Bharat Petroleum Corporation Ltd Q2 2022 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Kirtan Mehta - BOB Capital Markets Limited, Research Division - Analyst : Thank you for the opportunity. Just to sort of understand further on the petrochemical projects that has been previously discussed. What is the incremental margin addition that you have observed in the Q2? Vetsa Ramakrishna Gupta - Bharat Petroleum Corporation Limited - Director of Finance, Head of Corporate Treasury & Director Q2, the margins if you asked because the products are not very significant, very small quantity only per product has come out, around [29 to 30] MMT products had come out. If you ask us, in terms of the margins, the prices are very good, but the only thing the product availability is not good in Q2. So the margins may not be very significant in terms of total contribution in EBITDA from petrochemicals.

Question: Kirtan Mehta - BOB Capital Markets Limited, Research Division - Analyst : For the average refining margin of the Kochi refinery, sir? Vetsa Ramakrishna Gupta - Bharat Petroleum Corporation Limited - Director of Finance, Head of Corporate Treasury & Director That is what we were expecting, even assuming another peak prices of petrochemicals even in the long-term average of petrochemical prices, if all 3 units run all together or definitely that around $1 in terms of the GRM. But however, after redoing the expenses and other things, maybe lesser than GRM levels. But however, we are expecting a GRM level of $1 issues there.

Question: Kirtan Mehta - BOB Capital Markets Limited, Research Division - Analyst : Given in the last call, you had mentioned that the meeting for the bidders with the management of BPCL was the next step. So has that been completed yet? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 30, 2021 / 5:30AM, BPCL.NS - Q2 2022 Bharat Petroleum Corporation Ltd Earnings Call Vetsa Ramakrishna Gupta - Bharat Petroleum Corporation Limited - Director of Finance, Head of Corporate Treasury & Director Nothing has moved in that direction, at least in this quarter, Q2. Nothing has happened.

Question: Amit Rustagi - UBS Investment Bank, Research Division - Analyst : Yes, sir, could you clarify that the open offer required for IGL estimates And we've got some clarifications from SEBI. What did it be clear from them? Vetsa Ramakrishna Gupta - Bharat Petroleum Corporation Limited - Director of Finance, Head of Corporate Treasury & Director As already has clarified. There is no development happened during the quarter. So we -- once again, we are saying that have no intent in our stake. We want to continue stakes in these 2 companies because we have a strategic investment. But otherwise, there is no development happen in that open offer our sites came from or open offer during this quarter.