Bharat Petroleum Corporation Ltd Research Reports

Bharat Petroleum is India’s second-largest public-sector oil company, built from the 1928 Burmah-Shell enterprise that was nationalised in 1976 and later merged with Kochi Refinery. It refines crude oil into fuels and chemicals, then sells those products through the country’s second-biggest retail network - a model that has expanded from petrol pumps and cooking-gas cylinders into petrochemicals, natural gas, renewables, and rural convenience stores. The recurring logic is vertical integration: own the refinery, control the pipeline, and use that backbone to build consumer-facing platforms at national scale, funding each new venture with cash from the last.

Business segments

Five engines at different stages - a hydrocarbon cash cow, two consumer platforms at national scale, and a green-energy bet under construction - each built with the cash flows of the one before.

1. Refining: the factory that feeds everything else

Three refineries turn more than 100 varieties of crude into petrol, diesel, LPG, jet fuel and petrochemical feedstocks, running at 115% of their nameplate capacity - the highest ever - to supply BPCL’s own marketing network.

Cheaper crude, smarter processing - the refineries can run on 100% high-sulphur crude, which costs less than low-sulphur grades, and in the half-year to September 2025 that cheaper crude made up 76% of the slate.
Scale that matters nationally - combined capacity of 35.3 million tonnes per year across Mumbai, Kochi and Bina is India’s third-largest, accounting for roughly 14% of the country’s total refining capacity.
High-value output - a distillate yield of 85.36% means the vast majority of every barrel of crude becomes high-value products like petrol, diesel and jet fuel rather than low-value residue.
Petrochemicals built on the refinery backbone - Kochi already has an integrated petrochemical complex, and a major ethylene cracker with downstream plants was approved for Bina at a gross capital spend of about Rs. 49,000 crore, turning refinery streams into higher-margin chemicals.
Own pipelines, lower logistics cost - a proprietary 3,537 km pipeline network connects all three refineries to marketing terminals, moving products safely and cheaply instead of relying on road or rail.

2. Retail fuels: the forecourt that reaches every corner

India’s second-largest fuel retail network - 23,642 outlets selling petrol, diesel and CNG - doubles as a platform for EV charging, food, and rural commerce.

A pump within reach - the network grew from roughly 20,000 outlets in FY22 to 23,642 in FY25, giving BPCL a market share among public-sector oil companies of about 30% in both petrol and diesel.
Premium fuels with a technology story - ‘Speed’ and ‘Speed 97’ brands use friction-modifier technology that works on both older PFI and newer GDI engines, giving the company a differentiated product rather than a commodity.
Digital nerve centre - the IRIS platform connects more than 20,500 retail outlets, 75 terminals, 50 LPG plants and 14,500 tank lorries, processing over three million data inputs per second with AI and video analytics to manage the entire supply chain in real time.
EV charging at highway scale - over 6,563 charging stations, including fast chargers across 120 highway corridors, were installed by FY25, with more than half added in that year alone.
Non-fuel services build stickiness - BeCafe coffee shops at 111 outlets, In & Out convenience stores at over 200 rural locations, and a co-branded SBI Card with more than three million customers turn a fuel stop into a destination.

3. Bharatgas: cooking fuel for one in four Indian households

The largest domestic LPG customer base among India’s oil marketing companies - over 9.46 crore households - supplied through 6,269 distributors and 54 bottling plants.

A cylinder in nearly every kitchen - BPCL holds a 27.49% market share in packed LPG, its highest ever, and has enrolled more than 2.49 crore poor households under the government’s Ujjwala scheme since it began.
Import terminal as a strategic gate - the Uran LPG Import Terminal on the west coast is BPCL’s only owned import facility and is critical for meeting demand across western, northern and southern India.
Rural women as last-mile entrepreneurs - over 1,000 ‘Urja Devis’ act as village-level retail ambassadors, selling LPG and other products in communities that distributors cannot reach efficiently.
Technology that anticipates demand - an AI-enabled ‘Booking After SMS’ service analyses consumption patterns to suggest refills proactively, and 85% of customers accept the suggestion, reducing the need for manual ordering.
Lighter, safer cylinders - BPCL developed technical specifications for high-tensile-strength steel cylinders that are roughly 20% lighter than conventional ones, making them easier to handle in rural homes.

4. Gas and city distribution: building the pipes for a gas-based economy

A presence in 52 geographical areas across 154 districts, with 2,370 CNG outlets and growing piped-gas connections, backed by long-term supply deals and a 33% combined market share in city gas.

Licence to build a monopoly - BPCL won city-gas rights in 26 areas on its own and another 26 through joint ventures, with a committed standalone investment of over Rs. 22,000 crore to develop these networks after the 11th bidding round.
CNG stations at fuel-retail scale - 840 CNG stations have been mechanically commissioned till date, giving BPCL a 31% CNG market share that rides on its existing petrol-pump real estate.
Propane as a bridge fuel - a 15-year agreement with GAIL to supply 600,000 tonnes per year of propane from the Uran import facility, valued at over Rs. 4,250 crore annually, locks in a long-term industrial customer while monetising import infrastructure.
Gas exchange participation - the business buys and sells on the Indian Gas Exchange platform, giving it flexibility beyond long-term contracts to balance supply and demand.

5. Renewables and green hydrogen: the net-zero bet under construction

A 10 GW renewable-energy target by 2035, a commissioned green-hydrogen plant at Bina, and a joint venture with Sembcorp to build projects across India - all aimed at a Net Zero 2040 pledge.

