Intimation on Annual Report for FY 2025-26

BHARAT PETROLEUM CORPORATION LTD. 3ITTcf <Wl5R cl5T 3"Qwl< A Govt. of India Enterprise Sec. 3.4.1 3rd August 2026 The Secretary, The Secretary, BSE Ltd., National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No C/1, Dalal Street, G Block, Bandra-Kurla Complex, Mumbai 400 001 Mumbai 400051 BSE Scrip Code: 500547 NSE Symbol: BPCL Dear Sir/Madam, Sub: Annual Report of BPCL for the financial year 2025-26 The Annual Report of BPCL for the financial year 2025-26 including the Notice of Annual General Meeting (AGM) is enclosed. The same has been uploaded on the website of the Company at www.bharatpetroleum.in. This is for your information. Thanking You, Yours faithfully, For Bharat Petroleum Corporation Limited (V. Kala) Company Secretary ~ mR, 4 {'cf 6, clffi+lm<lits. ~ ~. l:IRG~:a,. 688, 1~-400 001. q;r::r: 2271 3000/4000. ~: 2271 3874 Bharat Bhavan. 4 & 6. Currimbhoy Road, Ballard Estate, P. B. No.688, Mumbai-400 001. Phone: 2271 3000/4000. Fax: 22713874 email: info'g!bh3ratpetroleurn.in website· www bharatpetroleum in CIN· L23220MH 1952GOI008931 Energy Solutions Leapfrogging Bharat Bharat Petroleum Corporation Limited Address: Bharat Bhavan, 4 and 6 Currimbhoy Road, Ballard Estate, Mumbai - 400001 Annual Report 2025-26 Telephone: 022-22713000/022-22714000 | Email: info@bharatpetroleum.in Bharat Petroleum Corporation Limited Contents Energy Solutions 50TH YEAR CELEBRATION 02 Chairman’s Message FY 2025-26 HIGHLIGHTS 03 Leapfrogging Bharat 01 INTRODUCTION About BPCL 06 Chairman’s Message 12 Board of Directors 16 At Bharat Petroleum, we take great pride in powering the everyday lives of millions of Indians. Throughout this journey, we have powered the way a nation moves, builds, cooks, Leadership Team 20 travels, manufactures and grows, delivering the right mix of energy solutions to meet its Read more on Page: 12 evolving needs – serving the Bharat that is prepared to leapfrog the energy transition. 02 BUSINESS OVERVIEW Business Verticals 24 Our Subsidiaries and Joint Ventures 36 With an integrated portfolio spanning transportation fuels to and scale few nations have matched, compressing decades of Business Overview LPG, renewables, biofuels, aviation, industrial & commercial change into years. Our own transformation mirrors this as we Project Aspire 38 solutions, we are building solutions for Bharat. We are become an integrated energy solutions partner for the nation. Brand Impact 44 powering enterprises and homes, making way for EV charging While we are determined to deliver energy solutions aligned infrastructure across the nation and deepening relationships Group Performance Highlights 48 with the aspirations of a Leapfrogging Bharat, we are also with customers by prioritizing their convenience and comfort. committed to deepen trust, strengthen our position in India’s Today, we have earned the distinction of developing an energy value chain and secure long-term energy security for 03 ESG PERFORMANCE OVERVIEW integrated energy solutions ecosystem that is agile, responsive a rapidly growing nation. Environment 52 and responsible. We are nurturing the core even as we build The theme ‘Energy Solutions Leapfrogging Bharat’ - for the future, because we realize that a nation leapfrogging Social 60 encapsulates our vision of powering a nation that is advancing its growth curve requires an energy company that is prepared Read more on Page: 22 at an unprecedented pace. As we deliver innovative and Governance 70 to be an equal contributor in the country’s progress. integrated energy solutions, we remain committed to deepen Risk Management 78 We, therefore, choose the word ‘leapfrog’ with intent. Bharat is trust, strengthen our position in India’s energy value chain and not incrementally catching up with the rest of the world - it is secure long-term energy security for a rapidly growing Bharat. Awards and Recognitions 80 leaping ahead, adopting digital and clean technologies at a pace Project Aspire 04 STATUTORY REPORTS Notice