Bharat Petroleum (NSE:BPCL) ROCE %: 23.87% (As of Mar. 2026)

What is Bharat Petroleum ROCE %?

Bharat Petroleum NSE:BPCL -1.88% 79 ROCE % is 23.87% as of Mar. 2026. GuruFocus rates NSE:BPCL with a GF Score™ of 79/100 and a GF Value™ of ₹325.40 (Fairly Valued). The stock has 4 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Bharat Petroleum's annualized ROCE % for the quarter that ended in Mar. 2026 was 23.87%.

Bharat Petroleum (NSE:BPCL) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Bharat Petroleum ROCE % Related Terms

Bharat Petroleum ROCE % Historical Data

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The historical data trend for Bharat Petroleum's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Bharat Petroleum ROCE % Chart

Bharat Petroleum Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

ROCE %

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17.69

6.20

34.32

17.47

27.87

Bharat Petroleum Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
ROCE %	Get a 7-Day Free Trial															21.35	30.16	26.31	29.80	23.87

79GF Score

Bharat Petroleum Corp Ltd NSE:BPCL

ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.

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Bharat Petroleum ROCE % Calculation

Bharat Petroleum's annualized ROCE % for the fiscal year that ended in Mar. 2026 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2026 )		(A: Mar. 2025 )		(A: Mar. 2026 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2026 )		(A: Mar. 2025 )		(A: Mar. 2026 )
	=	377447.3	/	( ( (2183822.2 - 906720)	+	(2486160.3 - 1054524.2) )	/ 2 )
	=	377447.3	/	( (1277102.2	+	1431636.1)	/ 2 )
	=	377447.3	/	1354369.15
	=	27.87 %

Bharat Petroleum's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2026 )		(Q: Dec. 2025 )		(Q: Mar. 2026 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2026 )		(Q: Dec. 2025 )		(Q: Mar. 2026 )
	=	341714	/	( ( (0 - 0)	+	(2486160.3 - 1054524.2) )	/ 1 )
	=	341714	/	( ( 0	+	1431636.1 )	/ 1 )
	=	341714	/	1431636.1
	=	23.87 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

Frequently Asked Questions Learn more about ROCE % →

What does a ROCE % of 23.87% mean?

Bharat Petroleum (NSE:BPCL) has a ROCE % of 23.87% as of Mar. 2026.

Is Bharat Petroleum's ROCE % too high?

Bharat Petroleum's current ROCE % is 23.87%. The Oil & Gas industry median ROCE % is 6.79. Bharat Petroleum's value of 23.87% is 251.5% above this industry median. Overall, Bharat Petroleum has a GF Score™ of 79/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Bharat Petroleum's ROCE % compare to VLO and MPC?

Bharat Petroleum's ROCE % of 23.87% can be compared against companies in the Oil & Gas industry. The industry median ROCE % is 6.79. Bharat Petroleum's value of 23.87% is 251.5% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good ROCE % for an Oil & Gas company?

The median ROCE % among Oil & Gas companies is 6.79, based on 977 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Bharat Petroleum's current ROCE % of 23.87% is 251.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high ROCE % mean?

A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Oil & Gas industry, the median ROCE % is 6.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bharat Petroleum's current ROCE % is 23.87%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Bharat Petroleum stock overvalued right now?

Based on GuruFocus' analysis, Bharat Petroleum (NSE:BPCL) is currently considered Fairly Valued. The stock's GF Value™ is ₹325.40, compared to a current price of ₹309.75 — trading 4.8% below its estimated fair value. The current ROCE % is 23.87% and 251.5% above the Oil & Gas industry median of 6.79. Bharat Petroleum's overall GF Score™ is 79/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is ROCE % calculated?

ROCE % is calculated from a company's financial statements. For Bharat Petroleum (NSE:BPCL), the current ROCE % is 23.87% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Bharat Petroleum (NSE:BPCL) Overvalued in 2026?

Based on GuruFocus' analysis, Bharat Petroleum stock appears to be undervalued. The current stock price of ₹309.75 is trading 4.8% below its estimated GF Value™ of ₹325.40. GuruFocus considers Bharat Petroleum to be Fairly Valued.

Key valuation signals for NSE:BPCL:

ROCE %: 23.87%
GF Value™: ₹325.40 vs. price of ₹309.75 (4.8% below fair value)
GF Score™: 79/100 with 4 warning signs
Industry Position: 251.5% above the Oil & Gas median

No single metric tells the full story. See the NSE:BPCL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Bharat Petroleum Business Description

Industry Energy Oil & Gas

Comparable Companies NSE:HINDPETRO NSE:IOC BOM:532522 BOM:500003 BOM:500109 BOM:500870 BOM:500110 BOM:544545 BOM:526829 BOM:524820 NSE:RELIANCE VLO MPC PSX XKAZ:KMGZ OHEL:NESTE TSE:5020 TPE:6505 XKRX:096770 XKRX:267250

Other Exchanges 500547:India

Address 4 and 6 Currimbhoy Road, Bharat Bhavan, P.O. Box No. 668, Ballard Estate, Mumbai, MH, IND, 400001

Website https://www.bharatpetroleum.in

Bharat Petroleum Corp Ltd operates several refineries in India, while also marketing and distributing petroleum by-products. Operations are divided into the following reportable segments: Downstream Petroleum, and Exploration and Production of Hydrocarbons. Downstream Petroleum operations which generate the majority of its revenue, include the refineries that produce liquefied petroleum gas, aromatics, kerosene, fuel oil, furnace oil, and bitumen. Bharat's petroleum by-products are often commanded by consumers in aviation, autos, maritime, and many other industrial segments. The Downstream Petroleum operations also include the network of retail service stations across India. Geographically, the company derives a majority of its revenue from India and the rest from other countries.

79GF Score

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ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹309.75

Price

₹325.40

GF Value

View NSE:BPCL Analysis

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