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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Hindustan Petroleum Corporation
Hindustan Petroleum Corporation (HINDPETRO) investor relations material
Hindustan Petroleum Corporation Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary23 Oct, 2026
Executive summary
Q2 returned to profit after steep Q1 losses, supported by strong refining and sales, improved marketing margins, and cost, working-capital and CapEx controls.
H1 recorded a consolidated net loss of ₹8,639.45 crore; elevated crude prices, disrupted shipping, freight costs and LPG under-recoveries weighed on performance.
Growth priorities include capacity expansion, petrochemicals, digital transformation and green energy, alongside Rajasthan refinery ramp-up.
Financial highlights
Q2 EBITDA was INR 9,822 crore versus a Q1 loss of INR 14,816 crore; management cited a quarter-on-quarter swing of INR 24,681 crore.
Q2 consolidated net profit was ₹3,625.22 crore versus ₹3,859.30 crore YoY; H1 consolidated net loss was ₹8,639.45 crore versus net profit of ₹7,970.23 crore in H1 FY26.
Q2 standalone net profit was ₹3,482.62 crore; H1 standalone net loss was ₹8,043.79 crore, compared with net profit of ₹8,201.24 crore in H1 FY26.
H1 revenue from operations was ₹2,84,267 crore; consolidated total income was ₹2,85,419.41 crore and sale of products was ₹2,83,176.70 crore.
Q2 refinery GRM was $32.15/bbl pre-SAED; H1 average GRM was $27.89/bbl, gross of export cess.
Outlook and guidance
Rajasthan refinery was at 55%-60% utilization; full operations were expected by end-Q3 and an 8-9 MMTPA run rate around December, subject to commissioning and stabilization.
Rajasthan GRM was $12/bbl in Q2; October was $16.1/bbl post-SAED for the first 18 days, with management expecting $20+/bbl after high-sulfur crude starts.
Refining capacity is targeted to rise from 35.8 MMTPA in FY26 to 46.0 MMTPA in FY28, including HRRL’s 9.0 MMTPA refinery-petrochemical complex.
Rajasthan cracker startup is expected in Q4, with most petrochemical benefits expected next financial year; Vizag RUF full benefits are targeted around March, potentially slipping into April.
Net-zero Scope 1 and 2 emissions target is 2040, backed by planned ₹60,000 crore investment; Samriddhi initiatives are expected to meet prior guidance.
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Latest events from Hindustan Petroleum Corporation
- Record earnings and operating volumes, alongside OCC-related funding pressure and major expansion plans.HINDPETRO
Q4 96/97 - Profit fell amid weak demand as deregulation ushered in a more competitive fuel market.HINDPETROQ4 01/02
- Record throughput and stronger margins lifted FY 2002-03 PAT to Rs. 1,537 crore.HINDPETROQ4 02/03
- Record turnover and profit accompanied refinery expansion amid volatile margins and rising competition.HINDPETROQ4 99/00
- Record throughput and profit, alongside major clean-fuel investment and rising competition.HINDPETROQ4 03/04
- Record throughput and refining margins could not offset crude-price and subsidy pressure on profit.HINDPETROQ4 04/05
- Record profit and sales amid refinery disruption and petroleum-market deregulation.HINDPETROQ4 97/98
- FY99 profit rose 28.54% as deregulation lifted refining and marketing margins.HINDPETROQ4 98/99
- Record turnover and strong throughput met a market facing surplus capacity and deregulation.HINDPETROQ4 00/01
Next Hindustan Petroleum Corporation earnings date
Q3 26/2721 Jan, 2027
Hindustan Petroleum Corporation
Next Hindustan Petroleum Corporation earnings date
Q3 26/2721 Jan, 2027
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