The state-owned company plans to boost capacity at its Kochi refinery to 310,000 barrels per day (bpd) from the current 190,000 bpd by May 2016.
Bharat Petroleum Corp on Wednesday said it will invest Rs 4588 crore (USD 741.44 million) to diversify into the petrochemicals business, a move that will help the state refiner expand beyond refining and retailing and boost margins.
BPCL will produce niche petrochemical products,that are predominantly imported into the country, at its Kochi refinery using propylene that will be available once the ongoing refinery expansion is completed, the company said in a statement.
The state-owned company plans to boost capacity at its Kochi refinery to 310,000 barrels per day (bpd) from the current 190,000 bpd by May 2016.
The project proposal will now be submitted for obtaining environmental clearance and the petrochemical unit is expected to come on stream during financial year 2018-2019, BPCL said.
BPCL stock price
On December 03, 2014, Bharat Petroleum Corporation closed at Rs 711.40, down Rs 1.5, or 0.21 percent. The 52-week high of the share was Rs 784.50 and the 52-week low was Rs 315.00.
The company's trailing 12-month (TTM) EPS was at Rs 64.44 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 11.04. The latest book value of the company is Rs 269.11 per share. At current value, the price-to-book value of the company is 2.64.
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