The Board has recommended the issue of bonus shares in the ratio of one equity share of Rs. 10 each for every 1 existing equity share of Rs. 10 each
The board has recommended a final dividend of Rs. 21 per equity share (pre-bonus) for the year 2023-24, which translates into a final dividend of Rs. 10.5 per share (post-bonus). BPCL has recorded its highest ever annual net profit of Rs. 26,673.50 Crores as compared to the profit of Rs. 1,870.10 Crores in FY 22-23.
The net profit for the fourth quarter of FY 23-24 stood at Rs. 4,224.18 Crores as compared to the profit of Rs. 6,477.74 Crores in the corresponding quarter of FY 22-23. Consolidated net profit for FY 23-24 stood at Rs. 26,858.84 Crores as compared to the net profit of Rs. 2,131.05 Crores in FY 22-23.
Consolidated net profit for the fourth quarter of FY 23-24 was Rs. 4,789.57 Crores as compared to the net profit of Rs. 6,870.47 Crores in the corresponding quarter of FY 22-23. The Revenue from Operations for the year ended March 31, 2024, was Rs. 5,06,911.36 Crores Vs Rs. 5,33,467.55 Crores in the previous year. BPCL standalone has reported Revenue from Operations of Rs. 1,32,084.86 Crores for the quarter Jan-Mar 2024 vs. Rs. 1,33,413.81 Crores in the corresponding comparative quarter.
Bharat Petroleum, one of the premier integrated energy companies in India, has posted the highest ever standalone net profit of Rs. 26,673.50 Crores as compared to the profit of Rs. 1,870.10 Crores in FY 22-23.
Major highlights of the financial results are given below:
* The company’s Gross Refining Margins (GRM) for the period FY 2023-24 was $14.14/bbl vs. $20.24/bbl in the corresponding comparative period.
* Net profit for the FY 2023-24 stood at Rs. 26,673.50 Crores.
* EBITDA for FY 23-24 is Rs. 44,771.49 Crores vs. Rs. 11,780.66 Crores in FY 22-23; EBITDA margin was at 8.83% in FY 23-24 vs. 2.21% in FY 22-23.
* EBITDA for Q4 FY 23-24 is Rs. 7,884.14 Crores vs. Rs.10,526.73 Crores in Q4 FY 22-23; EBITDA margin was at 5.97% in Q4 FY 23-24 vs. 7.89% in Q4 FY 22-23.
* Debt-Equity ratio as on March 31, 2024 was at 0.25x (as against 0.69x as on 31st March 2023).
* Company’s net-worth increased to Rs. 74,674.80 Crores as on 31st March 2024 from 51,996.34 Crores as on 31st March 2023.
* The board has recommended a final dividend of Rs. 21 per equity share (pre-bonus) for the year 2023-24, which translates into a final dividend of Rs. 10.5 per share (post-bonus). The said dividend payment is subject to approval of the shareholders at the Annual General Meeting. This is in addition to the interim dividend of Rs. 21 (pre-bonus) per equity share already paid during the year.
* The Board of Directors has recommended the issue of bonus shares in the ratio of one equity share of Rs. 10 each for every existing equity share of Rs. 10 each, which is subject to approval by the shareholders of the company.
Physical Performance:
• In the current year, the throughput was 39.93 MMT vs. 38.53 MMT in FY 22-23. Market Sales were 51.04 MMT in FY 23-24 vs. 48.92 MMT in FY 22-23. Sales have grown by 4.33%.
• During Q4 FY 2023-24, the throughput was 10.36 MMT vs. 10.63 MMT in the comparative period. The market sales for the period Q4 FY 2023-24 have increased to 13.18 MMT from 12.91 MMT in the comparative period (Growth of 2.09%).
• We have achieved an Average Ethanol Blending percentage of 11.69% during 2023-24 with the highest blending in Q4 FY 2023-24 of 12.15%.
• BPCL added 308 New Fuel Stations in Q4 FY 2023-24 (809 from Apr 23 to Mar 24), taking their network strength to 21,840.
Shri G. Krishnakumar, C&MD, BPCL said, “The Financial Year 2023-24 marks a significant milestone in our journey. We've achieved record-breaking operational and financial performance across refining throughput, domestic market sales, and profitability. Our Profit After Tax soared to a historic Rs. 26,673.50 Crores. These achievements provide a strong foundation for BPCL's ambitious strategy ‘Project Aspire’, which, at a planned capital outlay of Rs. 1.7 lakh Crores over 5 years, will fuel our next wave of growth to create long-term value for our shareholders. India's booming economy is our tailwind."
"We're confident it will drive a surge in energy demand, further fueling growth in our core and new businesses. We are planning to expand our refining capacity to 45 MMTPA and add 4,000 new fuel stations by FY2029. We are investing in future big bets including the setting up of petchem facilities in Bina and Kochi, tripling our gas footprint by FY2029, and seizing economic opportunities in the Green Businesses.”
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