As you mentioned, domestic demand weakness and the c hallenges in the export market, particularly because of the freight rate. My first question is related to the freight rates for the export. As the Israel and the Palestine situation is at a ceasefire and a truce level, when do you expect that freight rate will cool down, come down? And will it help you for your exports? That's one.
Correct, sir.
Thanks for taking my question, sir. Sir, you are guiding us 10 MMSCMD volume growth in a gas transmission segment for a period of FY '26 over FY '25. So, from where this gas will come, if you could provide some clarity or breakup on which sectors will be the gas consumers on your pipeline network?
Thanks a lot, sir.
Sir, gas transmission volume has increased close to 8 MMSCMD on quarter -on-quarter. Can you give us idea how much of this was from the gas power plant? As per our knowledge, you are directly supplying a gas to the gas power plant. So, you will have a better idea on that side?
And that is still sustaining in the month of July?
Congratulations for the good set of numbers. As you mentioned, the recent news flow government of Maharashtra has set up a panel and exploring phasing out of petrol and diesel vehicles in the Mumbai Metro region. We wanted to understand how it will be implemented. That's one thing. And what kind of CNG volume growth you can see from this kind of a decision? Any ballpark number, if you could share with us that would be really helpful.
Sir, Mumbai high Court also directed to BMC that the city bakery units should not use the polluting fuel like wood or coal. And they have directed bakery to convert to use a gas or other green fuel in the next 1 year. What is the additional PNG commercial volume do you expect from this move? And also, correct me if the PNG commercial volume increases, then it also boosts the overall price realization of a company. Because as per our understanding, the PNG commercial is the costliest product among the all.
Thanks for taking my questions. Sir, as you mentioned, the EBITDA margin guidance of INR10 to INR12 and we are still waiting for the CNG price hike, which is due. So this guidance is considering the CNG price hike or without CNG price hike? That's one.
Sir, quickly reframe my question. Suppose we do not pass on the gas cost to the consumer, what kind of hit will come to our gross margin level overall basis because of this reduction in APM gas allocation? Any ballpark number if you have?
Congratulations for the great set of numbers. Sir, wanted to know about, considering the strong CNG volume growth, we wanted to know the CNG vehicle addition details during the quarter. And do you have any updates on the CNG buses addition by the MSRTC?
Sir, can we get a little bit break up on the passenger vehicle, commercial vehicle, auto rickshaws, on these 20,800 CNG vehicle addition details?
Congratulations for the good set of numbers. Sir, as you mentioned in the initial remarks that you are confident to achieve 9.5 MMSCMD exit sales volume in FY '25. So could you please share what is the current sales volume? Because as per our calculations, it suggests you require closer to 7% kind of sequential volume growth, then only you can achieve the 9.5 MMSCMD from the current level of 9.11 MMSCMD. Could you please throw some light what will lead to the 9.5 MMSCMD exit sales volume in FY '25?
So the current sales volumes are much, much closer to the 9.5 MMSCMD. Is that a correct understanding, sir?
What one can assume the total volume for the next year FY '26 period? Any guidance from your side?
So basically, our guidance is mostly on the 9.5 MMSCMD exit for FY '25. So can we build the 8% to 10% growth for the FY '26 exit?
Congratulations for the good set of numbers. Sir, we wanted to understand, despite INR2.5 per kg cut in the CNG prices in the second week of March, your CNG net realization per unit has been largely at the same level. So is it because of the geography-wise CNG mix, which is at changing in favor of higher CNG price realization?
Okay. Sir, if you could share the capital expenditures for the first quarter and the guidance for FY '25?
Sir, we wanted more on the Russian crude side. Do we have any long-term oil sourcing contracts with the Russian supplier? And post these recent sanctions, what would be the impact on the contract? That's one thing. And sir, what is the current crude sourcing arrangement? How much is the long term, short term? If you could share percentage terms, that would be helpful. That's one.
Sir, let me quickly reframe the question. So, my question was like that do we have any long - term oil sourcing contracts with the Russian supplier for the calendar year 2025? And post these sanctions, will it impact on our any long-term contract, if any? Yes, that's the question.
Sir, your debt has declined by 12,000 crores approximately compared to the Q2 FY'25. What was the major cash flow which help you to repay the debt -- is there any adjustment?
Sir, pertaining to the same, in the last quarter guidance for the Vizag refinery unit, you said that 11,000 crores is yet to be capitalized, and which is expected in Q4 FY'25. Post commissioning of these Vizag at your facility, will you consider it and will it increase the debt again, is that a correct understanding?
Thanks for taking my question sir. My question is related to crude sourcing details. From third quarter FY '24, you started providing a detailed crude sourcing, like how much you are buying from ONGC, h ow much is the long -term contracts and the spot purchases? And if possible, Venezuelan crude share and overall? And going forward, do we expect that share of store crude or Russian crude will increase? If you could share some details on that side?
