BPCL dividend 2021: BPCL posts highest-ever net profit, declares dividend of Rs 58 per share

• BPCL declares final dividend of Rs 58 per equity share including one-time special dividend of Rs. 35 per share.  

• The net profit for Q4 of FY21 was Rs 11,940.13 crore as compared to the loss of Rs 1,361.01 crore in the corresponding quarter of FY20 

New Delhi: Disinvestment-bound Bharat Petroleum Corporation Ltd (BPCL) has posted its highest-ever net profit of Rs 19,041.67 crore in FY21, which marks an over seven-fold rise when compared to FY20 net profit of Rs 2,683.19 crore. BPCL declared a final dividend of Rs 58 per equity share, including one-time special dividend of Rs 35 per share. The net profit for Q4 of FY21 stood at Rs 11,940.13 crore as opposed to a net loss of Rs 707.86 crore in the corresponding period of FY21.

BPCL's EBITDA was at Rs 27,923.99 crore, EBITDA margin was at 9 percent in FY21 and 14 percent in Q4 of FY21. The debt-equity ratio as on March 31, 2021 was at 0.48x (as against 1.26x in FY20). The oil company's gross refining margins (GRMs) for the year stood at US$ 4.06 per barrel and for Q4 period of FY21, the figure was at US$ 6.64 per barrel.  

BPCL's consolidated net profit at Rs 17,319.83 crore in FY21

The consolidated net profit of BPCL stood at Rs 17,319.83 crore in FY21 as opposed to Rs 3,665.78 crore in FY20. For Q4, the consolidated net profit was at Rs 10,641.94 crore as opposed to a net loss of Rs 1,819.56 crore reported in the fourth quarter of the previous financial year. 

BPCL witnessed V-shape recovery in H2 of FY21: Director Finance

Commenting on the performance of BPCL, Director (Finance) N Vijayagopal said, "We witnessed a V-shape recovery in the second half of the financial year, resulting in robust growth in fuel sales. In an unprecedented year that began with a lockdown across the country and subdued business and economic activities, the fourth quarter was a stand-out quarter that helped the company to report its highest-ever growth in bottom-line." 

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"Our market sales of HSD (High Speed Diesel) grew by 5.98 percent and MS (Motor Spirit) grew by 9.89 percent. Our debt level has come down to normal level of Rs 26,000 crore. It is our constant endeavour to create value for our stakeholders, therefore we are happy to announce a record final dividend of Rs 58 per share, including onetime special dividend of Rs 35 per share, subject to approval from the shareholders," said Vijayagopal.

Physical performance

BPCL's total market sales was 38.74 MMT in FY21 as its Mumbai and Kochi refineries processed 26.40 MMT of crude oil in FY21. The company added 2,444 new fuel stations, taking their network strength to 18,637, the 2nd second highest retailing network in India. BPCL added 89 new distributors, taking LPG distributor network strength to 6,159 and the customer base increased to 8.42 crore. The OMC also commissioned an LPG import terminal with a capacity of 1 MMTPA at Haldia. 

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