Green hydrogen already flowing - a 5 MW plant at Bina Refinery has been commissioned and a 1.5 MW refuelling station at Cochin International Airport is underway, proving the technology on a small scale before scaling up.
Captive wind and solar to clean the refineries - two 50 MW wind projects for Bina and Mumbai refineries, plus a 71 MWp solar project in Prayagraj, were approved to replace grid power with captive renewable electricity.
Electrolyser made in-house - the corporate R&D centre developed an indigenous alkaline electrolyser with India’s Bhabha Atomic Research Centre, giving BPCL its own technology for green-hydrogen production rather than relying entirely on imports.
Sembcorp partnership for scale - the 50:50 joint venture NeuEN Green Energy combines BPCL’s domestic energy experience with Sembcorp’s global renewables expertise to develop, build and operate projects across India.

6. Biofuels: the here-and-now alternative fuel engine

A 100 kilolitre-per-day second-generation bioethanol refinery that runs on rice straw, 16.35% ethanol blending achieved nationwide, and joint ventures for compressed biogas - turning agricultural waste into transport fuel.

Ethanol blending at scale - BPCL is the industry coordinator for ethanol procurement and has signed long-term agreements with 131 project proponents for an estimated 430 crore litres of ethanol per year, helping India move toward its 20% blending target.
World-first 2G refinery - the Bargarh plant in Odisha, commissioned in March 2026, produces fuel-grade bioethanol from rice straw using advanced lignocellulosic technology, with zero liquid discharge - meaning it does not release wastewater.
CBG joint ventures for speed - separate 50:50 joint ventures with GPS Renewables and Praj Industries were formed to set up compressed-biogas plants across India, combining BPCL’s distribution reach with specialist technology partners.
Coal gasification as an indigenous alternative - a joint venture with Coal India Limited will produce synthetic natural gas from coal at Western Coalfields in Maharashtra, creating a domestic substitute for imported natural gas; the investment shares of the partners are yet to be finalized after the feasibility study.

Group structure and partners

A government-owned Maharatna with a web of joint ventures that share the capital burden of pipelines, city-gas networks, airports, and new energy - and a growing upstream subsidiary that brings equity crude from Russia, the UAE, Brazil and Mozambique.

Upstream subsidiary with global reach - Bharat PetroResources Limited (BPRL) holds interests in 17 blocks across India and nine overseas countries, plus equity in four producing Russian blocks; its share of equity crude from the UAE’s Lower Zakum concession was about 4.4 million barrels lifted by BPCL refineries in FY23.
Brazil deep-water bet - BPCL, through its wholly owned subsidiary BPRL and its step-down subsidiaries, holds a 65.4% stake in IBV Brasil Petroleo Limitada, which holds a 40% stake in the BM-SEAL-11 concession with Petrobras; an FPSO capable of processing 120,000 barrels per day is expected to start production from 2026-27.
Mozambique LNG waiting in the wings - a 10% interest in Offshore Area 1, holding roughly 63 trillion cubic feet of gas, saw its force majeure resolved in November 2025, clearing the way for construction to resume.
City-gas partnerships spread the risk - joint ventures with GAIL, Gujarat State Petroleum and others cover Delhi NCR (Indraprastha Gas, 22.5%), Gujarat (Sabarmati Gas, 49.94%), Uttar Pradesh, Maharashtra, Goa and Haridwar, giving BPCL a 33% combined CGD market share without carrying all the capital on its own balance sheet.
Trading desk in Singapore - a newly incorporated wholly owned subsidiary, Bharat Petroleum Global Energy Services (Singapore) Pte. Ltd., will operate a trading desk for crude oil, natural gas and petroleum products, bringing trading capability in-house.

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	1,03,044	1,15,499	1,16,555	1,13,095	1,02,785	1,13,166	1,11,230	1,12,551	1,04,946	1,19,029	1,18,701	1,51,277
Growth YoY Revenue Growth YoY%	-10.3	-3.1	-1.3	0.1	-0.3	-2.0	-4.6	-0.5	2.1	5.2	6.7	34.4
Expenses ExpensesCr	90,104	1,09,300	1,07,397	1,07,468	98,268	1,05,640	1,03,494	1,02,874	95,185	1,07,343	1,08,624	1,55,332
Operating Profit Operating ProfitCr	12,941	6,199	9,158	5,627	4,517	7,526	7,737	9,678	9,761	11,687	10,076	-4,055
OPM OPM%	12.6	5.4	7.9	5.0	4.4	6.7	7.0	8.6	9.3	9.8	8.5	-2.7
Other Income Other IncomeCr	911	919	200	807	1,278	478	1,061	1,840	1,375	687	497	3,535
Interest Expense Interest ExpenseCr	1,190	921	967	889	923	861	919	758	833	657	705	627
Depreciation DepreciationCr	1,605	1,830	1,722	1,686	1,779	1,810	1,982	1,889	1,958	1,979	2,031	2,069
PBT PBTCr	11,056	4,367	6,669	3,859	3,094	5,333	5,897	8,872	8,345	9,737	7,838	-3,216
Tax TaxCr	2,812	1,186	1,880	1,017	796	1,527	1,505	2,033	2,153	2,549	2,213	-1,343
PAT PATCr	8,244	3,181	4,790	2,842	2,297	3,806	4,392	6,839	6,191	7,188	5,625	-1,873
Growth YoY PAT Growth YoY%	2,535.4	82.1	-30.3	-73.3	-72.1	19.6	-8.3	140.7	169.5	88.9	28.1	-127.4
NPM NPM%	8.0	2.8	4.1	2.5	2.2	3.4	4.0	6.1	5.9	6.0	4.7	-1.2
EPS EPS₹	19.4	7.5	11.2	6.7	5.4	8.9	10.3	16.0	14.5	16.8	13.2	-4.4

