Hindustan Petroleum (BOM:500104)

QUOTE AND NEWS
The Hindu Business Line  Mar 28  Comment 
Hindustan Petroleum Corporation Ltd on Friday launched its premium brand “Club HP Star” at its flagship outlet at Siripuram Junction, according to a press release.
The Economic Times  Mar 1  Comment 
Nishi Vasudeva today became the first woman to head a blue-chip PSU as the Chairman and Managing Director of Hindustan Petroleum Corp Ltd (HPCL).
The Economic Times  Feb 24  Comment 
Hindustan Petroleum Ltd is a 'BUY' call with a target of Rs 264 and a stop loss of Rs 248.
The Hindu Business Line  Feb 6  Comment 
The stock of oil major HPCL is on the brink of breaking through the key resistance at ₹240. Investors with a short-term perspective can consider buying the stock at current levels. After taking su...
The Economic Times  Jan 31  Comment 
Hindustan Petroleum Corporation Ltd is a ‘BUY’ call with a target of Rs 245 and a stop loss of Rs 233.
Reuters  Jan 10  Comment 
Bharat Petroleum Corp and Hindustan Petroleum Corp have started exporting refined products jointly to cut costs and are exploring a similar mechanism for crude oil purchases, a BPCL executive said on Friday.
The Hindu Business Line  Dec 23  Comment 
The transport hub for LPG tanker crew, which is being set up by Hindustan Petroleum Corporation Ltd (HPCL), will be inaugurated in January. Speaking to presspersons on the sidelines of h...
The Hindu Business Line  Dec 18  Comment 
After drifting aimlessly for quite a while, the stock of oil major Hindustan Petroleum Corporation Ltd revved up recently, offering a good buying opportunity for traders. The stock bounced...
The Economic Times  Dec 3  Comment 
HPCL resumed naphtha exports from Mumbai after skipping them for more than two months, Thomson Reuters data showed.
The Economic Times  Nov 12  Comment 
HPCL reported an 86 per cent drop in second-quarter profit after it received lower fuel subsidy and refining margins dropped.
The Hindu Business Line  Nov 12  Comment 





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HPCL

Hindustan Petroleum Corporation Limited (HPCL) is the third largest oil refining and marketing company in India. Apart from the 13 MMTPA (million tonnes per annum) of refining capacity, it has strong retail presence with over 8,500 retail outlets spread across the country. Further, the company has nearly 27 m customers in the fast growing LPG business. The company has stakes in HPCL-Mittal Energy (49%), MRPL (17%), Bhagyanagar Gas (25%) and Aavantika Gas (25%).


During FY09, HPCL’s average gross refining margin was US$ 3.97 per barrel as compared to US$ 6.54 per barrel during FY08. During the year, Mumbai refinery achieved crude throughput of 6.65 m tonnes, while the Visakh refinery achieved a crude throughput of 9.16 m tonnes. In terms of volumes, market sales were 25.39 million metric tonnes during FY09. The company’s refining margin during the fiscal was lower on account of the decline in the global crude oil prices, which resulted in inventory losses. The company faced under recoveries on product prices, which could not be fully passed on to the consumers. Upstream oil companies, i.e. ONGC and GAIL partially compensated for the under recoveries by providing discounts amounting to Rs 71.8 bn, while the Government of India issued oil bonds to the tune of Rs 146.9 bn.


While volume off take is likely to remain robust going forward, the company’s financial performance will depend on crude oil prices, rupee-dollar exchange rates, interest costs and most importantly, government regulations of product prices.


Financial performance: A snapshot

(Rs m)

4QFY08 4QFY09 Change FY08 FY09 Change
Net sales 314,706 253,637 (19.40%) 1,047,038 1,251,379 19.50%
Expenditure 312,538 197,168 (36.90%) 1,031,498 1,218,818 18.20%
Operating profit (EBDITA) 2,168 56,470 15,540 32,561 109.50%
EBDITA margin (%) 0.70% 22.30% 1.50% 2.60%
Other income 3,177 2,167 (31.80%) 11,980 5,202 (56.60%)
Interest 3,009 3,779 25.60% 7,925 20,828 162.80%
Depreciation 2,532 2,545 0.50% 8,508 9,813 15.30%
Profit before tax (196) 52,313 11,087 7,122 (35.80%)
Tax (4,041) 1,273 (262) 1,373
Profit after tax/(loss) 3,845 51,040 11,349 5,750 (49.30%)
Net profit margin (%) 1.20% 20.10% 1.10% 0.50%
No. of shares (m) 339
Diluted earnings per share (Rs) 17
Price to earnings ratio (x) 18


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