
- Harami

### News Context

Bharat Petroleum Corporation Limited (BPCL) adjusted its crude procurement strategy in early November 2026, purchasing 1 million barrels of US West Texas Intermediate (WTI) crude for delivery between late December and early January. This acquisition was made at a premium of approximately $18 per barrel over the Dated Brent benchmark, reflecting a strategic shift away from Russian supplies as higher freight costs eroded their price advantage relative to Middle Eastern grades. Concurrently, BPCL’s shares benefited from broader market tailwinds; on November 3, 2026, downstream stocks rallied up to 4% as Brent crude dipped below $105 per barrel for two consecutive sessions, driven by geopolitical de-escalation hopes. Analyst Somil Mehta of Mirae Asset ShareKhan recommended buying BPCL on November 3, citing technical breakouts and positive momentum. The stock also participated in a wider seven-session rally where Indian equities gained approximately 9%, supported by falling energy costs and renewed foreign institutional investor buying.

- Procurement Shift: BPCL bought 1 million barrels of US WTI crude for late Dec/early Jan delivery at ~$18/bbl over Dated Brent, reducing reliance on Russian oil due to high freight costs.
- Price Sensitivity: Shares rose up to 4% on Nov 3, 2026, as Brent crude fell below $105/bbl, benefiting downstream refiners while upstream producers declined.
- Analyst View: Mirae Asset ShareKhan recommended buying BPCL on Nov 3, 2026, based on technical indicators including breakouts and positive momentum.
- Market Context: BPCL contributed to a sector-wide rally during a seven-session period where Sensex and Nifty gained ~9%, aided by lower energy costs and FII inflows.

- [US midterm results impact: ₹4 lk cr added! Sensex soars 2700 pts, Nifty up 3% in 2 days - Strategy and stocks to buy](https://www.livemint.com/market/stock-market-news/us-midterm-results-impact-rs-4-lk-cr-added-sensex-soars-2700-pts-nifty-up-3-in-2-days-strategy-and-stocks-to-buy-11793941921903.html)
- [Bharat Petroleum Buys 1 Million Barrels Of US Crude Oil As High Freight Costs Make Russian Oil Less Attractive](https://www.freepressjournal.in/business/bharat-petroleum-buys-1-million-barrels-of-us-crude-oil-as-high-freight-costs-make-russian-oil-less-attractive)
- [IndiGo, Indian Oil and other crude-sensitive stocks rally up to 4% as oil dips below $105/bbl. Where are prices headed?](https://economictimes.indiatimes.com/markets/stocks/news/indigo-indian-oil-and-other-crude-sensitive-stocks-rally-up-to-4-as-oil-dips-below-105/bbl-where-are-prices-headed/articleshow/135482481.cms)
- [Crude-sensitive stocks gain as oil stays below $105; HPCL, IndiGo rise](https://www.business-standard.com/markets/news/crude-sensitive-stocks-gain-as-oil-stays-below-105-hpcl-indigo-rise-126110300400_1.html)
- [Top stocks to buy today: Stock market recommendations for November 3, 2026 - check list](https://timesofindia.indiatimes.com/business/india-business/top-stock-recommendations-for-november-03-2026-adani-green-dlf-hindalco-bpcl-stocks-to-buy-today/articleshow/135480526.cms)

### What Changed

On November 6, 2026, Bharat Petroleum Corporation Limited (BPCL) reported a price increase to ₹319.90, up from ₹304.70 in the prior snapshot. This move coincides with a broader market rally driven by US midterm election results and falling crude oil prices, which boosted risk appetite for Indian equities. Additionally, BPCL announced that its Registrar and Share Transfer Agent, KFin Technologies Limited, will shift its corporate office address effective December 1, 2026, requiring shareholders to direct future correspondence to the new location.

- BPCL share price rose to ₹319.90 on November 6, 2026, compared to ₹304.70 in the previous snapshot.
- The stock gained amid a wider market rally where Sensex and Nifty rose approximately 9% over two sessions following US midterm results and lower energy costs.
- KFin Technologies Limited will change its corporate office address for BPCL correspondence effective December 1, 2026; registered office remains unchanged.

- [US midterm results impact: ₹4 lk cr added! Sensex soars 2700 pts, Nifty up 3% in 2 days - Strategy and stocks to buy](https://www.livemint.com/market/stock-market-news/us-midterm-results-impact-rs-4-lk-cr-added-sensex-soars-2700-pts-nifty-up-3-in-2-days-strategy-and-stocks-to-buy-11793941921903.html)
- [Bharat Petroleum Corporation Limited has informed the Exchange regarding change in Corporate Office Address of Registrar and Share Transfer Agent |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/BPCL26_06112026130139_stexintimationrtaaddresschanges.pdf)

### Fundamentals

Bharat Petroleum (BPCL) demonstrated a sharp operational recovery in Q2 FY2026-27, turning around the losses seen in Q1. Net profit surged to ₹4,863 crore from a loss of ₹1,873 crore in the previous quarter, driven by a sequential drop in expenses to ₹1,51,933 crore despite stable income at ₹1,58,167 crore. This resulted in a Basic EPS improvement from -₹4.38 to ₹11.38 per share.