Quarter

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Revenue

RevenueCr

1,03,044

1,15,499

1,16,555

1,13,095

1,02,785

1,13,166

1,11,230

1,12,551

1,04,946

1,19,029

1,18,701

1,51,277

Growth YoY

Revenue Growth YoY%

-10.3

-3.1

-1.3

0.1

-0.3

-2.0

-4.6

-0.5

2.1

5.2

6.7

34.4

Expenses

ExpensesCr

90,104

1,09,300

1,07,397

1,07,468

98,268

1,05,640

1,03,494

1,02,874

95,185

1,07,343

1,08,624

1,55,332

Operating Profit

Operating ProfitCr

12,941

6,199

9,158

5,627

4,517

7,526

7,737

9,678

9,761

11,687

10,076

-4,055

OPM

OPM%

12.6

5.4

7.9

5.0

4.4

6.7

7.0

8.6

9.3

9.8

8.5

-2.7

Other Income

Other IncomeCr

911

919

200

807

1,278

478

1,061

1,840

1,375

687

497

3,535

Interest Expense

Interest ExpenseCr

1,190

921

967

889

923

861

919

758

833

657

705

627

Depreciation

DepreciationCr

1,605

1,830

1,722

1,686

1,779

1,810

1,982

1,889

1,958

1,979

2,031

2,069

PBT

PBTCr

11,056

4,367

6,669

3,859

3,094

5,333

5,897

8,872

8,345

9,737

7,838

-3,216

Tax

TaxCr

2,812

1,186

1,880

1,017

796

1,527

1,505

2,033

2,153

2,549

2,213

-1,343

PAT

PATCr

8,244

3,181

4,790

2,842

2,297

3,806

4,392

6,839

6,191

7,188

5,625

-1,873

Growth YoY

PAT Growth YoY%

2,535.4

82.1

-30.3

-73.3

-72.1

19.6

-8.3

140.7

169.5

88.9

28.1

-127.4

NPM

NPM%

8.0

2.8

4.1

2.5

2.2

3.4

4.0

6.1

5.9

6.0

4.7

-1.2

EPS

EPS₹

19.4

7.5

11.2

6.7

5.4

8.9

10.3

16.0

14.5

16.8

13.2

-4.4

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	1,03,044	1,15,499	1,16,555	1,13,095	1,02,785	1,13,166	1,11,230	1,12,551	1,04,946	1,19,029	1,18,701	1,51,277
Growth YoY Revenue Growth YoY%	-10.3	-3.1	-1.3	0.1	-0.3	-2.0	-4.6	-0.5	2.1	5.2	6.7	34.4
Expenses ExpensesCr	90,104	1,09,300	1,07,397	1,07,468	98,268	1,05,640	1,03,494	1,02,874	95,185	1,07,343	1,08,624	1,55,332
Operating Profit Operating ProfitCr	12,941	6,199	9,158	5,627	4,517	7,526	7,737	9,678	9,761	11,687	10,076	-4,055
OPM OPM%	12.6	5.4	7.9	5.0	4.4	6.7	7.0	8.6	9.3	9.8	8.5	-2.7
Other Income Other IncomeCr	911	919	200	807	1,278	478	1,061	1,840	1,375	687	497	3,535
Interest Expense Interest ExpenseCr	1,190	921	967	889	923	861	919	758	833	657	705	627
Depreciation DepreciationCr	1,605	1,830	1,722	1,686	1,779	1,810	1,982	1,889	1,958	1,979	2,031	2,069
PBT PBTCr	11,056	4,367	6,669	3,859	3,094	5,333	5,897	8,872	8,345	9,737	7,838	-3,216
Tax TaxCr	2,812	1,186	1,880	1,017	796	1,527	1,505	2,033	2,153	2,549	2,213	-1,343
PAT PATCr	8,244	3,181	4,790	2,842	2,297	3,806	4,392	6,839	6,191	7,188	5,625	-1,873
Growth YoY PAT Growth YoY%	2,535.4	82.1	-30.3	-73.3	-72.1	19.6	-8.3	140.7	169.5	88.9	28.1	-127.4
NPM NPM%	8.0	2.8	4.1	2.5	2.2	3.4	4.0	6.1	5.9	6.0	4.7	-1.2
EPS EPS₹	19.4	7.5	11.2	6.7	5.4	8.9	10.3	16.0	14.5	16.8	13.2	-4.4

