DSE:JAMUNAOIL

Jamuna Oil Company Limited research

Reports on Jamuna Oil Company Limited

Company · Initiation · 31 Oct 2026

Jamuna Oil is a cash box with a fuel licence: fair value range BDT 130–199, base 164, with BDT 15.4bn in stressed banks

Fair value BDT 130–199 (base 164) against a BDT 178.2 price: interest on BDT 74bn of cash, not the Tk0.80/litre margin, drives profit, and the MJL stake adds BDT 43 a share.

Jamuna Oil PLC (DSE: JAMUNAOIL), renamed from Jamuna Oil Company Limited on 30-Jun-2026, is one of the three state fuel-marketing companies owned by Bangladesh Petroleum Corporation (BPC), alongside Padma Oil and Meghna Petroleum. It distributes BPC's diesel, octane, petrol, kerosene, furnace oil and jet fuel…

Fair value ৳130–199 · price ৳178.20 (2026-10-29)

Peer comparisons and industry research covering Jamuna Oil Company Limited

Company · DSE:EASTRNLUB · Fuel marketing, refining & lubricants · Analysis · 29 Oct 2026

Eastern Lubricants Blenders: base oil trading lifted 9M FY2026 EPS to BDT 28.64; bank interest was 50% of pre-WPPF profit

The BPC-controlled blender earns most of its gross profit from importing base oil for the state fuel marketers and most of the rest of its profit from bank deposits; the lube-blending plant ran at about 5% of capacity in FY2025 and the FY2025 audit opinion was qualified on VAT reporting.

Eastern Lubricants Blenders PLC (ELB) is a 51%-owned subsidiary of Bangladesh Petroleum Corporation (BPC). It was registered in 1963 by Burma Oil Company, became a BPC subsidiary in 1977, and BPC took the remaining 49% from Burma Oil in 1985. The company has three lines:…

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