By: ICN Bureau
Last updated : August 26, 2025 9:20 am
Marking its golden jubilee, BPCL reported record performance in FY 2024-25 — crude throughput of 40.5 MMT, sales of 52.4 MMT, capex of ₹16,967 crore, and net profit of Rs. 13,275 crore, the highest among PSU OMCs
Bharat Petroleum Corporation Ltd. (BPCL) recorded highest profits amongst all the PSU oil marketing companies (OMCs) in fiscal year 2024–25, despite a challenging external environment. Supported by steady GRMs and resilient marketing margins, BPCL posted a standalone net profit of Rs. 13,275 crore, Sanjay Khanna, Chairman & Managing Director, BPCL said while addressing the 72nd AGM of the company.
Continuing with its tradition of setting new benchmarks, the year 2024–25 saw several firsts in our history. BPCL’s refineries processed highest-ever crude throughput of 40.5 MMT, operating at 115% of their design capacity—another record. “We achieved our highest market sales of 52.4 MMT and retained our position as the second-largest PSU OMC with a market share of 27.44%. I’m proud to share that, last year, we also achieved our highest-ever capital expenditure of ₹16,967 crore — a remarkable 45% increase over the previous year. This includes strategic investments in our subsidiaries, joint ventures, and associates,” Khanna said.
On the operational front, our refineries have delivered a performance that truly sets a new benchmark. BPC achieved its highest-ever crude throughput of 40.5 MMTPA, a testament to the relentless dedication of our teams. “Our $6.82/bbl GRM, the highest amongst PSU OMCs, stands as proof of our operational excellence. Consistently higher capacity utilization,” he informed.
To further strengthen this momentum, BPCL’s Mumbai Refinery is set for a major upgrade with the replacement of the existing Catalytic Cracking Unit (CCU) and Fluidized Catalytic Cracking Unit (FCCU) with a state of art Petro Resid Fluidized Catalytic Cracking Unit (PRFCC) and its associated facilities, with an approved investment of Rs. 14,200 crore.
Looking ahead, the refining sector in India is set for a transformative phase, with growth increasingly driven by petrochemical integration.
“Our two major petrochemical projects at Bina and Kochi, with a combined capital investment of Rs. 54,000 crore are progressing well on schedule, both in execution and financing. To support the Bina project, BPCL has secured a Rs. 31,802 crore loan agreement with the State Bank of India Consortium - the largest in our history,” Khanna informed.
Recognising the strong growth potential of India, BPCL is evaluating setting up a greenfield refinery-cum-petrochemical complex near Ramayapatnam Port in Andhra Pradesh. Pre-project activities are underway. This strategic investment will further expand BPCL’s petrochemical portfolio, provide a natural hedge against petroleum products in long run, and align with India’s vision of becoming a global refining and petrochemical hub.
Shifting focus to LPG, the Indian market grew by 4.7% last year. In this competitive environment, BPCL’s LPG business delivered its best-ever performance, achieving packed LPG sales of 8.3 MMT. The company also achieved our highest-ever market share in packed LPG at 27.5% and led the industry with a growth of 5.2% — securing the No. 1 position across Domestic, Packed, Bulk, and Total LPG segments.
BPCL is committed to achieve Net Zero Scope 1 and Scope 2 greenhouse gas emissions by 2040, and our actions across refineries, renewable energy and biofuels are paving the way. “By 2035, we aspire to build a renewable energy portfolio of 10 GW. During 2024-25, we strengthened our renewable energy portfolio, with a total installed capacity of around 155 MW from solar and wind, alongside high-potential projects under development, including a 71 MW solar plant at Prayagraj and two 50 MW wind farms in Madhya Pradesh and Maharashtra,” he said adding that BPCL formed a joint venture company with Sembcorp Green Hydrogen India Private Limited (SGHIPL), a subsidiary of Sembcorp Industries, to jointly pursue large-scale opportunities in renewable energy and green hydrogen projects across India.
On the green hydrogen front, a 5 MW electrolyzer unit was commissioned at Bina Refinery. To promote green hydrogen for mobility, a Green Hydrogen Refueling Station at Kochi, in partnership with Cochin International Airport Limited (CIAL), is ready to commission. BPCL is also exploring innovative applications, from hydrogen-powered buses to Vertical Take-Off and Landing (VTOL) aircraft, reinforcing our vision of sustainable and clean mobility.
“Our biofuels initiatives have set new benchmarks, with ethanol blending rising to 16.35% in FY 2024-25, up from 11.7% the year prior. In the current month, our blending levels have already neared the 20% mark, positioning us to achieve the national target well ahead of the 2025-26 deadline. Alongside bioethanol, our Compressed Biogas (CBG) programs under the government’s SATAT scheme are gaining strong momentum. We are promoters of the SATAT scheme and provide offtake support for marketing of CBG. A total of 10 CBG plants were commissioned by BPCL SATAT Letter Of Intent (LOI) holders,” the CMD added.
BPCL’s first CBG plant at Kochi, set up to process municipal solid waste with the support of the local administration, is going to be a shining example of waste-to-energy. “Looking ahead, we plan to set up 25 additional CBG plants in near future, furthering locally-produced, sustainable fuels. To drive this initiative, we have formed a joint venture with GPS Renewables Private Limited and are in the process of establishing another joint venture with Praj Industries Limited. Also, our 1G/2G bioethanol refinery at Bargarh is under commissioning,” he added.
On the green hydrogen front, a 5 MW electrolyzer unit was commissioned at Bina Refinery. To promote green hydrogen for mobility, a Green Hydrogen Refueling Station at Kochi, in partnership with Cochin International Airport Limited (CIAL), is ready to commission. BPCL is also exploring innovative applications, from hydrogen-powered buses to Vertical Take-Off and Landing (VTOL) aircraft, reinforcing our vision of sustainable and clean mobility.