Quarter

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Revenue

RevenueCr

1,03,044

1,15,499

1,16,555

1,13,095

1,02,785

1,13,166

1,11,230

1,12,551

1,04,946

1,19,029

1,18,701

1,51,277

Growth YoY

Revenue Growth YoY%

-10.3

-3.1

-1.3

0.1

-0.3

-2.0

-4.6

-0.5

2.1

5.2

6.7

34.4

Expenses

ExpensesCr

90,104

1,09,300

1,07,397

1,07,468

98,268

1,05,640

1,03,494

1,02,874

95,185

1,07,343

1,08,624

1,55,332

Operating Profit

Operating ProfitCr

12,941

6,199

9,158

5,627

4,517

7,526

7,737

9,678

9,761

11,687

10,076

-4,055

OPM

OPM%

12.6

5.4

7.9

5.0

4.4

6.7

7.0

8.6

9.3

9.8

8.5

-2.7

Other Income

Other IncomeCr

911

919

200

807

1,278

478

1,061

1,840

1,375

687

497

3,535

Interest Expense

Interest ExpenseCr

1,190

921

967

889

923

861

919

758

833

657

705

627

Depreciation

DepreciationCr

1,605

1,830

1,722

1,686

1,779

1,810

1,982

1,889

1,958

1,979

2,031

2,069

PBT

PBTCr

11,056

4,367

6,669

3,859

3,094

5,333

5,897

8,872

8,345

9,737

7,838

-3,216

Tax

TaxCr

2,812

1,186

1,880

1,017

796

1,527

1,505

2,033

2,153

2,549

2,213

-1,343

PAT

PATCr

8,244

3,181

4,790

2,842

2,297

3,806

4,392

6,839

6,191

7,188

5,625

-1,873

Growth YoY

PAT Growth YoY%

2,535.4

82.1

-30.3

-73.3

-72.1

19.6

-8.3

140.7

169.5

88.9

28.1

-127.4

NPM

NPM%

8.0

2.8

4.1

2.5

2.2

3.4

4.0

6.1

5.9

6.0

4.7

-1.2

EPS

EPS₹

19.4

7.5

11.2

6.7

5.4

8.9

10.3

16.0

14.5

16.8

13.2

-4.4

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	1,87,815	2,01,251	2,35,895	2,98,226	2,84,572	2,30,171	3,46,791	4,73,187	4,48,083	4,40,272	4,55,228	4,93,954
Growth Revenue Growth%	-22.6	7.2	17.2	26.4	-4.6	-19.1	50.7	36.5	-5.3	-1.7	3.4	12.3
Expenses ExpensesCr	1,74,878	1,87,505	2,20,614	2,83,113	2,75,641	2,08,866	3,27,654	4,62,299	4,04,001	4,14,870	4,14,026	4,66,484
Operating Profit Operating ProfitCr	12,937	13,746	15,281	15,112	8,931	21,305	19,137	10,888	44,082	25,401	41,202	27,469
OPM OPM%	6.9	6.8	6.5	5.1	3.1	9.3	5.5	2.3	9.8	5.8	9.1	5.6
Other Income Other IncomeCr	1,947	2,758	2,963	2,975	1,438	7,185	4,939	2,565	3,033	3,629	4,399	6,093
Interest Expense Interest ExpenseCr	680	696	1,186	1,764	2,637	1,723	2,606	4,263	4,149	3,591	2,953	2,823
Depreciation DepreciationCr	2,072	2,108	2,885	3,418	4,080	4,334	5,434	6,369	6,771	7,257	7,856	8,036
PBT PBTCr	12,132	13,700	14,174	12,905	3,652	22,432	16,037	2,821	36,194	18,182	34,791	22,704
Tax TaxCr	4,043	4,193	4,382	4,378	-14	5,112	4,355	690	9,336	4,846	8,948	5,572
PAT PATCr	8,089	9,507	9,792	8,528	3,666	17,320	11,682	2,131	26,859	13,337	25,843	17,132
Growth PAT Growth%	59.2	17.5	3.0	-12.9	-57.0	372.5	-32.5	-81.8	1,160.4	-50.4	93.8	-1.2
NPM NPM%	4.3	4.7	4.2	2.9	1.3	7.5	3.4	0.5	6.0	3.0	5.7	3.5
EPS EPS₹	18.4	22.2	22.9	19.8	7.8	40.9	27.4	5.0	63.0	31.2	60.5	40.1

Financial Year

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

Revenue

RevenueCr

1,87,815

2,01,251

2,35,895

2,98,226

2,84,572

2,30,171

3,46,791

4,73,187

4,48,083

4,40,272

4,55,228

4,93,954

Growth

Revenue Growth%

-22.6

7.2

17.2

26.4

-4.6

-19.1

50.7

36.5

-5.3

-1.7

3.4

12.3

Expenses

ExpensesCr

1,74,878

1,87,505

2,20,614

2,83,113

2,75,641

2,08,866

3,27,654

4,62,299

4,04,001

4,14,870

4,14,026

4,66,484

Operating Profit

Operating ProfitCr

12,937

13,746

15,281

15,112

8,931

21,305

19,137

10,888

44,082

25,401

41,202

27,469

OPM

OPM%

6.9

6.8

6.5

5.1

3.1

9.3

5.5

2.3

9.8

5.8

9.1

5.6

Other Income

Other IncomeCr

1,947

2,758

2,963

2,975

1,438

7,185

4,939

2,565

3,033

3,629

4,399

6,093

Interest Expense

Interest ExpenseCr

680

696

1,186

1,764

2,637

1,723

2,606

4,263

4,149

3,591

2,953

2,823

Depreciation

DepreciationCr

2,072

2,108

2,885

3,418

4,080

4,334

5,434

6,369

6,771

7,257

7,856

8,036

PBT

PBTCr

12,132

13,700

14,174

12,905

3,652

22,432

16,037

2,821

36,194

18,182

34,791

22,704

Tax

TaxCr

4,043

4,193

4,382

4,378

-14

5,112

4,355

690

9,336

4,846

8,948

5,572

PAT

PATCr

8,089

9,507

9,792

8,528

3,666

17,320

11,682

2,131

26,859

13,337

25,843

17,132

Growth

PAT Growth%

59.2

17.5

3.0

-12.9

-57.0

372.5

-32.5

-81.8

1,160.4

-50.4

93.8

-1.2

NPM

NPM%

4.3

4.7

4.2

2.9

1.3

7.5

3.4

0.5

6.0

3.0

5.7

3.5

EPS

EPS₹

18.4

22.2

22.9

19.8

7.8

40.9

27.4

5.0

63.0

31.2

60.5

40.1

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	1,87,815	2,01,251	2,35,895	2,98,226	2,84,572	2,30,171	3,46,791	4,73,187	4,48,083	4,40,272	4,55,228	4,93,954
Growth Revenue Growth%	-22.6	7.2	17.2	26.4	-4.6	-19.1	50.7	36.5	-5.3	-1.7	3.4	12.3
Expenses ExpensesCr	1,74,878	1,87,505	2,20,614	2,83,113	2,75,641	2,08,866	3,27,654	4,62,299	4,04,001	4,14,870	4,14,026	4,66,484
Operating Profit Operating ProfitCr	12,937	13,746	15,281	15,112	8,931	21,305	19,137	10,888	44,082	25,401	41,202	27,469
OPM OPM%	6.9	6.8	6.5	5.1	3.1	9.3	5.5	2.3	9.8	5.8	9.1	5.6
Other Income Other IncomeCr	1,947	2,758	2,963	2,975	1,438	7,185	4,939	2,565	3,033	3,629	4,399	6,093
Interest Expense Interest ExpenseCr	680	696	1,186	1,764	2,637	1,723	2,606	4,263	4,149	3,591	2,953	2,823
Depreciation DepreciationCr	2,072	2,108	2,885	3,418	4,080	4,334	5,434	6,369	6,771	7,257	7,856	8,036
PBT PBTCr	12,132	13,700	14,174	12,905	3,652	22,432	16,037	2,821	36,194	18,182	34,791	22,704
Tax TaxCr	4,043	4,193	4,382	4,378	-14	5,112	4,355	690	9,336	4,846	8,948	5,572
PAT PATCr	8,089	9,507	9,792	8,528	3,666	17,320	11,682	2,131	26,859	13,337	25,843	17,132
Growth PAT Growth%	59.2	17.5	3.0	-12.9	-57.0	372.5	-32.5	-81.8	1,160.4	-50.4	93.8	-1.2
NPM NPM%	4.3	4.7	4.2	2.9	1.3	7.5	3.4	0.5	6.0	3.0	5.7	3.5
EPS EPS₹	18.4	22.2	22.9	19.8	7.8	40.9	27.4	5.0	63.0	31.2	60.5	40.1

