Bharat Petroleum Corporation Limited — PPTs, 19-05-2026: Investor Presentation

**Business Performance:** BPCL delivered a strong performance in FY26, with full-year Profit After Tax (PAT) surging by 75.5% to ₹ 23,303 crore from ₹ 13,275 crore in FY25. Profit Before Tax (PBT) also jumped 76.1% to ₹ 31,104 crore. Gross Refining Margin (GRM) almost doubled to $11.74/barrel (vs $6.82 in FY25), signaling robust refining profitability. Domestic petroleum product sales grew to 54.18 MMT, driven by strong demand for MS (petrol) and ATF (aviation fuel).

**Growth Drivers:** Favorable refining margins and increasing domestic fuel demand were key drivers. The company also significantly strengthened its balance sheet by reducing debt.

**Recent Developments:** Total debt saw a massive 55% year-on-year reduction, falling to ₹ 10,480 crore as of March 2026 from ₹ 23,278 crore.

**Key Financial Metrics:** PAT: ₹ 23,303 Cr; PBT: ₹ 31,104 Cr; GRM: $11.74/barrel.

**Management Commentary / Outlook:** The handout did not include explicit management commentary or forward-looking plans. However, the strong operational and financial results suggest positive momentum.