Hindustan Petroleum Corporation Ltd share Price Today

Hindustan Petroleum Corporation (HPCL) is one of India’s largest public sector refining & marketing companies.

• The company operates more than 19000 retail outlets
• Petrol & diesel together historically contributed more than 60% of total sales

HPCL’s results were above our estimates on the profitability front.

• Revenue was up 30.3% YoY (down 6% QoQ) to ₹ 114172.3 crore (I-direct estimate: ₹ 105392.3 crore). Product sales grew 12.3% YoY (down 5.6% QoQ) to 9.9 MMT
• Reported GRMs were at US$8.4/bbl while throughput was up 77.5% YoY (down 6.7% QoQ) to 4.5 MMT. EBITDA loss was at ₹ 1497.9 crore (I-direct estimated EBITDA loss: ₹ -4333.9 crore). HPCL received a one-time grant of ₹ 5617 crore from the Government of India for under-recoveries on sale of domestic LP
• Subsequently, net loss was at ₹ 2172.1 crore (I-direct estimated loss:₹ 4079.8 crore)

Hindustan Petroleum Corporation announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

• The Standalone PAT for the period Jan-Mar 2024 is Rs 2,843 crore, registering an increase of 437% over PAT of Rs 529 crore reported during the previous quarter Oct-Dec 2023.
• The Company has reported Revenue from operations of Rs 1,21,532 crore for the Q4FY24, registering an increase of 6.2% over Revenue from operations of Rs 1,14,445 crore reported for the corresponding quarter of the previous year.
• Average GRMs (Gross of export duty) for the Q4FY24 were USD 6.95 per barrel, compared to USD 14.01 per barrel during the corresponding period of the previous year.

FY24 Financial Highlights:

• Hindustan Petroleum Corporation Limited (HPCL) has reported a record Consolidated Profit after Tax (PAT) of Rs 16,015 crore during FY24 (Consolidated Net Loss of Rs 6,980 crore during the previous financial year).
• The Standalone PAT during FY24 was also the highest ever at Rs 14,694 crore (Standalone Net Loss of Rs 8,974 crore during the previous financial year).
• For the FY24, the Revenue from operations stood at Rs 4,61,638 crore (Rs 4,66,192 crore during the previous year).
• The Average GRMs (Gross of export duty) for the FY24 were USD 9.08 per barrel (USD 12.09 per barrel during the previous financial year).
• The Board of Directors has recommended issue of bonus shares in the ratio 1:2 i.e., one new bonus equity share of Rs 10 each for every two existing equity shares of Rs 10 each fully paid up, subject to the approval of members of the company.
• The Board of Directors has recommended a Final Dividend of Rs 16.50 per equity share having face value of Rs 10 (pre-bonus), which translates into final dividend of Rs 11.00 per equity share having face value of Rs 10 (post-bonus) for FY24.

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