Financial Year

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

Revenue

RevenueCr

1,87,815

2,01,251

2,35,895

2,98,226

2,84,572

2,30,171

3,46,791

4,73,187

4,48,083

4,40,272

4,55,228

4,93,954

Growth

Revenue Growth%

-22.6

7.2

17.2

26.4

-4.6

-19.1

50.7

36.5

-5.3

-1.7

3.4

12.3

Expenses

ExpensesCr

1,74,878

1,87,505

2,20,614

2,83,113

2,75,641

2,08,866

3,27,654

4,62,299

4,04,001

4,14,870

4,14,026

4,66,484

Operating Profit

Operating ProfitCr

12,937

13,746

15,281

15,112

8,931

21,305

19,137

10,888

44,082

25,401

41,202

27,469

OPM

OPM%

6.9

6.8

6.5

5.1

3.1

9.3

5.5

2.3

9.8

5.8

9.1

5.6

Other Income

Other IncomeCr

1,947

2,758

2,963

2,975

1,438

7,185

4,939

2,565

3,033

3,629

4,399

6,093

Interest Expense

Interest ExpenseCr

680

696

1,186

1,764

2,637

1,723

2,606

4,263

4,149

3,591

2,953

2,823

Depreciation

DepreciationCr

2,072

2,108

2,885

3,418

4,080

4,334

5,434

6,369

6,771

7,257

7,856

8,036

PBT

PBTCr

12,132

13,700

14,174

12,905

3,652

22,432

16,037

2,821

36,194

18,182

34,791

22,704

Tax

TaxCr

4,043

4,193

4,382

4,378

-14

5,112

4,355

690

9,336

4,846

8,948

5,572

PAT

PATCr

8,089

9,507

9,792

8,528

3,666

17,320

11,682

2,131

26,859

13,337

25,843

17,132

Growth

PAT Growth%

59.2

17.5

3.0

-12.9

-57.0

372.5

-32.5

-81.8

1,160.4

-50.4

93.8

-1.2

NPM

NPM%

4.3

4.7

4.2

2.9

1.3

7.5

3.4

0.5

6.0

3.0

5.7

3.5

EPS

EPS₹

18.4

22.2

22.9

19.8

7.8

40.9

27.4

5.0

63.0

31.2

60.5

40.1

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	723	1,311	1,967	1,967	1,967	2,093	2,129	2,129	2,136	4,273	4,273
Reserves ReservesCr	27,729	30,033	35,108	37,255	35,022	51,634	49,866	51,483	73,573	77,153	95,939
Current Liabilities Current LiabilitiesCr	30,994	47,300	45,810	53,110	60,222	57,704	83,068	74,871	80,883	90,672	1,05,452
Non Current Liabilities Non Current LiabilitiesCr	25,956	29,008	36,022	42,986	52,053	49,722	52,555	59,745	45,899	46,326	42,993
Total Liabilities Total LiabilitiesCr	86,422	1,09,086	1,20,356	1,36,930	1,50,864	1,60,982	1,87,529	1,88,138	2,02,418	2,18,382	2,48,616
Current Assets Current AssetsCr	31,447	37,910	40,602	48,768	43,252	52,075	61,999	56,042	65,694	72,832	83,719
Non Current Assets Non Current AssetsCr	54,975	71,176	79,755	88,163	1,07,612	1,08,907	1,25,529	1,32,096	1,36,724	1,45,550	1,64,897
Total Assets Total AssetsCr	86,422	1,09,086	1,20,356	1,36,930	1,50,864	1,60,982	1,87,529	1,88,138	2,02,418	2,18,382	2,48,616

