APN News

  • Wednesday, July, 2018| Today's Market | Current Time: 12:31:35
  • Bharat Petroleum Corporation Ltd (BPCL) records outstanding results achieving the highest ever net profit till date of Rs. 4060.88 crores

    Mumbai: Bharat Petroleum Corporation Ltd (BPCL) has recorded outstanding results in all the facets of business for the year 2013-2014. Both in Refining and Screen shot 2014-09-20 at 1.34.45 AMMarketing, excellent results have been delivered which have contributed to the company achieving the highest ever net profit till date of Rs. 4060.88 crores surpassing last year’s record of Rs. 2642.90 crores.

    Amongst the PSU Oil Companies, BPCL achieved the highest average Gross Refining Margin (GRM)during 2013-14. BPCL’s market sales volume was 34.00 MMT as compared to 33.30 MMT achieved during the last year. BPCL’s market share amongst the public sector oil companies grew to 23.48% from 23.14% recorded in the previous year.

    BPCL’s Gross revenue from operations increased to Rs.2,71,037.35 crores reflecting an increase of8.13% over the previous year’s revenues. BPCL’s net worth as on 31.3.2014 stands at Rs.19,458.76cores as compared to Rs.16,634.02 crores at the end of the previous year. During the year 2013-14, the Earnings per Share stood at Rs.56.16 as compared to Rs.36.55 during 2012-13. The BPCL board has recommended a dividend of 170% (Rs.17 per share) for the year.

    The Corporation’s Refineries achieved excellent performance during 2013-14 consistently registering an overall capacity utilization of over 100%. Mumbai Refinery achieved a throughput of 13.03 MMT while Kochi Refinery for a second year in succession achieved a throughput crossing 10 MMT mark of 10.32 MMT, both the Refineries achieving a capacity utilization of 108.6%.

    The Retail SBU achieved total sales of 23.69 MMT recording 5.2% growth over the previous year. 882nos. new retail outlets were commissioned during the year with a focus on strategic locations in the city and national highway markets. The throughput per outlet at 185kl per month is 20% above the industry.Our most successful initiative Pure for Sure (PFS) was elevated to the next level of PFS Platinum in select markets to deliver a differentiated experience to our customers. During the year, automation systems were installed at 888 Retail Outlets and the total network of Automated Retail Outlets is 4408.A new initiative BPCL FIRST was launched during the year. The objective of this initiative is to create a unique link with the customers of all SBU’s and the Company. A common customer care centre has been set up as part of this initiative.

    In Industrial and Commercial business BPCL has been able to maintain the ‘Preferred Suppliers’ status with all major Industrial customers and continues to offer market differentiation propositions to all our business partners.

    BPCL markets MAK Lubricants across the country through a network of 12000 retail outlets and 500authorized Lubes distributors including 116 distributors in rural areas. MAK has registered a marginal growth of 1.5% in value added sales during 2013-14. BPCL has successfully managed both superior quality of product and prompt services for growth in the Industrial Lubricant sector.

    During the year, LPG SBU enrolled 39.6 lakhs new customers’ vis-à-vis 30.6 lakhs as compared during last year. BPCL added 133 regular Distributors and 285 Rajiv Gandhi Gramin LPG Vitraks (RGGLVs)taking the total number of Distributors to 3355 with 2538 Regular and 817 RGGLVs. The LPG SBU crossed a milestone of 4 MMT sales clocking 4031 TMT sales recording overall growth of 3.78% with market share of 25.6%. A new 5 kg LPG Cylinder titled ‘Bharatgas Mini’ under Free Trade LPG was launched this year primarily to meet the requirement of floating customers and those working odd hours.

    The Aviation Business Unit recorded an all time high sales of 1303 TMT with record growth of 11.23%whereas industry growth was just 4.44%. The Aviation business also achieved the highest ever marketshare of 24.5%. BPCL commenced supply of ATF through MMBPL from BORL to Delhi airport,besides connecting Mumbai and Kochi Refineries to Mumbai and Kochi airport respectively.

    During the year, BPCL handled approx. 1322 TMT of Gas, as compared to 1228 TMT during last year.BPCL, during the year commissioned the facilities for supply of LNG by trucks to automobile company, Mahindra & Mahindra. Several customers have started taking LNG by trucks and currently BPCL is supplying around 14 TMT of LNG per annum by trucks to various customers.

    Bharat Petro Resources Ltd (BPRL) a wholly owned subsidiary company of BPCL with the objective of implementing BPCL’s plans in the upstream exploration and production sector has participating interest in 19 exploration/appraisal blocks. Of this 8 blocks are in India and 11 are located abroad in Australia, East Timor, Indonesia, Mozambique and Brazil. All the blocks of BPRL are under various stages of exploration/appraisal

    The Research and Development centres for BPCL are consistently following the global trends of technology innovations for energizing lives. The Scientists are actively involved in supporting corporate business through constant advanced technical support and novel product/process technology development in niche areas leading to new business development. The corporate R&D centre filed eight patent applications (5 international and 3 Indian) to protect the intellectual property resulting from innovative research during the year.

    On Corporate Social Responsibility (CSR), our core thrust areas for projects are Education and Water Conservation, followed by Health, Skill & Community Development. During the year, BPCL imparted quality education to 75000 children, 30 villages for Water Conservation through Rainwater Harvesting and 750 beneficiaries for income generation through skill development programs. BPCL was recently conferred with World Petroleum Council’s ‘Excellence Award for Social Responsibility’ amongst more than 100 nominations across the world under this category.

    Amongst the Indian Oil and Gas companies listed in Forbes Global 2000 for 2014, BPCL is the only oil company to make a significant leap over 67 places improving its rank to 1045. Our C&MD, Shri.S.Varadarajan has been recognized as the Best Performing CFO in the Oil & Gas/Chemicals Sector in the prestigious CFO 2013-14 Awards by CNBC TV18. In the survey of “India’s Most Respected Companies” by Business World, BPCL topped as the heavyweight company in the oil and gas sector. BPCL retained its third place in the prestigious Economic Ties’ ET 500 listing of India’s Biggest Companies 2013.

    BPCL was awarded the ‘Star PSU of the Year’ trophy in the Business standard Awards for Corporate Excellence in2013 for innovation in its business of refining and marketing and also its entry into upstream sector. The Department of Public Enterprises & Indian Chamber of Commerce have conferred the PSE Excellence award 2013 to BPCL in the Maharatna & Navratna Category for Excellence in Operational Performance. BPCL bagged “ Excellence Awards for Social Responsibility” at the 21st World Petroleum Congress at Russia for its Project Boond. Bharat Petroleum Corporation was crowned the “Leading Oil & Gas Corporate of the Year” and the “Oil & Gas Marketing Company of the Year”, at the PETROFED Oil & Gas Industry Awards 2013.

    Source: Lokesh Shastri