On an annual basis, BPCL’s financial health has strengthened significantly. Full-year net profit for Mar 2026 more than doubled to ₹25,843 crore from ₹13,337 crore in Mar 2025, while operating profit rose to ₹41,202 crore. Sales growth accelerated, with TTM sales reaching ₹538,088 crore. Earnings quality is robust, evidenced by Cash Flow from Operations (CFO) of ₹50,769 crore in FY2026, which converted at 143% of operating profit, up from 109% in FY2025. The company also improved its balance sheet efficiency, reducing its Cash Conversion Cycle to 14 days and lowering total borrowings to ₹63,075 crore as of Sep 2026, aided by a reduction in non-current borrowings.

However, investors should note that TTM compounded profit growth remains negative at -35%, indicating that recent gains are offsetting prior periods. Additionally, inventory days increased to 51 days in Mar 2026, suggesting slower stock turnover despite better working capital management overall.

- Q2 FY2026-27 Net Profit rebounded to ₹4,863 crore from a Q1 loss of ₹1,873 crore, with Basic EPS improving to ₹11.38.
- FY2026 CFO reached ₹50,769 crore (143% conversion of operating profit), signaling strong earnings quality compared to ₹23,678 crore in FY2025.
- Total borrowings declined to ₹63,075 crore as of Sep 2026, with non-current borrowings falling to ₹15,984 crore from ₹25,679 crore a year prior.
- TTM profit growth remains negative (-35%), contrasting with strong YoY full-year profit doubling to ₹25,843 crore.

### Bull Case

BPCL presents a conditional upside case anchored by its position as a downstream refiner benefiting from lower input costs. Evidence indicates that Brent crude dipping below $105 per barrel has triggered positive price momentum for crude-sensitive stocks, with BPCL shares rallying up to 4% on consecutive sessions. This dynamic highlights the sector's sensitivity to oil prices, where reduced feedstock costs typically support refining margins. Furthermore, technical indicators on the daily and monthly timeframes show a bullish Supertrend direction, supported by a strong Plus DI (33.57) relative to Minus DI (17.77) on the daily chart, suggesting short-term buying pressure. A research recommendation from Mirae Asset ShareKhan on November 3, 2026, also cites technical breakouts and positive momentum as drivers for accumulation. However, this constructive view is tempered by a bearish weekly trend, a year-to-date return of -16.1%, and a current drawdown of -17.6%, indicating that while near-term sentiment may be improving due to falling oil prices, the broader medium-term trend remains under pressure.

- Downstream margin potential: BPCL rallies up to 4% as Brent crude falls below $105/bbl, reflecting typical market dynamics where lower input costs benefit refiners.
- Short-term technical strength: Daily and monthly Supertrends are bullish, with daily Plus DI (33.57) significantly outpacing Minus DI (17.77), signaling recent buying interest.
- Analyst sentiment shift: Mirae Asset ShareKhan recommended buying BPCL on November 3, 2026, citing technical breakouts and positive momentum.
- Contrasting medium-term weakness: The weekly Supertrend remains bearish, and the stock faces a year-to-date return of -16.1% with a current drawdown of -17.6%.

- [US midterm results impact: ₹4 lk cr added! Sensex soars 2700 pts, Nifty up 3% in 2 days - Strategy and stocks to buy](https://www.livemint.com/market/stock-market-news/us-midterm-results-impact-rs-4-lk-cr-added-sensex-soars-2700-pts-nifty-up-3-in-2-days-strategy-and-stocks-to-buy-11793941921903.html)
- [Bharat Petroleum Buys 1 Million Barrels Of US Crude Oil As High Freight Costs Make Russian Oil Less Attractive](https://www.freepressjournal.in/business/bharat-petroleum-buys-1-million-barrels-of-us-crude-oil-as-high-freight-costs-make-russian-oil-less-attractive)
- [IndiGo, Indian Oil and other crude-sensitive stocks rally up to 4% as oil dips below $105/bbl. Where are prices headed?](https://economictimes.indiatimes.com/markets/stocks/news/indigo-indian-oil-and-other-crude-sensitive-stocks-rally-up-to-4-as-oil-dips-below-105/bbl-where-are-prices-headed/articleshow/135482481.cms)
- [Crude-sensitive stocks gain as oil stays below $105; HPCL, IndiGo rise](https://www.business-standard.com/markets/news/crude-sensitive-stocks-gain-as-oil-stays-below-105-hpcl-indigo-rise-126110300400_1.html)
- [Top stocks to buy today: Stock market recommendations for November 3, 2026 - check list](https://timesofindia.indiatimes.com/business/india-business/top-stock-recommendations-for-november-03-2026-adani-green-dlf-hindalco-bpcl-stocks-to-buy-today/articleshow/135480526.cms)
- [Bharat Petroleum Corporation Limited has informed the Exchange regarding change in Corporate Office Address of Registrar and Share Transfer Agent |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/BPCL26_06112026130139_stexintimationrtaaddresschanges.pdf)
- [Bharat Petroleum Corporation Limited has informed the Exchange regarding Change in Director(s) of the company. |SUBJECT: Change in Director(s)](https://nsearchives.nseindia.com/corporate/BPCL26_04112026142546_Changeindirector4112026signed.pdf)
- [Bharat Petroleum Corporation Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_199_WebXMLFile_20261104_143348556.xml)
- [Bharat Petroleum Corporation Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/BPCL26_30102026140517_stextranscript301026s.pdf)
- [Bharat Petroleum Corporation Limited has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_199_WebXMLFile_20261030_140413386.xml)