Financial Year

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Equity CapitalCr

723

1,311

1,967

2,093

2,129

2,136

4,273

Reserves

ReservesCr

27,729

30,033

35,108

37,255

35,022

51,634

49,866

51,483

73,573

77,153

95,939

Current Liabilities

Current LiabilitiesCr

30,994

47,300

45,810

53,110

60,222

57,704

83,068

74,871

80,883

90,672

1,05,452

Non Current Liabilities

Non Current LiabilitiesCr

25,956

29,008

36,022

42,986

52,053

49,722

52,555

59,745

45,899

46,326

42,993

Total Liabilities

Total LiabilitiesCr

86,422

1,09,086

1,20,356

1,36,930

1,50,864

1,60,982

1,87,529

1,88,138

2,02,418

2,18,382

2,48,616

Current Assets

Current AssetsCr

31,447

37,910

40,602

48,768

43,252

52,075

61,999

56,042

65,694

72,832

83,719

Non Current Assets

Non Current AssetsCr

54,975

71,176

79,755

88,163

1,07,612

1,08,907

1,25,529

1,32,096

1,36,724

1,45,550

1,64,897

Total Assets

Total AssetsCr

86,422

1,09,086

1,20,356

1,36,930

1,50,864

1,60,982

1,87,529

1,88,138

2,02,418

2,18,382

2,48,616

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	723	1,311	1,967	1,967	1,967	2,093	2,129	2,129	2,136	4,273	4,273
Reserves ReservesCr	27,729	30,033	35,108	37,255	35,022	51,634	49,866	51,483	73,573	77,153	95,939
Current Liabilities Current LiabilitiesCr	30,994	47,300	45,810	53,110	60,222	57,704	83,068	74,871	80,883	90,672	1,05,452
Non Current Liabilities Non Current LiabilitiesCr	25,956	29,008	36,022	42,986	52,053	49,722	52,555	59,745	45,899	46,326	42,993
Total Liabilities Total LiabilitiesCr	86,422	1,09,086	1,20,356	1,36,930	1,50,864	1,60,982	1,87,529	1,88,138	2,02,418	2,18,382	2,48,616
Current Assets Current AssetsCr	31,447	37,910	40,602	48,768	43,252	52,075	61,999	56,042	65,694	72,832	83,719
Non Current Assets Non Current AssetsCr	54,975	71,176	79,755	88,163	1,07,612	1,08,907	1,25,529	1,32,096	1,36,724	1,45,550	1,64,897
Total Assets Total AssetsCr	86,422	1,09,086	1,20,356	1,36,930	1,50,864	1,60,982	1,87,529	1,88,138	2,02,418	2,18,382	2,48,616

Financial Year

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Equity CapitalCr

723

1,311

1,967

2,093

2,129

2,136

4,273

Reserves

ReservesCr

27,729

30,033

35,108

37,255

35,022

51,634

49,866

51,483

73,573

77,153

95,939

Current Liabilities

Current LiabilitiesCr

30,994

47,300

45,810

53,110

60,222

57,704

83,068

74,871

80,883

90,672

1,05,452

Non Current Liabilities

Non Current LiabilitiesCr

25,956

29,008

36,022

42,986

52,053

49,722

52,555

59,745

45,899

46,326

42,993

Total Liabilities

Total LiabilitiesCr

86,422

1,09,086

1,20,356

1,36,930

1,50,864

1,60,982

1,87,529

1,88,138

2,02,418

2,18,382

2,48,616

Current Assets

Current AssetsCr

31,447

37,910

40,602

48,768

43,252

52,075

61,999

56,042

65,694

72,832

83,719

Non Current Assets

Non Current AssetsCr

54,975

71,176

79,755

88,163

1,07,612

1,08,907

1,25,529

1,32,096

1,36,724

1,45,550

1,64,897

Total Assets

Total AssetsCr

86,422

1,09,086

1,20,356

1,36,930

1,50,864

1,60,982

1,87,529

1,88,138

2,02,418

2,18,382

2,48,616

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	11,119	9,041	11,068	10,157	7,881	23,455	20,336	12,466	35,936	23,678	50,769
Investing Cash Flow Investing Cash FlowCr	-9,233	-15,274	-7,066	-10,451	-11,135	-2,474	-8,138	-7,806	-10,521	-19,180	-26,067
Financing Cash Flow Financing Cash FlowCr	-1,332	4,804	-4,218	207	3,583	-13,981	-17,672	-4,402	-25,427	-6,241	-24,940
Net Cash Flow Net Cash FlowCr	555	-1,429	-215	-87	329	7,000	-5,474	257	-12	-1,743	-238
Free Cash Flow Free Cash FlowCr	947	-502	3,332	-344	-4,289	14,403	12,643	3,960	26,391	10,375	34,946
CFO To PAT CFO To PAT%	137.5	95.1	113.0	119.1	215.0	135.4	174.1	585.0	133.8	177.5	196.4
CFO To EBITDA CFO To EBITDA%	86.0	65.8	72.4	67.2	88.2	110.1	106.3	114.5	81.5	93.2	123.2

Financial Year

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Operating Cash Flow

Operating Cash FlowCr

11,119

9,041

11,068

10,157

7,881

23,455

20,336

12,466

35,936

23,678

50,769

Investing Cash Flow

Investing Cash FlowCr

-9,233

-15,274

-7,066

-10,451

-11,135

-2,474

-8,138

-7,806

-10,521

-19,180

-26,067

Financing Cash Flow

Financing Cash FlowCr

-1,332

4,804

-4,218

207

3,583

-13,981

-17,672

-4,402

-25,427

-6,241

-24,940

Net Cash Flow

Net Cash FlowCr

555

-1,429

-215

-87

329

7,000

-5,474

257

-12

-1,743

-238

Free Cash Flow

Free Cash FlowCr

947

-502

3,332

-344

-4,289

14,403

12,643

3,960

26,391

10,375

34,946

CFO To PAT

CFO To PAT%

137.5

95.1

113.0

119.1

215.0

135.4

174.1

585.0

133.8

177.5

196.4

CFO To EBITDA

CFO To EBITDA%

86.0

65.8

72.4

67.2

88.2

110.1

106.3

114.5

81.5

93.2

123.2

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	11,119	9,041	11,068	10,157	7,881	23,455	20,336	12,466	35,936	23,678	50,769
Investing Cash Flow Investing Cash FlowCr	-9,233	-15,274	-7,066	-10,451	-11,135	-2,474	-8,138	-7,806	-10,521	-19,180	-26,067
Financing Cash Flow Financing Cash FlowCr	-1,332	4,804	-4,218	207	3,583	-13,981	-17,672	-4,402	-25,427	-6,241	-24,940
Net Cash Flow Net Cash FlowCr	555	-1,429	-215	-87	329	7,000	-5,474	257	-12	-1,743	-238
Free Cash Flow Free Cash FlowCr	947	-502	3,332	-344	-4,289	14,403	12,643	3,960	26,391	10,375	34,946
CFO To PAT CFO To PAT%	137.5	95.1	113.0	119.1	215.0	135.4	174.1	585.0	133.8	177.5	196.4
CFO To EBITDA CFO To EBITDA%	86.0	65.8	72.4	67.2	88.2	110.1	106.3	114.5	81.5	93.2	123.2

