Bharat Petroleum Corporation Limited · NSE:BPCL
Bharat Petroleum — Investor Presentation (November 2015)
26 slides from Bharat Petroleum's investor presentation, November 2015
Slide 1: Bharat Petroleum Corporation Ltd. Investor Presentation
Bharat Petroleum Corporation Ltd. Investor Presentation November 2015
Slide 2: Disclaimer
Disclaimer No information contained herein has been verified for truthfulness completeness, accuracy, reliability or otherwise whatsoever by anyone. While the Company will use reasonable efforts to provide reliable information through this presentation, no representation or warranty (express or impl
Slide 3: Table of Contents
Table of Contents 1. Corporate Overview 4 2 Business Overview 9 3. Industry Overview 23 3
Slide 4: Corporate Overview
1. Corporate Overview Credit Highlights 4
Slide 5: Introduction
Introduction • India’s 3rd largest company by turnover over INR 2,379 bn in FY15 MMT and INR 983 bn in H1FY16 H1FY16 17.5 Market Sales • India’s 2nd largest Oil Marketing Company (OMC) with domestic FY15 34.5 sales volume of over 34.45 MMT in FY15 and 17.45 MMT in FY14 34.0 H1FY16 FY 13 33.3 − Domes
Slide 6: Important Milestones
Important Milestones Kochi Refinery capacity enhanced to 9.5 BPCL entered the LNG market GoI acquired Burmah Shell MMTPA by signing a gas sales MR capacity enhanced to CCR unit at Refineries. Name changed to purchase agreement with 12 MMTPA. Mumbai BPCL in 1977 Petronet LNG BPCL & Videocon JV Refine
Slide 7: Major Subsidiaries/ JVs
Major Subsidiaries/ JVs BHARAT PETROLEUM CORPORATION LIMITED Subsidiaries Joint Ventures Bharat PetroResources Ltd. Refining Bharat Oman Refineries Limited 50.00% 100% Indraprastha Gas Limited 22.50% Central UP Gas Limited 25.00% City Gas Distribution Maharashtra Natural Gas Limited 22.50% Numaligar
Slide 8: Key Business Verticals
Key Business Verticals Industrial / Refinery Aviation Retail Upstream Gas Lubricants LPG Aviation Commercial 21.7% market 25.7% market Refining 27.3% market PI in 17 oil & Currently 54 Currently share* capacity of share* gas blocks 7,000 share* 21.1% market major LNG Currently Cu
Slide 9: Business Overview
2. Business Overview Credit Highlights 9
Slide 10: BPRL's Upstream Story over the years
BPRL’s Upstream Story over the years……. 2015 2014 2013 2012 2011 22 discoveries 2010 20 discoveries (cum) 2009 Schedule B (cum) & Lead Appraisal Wells Joint operator 2008 Reserve operator Shale gas entry certification 2007 Australia Indonesia entry 2006 Brazil & Mozambique NELP VI acquisition 2003 F
Slide 11: Upstream Global Spread
Upstream Global Spread ` Mozambique Brazil Fields Recoverable resources Concession Well Net Pay Prosperidade BM-C -30 Wahoo - 1 65m Golfinho Atum Barra and Barra1 34+18 m & 12m Tubarao 75+ Tcf of Natural Gas Farfan and Farfan 1 40m & 44m BM-SEAL-11 Tubarao Tigre Cumbe (multiple pay 38 m zone) Orca S
Slide 12: Global Upstream Footprint
Global Upstream Footprint Within India Brazil Exploration Block Operator BPRL Stake Partners Exploration Block Operator BPRL Stake* Partners NELP - IV SEAL-M-349 Petrobras 20.0% Videocon CY-ONN-2002/2 ONGC 40.0% SEAL-M-426 Petrobras 20.0% Videocon NELP- VI SEAL-M-497 Petrobras 20.0% Videocon CY-ONN-
Slide 13: Refining Coverage and Refining Capacity
Refining Coverage Installed Capacity Refining Throughput Refining Capacity 28.55 * 29.24* 30.00 28.69* 2.86 2.73 3.10 Mumbai – 240 kbpd 25.00 2.48 2.61 2.78 20.00 14.72* 13.10 13.03 12.96 15.00 1.52 Kochi – 190 kbpd 1.17 10.00 6.57 5.00 10.11 10.32 10.40 5.46 BORL – 120 kbpd - FY 13 FY14 FY15 H1FY16
Slide 14: Bina Refinery
