Hindustan Petroleum Corporation Limited
Board Meeting Details
The Board of Directors meeting was held on October 22, 2026, commencing at 02:30 p.m. and concluding at 04:40 p.m.
Key Financial Results (Standalone)
Quarter Ended September 30, 2026:
- Total Income: ₹1,39,887.18 crore
- Profit before tax: ₹6,767.65 crore
- Tax Expense: ₹3,285.03 crore (comprising Deferred Tax of ₹3,285.03 crore)
- Net Profit: ₹3,482.62 crore
- Other Comprehensive Income: ₹324.61 crore
- Total Comprehensive Income: ₹3,807.23 crore
- Basic and Diluted EPS: ₹16.37
Quarter Ended June 30, 2026:
- Total Income: ₹1,46,407.30 crore
- Loss before tax: ₹(17,446.10) crore
- Tax Benefit: ₹(5,919.69) crore
- Net Loss: ₹(11,526.41) crore
- Other Comprehensive Loss: ₹(806.35) crore
- Total Comprehensive Loss: ₹(12,332.76) crore
- Basic and Diluted EPS: ₹(54.17)
Quarter Ended September 30, 2025:
- Total Income: ₹1,10,868.49 crore
- Profit before tax: ₹5,118.85 crore
- Tax Expense: ₹1,288.48 crore
- Net Profit: ₹3,830.37 crore
- Other Comprehensive Loss: ₹(122.28) crore
- Total Comprehensive Income: ₹3,708.09 crore
- Basic and Diluted EPS: ₹18.00
Half-Year Ended September 30, 2026:
- Total Income: ₹2,86,294.48 crore
- Loss before tax: ₹(10,678.45) crore
- Tax Benefit: ₹(2,634.66) crore
- Net Loss: ₹(8,043.79) crore
- Other Comprehensive Loss: ₹(481.74) crore
- Total Comprehensive Loss: ₹(8,525.53) crore
- Basic and Diluted EPS: ₹(37.80)
Half-Year Ended September 30, 2025:
- Total Income: ₹2,31,526.14 crore
- Profit before tax: ₹10,944.74 crore
- Tax Expense: ₹2,743.50 crore
- Net Profit: ₹8,201.24 crore
- Other Comprehensive Income: ₹82.72 crore
- Total Comprehensive Income: ₹8,283.96 crore
- Basic and Diluted EPS: ₹38.54
Physical Performance (MMT)
Quarter Ended September 30, 2026:
- Crude Throughput: 6.20
- Domestic Sales: 11.71
- Exports: 1.02
- Pipeline Throughput: 6.99
Half-Year Ended September 30, 2026:
- Crude Throughput: 12.72
- Domestic Sales: 23.95
- Exports: 1.90
- Pipeline Throughput: 13.83
Key Financial Position (Standalone as of September 30, 2026)
- Total Assets: ₹2,05,065.49 crore
- Property, Plant and Equipment: ₹94,502.07 crore
- Capital Work-in-Progress: ₹7,496.06 crore
- Inventories: ₹45,353.93 crore
- Trade Receivables: ₹10,129.15 crore
- Equity Share Capital: ₹2,128.21 crore
- Other Equity: ₹45,259.41 crore
- Total Borrowings: ₹65,458.17 crore (Non-current: ₹29,530.66 crore, Current: ₹35,927.51 crore)
- Trade Payables: ₹37,060.95 crore
Key Financial Ratios (Standalone)
- Debt Equity Ratio: 1.38 times
- Current Ratio: 0.57 times
- Operating Margin: 5.19% for Q2, (3.78%) for H1
- Net Profit Margin: 2.50% for Q2, (2.83%) for H1
Consolidated Financial Results
Quarter Ended September 30, 2026:
- Total Income: ₹1,39,575.40 crore
- Profit before tax: ₹6,820.13 crore
- Tax Expense: ₹3,194.91 crore
- Net Profit: ₹3,625.22 crore
- Total Comprehensive Income: ₹3,913.34 crore
- Basic and Diluted EPS: ₹17.04
Half-Year Ended September 30, 2026:
- Total Income: ₹2,85,419.41 crore
- Loss before tax: ₹(11,349.94) crore
- Tax Benefit: ₹(2,710.49) crore
- Net Loss: ₹(8,639.45) crore
- Total Comprehensive Loss: ₹(8,933.94) crore
- Basic and Diluted EPS: ₹(40.60)
Important Notes
1. Gross Refining Margin: Average GRM for April-September 2026 was US $27.89 per BBL compared to US $5.95 per BBL in corresponding previous period. This is before factoring impact of Special Additional Excise Duty and Road & Infrastructure Cess on export of select petroleum products. Profitability was impacted by suppressed marketing margins on certain petroleum products.
2. LPG Compensation: Ministry of Petroleum & Natural Gas (MoPNG) conveyed compensation of ₹7,920 crore towards under-recoveries on domestic LPG sales up to March 31, 2026, to be disbursed in 12 equal monthly instalments from November 2025. For April-September 2026, six instalments aggregating ₹3,960 crore were recognized under 'Sale of Products'. Cumulative negative buffer (unrecognized) as on September 30, 2026 is ₹18,048.82 crore.
3. Foreign Currency Loss: Other expenses include ₹313.80 crore loss on foreign currency transactions and translations for H1 FY27 (₹798.18 crore in H1 FY26).
4. Auditor Qualifications: Financial results include unreviewed components - Visakh Refinery branch (reviewed by branch auditor), 17 unincorporated Joint Operations based on management certified information, and certain subsidiaries/associates/joint ventures not reviewed by statutory auditors.
5. Governance: The company did not have the required number of independent directors on its Board as stipulated under SEBI Listing Regulations from April 1, 2026 to September 30, 2026.
Auditor Review
The financial results were reviewed by statutory auditors S K Patodia & Associates LLP and Batliboi & Purohit, Chartered Accountants, who issued limited review reports dated October 22, 2026.
Entities Included in Consolidated Results
Subsidiaries: HPCL Biofuels Limited, HPCL Middle East FZCO, Prize Petroleum Company Limited, Prize Petroleum International Pte Ltd., HPCL LNG Limited, HPCL Renewable & Green Energy Limited
Joint Ventures (17 entities): Including HPCL Mittal Energy Limited, Hindustan Colas Private Limited, Bhagyanagar Gas Limited, HPCL Rajasthan Refinery Limited, etc.
Associates (3 entities): Mangalore Refinery and Petrochemicals Limited, GSPL India Gasnet Limited, GSPL India Transco Limited