Hindustan Petroleum logo

Hindustan Petroleum

HINDPETRO NSE

Key Fundamentals

MidcapRefineries & MarketingPetroleum Products
Market Cap
₹72,495 Cr
Volatility
Moderate
P/E Ratio
44.84
EBITDA
₹32,889 Cr
Return on Equity
27.53%
Debt to Equity
0.85
Book Value
₹308.09
EPS
₹46.45
52W High
₹508.45
52W Low
₹316.2

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

5
  • Company has reduced debt.
  • Stock is trading at 1.14 times its book value
  • Stock is providing a good dividend yield of 6.89%.
  • 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

Revenue Growth
1.8% higher than 3Y
Net Income Growth
168% higher than 3Y
Cash Flow Change
154% higher than 3Y
ROE
109% higher than 3Y
ROCE
87.42% higher than 3Y
EBITDA Margin (Avg.)
73.54% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

Hindustan Petroleum Corporation Ltd has a market cap of ₹72,495 Cr and trades at a P/E of 45.1x while its P/B ratio remains low at 1.15x. The company delivered a 31% ROE last year but TTM profit has declined 84%, and it offers a dividend yield of 6.88% — among the highest in the sector.

Bull Case 7
  • Strong ROE track record with 3-year average ROE of 28% and last year ROE of 31%, indicating efficient capital utilization for a refining PSU
  • Attractive dividend yield of 6.88% with a consistent payout ratio of 29.9%, providing meaningful income to shareholders
  • Stock trades at just 1.15x book value, well below many private-sector peers, offering a valuation cushion
  • Company has actively reduced debt on its balance sheet, improving financial flexibility for future capex cycles
  • Compounded sales growth of 14% over 5 years and 10% over 10 years reflects steady top-line expansion in line with India's fuel demand growth
  • 3-year stock CAGR of 28% demonstrates significant re-rating from historically depressed levels
  • Compounded profit growth of 14% over 10 years and 66% over 3 years shows earnings recovery potential when macro conditions are favorable
Bear Case 8
  • TTM compounded profit has declined 84%, signaling a severe earnings contraction in the most recent period
  • P/E of 45.1x is elevated for a cyclical refining and marketing company, suggesting the stock prices in a recovery that has not yet materialized in earnings
  • Low interest coverage ratio indicates that debt servicing costs consume a significant portion of operating profits, raising financial risk
  • Earnings quality is weakened by an other income component of ₹4,001 Cr, meaning core operating profit is materially lower than reported
  • 1-year stock CAGR of -11% reflects recent negative market sentiment and declining near-term fundamentals
  • Compounded sales growth over 3 years is flat at 0%, indicating stagnation in revenue despite broader economic expansion
  • As a government-controlled oil marketing company, HPCL remains exposed to administered pricing risk where fuel price hikes may be delayed for political reasons, compressing margins
  • 10-year stock CAGR of only 7% highlights that long-term wealth creation has been modest relative to broader market indices

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

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Positives 1
  • ₹19.25 dividend at 74th AGM Aug 26

    HPCL declared a final dividend of ₹19.25 per share at its 74th AGM on August 26. The meeting also approved reappointment of K S Shetty and appointment of three new directors.

Neutral 4
  • Independent ESG rating disclosed Sep 10

    HPCL disclosed an ESG rating assigned by ESG Risk Assessments & Insights Limited on September 10. The company clarified it did not engage the agency for the assessment.

  • Analyst/investor meeting Sep 11 Sep 3

    HPCL scheduled an analyst and investor meeting for September 11 at 2:00 pm, offering direct interaction with management.

  • Statutory auditors continue unchanged Sep 8

    HPCL confirmed continuance of its existing statutory auditors as advised by C&AG on September 8 under Section 139.

  • Two senior executives depart Sep 1

    ED Subodh Batra retired on September 1 due to superannuation, and ED Amol Taori resigned on August 17 to join Power Grid Corporation of India.

TL;DR: HPCL's recent news flow is largely routine corporate governance activity with no material operational or financial developments. The ₹19.25 per share dividend signals healthy shareholder returns. The departure of two Executive Directors bears watching for leadership continuity but is not unusual for a large PSU. The upcoming analyst meet on September 11 could provide forward-looking clarity on margins and capex plans.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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%
—
Figures in ₹ Crores

Balance Sheet

Particulars 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
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
Figures in ₹ Crores

Cash Flow

Particulars 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
14,231
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
Figures in ₹ Crores

Ratios

Particulars 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
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%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others1.72%Promot.54.90%Public6.95%FIIs13.58%DIIs22.85%As ofJun 2026

Documents

Frequently Asked Questions about Hindustan Petroleum

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 trades as HINDPETRO on the NSE and under code 500104 on the BSE.
Which sector does Hindustan Petroleum Corporation Ltd belong to?
Hindustan Petroleum Corporation Ltd is classified under the Petroleum Products sector, in the Refineries & Marketing industry.
What is the market capitalisation of Hindustan Petroleum Corporation Ltd?
Hindustan Petroleum Corporation Ltd has a market capitalisation of ₹72,495 Cr, which places it in the Large Cap band.
What is the PE ratio of Hindustan Petroleum Corporation Ltd?
Hindustan Petroleum Corporation Ltd trades at a PE ratio of 44.84, on earnings per share of ₹46.45, against a book value of ₹308.09 per share.
What is the 52-week high and low of Hindustan Petroleum Corporation Ltd?
Over the last 52 weeks Hindustan Petroleum Corporation Ltd has traded between ₹316.2 and ₹508.45.
Does Hindustan Petroleum Corporation Ltd pay dividends?
Hindustan Petroleum Corporation Ltd has a dividend yield of 6.88%.
What is the Return on Equity (ROE) of Hindustan Petroleum Corporation Ltd?
Hindustan Petroleum Corporation Ltd reported a return on equity of 27.53%. Its debt-to-equity ratio is 0.85.

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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