to the Members 84 Directors' Report 98 Management Discussion and Analysis Report 124 Annual Report on CSR Activities 168 Report on Corporate Governance 196 Read more on Page: 38 Business Responsibility and Sustainability Report 222 Comments of CAG 291 Awards and 05 FINANCIAL STATEMENTS Recognitions Independent Auditors’ Report (Standalone) 304 For more information, please visit our Corporate Website: Standalone Financial Statements 320 Click here Independent Auditors’ Report (Consolidated) 402 Read more on Page: 80 Consolidated Financial Statements 412 Watch the BPCL Anthem Video: 06 CORPORATE INFORMATION 504 Click here FY 2025-26 Highlights Financial1 Sustainability Revenue Renewable energy share in total K 5,22,820 Cr 4.46% electricity consumed 5.29% Net profit K 25,843 Cr Wastewater recycled 93.78% 11,594.39 TKL Cash flow from operating activities K 50,769 Cr GHG emissions abated through 114.41% refineries energy conservation Basic earnings per share (ENCON) initiatives K 60.49 93.78% 1,29,581 MT CO e Return on capital employed (RoCE) Total CSR beneficiaries 33% 65.83% 25.97 lakh Capital Expenditure Highest ever Total loss time free manhours K (Refineries) 21,372 Cr 36.05% 113 Mn Operational Installed renewable capacity 251.14 MW Gross refining margin $ 11.74/bbl Renewable Capacity Under Development 72.14% 100.8 MW Refinery crude throughput Highest ever 50th Year Celebration 41.15 MMT 1.58% R&D The defining moment of our 50th Foundation Day evening was launching Capacity utilization (Refineries) Highest ever Patents filed the BPCL Foundation, unifying our healthcare, education, livelihood, sustainability, and inclusion efforts on one structured platform. This 116.6% 1.37% 22 marks our shift from individual initiatives to long-term institutional impact. Patents granted Entering our next phase with clear direction and renewed purpose, we Domestic Market Sales Highest ever remain anchored in our values while adapting to a changing energy 11 54.18 MMT 3.4% landscape, investing in future pathways and strengthening our role as a responsible energy provider. YoY increase | 1 Consolidated 02 03 Bharat Petroleum Corporation Limited Annual Report 2025-26 INTRODUCTION Introduction Business Overview ESG Performance Overview Statutory Reports Financial Statements Bharat Petroleum Corporation Limited, a Maharatna company and one of India's leading integrated energy enterprises, has established a strong presence across the energy value chain, spanning refining, marketing, upstream exploration, gas, renewable energy and emerging energy solutions. As India's second-largest public sector oil marketing company and a Fortune Global 500 enterprise, BPCL plays a pivotal role in strengthening the nation's energy security while delivering innovative energy and mobility solutions that meet the evolving needs IN THIS SECTION of customers and the nation. About BPCL 06 Chairman’s Message 12 Board of Directors 16 Leadership Team 20 04 05 Bharat Petroleum Corporation Limited Annual Report 2025-26 ABOUT BPCL Introduction Business Overview ESG Performance Overview Statutory Reports Financial Statements Business Verticals Energizing India’s Relentless Progress Industrial & Refineries Retail LPG Lubricants Aviation Commercial Solutions BPCL offers an integrated portfolio consisting of Fuels, Lubricants, LPG, Natural Gas, Convenience Retail and Digital Services. With a Non-Fuel Solutions Gas Renewables Biofuels Petrochemicals Pipelines refining capacity of 35.3 MMTPA across its refineries at Mumbai, Kochi and Bina, and an extensive nationwide marketing network of over 25,000 Fuel Stations and more than 6,200 LPG distributors, we serve millions of customers every day. As India's energy landscape evolves, we continue to expand our portfolio across biofuels, renewable energy, electric mobility and green hydrogen, delivering cleaner, smarter and more sustainable energy solutions. Largest Company in India by Turnover Largest Refining Cap [Showing first 8,000 characters — download PDF for full document]