### Bear Case

BPCL faces significant downside risk as the stock trades near multi-year lows, with a year-to-date return of -16.1% and a one-year return of -13.1%. The technical setup is deteriorating; while the daily trend remains bullish, the weekly trend has turned bearish with a Supertrend signal indicating downward pressure. The stock is currently in a deep drawdown of -17.6%, approaching its maximum historical drawdown of -30.1%, suggesting limited immediate support above current levels. Although Brent crude prices dipping below $105 per barrel have provided temporary relief to downstream margins, this benefit is offset by rising procurement costs. BPCL paid a premium of approximately $18 per barrel over Dated Brent for US West Texas Intermediate crude, highlighting supply chain inefficiencies that may compress margins despite lower global oil benchmarks.

- The stock is down -16.1% year-to-date and -13.1% over the past year, trading within a severe -17.6% current drawdown that approaches its all-time high of -30.1%.
- Weekly technical indicators have shifted to a bearish regime (Supertrend: bearish), contrasting with the daily trend, signaling potential medium-term weakness.
- Procurement costs remain elevated, with BPCL paying a ~$18/barrel premium for US crude, which may erode margin benefits from falling Brent prices below $105/bbl.

- [US midterm results impact: ₹4 lk cr added! Sensex soars 2700 pts, Nifty up 3% in 2 days - Strategy and stocks to buy](https://www.livemint.com/market/stock-market-news/us-midterm-results-impact-rs-4-lk-cr-added-sensex-soars-2700-pts-nifty-up-3-in-2-days-strategy-and-stocks-to-buy-11793941921903.html)
- [Bharat Petroleum Buys 1 Million Barrels Of US Crude Oil As High Freight Costs Make Russian Oil Less Attractive](https://www.freepressjournal.in/business/bharat-petroleum-buys-1-million-barrels-of-us-crude-oil-as-high-freight-costs-make-russian-oil-less-attractive)
- [IndiGo, Indian Oil and other crude-sensitive stocks rally up to 4% as oil dips below $105/bbl. Where are prices headed?](https://economictimes.indiatimes.com/markets/stocks/news/indigo-indian-oil-and-other-crude-sensitive-stocks-rally-up-to-4-as-oil-dips-below-105/bbl-where-are-prices-headed/articleshow/135482481.cms)
- [Crude-sensitive stocks gain as oil stays below $105; HPCL, IndiGo rise](https://www.business-standard.com/markets/news/crude-sensitive-stocks-gain-as-oil-stays-below-105-hpcl-indigo-rise-126110300400_1.html)
- [Top stocks to buy today: Stock market recommendations for November 3, 2026 - check list](https://timesofindia.indiatimes.com/business/india-business/top-stock-recommendations-for-november-03-2026-adani-green-dlf-hindalco-bpcl-stocks-to-buy-today/articleshow/135480526.cms)
- [Bharat Petroleum Corporation Limited has informed the Exchange regarding change in Corporate Office Address of Registrar and Share Transfer Agent |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/BPCL26_06112026130139_stexintimationrtaaddresschanges.pdf)
- [Bharat Petroleum Corporation Limited has informed the Exchange regarding Change in Director(s) of the company. |SUBJECT: Change in Director(s)](https://nsearchives.nseindia.com/corporate/BPCL26_04112026142546_Changeindirector4112026signed.pdf)
- [Bharat Petroleum Corporation Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_199_WebXMLFile_20261104_143348556.xml)
- [Bharat Petroleum Corporation Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/BPCL26_30102026140517_stextranscript301026s.pdf)
- [Bharat Petroleum Corporation Limited has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_199_WebXMLFile_20261030_140413386.xml)

### FAQs

**How has BPCL adjusted its crude oil procurement strategy recently?**

BPCL purchased 1 million barrels of US West Texas Intermediate (WTI) crude for delivery between late December and early January, paying a premium of approximately $18 per barrel over the Dated Brent benchmark. This shift coincides with plans to significantly reduce Russian crude imports in November, as higher transportation costs have weakened the price advantage of Russian supplies relative to more competitive Middle Eastern grades.

**What is the current technical trend and price level for BPCL shares?**

As of 6 November 2026, BPCL closed at ₹319.90, up +0.9% from the previous close of ₹317.10. The daily trend is bullish with the Supertrend direction positive, while the weekly trend remains bearish. Key resistance levels are noted at ₹320.10 (+0.06%) and ₹321.97 (+0.65%), with immediate support at the pivot of ₹317.13 (-0.86%). The stock has gained +13.5% over the past 10 days but remains down -16.1% year-to-date.

**What corporate governance changes occurred in early November 2026?**

On 4 November 2026, BPCL informed exchanges that Shri A.P.M. Mohammed Hanish ceased to be a Director effective 3 November 2026 due to a change in his assignment, following communication from the Government of Kerala. Additionally, on 6 November 2026, the company announced that Registrar and Share Transfer Agent KFin Technologies Limited will shift its corporate office address for correspondence effective 1 December 2026.

