Hindustan Petroleum Corporation Ltd
Hindustan Petroleum Corporation Ltd
Petroleum Products F&OKey Fundamentals
MidcapRefineries & MarketingPetroleum ProductsInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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37 extracted metrics + investor summaries across FY11–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
4- Company has reduced debt.
- Stock is providing a good dividend yield of 6.49%.
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.8%
- Company has been maintaining a healthy dividend payout of 29.9%
Weaknesses
2- Company has low interest coverage ratio.
- Earnings include an other income of Rs.4,001 Cr.
Growth Rate
AI Analysis — Bull vs Bear
Hindustan Petroleum Corporation Ltd has a market cap of Rs.79,591 Cr and trades at a PE of 50.1x, reflecting a sharp TTM profit decline of 84%. The company offers a dividend yield of 6.49% and has a 3-year ROE of 28%, but faces earnings volatility typical of downstream petroleum refining and marketing operations.
- Strong 3-year ROE of 28% and last year ROE of 31%, indicating efficient capital utilization in recent years
- Attractive dividend yield of 6.49% with a consistent payout ratio of 29.9%, providing income support
- Company has reduced debt, improving balance sheet resilience against commodity cycles
- 10-year compounded sales growth of 10% demonstrates long-term revenue expansion capability
- 3-year stock CAGR of 29% reflects strong medium-term price appreciation for existing holders
- 5-year compounded profit growth of 11% shows the company can deliver earnings growth across cycles
- 10-year compounded profit growth of 14% indicates structural long-term earnings expansion
- TTM profit decline of 84% signals severe earnings compression in the most recent period
- PE ratio of 50.1x is elevated for a cyclical commodity company, suggesting the stock prices in recovery that may not materialize quickly
- Low interest coverage ratio indicates vulnerability to rising interest rates or prolonged margin weakness
- Earnings include other income of Rs.4,001 Cr, meaning core operating profitability is weaker than headline numbers suggest
- 3-year compounded sales growth of 0% shows revenue stagnation in the medium term
- 1-year stock return of -5% reflects market skepticism about near-term earnings recovery
- Price-to-book of 1.28x combined with a 50.1x PE suggests book value is high relative to current depressed earnings power
- 5-year ROE of 18% versus last year's 31% highlights earnings cyclicality and unsustainable peak returns
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- ₹12,265 Cr Q1FY27 net loss Jul 23
HPCL reported a consolidated net loss of ₹12,265 crore in Q1FY27, reversing a profit of ₹4,111 crore in the prior year, driven by sharply higher costs despite revenue of ₹1,45,126 crore.
- Record FY26 PAT ₹17,175 Cr Aug 2
HPCL posted record standalone PAT of ₹17,175 crore in FY26 with highest-ever crude throughput of 26.04 MMT and sales volume of 51.45 MMT.
- BRSR filed with strong turnover Aug 3
HPCL submitted its FY26 BRSR disclosing gross turnover of ₹4,76,411 crore and paid-up capital of ₹2,128 crore, demonstrating ESG reporting compliance.
- Strong refinery utilization at 107% Jul 23
Despite the Q1 loss, refinery utilization stood at 107% with sales volume growth to 13.12 MMT and HRRL commenced commercial operations.
- Investor meets in August 2026 Aug 5
HPCL management will attend Emkay Confluence 2026 on Aug 14 and Motilal Oswal 22nd Annual Global Investor Conference on Aug 18 in Mumbai.
- 74th AGM on August 26 Jul 30
HPCL scheduled its 74th AGM for August 26, 2026 via video conferencing with electronic voting through NSDL.
- Executive Director resignation accepted Aug 1
HPCL accepted the resignation of Ramakrishnan Subramanian as ED - HSE (Marketing) effective August 1, 2026, due to superannuation.