Bina Refinery Bharat Oman Refineries Limited (BORL) –BPCL Interest 50% with 120,000 bpd (6 MMT) Refining capacity at BINA State of art technologies - High Nelson Complexity Index 9.1 NRL Refinery Associated Facilities – SPM, Crude Oil Terminal, 935-km cross country crude oil pipeline from Vadi
Slide 15: Marketing Operations and Efficiencies
Marketing Operations and Efficiencies SBU Market Sales (MMT) Retail Market Share of MS & HSD * 34.00 34.45 35.00 33.30 31.14 30.00 MS > 27.70% Retail 25.00 Lubes 20.00 17.46 Direct 15.00 Aviation HSD > 28.30 % 10.00 LPG 5.00 - FY12 FY13 FY14 FY15 H1FY16 LPG Bottling Plant Capacity (TMTPA) Thru’p
Slide 16: Marketing Expertise and Industry Pioneer Status
Marketing Expertise and Industry Pioneer Status Retail Initiatives Brand & Customer Loyalty Programme Launched the first branded fuel in India i.e. Speed Over 6300 Automated Outlets, Generating over 75% of Pure for Sure (PFS) total retail sales volume − Pioneer program guaranteeing fuel Qualit
Slide 17: Ongoing projects
Ongoing projects – thriving to be self sufficient integrated source of fuel supply Integrated Refinery Expansion Project (IREP) at Kochi – Increasing refining capacity from 9.5 MMTPA to 15.5 MMTPA along with modernization of existing facilities to produce future quality fuels Mumbai Refinery –Re
Slide 18: Upcoming projects
Upcoming projects Funding for upstream developments and new assets Refineries – Upgrade/ Expansion / De-bottlenecking Investments in Gas Expansion of marketing infrastructure across all business verticals Expected Capital Expenditure of around Rs. 100,000 crore on Upcoming and Ongoing proj
Slide 19: Capex Strategy
Capex Strategy Capital Expenditure 99.59 61.25 71.71 51.96 36.05 FY12 FY13 FY14 FY15 H1FY16 Rs bn Strategically expand its upstream activities through inorganic and organic growth opportunities Investment in refining and distribution capacity to bridge the gap between sales volumes and productio
Slide 20: Improved Financial Performance
Improved Financial Performance Net Worth (INR bn) Total Debt / EBITDA 255.63 224.67 2.1x 194.59 1.4x 1.3x FY14 FY15 H1FY16 FY14 FY15 H1FY16 EBITDA / Interest Total Debt / Equity 27.8x 1.0x 18.0x 0.7x 0.6x 7.0x FY14 FY15 H1FY16 FY14 FY15 H1FY16 Stable Earnings and Sound Financial Leverage driving Cre
Slide 21: Improved Financial Performance: PAT and Networth
Improved Financial Performance PAT (INR Billion)/ Networth (%) 60.00 26.56 30.00 Net Profit (Rs.bn) 22.63 45.00 20.87 Networth % 15.89 20.00 30.00 8.79 10.00 15.00 50.85 26.43 40.61 33.94 13.11 - 0.00 FY12 FY13 FY14 FY15 H1FY16 Profit after Tax (Rs. Bn) Networth% Expon. (Networth%) Adjusted Debt-Equ
Slide 22: Highly Experienced Management Team
Highly Experienced Management Team Mr. S Varadarajan, Chairman & Managing Director Over 30 years of industry experience. He also holds the position of Chairman in Numaligarh Refinery Ltd., Bharat Oman Refineries Ltd. and Matrixx Bharat Pte Ltd. & position of Director in Bharat PetroResources Ltd (
Slide 23: Industry Overview
3. Industry Overview Corporate Overview Credit Highlights 23
Slide 24: India - Oil and Gas Demand
India - Oil and Gas Demand Per Capita Oil Consumption India Oil Demand India 3 69.3 FY15 19.1 17.6 China 7 68.4 FY14 17.1 Brazil 10 16.3 Russia 15 69.2 bbl/day per 1000 people FY13 15.7 15.6 Million Tonnes UK 26 64.8 FY12 15.0 Germany 31 15.4 Australia 44 60 FY11 14.2 14.3 US 61 56.2 FY10 12.8 Singa
Slide 25: Indian Oil Industry
Indian Oil Industry Sharing of Under Recoveries • Prices of retail sales of LPG and PDS Kerosene Oil are capped by the Government of India (GoI) • Under-recoveries shared among GoI, the public sector OMCs and the public sector upstream companies (ONGC, OIL and GAIL) • Under-recoveries determined and
Slide 26: Thank You
Thank You
Bharat Petroleum — Investor Presentation (November 2015) on 6ix