- [US midterm results impact: ₹4 lk cr added! Sensex soars 2700 pts, Nifty up 3% in 2 days - Strategy and stocks to buy](https://www.livemint.com/market/stock-market-news/us-midterm-results-impact-rs-4-lk-cr-added-sensex-soars-2700-pts-nifty-up-3-in-2-days-strategy-and-stocks-to-buy-11793941921903.html)
- [Bharat Petroleum Buys 1 Million Barrels Of US Crude Oil As High Freight Costs Make Russian Oil Less Attractive](https://www.freepressjournal.in/business/bharat-petroleum-buys-1-million-barrels-of-us-crude-oil-as-high-freight-costs-make-russian-oil-less-attractive)
- [IndiGo, Indian Oil and other crude-sensitive stocks rally up to 4% as oil dips below $105/bbl. Where are prices headed?](https://economictimes.indiatimes.com/markets/stocks/news/indigo-indian-oil-and-other-crude-sensitive-stocks-rally-up-to-4-as-oil-dips-below-105/bbl-where-are-prices-headed/articleshow/135482481.cms)
- [Crude-sensitive stocks gain as oil stays below $105; HPCL, IndiGo rise](https://www.business-standard.com/markets/news/crude-sensitive-stocks-gain-as-oil-stays-below-105-hpcl-indigo-rise-126110300400_1.html)
- [Top stocks to buy today: Stock market recommendations for November 3, 2026 - check list](https://timesofindia.indiatimes.com/business/india-business/top-stock-recommendations-for-november-03-2026-adani-green-dlf-hindalco-bpcl-stocks-to-buy-today/articleshow/135480526.cms)
- [Bharat Petroleum Corporation Limited has informed the Exchange regarding change in Corporate Office Address of Registrar and Share Transfer Agent |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/BPCL26_06112026130139_stexintimationrtaaddresschanges.pdf)
- [Bharat Petroleum Corporation Limited has informed the Exchange regarding Change in Director(s) of the company. |SUBJECT: Change in Director(s)](https://nsearchives.nseindia.com/corporate/BPCL26_04112026142546_Changeindirector4112026signed.pdf)
- [Bharat Petroleum Corporation Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_199_WebXMLFile_20261104_143348556.xml)
- [Bharat Petroleum Corporation Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/BPCL26_30102026140517_stextranscript301026s.pdf)
- [Bharat Petroleum Corporation Limited has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_199_WebXMLFile_20261030_140413386.xml)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Weak Uptrend
- Weekly trend: Weak Uptrend
- Pivot point: ₹317.13
- Risk regime: Price Risk Requires Attention

### Support levels
- 320.1
- 315.275
- 305.1

### Resistance levels
- 328.803125
- 349.53046875
- 351

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.88% |
| return_10 | +13.46% |
| return_1m | +6.46% |
| return_1y | -13.06% |
| return_20 | +11.76% |
| return_3m | -1.17% |
| return_5 | +12.29% |
| return_6m | +1.86% |
| return_since_start | +8.33% |
| return_ytd | -16.15% |

### 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 | +28.45% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Bharat Petroleum Corporation Limited FY2026-27 Q2: Profit rebounds to ₹4,863 crore

BPCL reported consolidated profit of ₹4,863 crore for FY2026-27 Q2, reversing a loss of ₹1,873 crore in Q1. Revenue from operations dipped 1.1% quarter on quarter to ₹1,57,818 crore, while total expenses fell 8.6%; profit before tax was ₹6,235 crore. Year on year, revenue rose 29.8%, but profit for the period was 21.5% lower than in FY2025-26 Q2.

## Revenue and expenses

Revenue from operations was ₹1,57,818 crore, compared with ₹1,59,527 crore in FY2026-27 Q1. Total expenses declined to ₹1,51,933 crore from ₹1,66,278 crore. Against FY2025-26 Q2, revenue increased from ₹1,21,605 crore while expenses rose from ₹1,14,635 crore.

Cost of materials consumed was ₹74,969 crore and purchases of stock in trade were ₹53,880 crore in Q2. Depreciation was ₹2,097 crore and employee benefit expense was ₹789 crore. Profit before exceptional items and tax was ₹6,235 crore, compared with a loss of ₹5,501 crore in Q1 and profit of ₹7,923 crore a year earlier.

## Tax, finance costs and earnings

Profit before tax was ₹6,235 crore, up from a loss of ₹3,617 crore in Q1. Tax expense was ₹1,697 crore, including current tax of ₹387 crore and deferred tax of ₹1,310 crore; Q1 had a tax credit of ₹1,343 crore. Finance costs increased 58.1% quarter on quarter to ₹991 crore from ₹627 crore.

Profit from continuing operations was ₹4,538 crore. A ₹325 crore share of profit from associates and joint ventures brought total profit for the period to ₹4,863 crore. This compared with a loss of ₹1,873 crore in Q1 and profit of ₹6,191 crore in FY2025-26 Q2. Basic and diluted earnings per share were ₹11.38, versus a loss of ₹4.38 per share in Q1 and earnings of ₹14.49 a year earlier.

## Balance sheet and liquidity

At 30 September 2026, inventories stood at ₹58,636 crore, up from ₹53,304 crore at 31 March 2026 and ₹45,455 crore at 30 September 2025. Trade payables were ₹42,589 crore, broadly unchanged from ₹42,654 crore at 31 March but above ₹29,075 crore a year earlier. Current liabilities increased to ₹1,22,670 crore from ₹1,05,452 crore at 31 March.

