Hindustan Petroleum Corporation
Petroleum Products F&O
HINDPETRO NSE
₹366.35 No trade today
- P/E
- 46.67
Close 4 Nov 2026 ₹366.35 −106.80 −22.6% 1Y
Start ₹473.15
Key Fundamentals
MidcapPetroleum ProductsEnergyPrice-based figures as of · EPS basis: Consolidated · TTM
- ROCE
- 22.20%
- Debt to Equity
- 0.85
- EPS (TTM)
- ₹7.85
- Book Value
- ₹247.61
- Market Cap
- —
- P/E (TTM)
- 46.67
- P/B
- 1.48
- ROE
- 30.90%
- Dividend Yield
- 6.88%
- EBITDA
- ₹32,889 Cr
- 52W High
- ₹508.45
- 52W Low
- ₹316.20
- Volume
- 0
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
40 Weak
Data confidence 100/100
Category scores
- Quality
- 63
- Good
- Returns, margins, earnings quality 22% weight
- Valuation
- 51
- Average
- Cheap vs sector & own history 24% weight
- Growth
- 41
- Weak
- Sales & profit trajectory 9% weight
- Financial Health
- 12
- Poor
- Solvency, leverage, coverage 9% weight
- Momentum
- 35
- Poor
- Trend strength, vol-adjusted 12% weight
- Ownership
- 19
- Poor
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
5- Company has reduced debt.
- Stock is trading at 1.07 times its book value
- Stock is providing a good dividend yield of 7.32%.
- 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.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Bullish | 6 | 4 | 9 |
| Oscillators | Bearish | 3 | 4 | 2 |
| Moving Averages | Strong Bullish | 3 | 0 | 7 |
Oscillators
Bearish
Bearish
3
Neutral
4
Bullish
2
Overall
Bullish
Bearish
6
Neutral
4
Bullish
9
Moving Averages
Strong Bullish
Bearish
3
Neutral
0
Bullish
7
Key readings
- RSI (14)
- 62.12
- Neutral
- MACD (12,26,9)
- 0.98
- Bullish
- SMA (50)
- 350.71
- Bullish
- SMA (200)
- 383.74
- Bearish
As of
Analyst Rating
Based on 30 analysts
13 of 30 analysts rate Buy, 6 Hold, 11 Sell.
As of
BUY
13
43% HOLD
6
20% SELL
11
37% Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | +9.52% |
|---|---|
| 5Y | +13.63% |
| 3Y | +0.08% |
| 1Y | +1.77% |
| TTM | +9.40% |
Net profit
| 10Y | +14.46% |
|---|---|
| 5Y | +11.10% |
| 3Y | Turned to profit |
| 1Y | +167.92% |
| TTM | −83.65% |
Operating cash flow
| 10Y | +18.43% |
|---|---|
| 5Y | +15.16% |
| 3Y | Turned positive |
| 1Y | +153.75% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | +2.26 pp |
|---|---|
| 5Y | +0.06 pp |
| 3Y | +8.57 pp |
| 1Y | +3.15 pp |
| TTM | −3.41 pp |
Revenue by year
| Mar 2017 | ₹1,87,493 Cr |
|---|---|
| Mar 2018 | ₹2,19,510 Cr |
| Mar 2019 | ₹2,75,491 Cr |
| Mar 2020 | ₹2,69,092 Cr |
| Mar 2021 | ₹2,33,248 Cr |
| Mar 2022 | ₹3,49,913 Cr |
| Mar 2023 | ₹4,40,709 Cr |
| Mar 2024 | ₹4,33,857 Cr |
| Mar 2025 | ₹4,34,106 Cr |
| Mar 2026 | ₹4,41,771 Cr |
Net profit by year
| Mar 2017 | ₹8,236 Cr |
|---|---|
| Mar 2018 | ₹7,218 Cr |
| Mar 2019 | ₹6,691 Cr |
| Mar 2020 | ₹2,639 Cr |
| Mar 2021 | ₹10,663 Cr |
| Mar 2022 | ₹7,294 Cr |
| Mar 2023 | −₹6,980 Cr |
| Mar 2024 | ₹16,015 Cr |
| Mar 2025 | ₹6,736 Cr |
| Mar 2026 | ₹18,047 Cr |
Analyst Forecasts
Forecast For
Dec 26 consensus · EBITDA
₹6,710 Cr −28.8% vs Sep 26
Reported High Mean Low
AI Analysis — Bull vs Bear
Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk high
Hindustan Petroleum Corporation Ltd trades at ₹352.5 as of 2026-11-03 with a market cap of ₹76,516.5 Cr, a P/E of 44.9x, and a dividend yield of 6.97%. The company has delivered strong long-term ROE averaging 22% over ten years but faces a sharp TTM profit decline of -84%, placing it at an inflection point between its historically solid return profile and near-term earnings pressure.
