Hindustan Petroleum Corporation Ltd logo

Hindustan Petroleum Corporation Ltd

HINDPETRO NSE

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]

AI Verdict: HOLD Confidence: 5%

HINDPETRO trades at an attractive PE of 4.7x with a 6.11% dividend yield and strong 3-year ROE of 28%, but the stock faces headwinds from a divided analyst consensus (38.71% sell ratings), near-flat revenue growth (2% TTM), and inherent cyclicality in petroleum refining margins. The risk-reward is balanced at current levels.

Key Fundamentals

MidcapRefineries & MarketingPetroleum Products
Market Cap
₹88,517 Cr
Volatility
Moderate
P/E Ratio
4.83
EBITDA
₹28,494 Cr
Return on Equity
34.13%
Debt to Equity
1.4
Book Value
₹308.09
EPS
₹46.45
52W High
₹508.45
52W Low
₹316.2

Technical Indicators

Key Insights

Strengths

4
  • Company has reduced debt.
  • Stock is providing a good dividend yield of 5.87%.
  • 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%

Growth Rate

Revenue Growth
0.79% ↘
Net Income Growth
172.55% ↗
Cash Flow Change
-40.35% ↘
ROE
-61.41% ↘
ROCE
-47.47% ↘
EBITDA Margin (Avg.)
50.59% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 14h ago
HOLD
Risk high

HINDPETRO trades at an attractive PE of 4.7x with a 6.11% dividend yield and strong 3-year ROE of 28%, but the stock faces headwinds from a divided analyst consensus (38.71% sell ratings), near-flat revenue growth (2% TTM), and inherent cyclicality in petroleum refining margins. The risk-reward is balanced at current levels.

Bull Case 8
  • Exceptionally low PE ratio of 4.7x suggests deep value relative to earnings, well below typical market multiples
  • Dividend yield of 6.11% provides significant income cushion and downside protection for investors
  • 3-year ROE of 28% and last year ROE of 31% demonstrate strong capital efficiency and profitability
  • Compounded profit growth of 66% over 3 years indicates a sharp earnings recovery cycle
  • Company has reduced debt, strengthening the balance sheet and lowering financial risk
  • Stock CAGR of 30% over 3 years shows strong medium-term price momentum despite recent -2% 1-year return
  • Price-to-book of 1.29x is reasonable for a company generating 28%+ ROE, suggesting undervaluation
  • Healthy dividend payout ratio of 29.9% is sustainable while still retaining capital for growth
Bear Case 8
  • 38.71% of analysts rate the stock a Sell versus 41.94% Buy, indicating sharply divided opinion and limited conviction
  • Revenue growth is near-stagnant at 2% TTM and 0% over 3 years CAGR, signaling volume and pricing headwinds
  • Stock has delivered -2% return over the past 1 year, underperforming broader markets significantly
  • As a government-controlled oil marketing company, HINDPETRO faces political risk on fuel pricing and subsidy policy
  • Petroleum refining margins are highly cyclical — TTM profit growth of 167% reflects a trough-to-peak swing that may normalize
  • 5-year compounded profit growth of only 11% despite recent surge shows long-term earnings volatility
  • 5-year ROE averages 18% versus last year's 31%, suggesting current profitability is above-trend and may revert
  • Market cap of Rs 85,368 Cr is modest for the sector, limiting institutional interest relative to larger peers like IOCL and BPCL

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Positives 2
  • HRRL refinery resumes production Jun 18

    HPCL's JV HRRL refinery resumed production of BS-VI HSD, LPG, and Petcoke after CDU restoration. BS-VI Motor Spirit production expected to start the following week.

  • ₹19.25 per share final dividend Jun 12

    HPCL announced a final dividend of ₹19.25 per share for FY26, signaling healthy cash distribution to shareholders.

Neutral 4
  • Unclaimed dividend IEPF transfer notice Jun 19

    HPCL urged shareholders to claim unclaimed dividends for FY 2018-19 by September 11, 2026, to avoid automatic share transfer to IEPF Authority.