Bank balances other than cash and cash equivalents were ₹6,515 crore, down from ₹17,441 crore at 31 March. Cash and cash equivalents were ₹376 crore. Current financial assets declined to ₹22,602 crore from ₹28,045 crore over the same period. Total assets were ₹2,61,519 crore, including property, plant and equipment of ₹93,511 crore and capital work in progress of ₹21,385 crore.

## Equity and comprehensive income

Equity share capital remained at ₹4,273 crore. Other equity increased to ₹97,191 crore at 30 September 2026 from ₹95,898 crore at 31 March. Total comprehensive income was ₹5,154 crore, including other comprehensive income of ₹291 crore, compared with a comprehensive loss of ₹1,971 crore in Q1.

## Key Takeaway

BPCL’s Q2 return to profit followed a sharp quarter-on-quarter decline in total expenses while revenue eased only slightly. The recovery was tempered by higher tax and finance costs, and the balance sheet showed larger inventories and current liabilities alongside lower bank balances.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +52.98%
- FII holding: +16.84%
- DII holding: +21.07%
- Mutual fund holding: +9.56%
- Retail holding: +5.21%
- Promoter pledged: +0.00%

### Major reported shareholders

- PRESIDENT OF INDIA — +52.98%
- LICI ULIP-GROWTH FUND — +7.52%
- NPS TRUST A/C UTI PENSION FUND LIMITED-SCHEME CENT — +2.14%
- ICICI PRUDENTIAL LARGE & MID CAP FUND — +1.71%
- TERESA RAJU NAIDU — +1.52% (Trusts)
- KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK NIFTY NEXT — +1.25%
- SBI ARBITRAGE OPPORTUNITIES FUND — +1.15%
- DSP DYNAMIC ASSET ALLOCATION FUND — +1.09%
- GOVERNMENT OF SINGAPORE — +1.03%

## Official filings

- 2026-11-06 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_06112026130139_stexintimationrtaaddresschanges.pdf)
- 2026-11-04 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_04112026142546_Changeindirector4112026signed.pdf)
- 2026-11-04 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_199_WebXMLFile_20261104_143348556.xml)
- 2026-10-30 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_30102026140517_stextranscript301026s.pdf)
- 2026-10-30 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_199_WebXMLFile_20261030_140413386.xml)
- 2026-10-27 — Credit Rating Update: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_27102026163853_BPCLSEintimationofcreditrating27102026s.pdf)
- 2026-10-26 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/BPCL26_26102026162919_stexintimationncdredemptions.pdf)
- 2026-10-26 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_199_WebXMLFile_20261026_164838205.xml)
- 2026-10-26 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_26102026164648_BPCLSEintimationofaudiorecording26102026s.pdf)
- 2026-10-24 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_199_WebXMLFile_20261024_104326816.xml)
- 2026-10-23 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_23102026191050_stexintimationoutcome231026s.pdf)
- 2026-10-23 — Financial Results Filing: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1744981_23102026071700_WEB.xml)
- 2026-10-23 — Financial Results Filing: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1744982_23102026071811_WEB.xml)
- 2026-10-23 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/BPCL26_23102026192042_stexintimationsecuritycover231026s.pdf)
- 2026-10-23 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_23102026192552_stexintimationWoS23102026APrefinerys.pdf)
- 2026-10-23 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_23102026233001_revisedintimationanalystmeet231026s.pdf)
- 2026-10-23 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_23102026233208_stexinvestorhandouts231026s.pdf)
- 2026-10-20 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_20102026205949_stexconcall201026s.pdf)
- 2026-10-20 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_199_WebXMLFile_20261020_205655114.xml)
- 2026-10-14 — Shareholding Disclosure: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1737821_14102026043852_WEB.xml)
- 2026-10-12 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_199_WebXMLFile_20261012_162002447.xml)
- 2026-10-12 — Board Meeting Notice: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_199_WebXMLFile_20261012_162002447.xml)
- 2026-10-12 — Board Meeting Notice: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_12102026163415_stexintimationprior121026s.pdf)
- 2026-10-09 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BPCL26_09102026164630_CoverNote1signed.pdf)
- 2026-10-07 — Generic Announcement: Bharat Petroleum Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/BPCL26_07102026153135_stexchdebtsecurities71026s.pdf)

