India · Delayed Price · Currency is INR Hindustan Petroleum Corporation Earnings Call Transcripts
Fiscal Year 2026
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Q3 profit rose 32.6% year-over-year to INR 4,072 crore, with strong retail-driven sales and significant deleveraging. Major projects at Visakh and Barmer are on track, and a 10-year ADNOC gas deal was finalized. Operational efficiencies and digital initiatives are set to drive future growth.
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H1 profit surged 731% year-over-year to INR 8,201 crore, with strong operational and financial performance, improved debt metrics, and robust project execution. Management targets sub-1 debt-equity and INR 40,000 crore EBITDA, with new projects set to boost future earnings.
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Refining throughput and sales volumes rose sharply year-over-year, driving a strong jump in EBITDA and profit. Operational efficiency programs and project completions are set to further boost performance, while debt reduction remains a key focus.
Fiscal Year 2025
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Q4 and FY25 saw record refining and marketing volumes, with PAT up 18% year-over-year and strong cash generation. Major projects like Barmer refinery and Visakh upgradation are set to drive future growth, while debt reduction and market share gains remain key priorities.
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Q3 FY25 delivered a sharp profit rebound with strong operational metrics, higher sales volumes, and robust capacity utilization. Major projects are nearing completion, with incremental margin gains expected from new units and modernization.
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Revenue grew 8.2% year-over-year to INR 1,08,216 crore, but PAT was impacted by suppressed marketing margins, lower GRMs, and inventory losses. Major projects like Rajasthan and Visakh refineries are nearing completion, with significant CapEx and expansion in renewables and LNG underway.
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Revenue and throughput hit record highs despite margin pressures and LPG under-recoveries. Major projects, including refinery expansions and LNG terminal, are on track, supporting a robust EBITDA outlook of INR 40,000 crore by FY 2028. Debt levels to remain stable as new capacities drive growth.