TL;DR: HPCL delivered a record FY26 with PAT of ₹17,175 crore and highest-ever throughput, but Q1FY27 saw a sharp reversal with a ₹12,265 crore consolidated loss driven by cost pressures. Operational metrics like 107% refinery utilization and HRRL commercialization remain strong. The key risk is whether elevated costs persist into coming quarters, which could erode the gains from FY26. Upcoming investor conferences and the AGM in August may provide management clarity on margin outlook.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,12,079 | 95,752 | 1,11,348 | 1,14,678 | 1,13,888 | 99,957 | 1,10,608 | 1,09,633 | 1,10,825 | 1,00,856 | 1,15,153 | 1,14,937 | 1,40,584 |
| Expenses | 1,02,434 | 87,512 | 1,09,187 | 1,09,796 | 1,11,800 | 97,661 | 1,05,113 | 1,03,845 | 1,03,365 | 94,003 | 1,08,155 | 1,05,726 | 1,56,707 |
| Operating Profit | 9,646 | 8,240 | 2,160 | 4,882 | 2,089 | 2,296 | 5,495 | 5,788 | 7,461 | 6,852 | 6,998 | 9,211 | -16,122 |
| OPM % | 9% | 9% | 1.9% | 4.3% | 1.8% | 2.3% | 5% | 5% | 7% | 7% | 6% | 8% | -11% |
| Other Income | 1,299 | 1,040 | 791 | 594 | 933 | 526 | 462 | 930 | 507 | 715 | 727 | 1,910 | 648 |
| Interest | 627 | 590 | 620 | 720 | 733 | 944 | 931 | 757 | 817 | 824 | 734 | 1,020 | 818 |
| Depreciation | 1,371 | 1,247 | 1,345 | 1,632 | 1,484 | 1,530 | 1,518 | 1,623 | 1,604 | 1,612 | 1,674 | 2,457 | 1,878 |
| PBT | 8,947 | 7,443 | 986 | 3,124 | 805 | 348 | 3,509 | 4,338 | 5,547 | 5,131 | 5,317 | 7,644 | -18,170 |
| Tax % | 24% | 22% | 28% | 13% | 21% | 59% | 28% | 21% | 26% | 25% | 25% | 21% | -32% |
| Net Profit | 6,766 | 5,827 | 713 | 2,709 | 634 | 143 | 2,544 | 3,415 | 4,111 | 3,859 | 4,011 | 6,065 | -12,265 |
| EPS in Rs | 31.8 | 27.38 | 3.35 | 12.73 | 2.98 | 0.67 | 11.95 | 16.05 | 19.32 | 18.14 | 18.85 | 28.5 | -57.64 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,16,648 | 1,77,910 | 1,87,493 | 2,19,510 | 2,75,491 | 2,69,092 | 2,33,248 | 3,49,913 | 4,40,709 | 4,33,857 | 4,34,106 | 4,41,771 | 4,71,530 |
| Expenses | 2,11,916 | 1,69,575 | 1,76,607 | 2,08,732 | 2,63,963 | 2,63,887 | 2,17,194 | 3,39,669 | 4,47,901 | 4,08,929 | 4,17,658 | 4,11,126 | 4,64,592 |
| Operating Profit | 4,733 | 8,335 | 10,886 | 10,778 | 11,527 | 5,204 | 16,055 | 10,244 | -7,192 | 24,928 | 16,448 | 30,645 | 6,938 |
| OPM % | 2.2% | 4.7% | 6% | 4.9% | 4.2% | 1.9% | 7% | 2.9% | -1.6% | 6% | 3.8% | 7% | 1.5% |
| Other Income | 1,836 | 1,970 | 3,697 | 2,785 | 2,383 | 679 | 2,731 | 3,897 | 3,942 | 3,725 | 2,072 | 3,736 | 4,001 |
| Interest | 1,841 | 723 | 609 | 618 | 786 | 1,139 | 963 | 997 | 2,174 | 2,556 | 3,365 | 3,396 | 3,397 |
| Depreciation | 2,497 | 2,846 | 2,776 | 2,834 | 3,085 | 3,370 | 3,625 | 4,000 | 4,560 | 5,596 | 6,154 | 7,347 | 7,621 |
| PBT | 2,231 | 6,735 | 11,197 | 10,110 | 10,039 | 1,374 | 14,197 | 9,144 | -9,984 | 20,500 | 9,000 | 23,638 | -79 |
| Tax % | 33% | 31% | 26% | 29% | 33% | -92% | 25% | 20% | -30% | 22% | 25% | 24% | — |
| Net Profit | 1,489 | 4,675 | 8,236 | 7,218 | 6,691 | 2,639 | 10,663 | 7,294 | -6,980 | 16,015 | 6,736 | 18,047 | 1,671 |