## News and market events

- 2026-11-07 — Mint: **Dividend dhamaka: 4 high yield stocks from brokerages' Diwali stock picks for Samvat 2083- Annual return, target price** — Brokerages have highlighted BPCL, Canara Bank, Hero MotoCorp, and HCL Tech as Diwali stock picks for Samvat 2083, citing their annual dividend yields ranging from 2.72% to 3.96%. These selections are presented ahead of the Muhurat trading session on November 8, targeting investors seeking regular income alongside potential capital appreciation. — [Source](https://www.livemint.com/market/stock-market-news/dividend-dhamaka-4-high-yield-stocks-from-brokerages-diwali-stock-picks-for-samvat-2083-annual-return-target-price-11794058869190.html)
- 2026-11-07 — Mint: **Diwali 2026 Muhurat Trading Stocks: HDFC Sec lists BPCL, HCL Tech, Zensar, and more to buy for Nov 8- targets, stop loss** — HDFC Securities has released a technical stock report for Diwali 2026 Muhurat Trading, identifying six picks across the oil and gas, IT, financial services, steel, and credit sectors. The brokerage forecasts potential upside of 19% to 28% for BPCL, HCL Technologies, IIFL Finance, JSW Steel, Satin Creditcare, and Zensar Technologies by the next Diwali, providing specific entry ranges, price targets, and stop-loss levels. HDFC Securities cautioned that these recommendations should not be the sole basis for investment decisions. — [Source](https://www.livemint.com/market/stock-market-news/diwali-2026-muhurat-trading-stocks-hdfc-sec-lists-bpcl-hcl-tech-zensar-and-more-to-buy-for-nov-8-targets-stop-loss-11794042906368.html)
- 2026-11-07 — DECCANCHRONICLE.COM: **OMCs Reject Karnataka's Excess Ethanol Claim, Cite Testing Procedures** — Public sector oil marketing companies have rejected Karnataka's claim that petrol contained up to 31 per cent ethanol, asserting the findings were not based on testing under prescribed statutory procedures. IOCL, BPCL, and HPCL stated their E20 fuel conforms to Indian Standards and cited concerns regarding the sampling methodology used in the October 2026 exercise, noting a lack of OMC participation and retention samples. — [Source](https://www.deccanchronicle.com/southern-states/karnataka/omcs-reject-karnatakas-excess-ethanol-claim-cite-testing-procedures-2002479)
- 2026-11-07 — DECCANCHRONICLE.COM: **Rahul Gandhi Questions Centre Over Alleged Excess Ethanol in Petrol** — Leader of Opposition Rahul Gandhi alleged that laboratory tests conducted by the Karnataka government found ethanol content in petrol samples from seven districts exceeding the prescribed 20 per cent limit, with some samples recording over 30 per cent. While Gandhi claimed this discrepancy harms consumers through reduced mileage and increased maintenance costs, the three major public sector oil marketing companies rejected the findings, citing non-compliance with statutory sampling procedures and asserting their fuel conforms to Bureau of Indian Standards specifications. — [Source](https://www.deccanchronicle.com/nation/current-affairs/rahul-gandhi-questions-centre-over-alleged-excess-ethanol-in-petrol-2002468)
- 2026-11-06 — Mint: **US midterm results impact:  ₹4 lk cr added! Sensex soars 2700 pts, Nifty up 3% in 2 days - Strategy and stocks to buy** — Indian equities extended their rally to seven sessions, with the Sensex and Nifty gaining approximately 9% over the period as improving sentiment from US midterm election results, falling crude oil prices, and renewed foreign institutional investor buying outweighed a global technology sell-off. Analysts attribute the domestic market's resilience to India's limited exposure to the AI trade and strong corporate earnings, while noting that lower energy costs and geopolitical de-escalation hopes have bolstered risk appetite. — [Source](https://www.livemint.com/market/stock-market-news/us-midterm-results-impact-rs-4-lk-cr-added-sensex-soars-2700-pts-nifty-up-3-in-2-days-strategy-and-stocks-to-buy-11793941921903.html)
- 2026-11-04 — FREEPRESSJOURNAL.IN: **Bharat Petroleum Buys 1 Million Barrels Of US Crude Oil As High Freight Costs Make Russian Oil Less Attractive** — Bharat Petroleum Corporation Limited has purchased 1 million barrels of US West Texas Intermediate crude oil for delivery between late December and early January, paying a premium of approximately $18 per barrel over the Dated Brent benchmark. This acquisition coincides with BPCL's plan to significantly reduce Russian crude imports in November, as higher transportation costs have weakened the price advantage of Russian supplies relative to more competitive Middle Eastern grades. The shift reflects a broader trend among Indian refiners adjusting procurement strategies due to easing global tanke — [Source](https://www.freepressjournal.in/business/bharat-petroleum-buys-1-million-barrels-of-us-crude-oil-as-high-freight-costs-make-russian-oil-less-attractive)
- 2026-11-03 — Economic Times: **IndiGo, Indian Oil and other crude-sensitive stocks rally up to 4% as oil dips below $105/bbl. Where are prices headed?** — Shares of downstream crude-sensitive stocks including IndiGo, Indian Oil, BPCL, and HPCL rallied up to 4% as Brent crude dipped below $105 per barrel for a second consecutive session, driven by ongoing US-Iran peace talks. Conversely, upstream producers ONGC and Oil India fell up to 2%, reflecting the typical market dynamic where lower input costs benefit refiners while pressuring exploration companies. Goldman Sachs has revised its oil price forecasts upward, warning that Brent could reach $140 in 2027 if Gulf production remains significantly below average due to geopolitical risks. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/indigo-indian-oil-and-other-crude-sensitive-stocks-rally-up-to-4-as-oil-dips-below-105/bbl-where-are-prices-headed/articleshow/135482481.cms)
