Bharat Petroleum Corporation Ltd (BPCL) has reported a significant 19.6% increase in its consolidated profit for Q3 FY25. In response to strong performance, the company has raised its capital expenditure target for the current fiscal year from Rs 13,000 crore to Rs 16,000 crore, with an ambitious target of Rs 19,000 crore set for FY26. BPCL is also preparing for an initial public offering (IPO) of Maharashtra Natural Gas Ltd, its joint venture with GAIL India, anticipated by mid-FY26.
For the April to December period, BPCL achieved a sales volume growth of approximately 4%, with an EBITDA of Rs 20,001 crore and a refinery capacity utilization rate of 107%. The company is excited about its expansion plans, including a substantial Rs 31,800 crore project finance deal for enhancing the Bina refinery’s capacity from 7.8 million metric tonnes per annum (MMTPA) to 11 MMTPA by September 2027. Additionally, a world-class ethylene cracker unit is set to be operational by May 2028.
While BPCL is currently encountering some supply issues with Russian crude due to US sanctions, it remains optimistic that supplies will stabilize. The refining margin has improved to $5.6 per barrel in Q3 FY25, compared to $4.41 in the previous quarter.
On the renewable front, BPCL aims to expand its renewable energy capacity from 120 MW to 2 GW in the coming years, with a long-term goal of reaching 10 GW by 2030, driven by a joint venture with Sembcorp Green Hydrogen India.
Finally, BPCL is poised for operational advancements in its exploration projects, particularly in Mozambique and Brazil, and continues to look for potential development opportunities in Africa amidst ongoing global supply dynamics.
