Bharat Petroleum Corporation Limited (NSE:BPCL) just released its latest third-quarter results and things are looking bullish. It was a solid earnings report, with revenues and statutory earnings per share (EPS) both coming in strong. Revenues were 14% higher than the analysts had forecast, at ₹1.2t, while EPS were ₹16.82 beating analyst models by 29%. This is an important time for investors, as they can track a company’s performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
NSEI:BPCL Earnings and Revenue Growth January 28th 2026
Taking into account the latest results, Bharat Petroleum’s 18 analysts currently expect revenues in 2027 to be ₹4.42t, approximately in line with the last 12 months. Statutory earnings per share are expected to drop 14% to ₹48.51 in the same period. Before this earnings report, the analysts had been forecasting revenues of ₹4.53t and earnings per share (EPS) of ₹47.45 in 2027. So it’s pretty clear that while sentiment around revenues has declined following the latest results, the analysts are now more bullish on the company’s earnings power.
View our latest analysis for Bharat Petroleum
There’s been no real change to the average price target of ₹416, with the lower revenue and higher earnings forecasts not expected to meaningfully impact the company’s valuation over a longer timeframe. That’s not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. There are some variant perceptions on Bharat Petroleum, with the most bullish analyst valuing it at ₹530 and the most bearish at ₹300 per share. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.
Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. These estimates imply that revenue is expected to slow, with a forecast annualised decline of 1.0% by the end of 2027. This indicates a significant reduction from annual growth of 11% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 5.5% annually for the foreseeable future. So although its revenues are forecast to shrink, this cloud does not come with a silver lining – Bharat Petroleum is expected to lag the wider industry.
The Bottom Line
The biggest takeaway for us is the consensus earnings per share upgrade, which suggests a clear improvement in sentiment around Bharat Petroleum’s earnings potential next year. On the negative side, they also downgraded their revenue estimates, and forecasts imply they will perform worse than the wider industry. Even so, earnings per share are more important to the intrinsic value of the business. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.
With that said, the long-term trajectory of the company’s earnings is a lot more important than next year. We have forecasts for Bharat Petroleum going out to 2028, and you can see them free on our platform here.
You still need to take note of risks, for example – Bharat Petroleum has 2 warning signs (and 1 which is potentially serious) we think you should know about.
Discover if Bharat Petroleum might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.
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