Bharat Petroleum Corporation (BPCL) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of Bharat Petroleum Corporation ₹793, price ₹308, upside +157.7%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Bharat Petroleum Corporation
BPCL · BSEClearly undervaluedStrong Fair Value upside, but quality is only moderate.
What runs behind every stock
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 28, 2026.
How to read this chart
60‑month range ₹122.56 – ₹387.80 · fair‑value band ₹562.06 – ₹1,004 · the ₹307.55 price screens below the ₹792.55 fair value. Dashed = 300-day average. As of Sep 28, 2026.
Company profile
Bharat Petroleum Corporation Limited primarily engages in refining crude oil and marketing petroleum products in India and internationally. It operates through two segments, Downstream Petroleum, and Exploration and Production of Hydrocarbons.
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Bharat Petroleum Corporation Limited primarily engages in refining crude oil and marketing petroleum products in India and internationally. It operates through two segments, Downstream Petroleum, and Exploration and Production of Hydrocarbons. The company's fuel stations sell petrol, diesel, automotive liquefied petroleum gas (LPG), and compressed natural gas; operate convenience stores and restaurants; offer money transfer and insurance broking services; and provide vehicle servicing, repair, and maintenance services. It also provides LPG for domestic, commercial, and industrial applications under the Bharatgas brand name; piped natural gas; lubricants, such as automotive engine oils, gear oils, greases, and specialties, as well as industrial lubricants under the MAK brand name; and engages in the production of jet fuel, as well as provision of related transportation, storage, and into plane services to airlines. In addition, the company offers industrial fuels products, such as black and white oils, bitumen, petcoke, sulphur, propylene, petrochemicals, and solvents, as well as marine bunker fuels; and exports naphtha and fuel oils. Its marketing infrastructure includes a network of installations, depots, retail outlets, aviation fueling stations, and LPG distributors. The company was formerly known as Bharat Refineries Limited and changed its name to Bharat Petroleum Corporation Limited in August 1977. Bharat Petroleum Corporation Limited was incorporated in 1952 and is based in Mumbai, India.
Stock analysis
Bharat Petroleum Corporation (BPCL) currently trades at ₹307.55, while our model-based Fair Value estimate is ₹792.55, implying the stock looks roughly 61.2% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of ₹1,100 per share, and 21 of the 25 models we run sit above the ₹307.55 price.
Bear case: the Asset-Based group reads lowest at ₹154.69, and 4 of the 25 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹562.06 (bear) to ₹1,004 (bull), the price of ₹307.55 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 53/100 (solid quality), in the Energy sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Bharat Petroleum Corporation reported revenue of ₹4.5T in FY2026 versus ₹4.3T in FY2022, a compound +1.0%/yr. Reported net income was ₹258B in FY2026, compounding +22.0%/yr from FY2022.
Key figures
Market cap ₹1.3T (≈ $13.7B) · P/E ratio 5.3 · P/S ratio 0.31 · EPS (TTM) ₹57.60 · Dividend yield 7.3% · Net margin 5.7% · Return on equity 24.8% · Return on assets (EBIT) 10.6%.
What moves the price
The share trades about 21% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −66% fair-value upside, at 158%, BPCL screens cheaper than that median.
Fair Value models
All 25 models by family
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Set up alert →Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 50
Revenue & earnings trend
Growth Forecast
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Compare Bharat Petroleum Corporation with another stock
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Indian Stocks
- Valuation of the India market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Oil & Gas Refining & Marketing stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Reliance Industries Limited RELIANCE | ₹1,226 | ₹865.31 | −29% |
| Valero Energy Corporation VLO | $387.18 | $131.30 | −66% |
| Marathon Petroleum Corporation MPC | $393.52 | $109.88 | −72% |
| Phillips 66 PSX | $255.75 | $86.65 | −66% |
| Neste Oyj NESTE | €34.01 | €5.85 | −83% |
| Formosa Petrochemical Corporation 6505 | 87.20 TWD | 20.61 TWD | −76% |
| HF Sinclair Corporation DINO | $106.82 | $52.92 | −50% |
| SK Innovation Co 096770 | 149,200 KRW | 50,661 KRW | −66% |
| Sunoco LP, SUN | $74.76 | $53.89 | −28% |
| S-Oil Corporation 010950 | 155,600 KRW | 21,240 KRW | −86% |
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Key figures of Bharat Petroleum Corporation
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