Mumbai: In a recent statement, Shri G. Krishnakumar, C&MD of BPCL, hailed the Financial Year 2023-24 as a significant milestone for the company.
He announced record-breaking operational and financial performance, with Profit After Tax reaching a historic Rs. 26,673.50 Crores. Highlighting the ambitious strategy “Project Aspire”, with a planned capital outlay of Rs. 1.7 lakh Crores over 5 years, Krishnakumar emphasized BPCL’s commitment to creating long-term value for shareholders.
*Expansion Plans and Future Investments*
BPCL is gearing up for expansion, aiming to increase refining capacity to 45 MMTPA and add 4,000 new fuel stations by FY2029. Additionally, the company plans to triple its gas footprint by the same year and invest in petrochemical facilities in Bina and Kochi, as well as seize opportunities in Green Businesses.
*Outlook for FY2024-25*
Looking ahead, Krishnakumar expressed cautious optimism, expecting crude oil prices to remain in the range of US$ 83-87/bbl in the near future.
Despite potential hurdles like geopolitical tensions and supply chain disruptions, BPCL is prepared to navigate uncertainties with agility and efficiency.
*Bonus Shares Proposal*
Furthermore, the Board of Directors has recommended issuing bonus shares in the ratio of one equity share for every one existing equity share, pending approval by shareholders.
This move reflects BPCL’s commitment to rewarding its investors and further strengthening its position in the market.