  • ONGC holds 54.90% stake Jun 6

    ONGC held 1,16,82,68,062 equity shares representing 54.90% of HPCL's total paid-up share capital as on March 31, 2026.

  • Senior leadership changes in June Jun 1

    Executive Directors Sanjay Kumar and Ramesh Krishnan superannuated on June 1, 2026. K S Shetty took additional charge as Director-Finance for three months after CFO Rajneesh Narang retired on May 31.

  • Management at investor conferences May 26

    HPCL senior management attended the BofA India Conference on June 2 and Morgan Stanley India Investment Forum on June 3, 2026 in Mumbai. No UPSI was to be shared.

TL;DR: HPCL's quarter is operationally constructive with the HRRL refinery resuming production and a healthy ₹19.25 per share dividend for FY26. No material headwinds emerged in recent filings, though multiple senior leadership retirements warrant monitoring for execution continuity. The near-term outlook is stable, supported by refining asset ramp-up and strong promoter backing from ONGC at 54.90%.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
1,08,056
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
Expenses
1,02,927
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
Operating Profit
5,130
9,646
8,240
2,160
4,882
2,089
2,296
5,495
5,788
7,461
6,852
6,998
9,211
OPM %
5%
9%
9%
2%
4%
2%
2%
5%
5%
7%
7%
6%
8%
Other Income
1,358
1,299
1,040
791
594
933
526
462
930
507
715
727
1,910
Interest
537
627
590
620
720
733
944
931
757
817
824
734
1,020
Depreciation
1,238
1,371
1,247
1,345
1,632
1,484
1,530
1,518
1,623
1,604
1,612
1,674
2,457
PBT
4,713
8,947
7,443
986
3,124
805
348
3,509
4,338
5,547
5,131
5,317
7,644
Tax %
23%
24%
22%
28%
13%
21%
59%
28%
21%
26%
25%
25%
21%
Net Profit
3,608
6,766
5,827
713
2,709
634
143
2,544
3,415
4,111
3,859
4,011
6,065
EPS in Rs
16.96
31.8
27.38
3.35
12.73
2.98
0.67
11.95
16.05
19.32
18.14
18.85
28.5
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
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
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
4,47,916
4,08,929
4,17,658
4,11,139
Operating Profit
4,733
8,335
10,886
10,778
11,527
5,204
16,055
10,244
-7,207
24,928
16,448
30,633
OPM %
2%
5%
6%
5%
4%
2%
7%
3%
-2%
6%
4%
7%
Other Income
1,836
1,970
3,697
2,785
2,383
679
2,731
3,897
3,957
3,725
2,072
3,749
Interest
1,841
723
609
618
786
1,139
963
997
2,174
2,556
3,365
3,396
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
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
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
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
Div. Payout %
55%
25%
37%
36%
36%
56%
31%
27%
0%
28%
33%
29%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
59,034
69,188
73,067
81,519
Total Liabilities
85,745
69,553
80,329
89,681
1,07,354
1,16,918
1,34,228
1,54,676
1,61,968
1,82,794
1,94,770
2,03,039
Fixed Assets
45,425
34,086
36,876
38,695
41,642
48,952
50,912
58,126
68,387
79,763
86,179
1,00,568
CWIP
3,950
1,914
1,867
4,011
9,519
17,170
25,336
28,907
25,607
20,078
17,967
7,894
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
44,284
53,413
63,577
66,565
Total Assets
85,745
69,553
80,329
89,681
1,07,354
1,16,918
1,34,228
1,54,676
1,61,968
1,82,794
1,94,770
2,03,039
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
19,410
6,651
10,254
11,037
8,554
5,469
17,829
15,810
-3,466
23,852
14,228
36,111
Investing
-5,667
-4,272
-5,304
-7,398
-11,382
-14,168
-12,279
-13,745
-11,384
-13,019
-10,557
-11,404
Financing
-14,699
-3,674
-4,239
-4,423
2,598
8,452
-4,709
-2,066
16,025
-16,155
-4,138
-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
4,809
27,898
CFO/OP
427
94
114
121
92
138
131
168
46
97
84
131
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
37
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
-26
ROCE %
7%
17%
29%
24%
20%
5%
19%
12%
-8%
21%
11%
22%

