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Hindustan Petroleum Corporation Limited
(HINDPETRO)
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Rating:67Neutral
Price Target:
₹444.00
▲(19.69% Upside)
Action:Reiterated
Date:05/15/26
The score is primarily driven by improved FY2026 financial performance (stronger margins, earnings, and cash flow with lower leverage) and very attractive valuation (low P/E and solid dividend). This is tempered by mixed technicals, as the stock remains below key long-term moving averages despite neutral-to-positive momentum indicators.
Positive Factors
Integrated downstream model & distribution
HPCL's integrated refining and marketing model plus a nationwide retail and bulk distribution network provides durable scale and margin capture. Vertical integration supports steady volumes, diversified demand across retail, industrial and LPG channels, and resilience to localized demand shocks.
Negative Factors
Earnings & cash volatility
Historic volatility in earnings and cash conversion indicates earnings are sensitive to commodity swings and inventory effects. Persistent variability undermines predictable funding for capex and dividends, complicates long-term planning, and raises the probability of profit compressions in adverse cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated downstream model & distribution
HPCL's integrated refining and marketing model plus a nationwide retail and bulk distribution network provides durable scale and margin capture. Vertical integration supports steady volumes, diversified demand across retail, industrial and LPG channels, and resilience to localized demand shocks.
Read all positive factors
Hindustan Petroleum Corporation Limited (HINDPETRO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹823.68B
Dividend Yield3.26%
Average Volume (3M)211.80K
Price to Earnings (P/E)4.6
Beta (1Y)1.60
Revenue Growth1.77%
EPS Growth167.91%
CountryIN
Employees8,325
SectorGeneral
Sector StrengthN/A
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)84.81
Shares Outstanding2,127,822,500
10 Day Avg. Volume297,141
30 Day Avg. Volume211,797
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
₹275.00Price Target Upside-25.87% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering1
EPS Forecast (FY)-2.81
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 two integrated downstream segments: (1) refining and (2) marketing/petroleum product sales. In refining, HPCL purchases crude oil and processes it at its refineries into higher-value refined products (e.g., petro...
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 Technical Analysis
Negative
370.95
Price Trends
388.13
Negative
388.36
Negative
420.57
Negative
Market Momentum
3.00
Positive
46.56
Neutral
33.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HINDPETRO, the sentiment is Negative. The current price of 370.95 is below the 20-day moving average (MA) of 395.41, below the 50-day MA of 388.13, and below the 200-day MA of 420.57, indicating a bearish trend. The MACD of 3.00 indicates Positive momentum. The RSI at 46.56 is Neutral, neither overbought nor oversold. The STOCH value of 33.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HINDPETRO.
Hindustan Petroleum Corporation Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹407.78B | 10.62 | ― | 3.58% | -14.69% | -1.51% | |
76 Outperform | ₹164.95B | 5.38 | ― | 0.55% | 7.22% | 1349.42% | |
73 Outperform | ₹1.94T | 4.52 | ― | 4.90% | 3.47% | 209.60% | |
68 Neutral | ₹1.32T | 5.10 | ― | 4.73% | 3.40% | 93.77% | |
67 Neutral | ₹823.68B | 4.62 | ― | 3.26% | 1.77% | 167.91% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | ₹259.74B | 13.63 | ― | 2.04% | -6.35% | 3324.95% |
* General Sector Average
IN:HINDPETRO
Hindustan Petroleum Corporation Limited
392.20
-33.30
-7.83%
IN:BPCL
Bharat Petroleum Corporation Limited
308.25
-20.90
-6.35%
IN:CHENNPETRO
Chennai Petroleum Corporation Limited
1,121.95
394.07
54.14%
IN:IOC
Indian Oil Corp. Ltd.
138.35
-4.50
-3.15%
IN:MRPL
Mangalore Refinery & Petrochemicals Ltd.
149.65
7.16
5.02%
IN:PETRONET
Petronet Lng Limited
277.00
-17.24
-5.86%
Hindustan Petroleum Corporation Limited Corporate Events
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...
HPCL posts record FY26 profits, higher throughput and lower leverage
May 13, 2026
Hindustan Petroleum Corporation Limited reported strong financial results for the year ended March 31, 2026, driven by resilient refinery operations, sustained growth in market sales, and robust refining margins. The board has recommended a final ...
HPCL Posts Q4 FY26 Investor Presentation Ahead of Conference Call
May 13, 2026
Hindustan Petroleum Corporation Limited notified the stock exchanges that it will host an investor conference call on May 13, 2026, at 2:00 p.m. IST. The company has made the related investor presentation for the fourth quarter of fiscal year 2025...
HPCL Wins Approval for Major Cost Revision of Rajasthan Refinery Project
Apr 17, 2026
Hindustan Petroleum Corporation Limited announced that India’s Ministry of Petroleum Natural Gas has approved a substantial revision in the capital cost of the HPCL Rajasthan Refinery Limited project, raising the estimate from Rs 43,129 cro...
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.