- 2026-11-03 — BUSINESS: **Crude-sensitive stocks gain as oil stays below $105; HPCL, IndiGo rise** — Crude-sensitive stocks on Dalal Street rose as Brent crude remained below $105 per barrel, boosting investor sentiment despite a marginal uptick in prices. Oil marketing companies such as HPCL and BPCL gained significantly, while InterGlobe Aviation also saw gains due to the sector's high sensitivity to oil costs for aviation turbine fuel. — [Source](https://www.business-standard.com/markets/news/crude-sensitive-stocks-gain-as-oil-stays-below-105-hpcl-indigo-rise-126110300400_1.html)
- 2026-11-03 — Times of India: **Top stocks to buy today: Stock market recommendations for November 3, 2026 - check list** — Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan, recommends buying Adani Green, DLF, Hindalco, and BPCL on November 3, 2026, citing technical indicators such as breakouts and positive momentum. The analysis suggests accumulation and bullish sentiment for these stocks based on their chart structures and support levels. — [Source](https://timesofindia.indiatimes.com/business/india-business/top-stock-recommendations-for-november-03-2026-adani-green-dlf-hindalco-bpcl-stocks-to-buy-today/articleshow/135480526.cms)
- 2026-11-02 — MONEYCONTROL: **BPCL, HPCL, Asian Paints gain over 2% as Brent crude slips below $110; IndiGo, SpiceJet advance** — Shares of BPCL, HPCL, and Asian Paints gained more than 2%, while IndiGo and SpiceJet advanced, as Brent crude oil prices slipped below the $110 per barrel mark. — [Source](https://www.moneycontrol.com/news/business/stocks/bpcl-hpcl-asian-paints-gain-over-2-as-brent-crude-slips-below-110-indigo-spicejet-advance-14066047.html)
- 2026-11-01 — The Hindu: **Oil PSUs clock ₹30,106 cr Q2 profit, near 39% of last year’s earnings** — Oil PSUs post ₹30,106 cr Q2 net, led by refining margins despite LPG subsidy under-recoveries and unchanged fuel prices. — [Source](https://www.thehindubusinessline.com/companies/oil-psus-clock-30106-cr-q2-profit-near-39-of-last-years-earnings/article71652288.ece)
- 2026-11-01 — Economic Times: **IOC, BPCL, HPCL clock Rs 30,106 cr Q2 profit, nearly 39 pc of last year's annual earnings** — India's three state-run fuel retailers posted a combined Q2 net profit of Rs 30,106 crore, driven by high refining margins and inventory gains despite frozen domestic fuel prices. The companies face mounting financial pressure from unpaid LPG subsidies, with total under-recoveries reaching Rs 67,900 crore at the end of September. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/ioc-bpcl-hpcl-clock-rs-30106-cr-q2-profit-nearly-39-pc-of-last-years-annual-earnings/articleshow/135420177.cms)
- 2026-10-31 — Mint: **LANXESS and BPCL partner to advance specialty lubricant solutions in India | Company Business News** — LANXESS and Bharat Petroleum Corporation Limited have signed a non-exclusive Memorandum of Understanding to evaluate technical and commercial opportunities in advanced industrial lubricant technologies and specialty fluid solutions. The collaboration seeks to combine LANXESS's additive expertise with BPCL's manufacturing infrastructure to develop localized solutions for OEMs and emerging sectors such as electric vehicles and the hydrogen economy. — [Source](https://www.livemint.com/companies/news/lanxess-and-bpcl-partner-to-advance-specialty-lubricant-solutions-in-india-11793460196080.html)
- 2026-10-29 — The Hindu: **LANXESS, BPCL join hands to develop next-gen lubricant solutions** — LANXESS and Bharat Petroleum Corporation Ltd have signed a non-exclusive memorandum of understanding to explore long-term cooperation in advanced industrial lubricants and specialty fluids in India. The collaboration involves joint technical evaluations, product development, and commercialization subject to regulatory approvals and definitive agreements. — [Source](https://www.thehindu.com/business/Industry/lanxess-bpcl-join-hands-to-develop-next-gen-lubricant-solutions/article71641391.ece)
- 2026-10-29 — The Hindu: **LANXESS, BPCL partner for advanced industrial lubricants** — LANXESS and Bharat Petroleum Corporation have signed a Memorandum of Understanding to explore long-term cooperation in advanced industrial lubricant technologies and specialty fluid solutions in India. The non-exclusive framework focuses on developing innovative lubricant solutions, supporting OEM approvals, and enhancing localisation for industrial sectors. — [Source](https://www.thehindubusinessline.com/news/lanxess-bpcl-partner-for-advanced-industrial-lubricants/article71641123.ece)
- 2026-10-28 — BUSINESSTODAY: **Indian gasoline demand to peak by 2035 as EVs, ethanol blending gain ground: IOC chairman** — India’s petrol demand is expected to peak by 2035 as electric vehicle (EV) adoption, ethanol blending and the growing use of gas-powered vehicles reshape the country’s fuel consumption, Indian Oil Corporation (IOC) Chairman A S Sahney said on Wednesday.“Motor spirit is feeling pressure from all sides. — [Source](https://www.businesstoday.in/latest/corporate/story/indian-gasoline-demand-to-peak-by-2035-as-evs-ethanol-blending-gain-ground-ioc-chairman-564284-2026-10-28)
