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Hindustan Petroleum Corporation Limited
(HINDPETRO)
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Rating:59Neutral
Price Target:
₹390.00
▲(2.30% Upside)
Action:Reiterated
Date:08/17/26
The score is primarily supported by improved FY2026 fundamentals (stronger margins, reduced leverage, and better cash generation), but is held back by historical volatility and uneven cash conversion. Technicals are neutral with price below the 200DMA and slightly negative MACD, while valuation is mixed due to a high P/E despite a strong dividend yield.
Positive Factors
Profitability and margin rebound
The FY2026 margin recovery indicates improved earnings power across HPCL’s refining and marketing operations. If supported by sustained utilization, product mix and cost discipline, stronger margins can improve resilience and internal funding capacity.
Negative Factors
High earnings cyclicality
HPCL’s earnings remain exposed to refining margins, crude costs, product prices and demand conditions. The history of losses and uneven profitability means the FY2026 rebound may not translate into stable earnings through a full industry cycle.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability and margin rebound
The FY2026 margin recovery indicates improved earnings power across HPCL’s refining and marketing operations. If supported by sustained utilization, product mix and cost discipline, stronger margins can improve resilience and internal funding capacity.
Read all positive factors
Hindustan Petroleum Corporation Limited (HINDPETRO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹742.61B
Dividend Yield6.84%
Average Volume (3M)513.12K
Price to Earnings (P/E)44.9
Beta (1Y)1.58
Revenue Growth9.39%
EPS Growth-83.64%
CountryIN
Employees8,256
SectorGeneral
Sector StrengthN/A
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)84.81
Shares Outstanding2,127,822,500
10 Day Avg. Volume361,114
30 Day Avg. Volume513,119
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)1.09
Price to Sales (P/S)0.16
P/FCF Ratio2.89
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹335.00Price Target Upside-12.13% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering2
EPS Forecast (FY)-0.78
Revenue Forecast (FY)₹5.16T
Hindustan Petroleum Corporation Limited Business Overview & Revenue Model
Company Description
Hindustan Petroleum Corporation Limited, together with its subsidiaries, engages in the refining and marketing of petroleum products in India and internationally. It operates through Downstream Petroleum and All Other segments. The company offers ...
How the Company Makes Money
HPCL primarily makes money through downstream oil and gas operations, earning revenue from the sale of refined petroleum products and related services. Key revenue streams typically include: (1) Refining and sale of petroleum products: HPCL proces...
Hindustan Petroleum Corporation Limited Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
60
Neutral
Cash Flow
63
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.42T | 4.32T | 4.32T | 4.39T | 3.49T |
| Gross Profit | 456.54B | 348.72B | 424.73B | 101.24B | 247.95B |
| EBITDA | 343.81B | 164.87B | 251.77B | -51.98B | 109.05B |
| Net Income | 180.47B | 67.36B | 160.15B | -69.80B | 72.94B |
Balance Sheet | |||||
| Total Assets | 2.03T | 1.95T | 1.83T | 1.61T | 1.55T |
| Cash, Cash Equivalents and Short-Term Investments | 32.78B | 34.19B | 54.63B | 56.87B | 56.05B |
| Total Debt | 559.64B | 705.58B | 666.84B | 706.71B | 484.98B |
| Total Liabilities | 1.37T | 1.44T | 1.36T | 1.29T | 1.13T |
| Stockholders Equity | 655.56B | 511.44B | 469.21B | 322.63B | 414.04B |
Cash Flow | |||||
| Free Cash Flow | 246.90B | 46.48B | 137.81B | -129.13B | 34.65B |
| Operating Cash Flow | 330.21B | 142.28B | 238.52B | -34.66B | 158.10B |
| Investing Cash Flow | -121.07B | -105.57B | -130.19B | -113.84B | -137.45B |
| Financing Cash Flow | -189.78B | -41.38B | -161.55B | 160.25B | -20.66B |
Hindustan Petroleum Corporation Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ₹238.70B | 5.80 | ― | 3.81% | 33.51% | ― | |
71 Outperform | ₹1.32T | 7.56 | ― | 7.42% | 12.33% | -1.17% | |
70 Outperform | ₹1.91T | 5.52 | ― | 6.10% | 13.47% | 99.32% | |
65 Neutral | ₹322.92B | 10.11 | ― | 2.21% | 23.40% | ― | |
62 Neutral | ₹17.34T | 23.07 | ― | 0.47% | 15.00% | -8.32% | |
59 Neutral | ₹742.61B | 44.92 | ― | 6.84% | 9.39% | -83.64% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:HINDPETRO
Hindustan Petroleum Corporation Limited
354.00
-20.51
-5.48%
IN:BPCL
Bharat Petroleum Corporation Limited
303.00
-1.91
-0.63%
IN:CHENNPETRO
Chennai Petroleum Corporation Limited
1,625.90
919.68
130.23%
IN:IOC
Indian Oil Corp. Ltd.
135.30
-1.37
-1.00%
IN:MRPL
Mangalore Refinery & Petrochemicals Ltd.
181.35
56.29
45.01%
IN:RELIANCE
Reliance Industries Limited
1,275.00
-102.13
-7.42%
Hindustan Petroleum Corporation Limited Corporate Events
HPCL Confirms SEBI-Compliant Dematerialisation of Shares for June Quarter
Jul 9, 2026
Hindustan Petroleum Corporation Limited has reported that its Registrar and Transfer Agent, MUFG Intime India Private Limited, has certified compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the qua...
HPCL urges shareholders to claim unclaimed dividends before IEPF transfer
Jun 18, 2026
Hindustan Petroleum Corporation Limited has notified the stock exchanges that it has sent a communication to shareholders regarding unclaimed dividends and potential transfer of related dividends and shares to the Investor Education and Protection...
HPCL Reshapes Finance Leadership, Appoints K. Vinod as CFO
Jun 1, 2026
Hindustan Petroleum Corporation Limited has announced a senior leadership transition in its finance function following the superannuation of Director–Finance and Chief Financial Officer Rajneesh Narang on May 31, 2026. The Ministry of Petrol...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.