Bharat Petroleum Corporation Limited

NSEI:BPCL Stock Report

Market Cap: ₹1.2t

Bharat Petroleum Valuation

Is BPCL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BPCL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BPCL (₹282.4) is trading above our estimate of fair value (₹227.54)

Significantly Below Fair Value: BPCL is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BPCL?

Key metric: As BPCL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BPCL. This is calculated by dividing BPCL's market cap by their current earnings.
What is BPCL's PE Ratio?
PE Ratio9.3x
Earnings₹131.10b
Market Cap₹1.25t

Price to Earnings Ratio vs Peers

How does BPCL's PE Ratio compare to its peers?

The above table shows the PE ratio for BPCL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.9x
IOC Indian Oil
10.3x18.3%₹1.8t
HINDPETRO Hindustan Petroleum
18.2x30.3%₹770.6b
500109 Mangalore Refinery and Petrochemicals
28x53.1%₹259.1b
RELIANCE Reliance Industries
22.9x14.0%₹15.8t
BPCL Bharat Petroleum
9.3x3.5%₹1.2t

Price-To-Earnings vs Peers: BPCL is good value based on its Price-To-Earnings Ratio (9.3x) compared to the peer average (19.9x).

Price to Earnings Ratio vs Industry

How does BPCL's PE Ratio compare vs other companies in the IN Oil and Gas Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
533704 Essar Shipping
1.7xn/aUS$93.12m
No more companies available in this PE range
BPCL 9.3xIndustry Avg. 21.0xNo. of Companies4PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BPCL is good value based on its Price-To-Earnings Ratio (9.3x) compared to the Indian Oil and Gas industry average (21x).

Price to Earnings Ratio vs Fair Ratio

What is BPCL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BPCL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.3x
Fair PE Ratio12.7x

Price-To-Earnings vs Fair Ratio: BPCL is good value based on its Price-To-Earnings Ratio (9.3x) compared to the estimated Fair Price-To-Earnings Ratio (12.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BPCL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹282.40
₹346.81
+22.8%
16.3%₹460.00₹250.00n/a31
Nov ’25₹313.00
₹346.10
+10.6%
16.6%₹460.00₹250.00n/a31
Oct ’25₹368.25
₹338.20
-8.2%
16.8%₹460.00₹250.00n/a30
Sep ’25₹357.65
₹334.93
-6.4%
16.8%₹460.00₹230.00n/a30
Aug ’25₹349.10
₹332.00
-4.9%
16.4%₹470.00₹230.00n/a30
Jul ’25₹304.55
₹320.50
+5.2%
16.6%₹455.00₹225.00n/a30
Jun ’25₹313.90
₹315.98
+0.7%
17.1%₹455.00₹225.00n/a30
May ’25₹303.68
₹301.07
-0.9%
19.8%₹445.00₹187.50n/a30
Apr ’25₹300.35
₹294.83
-1.8%
20.8%₹445.00₹187.50n/a30
Mar ’25₹311.65
₹282.69
-9.3%
21.9%₹445.00₹187.50n/a31
Feb ’25₹254.23
₹260.86
+2.6%
16.7%₹330.00₹187.50n/a32
Jan ’25₹226.03
₹225.26
-0.3%
16.1%₹293.50₹150.00n/a31
Dec ’24₹219.00
₹217.97
-0.5%
14.8%₹287.50₹150.00n/a31
Nov ’24₹178.45
₹211.35
+18.4%
13.1%₹280.00₹150.00₹313.0031
Oct ’24₹173.30
₹215.29
+24.2%
13.0%₹281.50₹155.00₹368.2529
Sep ’24₹172.10
₹217.53
+26.4%
11.6%₹281.50₹170.00₹357.6529
Aug ’24₹188.75
₹217.29
+15.1%
11.0%₹281.50₹170.00₹349.1029
Jul ’24₹182.35
₹210.72
+15.6%
11.8%₹264.50₹157.50₹304.5527
Jun ’24₹182.28
₹207.04
+13.6%
12.0%₹264.50₹157.50₹313.9028
May ’24₹178.80
₹190.70
+6.7%
12.6%₹250.00₹145.00₹303.6828
Apr ’24₹172.15
₹189.50
+10.1%
13.4%₹250.00₹145.00₹300.3527
Mar ’24₹157.95
₹188.33
+19.2%
13.0%₹250.00₹145.00₹311.6529
Feb ’24₹167.35
₹190.70
+14.0%
14.8%₹255.00₹137.50₹254.2328
Jan ’24₹165.25
₹188.29
+13.9%
16.5%₹255.00₹127.50₹226.0329
Dec ’23₹169.30
₹183.10
+8.2%
17.5%₹255.00₹127.50₹219.0029
Nov ’23₹152.18
₹191.26
+25.7%
16.8%₹255.00₹120.00₹178.4527

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

Discover undervalued companies

Global Vectra Helicorp

₹3.3b

Offers helicopter charter services for offshore and onshore transportation in the oil and gas exploration and production sector in India.

GLOBALVECT

₹234.45

7D

-9.2%

1Y

137.8%

GP Petroleums

₹3.3b

GP Petroleums Limited formulates, manufactures, and markets industrial and automotive lubricants, rubber process oils, transformer oils, greases, and other specialties to industrial, automotive, and rubber industries in India.

GULFPETRO

₹64.03

7D

0.02%

1Y

19.9%

Global Vectra Helicorp

₹3.3b

Offers helicopter charter services for offshore and onshore transportation in the oil and gas exploration and production sector in India.

532773

₹234.25

7D

-10.3%

1Y

137.9%