Financial Year

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Operating Cash Flow

Operating Cash FlowCr

11,119

9,041

11,068

10,157

7,881

23,455

20,336

12,466

35,936

23,678

50,769

Investing Cash Flow

Investing Cash FlowCr

-9,233

-15,274

-7,066

-10,451

-11,135

-2,474

-8,138

-7,806

-10,521

-19,180

-26,067

Financing Cash Flow

Financing Cash FlowCr

-1,332

4,804

-4,218

207

3,583

-13,981

-17,672

-4,402

-25,427

-6,241

-24,940

Net Cash Flow

Net Cash FlowCr

555

-1,429

-215

-87

329

7,000

-5,474

257

-12

-1,743

-238

Free Cash Flow

Free Cash FlowCr

947

-502

3,332

-344

-4,289

14,403

12,643

3,960

26,391

10,375

34,946

CFO To PAT

CFO To PAT%

137.5

95.1

113.0

119.1

215.0

135.4

174.1

585.0

133.8

177.5

196.4

CFO To EBITDA

CFO To EBITDA%

86.0

65.8

72.4

67.2

88.2

110.1

106.3

114.5

81.5

93.2

123.2

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	65,193	93,849	92,833	85,978	68,559	92,833	77,920	74,633	1,30,654	1,20,806	1,21,934	1,27,682
Price To Earnings Price To Earnings	7.5	10.9	9.3	10.0	20.4	5.5	6.5	34.4	4.8	8.9	4.7	7.3
Price To Sales Price To Sales	0.3	0.5	0.4	0.3	0.2	0.4	0.2	0.2	0.3	0.3	0.3	0.3
Price To Book Price To Book	2.1	2.7	2.3	2.0	1.7	1.7	1.5	1.4	1.7	1.5	1.2	1.3
EV To EBITDA EV To EBITDA	6.3	9.0	8.4	8.5	14.4	6.5	7.3	13.0	4.1	6.8	3.9	6.0
Profitability Ratios Profitability Ratios
GPM GPM%	10.3	10.1	9.7	8.2	6.5	13.2	8.2	4.6	11.9	8.0	12.2	12.2
OPM OPM%	6.9	6.8	6.5	5.1	3.1	9.3	5.5	2.3	9.8	5.8	9.1	5.6
NPM NPM%	4.3	4.7	4.2	2.9	1.3	7.5	3.4	0.5	6.0	3.0	5.7	3.5
ROCE ROCE%	25.8	22.9	20.7	17.9	6.4	22.3	16.0	5.8	31.0	15.3	24.4	24.4
ROE ROE%	28.4	30.3	26.4	21.7	9.9	32.2	22.5	4.0	35.5	16.4	25.8	25.8
ROA ROA%	9.4	8.7	8.1	6.2	2.4	10.8	6.2	1.1	13.3	6.1	10.4	10.4
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Current

Valuation Ratios

Market Cap

Market CapitalizationCr

65,193

93,849

92,833

85,978

68,559

92,833

77,920

74,633

1,30,654

1,20,806

1,21,934

1,27,682

Price To Earnings

7.5

10.9

9.3

10.0

20.4

5.5

6.5

34.4

4.8

8.9

4.7

7.3

Price To Sales

0.3

0.5

0.4

0.3

0.2

0.4

0.2

0.3

Price To Book

2.1

2.7

2.3

2.0

1.7

1.5

1.4

1.7

1.5

1.2

1.3

EV To EBITDA

6.3

9.0

8.4

8.5

14.4

6.5

7.3

13.0

4.1

6.8

3.9

6.0

Profitability Ratios

GPM

GPM%

10.3

10.1

9.7

8.2

6.5

13.2

8.2

4.6

11.9

8.0

12.2

OPM

OPM%

6.9

6.8

6.5

5.1

3.1

9.3

5.5

2.3

9.8

5.8

9.1

5.6

NPM

NPM%

4.3

4.7

4.2

2.9

1.3

7.5

3.4

0.5

6.0

3.0

5.7

3.5

ROCE

ROCE%

25.8

22.9

20.7

17.9

6.4

22.3

16.0

5.8

31.0

15.3

24.4

ROE

ROE%

28.4

30.3

26.4

21.7

9.9

32.2

22.5

4.0

35.5

16.4

25.8

ROA

ROA%

9.4

8.7

8.1

6.2

2.4

10.8

6.2

1.1

13.3

6.1

10.4

Operational Ratios

Solvency Ratios

Liquidity Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	65,193	93,849	92,833	85,978	68,559	92,833	77,920	74,633	1,30,654	1,20,806	1,21,934	1,27,682
Price To Earnings Price To Earnings	7.5	10.9	9.3	10.0	20.4	5.5	6.5	34.4	4.8	8.9	4.7	7.3
Price To Sales Price To Sales	0.3	0.5	0.4	0.3	0.2	0.4	0.2	0.2	0.3	0.3	0.3	0.3
Price To Book Price To Book	2.1	2.7	2.3	2.0	1.7	1.7	1.5	1.4	1.7	1.5	1.2	1.3
EV To EBITDA EV To EBITDA	6.3	9.0	8.4	8.5	14.4	6.5	7.3	13.0	4.1	6.8	3.9	6.0
Profitability Ratios Profitability Ratios
GPM GPM%	10.3	10.1	9.7	8.2	6.5	13.2	8.2	4.6	11.9	8.0	12.2	12.2
OPM OPM%	6.9	6.8	6.5	5.1	3.1	9.3	5.5	2.3	9.8	5.8	9.1	5.6
NPM NPM%	4.3	4.7	4.2	2.9	1.3	7.5	3.4	0.5	6.0	3.0	5.7	3.5
ROCE ROCE%	25.8	22.9	20.7	17.9	6.4	22.3	16.0	5.8	31.0	15.3	24.4	24.4
ROE ROE%	28.4	30.3	26.4	21.7	9.9	32.2	22.5	4.0	35.5	16.4	25.8	25.8
ROA ROA%	9.4	8.7	8.1	6.2	2.4	10.8	6.2	1.1	13.3	6.1	10.4	10.4
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Current