Shareholding Pattern

As of Mar 2026
Promoters 54.90%
DIIs 19.57%
FIIs 17.27%
Public 6.60%
Others 1.66%
Total 100.00%
  Mar 2021May 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
53.50%
54.90%
54.90%
54.90%
54.90%
54.90%
54.90%
54.90%
54.90%
54.90%
54.90%
54.90%
54.90%
54.90%
54.90%
54.90%
54.90%
54.90%
54.90%
54.90%
54.90%
54.90%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
13.80%
13.22%
14.12%
14.44%
12.55%
13.55%
14.48%
16.36%
17.27%
DIIs
18.86%
18.09%
16.14%
15.86%
15.10%
15.06%
16.35%
17.67%
19.62%
21.41%
21.87%
22.19%
20.79%
22.19%
21.47%
21.66%
21.82%
23.56%
23.17%
22.25%
20.66%
19.57%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.00%
0.00%
0.00%
0.00%
Public
8.59%
8.21%
8.53%
8.40%
7.67%
7.82%
8.14%
8.28%
8.06%
7.58%
7.12%
7.49%
7.45%
7.44%
8.54%
7.46%
7.02%
7.19%
6.69%
6.70%
6.42%
6.60%
Others
19.06%
18.79%
20.43%
20.84%
22.33%
22.22%
20.61%
19.14%
17.41%
16.10%
16.11%
15.41%
16.85%
1.65%
1.85%
1.84%
1.81%
1.78%
1.69%
1.67%
1.66%
1.66%
No. of Shareholders
0
3,13,519
2,91,883
3,23,878
3,55,262
3,47,390
3,95,022
4,14,414
4,18,925
3,85,562
3,62,395
3,69,816
3,48,805
4,03,658
5,11,887
5,23,882
5,08,493
5,26,754
4,95,629
4,79,905
4,62,640
5,00,343

Documents

1
Concall - Mar 2026 Mar 2026
2
Concall - Jun 2017 Jun 2017
3
Concall - May 2018 May 2018
4
Concall - Dec 2018 Dec 2018
5
Concall - Jun 2019 Jun 2019

Frequently Asked Questions about Hindustan Petroleum Corporation Ltd

What does Hindustan Petroleum Corporation Ltd do?
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]
Where is Hindustan Petroleum Corporation Ltd (HINDPETRO) listed?
Hindustan Petroleum Corporation Ltd is listed on the Indian stock exchanges. It is listed on NSE: HINDPETRO and BSE: 500104. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Hindustan Petroleum Corporation Ltd belong to?
Hindustan Petroleum Corporation Ltd operates in the Energy sector within the Petroleum Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Hindustan Petroleum Corporation Ltd?
Hindustan Petroleum Corporation Ltd has a market capitalisation of approximately ₹88517.42 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Hindustan Petroleum Corporation Ltd?
The Price-to-Earnings (PE) ratio of Hindustan Petroleum Corporation Ltd is 4.83. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Hindustan Petroleum Corporation Ltd?
Over the past 52 weeks, Hindustan Petroleum Corporation Ltd has traded between a low of ₹316.2 and a high of ₹508.45. This range helps investors understand the stock's price volatility and recent trading levels.
Does Hindustan Petroleum Corporation Ltd pay dividends?
Yes, Hindustan Petroleum Corporation Ltd has a dividend yield of 5.87%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Hindustan Petroleum Corporation Ltd?
Hindustan Petroleum Corporation Ltd has a Return on Equity (ROE) of 34.13%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Hindustan Petroleum Corporation Ltd on Tapetide?
On Tapetide, you can view Hindustan Petroleum Corporation Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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]

Website hindustanpetroleum.com
CEO Mr. Vikas Kaushal
Employees 8,049
Listed 1998-06-17
Face Value ₹ 10
Issued Size 2,12,78,22,518

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