LPG under-recovery without compensation
BPCL incurred ~INR 2,300 crore in LPG losses in Q1, with no government compensation mechanism announced. Monthly losses could be ~INR 600 crore at current Saudi CP prices.
high · management_commentary
Bharat Petroleum Corporation Limited — Q1 FY25
BPCL reported Q1 FY25 revenue of INR 128,103 crore and PAT of INR 3,015 crore, despite absorbing ~INR 2,300 crore in LPG under-recoveries.
bullish
high
✓ Verified against BSE filing
Risk Intelligence
Material risks this quarter
Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.
Risks
Mozambique LNG project cost escalation
The Mozambique LNG project (force majeure) may see cost escalation from $15.5B to ~$19.5-20B, impacting IRR. Management confirmed the project remains commercially viable but with lower returns.
medium · analyst_questionMarket share pressure from private players
BPCL's overall marketing volume growth of 3.2% lagged industry growth of 5.5%, partly due to private players regaining share as pricing normalized. Diesel volumes saw degrowth.
medium · analyst_questionRefinery turnaround impact on throughput
Planned turnarounds at Kochi (45 days) and Bina (15 days) in H2 FY25 could temporarily reduce throughput and GRM.
low · management_commentary