Valuation Ratios

Market Cap

Market CapitalizationCr

65,193

93,849

92,833

85,978

68,559

92,833

77,920

74,633

1,30,654

1,20,806

1,21,934

1,27,682

Price To Earnings

7.5

10.9

9.3

10.0

20.4

5.5

6.5

34.4

4.8

8.9

4.7

7.3

Price To Sales

0.3

0.5

0.4

0.3

0.2

0.4

0.2

0.3

Price To Book

2.1

2.7

2.3

2.0

1.7

1.5

1.4

1.7

1.5

1.2

1.3

EV To EBITDA

6.3

9.0

8.4

8.5

14.4

6.5

7.3

13.0

4.1

6.8

3.9

6.0

Profitability Ratios

GPM

GPM%

10.3

10.1

9.7

8.2

6.5

13.2

8.2

4.6

11.9

8.0

12.2

OPM

OPM%

6.9

6.8

6.5

5.1

3.1

9.3

5.5

2.3

9.8

5.8

9.1

5.6

NPM

NPM%

4.3

4.7

4.2

2.9

1.3

7.5

3.4

0.5

6.0

3.0

5.7

3.5

ROCE

ROCE%

25.8

22.9

20.7

17.9

6.4

22.3

16.0

5.8

31.0

15.3

24.4

ROE

ROE%

28.4

30.3

26.4

21.7

9.9

32.2

22.5

4.0

35.5

16.4

25.8

ROA

ROA%

9.4

8.7

8.1

6.2

2.4

10.8

6.2

1.1

13.3

6.1

10.4

Operational Ratios

Solvency Ratios

Liquidity Ratios

	RELIANCE	IOC	BPCL	HINDPETRO	MRPL	CHENNPETRO	GANDHAR
Market CapitalizationMkt CapCr	16,26,611	1,83,929	1,27,682	74,155	30,355	21,336	2,909
Close PriceClose₹	1,202.00	130.25	294.30	348.50	173.20	1,432.80	297.20
IndustryIndustry	Refineries	Refineries	Refineries	Refineries	Refineries	Refineries	Refineries
Price To EarningsPE	21.77	5.33	7.34	44.39	6.87	5.11	9.65
Price To SalesPS	1.45	0.21	0.26	0.16	0.25	0.28	0.58
RevenueRevenueCr	11,23,055	8,58,482	4,93,954	4,71,530	1,19,432	76,197	5,052
Revenue Growth TTMRev Gr TTM%	15.0%	13.5%	12.3%	9.4%	38.1%	33.5%	32.8%
PAT Growth TTMPAT Gr TTM%	-6.5%	111.7%	-1.2%	-83.6%	325.8%	2,379.9%	312.1%

Market CapitalizationMkt CapCr

16,26,611

1,83,929

1,27,682

74,155

30,355

21,336

2,909

Close PriceClose₹

1,202.00

130.25

294.30

348.50

173.20

1,432.80

297.20

IndustryIndustry

Refineries

Price To EarningsPE

21.77

5.33

7.34

44.39

6.87

5.11

9.65

Price To SalesPS

1.45

0.21

0.26

0.16

0.25

0.28

0.58

RevenueRevenueCr

11,23,055

8,58,482

4,93,954

4,71,530

1,19,432

76,197

5,052

Revenue Growth TTMRev Gr TTM%

15.0%

13.5%

12.3%

9.4%

38.1%

33.5%

32.8%

PAT Growth TTMPAT Gr TTM%

-6.5%

111.7%

-1.2%

-83.6%

325.8%

2,379.9%

312.1%

	RELIANCE	IOC	BPCL	HINDPETRO	MRPL	CHENNPETRO	GANDHAR
Market CapitalizationMkt CapCr	16,26,611	1,83,929	1,27,682	74,155	30,355	21,336	2,909
Close PriceClose₹	1,202.00	130.25	294.30	348.50	173.20	1,432.80	297.20
IndustryIndustry	Refineries	Refineries	Refineries	Refineries	Refineries	Refineries	Refineries
Price To EarningsPE	21.77	5.33	7.34	44.39	6.87	5.11	9.65
Price To SalesPS	1.45	0.21	0.26	0.16	0.25	0.28	0.58
RevenueRevenueCr	11,23,055	8,58,482	4,93,954	4,71,530	1,19,432	76,197	5,052
Revenue Growth TTMRev Gr TTM%	15.0%	13.5%	12.3%	9.4%	38.1%	33.5%	32.8%
PAT Growth TTMPAT Gr TTM%	-6.5%	111.7%	-1.2%	-83.6%	325.8%	2,379.9%	312.1%

Market CapitalizationMkt CapCr

16,26,611

1,83,929

1,27,682

74,155

30,355

21,336

2,909

Close PriceClose₹

1,202.00

130.25

294.30

348.50

173.20

1,432.80

297.20

IndustryIndustry

Refineries

Price To EarningsPE

21.77

5.33

7.34

44.39

6.87

5.11

9.65

Price To SalesPS

1.45

0.21

0.26

0.16

0.25

0.28

0.58

RevenueRevenueCr

11,23,055

8,58,482

4,93,954

4,71,530

1,19,432

76,197

5,052

Revenue Growth TTMRev Gr TTM%

15.0%

13.5%

12.3%

9.4%

38.1%

33.5%

32.8%

PAT Growth TTMPAT Gr TTM%

-6.5%

111.7%

-1.2%

-83.6%

325.8%

2,379.9%

312.1%

Bharat Petroleum Corporation Ltd

Bharat Petroleum Corporation Ltd

Quick Ratios

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Balance Sheet

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