Bull Case 7
- Dividend yield of 6.97% as of 2026-11-03 is significantly above the broader market average, supported by a consistent payout ratio of 29.9%, making the stock attractive for income-oriented portfolios.
- Return on equity of 27.53% as of 2026-11-03 is robust, and the 3-year average ROE of 28% and last-year ROE of 31% indicate the company has consistently generated strong returns on shareholder capital.
- Debt reduction is underway with a current debt-to-equity ratio of 0.85, demonstrating improving balance sheet discipline for a capital-intensive refining and marketing business.
- Compounded profit growth of 14% over ten years and 66% over three years reflects a strong medium-term earnings trajectory despite the recent TTM dip.
- Compounded sales growth of 14% over five years and 9% TTM shows the top line continues to expand, suggesting underlying demand for petroleum products remains healthy.
- The stock trades at a price-to-book ratio of 1.42 as of 2026-11-03, which is relatively modest for a company generating 27.53% ROE, implying the market is not fully pricing in its return-generating capability.
- The stock is down roughly 31% from its 52-week high of ₹508.45, and the 1-year stock CAGR of -29% means much of the earnings disappointment may already be reflected in the current price of ₹352.5.
Bear Case 8
- TTM profit growth has collapsed to -84%, signalling a severe earnings downturn that has sharply compressed EPS to ₹7.85 and inflated the trailing P/E to 44.9x.
- A P/E of 44.9x is elevated for a downstream oil marketing company, suggesting the stock could face further de-rating if earnings do not recover quickly.
- Earnings quality is questionable as other income of ₹4,001 Cr forms a material portion of reported profits, meaning core operating earnings are weaker than headline numbers suggest.
- Low interest coverage ratio indicates that despite debt reduction, the company's operating profits are still stretched relative to its interest obligations, raising financial risk.
- Compounded sales growth over three years is flat at 0%, indicating the top-line expansion seen over five years has stalled in the more recent period.
- ROCE of 23.54% is lower than ROE of 27.53%, and with a debt-to-equity of 0.85 the gap suggests financial leverage is amplifying returns on equity, which becomes a risk if earnings decline further.
- The 10-year stock CAGR of just 5% indicates the company has delivered poor long-term capital appreciation despite periods of strong earnings growth, reflecting the cyclical and policy-dependent nature of the business.
- As a government-controlled oil marketing company, HPCL's margins are sensitive to administered fuel pricing and subsidy policies, which can override fundamental earnings power — a structural risk not captured in financial ratios alone.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
9h ago
TL;DR: Limited recent news flow for HPCL. The only development is a scheduled Q2FY27 earnings call on Oct 23, which may provide clarity on refining margins, marketing performance, and capex updates. Watch for quarterly results to gauge the trend.
Neutral 1
- Q2FY27 earnings call scheduled Oct 14
HPCL will hold a conference call on October 23, 2026, to discuss Q2FY27 results with senior management.
Quarterly Results
₹ Cr| Particulars | 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 (₹) | 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
₹ Cr| Particulars | 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 (₹) | 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
₹ Cr| Particulars | 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
₹ Cr| Particulars | 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
| Particulars | 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% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Hindustan Petroleum insights
63 extracted metrics across FY11–FY27.
Documents
- Q1 FY27 concall · Jul 2026Transcript Recording
- Q4 FY26 concall · May 2026Transcript PPT
- Concall · Mar 2026Recording
- Q3 FY26 concall · Jan 2026Transcript PPT
- Q2 FY26 concall · Oct 2025Transcript PPT
- 22 Oct 2026
- 22 Jul 2026
- 13 May 2026
- 13 Jul 2026
- 20 Nov 2025
- 27 Oct 2025
- 6 Oct 2025
- 30 May 2025
Frequently Asked Questions about Hindustan Petroleum Corporation
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.
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 PE ratio of Hindustan Petroleum Corporation Ltd?
Hindustan Petroleum Corporation Ltd trades at a PE ratio of 46.67 as of 4 Nov 2026, on earnings per share of ₹7.85, against a book value of ₹247.61 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 as of 4 Nov 2026.
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 30.90%. 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.
Website hindustanpetroleum.com
CEO Mr. Vikas Kaushal
Employees 8,049
Listed 17 Jun 1998
Face Value ₹10
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