BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Prabhudas Lilladher Report
We tweak our FY22/23E estimates for Bharat Petroleum Corporation Ltd., as we incorporate actual FY21 numbers and factor in Numaligarh Refinery Ltd. stake sale.
In FY21 core standalone Ebitda adjusted for inventory and forex gains was at Rs 95.0 billion (down 27%YoY), due to weak marketing and refining profits.
We believe that increased crude oil supplies from Organization of the Petroleum Exporting Countries and Iran, post lifting of sanctions will likely keep crude oil prices range bound and support marketing margins in medium term.
Also, gross refining margins will recover with pickup in economic activity.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.