Firstly, many, many congratulations on a superlative performance. I mean I'll just take a few minutes, sir. You have actually paid INR6,300 crores tax, which today, companies are not even reporting on revenue. So many, many congratulations on a superlative performance. And it's clearly showing that BPCL as a company is going to new heights. Now sir, I have a few things, which I would like to bring to your attention and a few suggestions rather I would like to talk about. Sir, firstly, is that this government inflow or whatever was spoken about actually there are press reports stating that the oil companies don't need that. So, our clarification to that level should be issued with immediate effect that there is no need for this because we are virtually now a debt-free company. And management should also consider paying out dividend because I believe IOC, your PEER company is also meeting for results and paying out dividend tomorrow. And sir, I have a suggestion that we should also focus on buyback of shares. Because, sir, I would like to highlight this to you that today, in the public sector, there are 72 or 75 companies. And all the public sector companies in India today have got re-rated except for the oil marketing companies, okay? Now please hear me very carefully. All the public sector companies in India have gone up by 3x to 5x in the last three years. But unfortunately, the oil marketing companies in the public sector space are actually down by 50% to 60%. So, there is absolutely no reason for this to happen. It is purely a perception -related issues, which is basically clouding this sector. And in fact, this sector is doing the best. Today, sir, it is absolutely unthinkable that a company of BPCL's calibre is trading at a 3 PE. I repeat. I mean Bharat Petroleum cannot trade at 3x price -to-earning ratio after having an ROE of 25. I mean BPCL along with Indian Oil and along with HPCL are one of India's best companies which are part of the Fortune 500 companies globally. And there is no reason to say that these companies should trade at 3 to 4 PE, but the perception is a problem. And the perception can be cleared with the help of you and the other companies and the Government of India and these companies will re-rate significantly. So, sir, I really would request you to please focus on integrated margins rather than focusing on refining separately, marketing separately because it has been construed very negatively because people are there digressing and talking about, refining mess, marketing beat, vice versa. And the company is not realizing its true intrinsic value. So, my humble suggestion to the management of a Fortune 500 company along with the government is, please focus on integrated margins, please focus on creating wealth for shareholders in terms of liberal dividends and buyback because we have been a good corpor ate citizen. We have saved the country when the times are tough, but we should also focus on the investors. And I sincerely wish you all the best. You have done an exemplary job. And I do not have any more questions to tell you, but only few suggestion that investors should truly recognize the true value of this company because today, this company is owned by th e government. So, if this company re-rates it benefits the people of India. So, I humbly suggest that please consider a buyback of shares with immediate effect and liberal dividend payouts and please, sir, focus on integrated margins because it will do a world of good to you. I wish you all the best, good luck and God bless you, sir.
Questions across 1 call
Sumeet Rohra
Helios