- 2026-10-28 — CNBC-TV18: **AI products, subscriber renewals key to IndiaMART’s growth oultook, says CEO** — Dinesh Agarwal, CEO and Founder of IndiaMART InterMESH Ltd, said the company is taking steps to improve subscriber renewals, particularly among silver-tier customers. Since most subscriptions are annual, the impact of these measures will take time to show. — [Source](https://www.cnbctv18.com/market/earnings/indiamart-q2-results-arpu-expected-to-grow-8-as-gold-platinum-subscribers-remain-engaged-alpha-article-20021152.htm)
- 2026-10-27 — The Hindu: **Tata Power in MoU with BPCL to develop 110 kV power infra at Mumbai refinery project** — The project will meet the 90 MW power requirement of BPCL's Petro Resid Fluidised Catalytic Cracking Unit (PRFCCU) project at its Mumbai refinery, Tata Power said in a statement — [Source](https://www.thehindu.com/business/tata-power-in-mou-with-bpcl-to-develop-110-kv-power-infra-at-mumbai-refinery-project/article71631475.ece)
- 2026-10-27 — MONEYCONTROL: **BPCL target cut to Rs 385 as high crude prices threaten near-term earnings** — BPCL target cut to Rs 385 as high crude prices threaten near-term earnings Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio IPO Allotment Jio IPO Listing Date Israel Elections 2026 live Microsoft Buyout news Gyanesh Kumar Benjamin Netanyahu Noel Tata Ather Share Price Anthropic IPO News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bonds Silver MCX Price Gold MCX Price Personal Finance — [Source](https://www.moneycontrol.com/news/business/stocks/bpcl-target-cut-to-rs-385-as-high-crude-prices-threaten-near-term-earnings-14061221.html)
- 2026-10-27 — Mint: **Top dividend stocks to buy: PTC India, CESC, Vedanta, Coal India, HPCL offer up to 24% yield. Check full list here** — Axis Securities' dividend-yield report highlights PTC India at 24% and CESC at 10% among small-cap stocks. Vedanta and Coal India each yielded 7% among large caps, while HPCL led the PSU category at 7%. Dividend yield can fluctuate and should not be treated alone as an investment measure. — [Source](https://www.livemint.com/market/stock-market-news/top-dividend-stocks-to-buy-ptc-india-cesc-vedanta-coal-india-hpcl-offer-up-to-24-yield-check-full-list-here-11793085342244.html)
- 2026-10-27 — MONEYCONTROL: **Accumulate Bharat Petroleum Corporation; target of Rs 305: Prabhudas Lilladher** — Accumulate Bharat Petroleum Corporation; target of Rs 305: Prabhudas Lilladher Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio IPO Allotment Jio IPO Listing Date Israel Elections 2026 live Microsoft Buyout news Gyanesh Kumar Benjamin Netanyahu Noel Tata Ather Share Price Anthropic IPO News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bonds Silver MCX Price Gold MCX Price Personal Fina — [Source](https://www.moneycontrol.com/news/business/earnings/accumulate-bharat-petroleum-corporation-target-of-rs-305-prabhudas-lilladher-14061102.html)
- 2026-10-27 — FREEPRESSJOURNAL.IN: **Tata Power And BPCL To Jointly Invest ₹250 Crore In 110 kV Power Infrastructure For Mumbai Refinery Project, Boosting Trombay Network** — Tata Power will develop 110 kV power infrastructure for BPCL’s Petro Resid Fluidized Catalytic Cracking Unit (PRFCCU) project at its Mumbai Refinery. The project involves an estimated outlay of ₹250 crore and is expected to be completed in about 24 months. — [Source](https://www.freepressjournal.in/business/tata-power-and-bpcl-to-jointly-invest-250-crore-in-110-kv-power-infrastructure-for-mumbai-refinery-project-boosting-trombay-network)
- 2026-10-27 — BUSINESSTODAY: **Top dividend yield stocks: Vedanta, Coal India, Indian Oil, BPCL among brokerage's list of companies** — Vedanta, Coal India, Indian Oil Corporation and Bharat Petroleum Corporation Ltd (BPCL) are among the companies featuring in Axis Direct's list of high dividend-yield stocks.The domestic brokerage, in its recent report, has identified companies across the large-cap, mid-cap, small-cap and PSU categories with dividend yields of up to 24 per cent over the past 12 months.Large-cap stocks with high dividend yieldsVedanta and Coal India top the large-cap list, with dividend yields of 7 per cent each over the last 12 months, according to the report. — [Source](https://www.businesstoday.in/markets/stocks/story/top-dividend-yield-stocks-vedanta-coal-india-indian-oil-bpcl-among-brokerages-list-of-companies-563855-2026-10-27)
- 2026-10-26 — The Hindu: **BPCL shifts crude sourcing towards Middle East as Russian oil loses price edge** — BPCL shifts crude sourcing from Russia to the Middle East as freight costs rise, with Russian supply declining and LPG/LNG procurement diversifying. — [Source](https://www.thehindu.com/business/Economy/bpcl-shifts-crude-sourcing-towards-middle-east-as-russian-oil-loses-price-edge/article71628150.ece)
- 2026-10-26 — The Hindu: **Andhra Pradesh refinery approvals likely by February 2027: BPCL** — BPCL targets February 2027 approvals for Andhra Pradesh refinery-petrochem complex, 10 mtpa, 32-33% petrochemicals, with at least 30% equity dilution. — [Source](https://www.thehindubusinessline.com/companies/andhra-pradesh-refinery-approvals-likely-by-february-2027-bpcl/article71626116.ece)

## 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: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/bpcl
Markdown representation: https://faxioms.com/stocks/bpcl?render=md