BPCL proclaims capex outlay of Rs 1.70 lakh over subsequent 5 years against ‘Challenge Aspire’ – Trade Information

State-run Bharat Petroleum Corporation (BPCL) on Friday announced its plans to invest around Rs 1.70 lakh crore over five years, wherein it said that the capex outlay for Refineries and Petrochemicals business is planned at Rs 75,000 crore, Rs 10,000 crore for green energy, Rs 20,000 crore for marketing, Rs 25,000 crore towards its city gas distribution (CGD) business, and Rs 32,000 crore for upstream.

During its 71st Annual General Meeting, G Krishnakumar, Chairman and Managing Director, BPCL, said, “While we remain committed to growing our core businesses, which include refining, marketing of petroleum products and upstream, we are equally focused on our big bets comprising petrochemicals, gas, green energy, non-fuel retail, and digital. Project Aspire, with a planned capex outlay of around Rs 1.70 lakh crore over five years, will enable us to create long-term value for our stakeholders, while preserving our planet for future generations. Our healthy balance sheet, currently at zero net-debt at standalone level, allows for these investments without compromising financial stability.” BPCL had introduced the first phase of its five-year strategic framework ‘Project Aspire’ in 2023, which is based on two fundamental pillars – ‘Nurturing the Core’ and ‘Investing in Future Big Bets’. 

BPCL recorded a profit of Rs 26,673.50 crore for the financial year 2023-24, with its highest throughput of 39.93 MMT, and the highest market sales of 51.04 MMT. “This achievement sets the stage for an exciting new chapter in your company’s history, as it enters its golden jubilee era in January 2025,” G Krishnakumar said. 

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In the wake of this, the company board proposed a final pre bonus dividend of Rs 21 per share, which brings the total dividend for the year to Rs 42 per share representing 10.50 times increase compared to FY 2022-23. The Board also issued bonus shares in a ratio of 1:1. 

Now, during the first quarter of FY25, BPCL posted profits at Rs 3,015 crore, which, it said, makes the company the top-performing PSU OMC during this period.