BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Profitability of refining companies is currently a concern as Singapore gross refining margin averaged $0.3/barrel of oil in FY21 year-to-date.
While we do share the concerns on independent refiners like Mangalore Refinery and Petrochemicals Ltd. and Chennai Petroleum Corporation Ltd., our research suggests that the oil marketing companies like Indian Oil Corporation Ltd., Bharat Petroleum Corporation Ltd. and Hindustan Petroleum Corporation Ltd. need only a hike of 0.3-0.6 paisa/litre in auto fuels’ gross marketing margin to compensate for the loss of $1/bbl in refining margins.
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