Rs 10.5/Sh Dividend, 1:1 Bonus: Maharatna Oil PSU Sets Record Date For Dividend, Buy?

Large cap maharatna public sector undertaking Bharat Petroleum Corporation Ltd (BPCL) on Saturday fixed August 9, 2024 as the record date for final dividend of Rs 10.5/- per equity share for the financial year 2023-24. Earlier, BPCL also recommended 1:1 bonus issue and fixed June 22, 2024 as the record date. Last trading price of Bharat Petroleum Corporation Ltd share on BSE is Rs 303.80 per share with decline of 4.48% as on July 20, 2024. BPCL shares declined over 1% in last 1-month and gained 58% in last 1-year. Check details below:

Should You Buy BPCL Shares? Brokerage firm Macquarie sought to downgrade valuations of several oil & gas stocks and decided to maintain a cautious approach. The global brokerage firm maintained neutral rating on BPCL shares and slashed the target price to Rs 315 from Rs 515.

BPCL Issues Record Date For Dividend: According to the latest exchange filing issued on a weekend, "the Company has fixed Friday, 9th August 2024 as 'Record Date' for the purpose of determining the eligibility of the members who would be entitled for the final dividend of Rs 10.5/- per equity share for the financial year 2023-24. The final dividend is subject to the approval of the Shareholders at the ensuing Annual General Meeting (AGM) proposed to be held in August 2024. The date of the AGM will be informed separately. The final dividend, if approved, will be paid to the eligible members within the stipulated period of 30 days from the date of AGM."

BPCL Q1 Results: BPCL on July 19, 2024 declared a decline of 71% in its standalone net profit at Rs 3015 crore for Q1 of the financial year 2024-25 as compared to the net profit of Rs 10,551 crore reported in the corresponding quarter of last year. The major reason behind the decline in net profit was weak gross refining margins (GRMs) and higher crude oils prices as a result of geopolitical tensions. Sequentially, net profit slipped nearly 29% as BPCL registered a profit of Rs 4224 crore for the fourth quarter of FY2024.

Revenue from operations remained flat at Rs 1.28 lakh crore for the Q1 financial year 2024-25. BPCL's EBITDA dived 62% from the last year at Rs 6,155 crore.

BPCL Share Performance: BPCL shares gained 26% in last 6-months, soared 34% year-to-date, and jumped 91% in last 2-years. The 52-week high price of Bharat Petroleum Corporation share on BSE is Rs 343.83 per share (as on 16/02/2024) and 52-week low price is Rs 165.75 per share (as on 26/10/2023), respectively. The company has a market capitalisation of Rs 1,31,802.69 crore.

About: BPCL, a Maharatna PSU, aims to efficiently meet the energy needs of our nation with a combined refining capacity of over 40 MMT through refineries in Mumbai, Kochi, Numaligarh and Bina, which are strategically located. One of the best in class & digitally enabled refineries with state-of-the-art technology, efficient operations and high standards of quality, safety, occupational health, environment protection and security.

Disclaimer: The stock has been picked from the brokerage report of Macquarie. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.