| EPS in Rs | 6.56 | 20.45 | 36.03 | 31.58 | 29.27 | 11.54 | 48.83 | 34.28 | -32.8 | 75.26 | 31.66 | 84.81 | 7.85 |
| Div. Payout % | 55% | 25% | 37% | 36% | 36% | 56% | 31% | 27% | 0% | 28% | 33% | 29% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 339 | 339 | 1,016 | 1,524 | 1,524 | 1,524 | 1,452 | 1,419 | 1,419 | 1,419 | 2,128 | 2,128 |
| Reserves | 13,585 | 16,325 | 20,055 | 24,008 | 28,876 | 29,456 | 36,628 | 39,985 | 30,844 | 45,502 | 49,016 | 63,428 |
| Borrowings | 36,916 | 22,160 | 22,130 | 21,952 | 28,192 | 44,001 | 43,709 | 48,498 | 70,671 | 66,684 | 70,558 | 55,964 |
| Other Liabilities | 34,905 | 30,729 | 37,127 | 42,197 | 48,762 | 41,935 | 52,438 | 64,774 | 58,452 | 69,188 | 73,067 | 81,544 |
| Total Liabilities | 85,745 | 69,553 | 80,329 | 89,681 | 1,07,354 | 1,16,918 | 1,34,228 | 1,54,676 | 1,61,387 | 1,82,794 | 1,94,770 | 2,03,064 |
| Fixed Assets | 45,425 | 34,086 | 36,876 | 38,695 | 41,642 | 48,952 | 50,912 | 58,126 | 68,387 | 79,763 | 86,179 | 1,00,430 |
| CWIP | 3,950 | 1,914 | 1,867 | 4,011 | 9,519 | 17,170 | 25,336 | 28,907 | 25,607 | 20,078 | 17,967 | 8,033 |
| Investments | 6,113 | 9,185 | 11,773 | 12,882 | 14,297 | 14,396 | 15,093 | 18,867 | 23,689 | 29,540 | 27,046 | 28,012 |
| Other Assets | 30,257 | 24,368 | 29,811 | 34,094 | 41,896 | 36,400 | 42,887 | 48,775 | 43,703 | 53,413 | 63,577 | 66,590 |
| Total Assets | 85,745 | 69,553 | 80,329 | 89,681 | 1,07,354 | 1,16,918 | 1,34,228 | 1,54,676 | 1,61,387 | 1,82,794 | 1,94,770 | 2,03,064 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 19,410 | 6,651 | 10,254 | 11,037 | 8,554 | 5,469 | 17,829 | 15,810 | -3,466 | 23,852 | 14,231 | 36,111 |
| Investing | -5,667 | -4,272 | -5,304 | -7,398 | -11,382 | -14,168 | -12,279 | -13,745 | -11,384 | -13,019 | -10,559 | -11,404 |
| Financing | -14,699 | -3,674 | -4,239 | -4,423 | 2,598 | 8,452 | -4,709 | -2,066 | 16,025 | -16,155 | -4,139 | -22,770 |
| Net Cash Flow | -956 | -1,295 | 712 | -784 | -230 | -247 | 841 | -1 | 1,175 | -5,322 | -467 | 1,936 |
| Free Cash Flow | 13,097 | 1,827 | 4,400 | 4,334 | -2,713 | -8,325 | 6,222 | 3,782 | -12,646 | 13,906 | 4,814 | 27,999 |
| CFO/OP | 427 | 94 | 114 | 121 | 92 | 138 | 131 | 168 | 46 | 97 | 84 | 131 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 7 | 8 | 8 | 9 | 8 | 5 | 11 | 7 | 6 | 8 | 10 | 6 |
| Inventory Days | 29 | 31 | 42 | 35 | 30 | 29 | 53 | 40 | 25 | 32 | 35 | 38 |
| Days Payable | 23 | 22 | 28 | 30 | 25 | 17 | 30 | 30 | 20 | 26 | 28 | 30 |
| Cash Conversion Cycle | 13 | 17 | 21 | 15 | 12 | 17 | 33 | 17 | 11 | 14 | 18 | 14 |
| Working Capital Days | -8 | -9 | -35 | -29 | -25 | -34 | -38 | -29 | -30 | -33 | -35 | -29 |
| ROCE % | 7% | 17% | 29% | 24% | 20% | 5% | 19% | 12% | -8% | 21% | 11% | 22% |
Documents
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Company Information
Hindustan Petroleum Corporation Ltd is mainly engaged in the business of refining of crude oil and marketing of petroleum products, production of hydrocarbons as well as providing services for management of E&P Blocks.[1]