Sir, in last quarter, if I remember correctly, you generally purchase close to 3.5 MMT kind of ONGC crude, then long-term purchases are close to 40% -45%. Is that share has changed - any changes in that side?
Sir, our reported GRM of $5.6 per barrel was hardly $0.6 per ba rrel premium to Singapore benchmark. So apart from refinery shutdowns in Mumbai and the K ochi side, is there anything which impacted the BPCL reported GRM?
Our marketing inventory losses were closer to INR722 crores. An y particular reason? And I just wanted to know how many days of product inventory do we maintain on a general basis?
My question is related to buffer account for the domestic LPG. Sir, you have reported a negative amount by the end of this quarter. And even in the current scenario, you are still losing some money on the sale of domestic LPG. Is there any clause related to buffer account that government will reimburse the under recovery if the buffer account remains negative for 6 months, 12 months, 9 months down the line. That's one thing. And again, we wanted to understand when government can give or consider this amount for the reimbursement? Any thoughts on this side?
Okay. Sir, my second question was related to Russian crude. What was the share of Russian crude BPCL processed during the quarter?
My question is related to buffer account for the domestic LPG. Sir, you have reported a negative amount by the end of this quarter. And even in the current scenario, you are still losing some money on the sale of domestic LPG. Is there any clause related to buffer account that government will reimburse the under recovery if the buffer account remains negative for 6 months, 12 months, 9 months down the line. That's one thing. And again, we wanted to understand when government can give or consider this amount for the reimbursement? Any thoughts on this side?
Okay. Sir, my second question was related to Russian crude. What was the share of Russian crude BPCL processed during the quarter?
Sir, if you could share the crude inventory gains and the product inventory gain numbers for this quarter and whole year, that would be helpful. And the second one is, if possible, can you share the percentage of Venezuelan crude you have processed during the quarter and which refinery can process the Venezuelan crude?
Sir, you mean to say $12.5 per barrel GRM of the quarter does not include the inventory gains. Is that a fair assumption?
Two quick questions. Sir, recently GAIL is seeking a long-term imposed deal of closer to 5.5 MMTPA. And GAIL has also closed some LNG supply contracts of 1.5 MM TPA. So, in this case, can we connect the dots that our Dahej expansion would be ready by March 2025? And so, is there any chance that the GAIL will book some capacity or any talks going on this side? This is my first question.
So, sir, second question is related to the Dahej Regas tariff. Every year we increase the tariff by 5%. And as per the agreement with the promoters, who are mostly the off takers at Dahej. How long we can continue to increase the Dahej tariff every year by 5%? That's one thing. Is there any clause which can pause or it can change the tariff increase in the long run? That's the second. And sir, we also wanted to understand the formula, if any, to calculate the Dahej terminal Regas tariff. Is it based on some percentage of return on equity or the return on capital of the Dahej assets?
Sir, if we calculate the amount of receivable that has reduced by Rs. 45.5 crores sequentially, but at the same time the company has a waive-off of Rs. 63 crores. Sir, as per our understanding the amount of receivable reduced should be the same as the waive off amount. Please correct me if I am wrong.
Sir my second question considering the calendar year 2024, already the 7 months are over, can you give us idea about the volume taken by the offtakers , are as per the contracted quantity or lower than the contracted quantity for the 7 months period of calendar 2024 year? Just an idea.
Sir my question is related to competition from new LNG terminals like Chhara and Dabhol breakwater completion. So, in recent HPCL concall, the management has indicated that the Chhara terminal will be operational in the second half FY’25. And they will also have the same Regas tariff largely in line with the Dahej. So, do we expect any kind of competition from these new terminals?
Okay. And second question during the quarter Q4, you booked the inventory losses of close to Rs. 107 crore so can you through some light on these, how much was the volume on which you have booked the losses, some details about that?
Thanks for taking my question. Sir, my question is related to recent development of APM allocation, which has been cut below 50% to the CNG segment. And it was expected that the CNG price hike in the range of INR3 to INR5 per kg, but still no price hike. And historically, we have seen the prompt price hike or price cut if there is any move on the APM side. So, a whole industry has not taken any price hike. That's one thing. Any particular reason? That's one question. One more question related to the policy shift. So, is there any change in APM gas allocation priority to the sectors? And in the long run, over the period of 5 to 7 years, how much APM gas allocation do you expect for the CNG? This is the first question.
Sir, some follow -up question on the same topic. So, as you mentioned that new well gas will be supplied to the CNG. Just wanted to understand the pricing terms of that gas because someone is saying that 20% premium to $6.5 per MMBtu and someone is saying the 20% premium to the calculated APM gas price based upon the average crude basket price for that particular month. So, and already you have started getting that gas into your overall crude basket. So, what kind of a pricing you are paying in last 8-10 days? Just wanted to understand. So, is it a 20% premium to $6.5 per MMBtu or is it a 20% premium to the $7.48 per MMBtu?