Weak refining, impairment lead to earnings miss

Company
13 May 2024
5 Min read 
  • BPCL's 4QFY24 results update includes changes in estimates, target price, and rating.
  •  Weak refining and impairment led to earnings miss in 4QFY24.
  •  Refining throughput, GRM, and marketing sales volume details are provided.
  •  Singapore GRM has been weak in 1QFY25, impacting refining performance.
  •  Earnings estimates remain unchanged, but capex for FY25/FY26 has been raised.
  •  BPCL's valuation, sector performance, and shareholding pattern are discussed.
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