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Hindustan Petroleum Corporation
Hindustan Petroleum Corporation (HINDPETRO) investor relations material
Hindustan Petroleum Corporation Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 25/26 earnings summary22 Jan, 2026
Executive summary
Commissioned the RUF project at Visakh using LC-MAX technology, marking a global first in deep conversion and targeting 93% conversion.
Barmer refinery commissioning is underway, with first products expected in February and full ramp-up by Q1 next year; petrochemicals to follow a quarter later.
Signed a 10-year, 5 MTPA Brent-linked gas supply agreement with ADNOC, enhancing long-term feedstock security.
Over 100 years of operations with a diversified portfolio in refining, marketing, natural gas, renewables, and R&D, holding Maharatna status.
Largest lube refinery in India, second largest retail network, and significant LPG market share.
Financial highlights
Q3 FY26 standalone net profit was ₹4,072.49 crore, up from ₹2,569.19 crore in Q3 FY25; nine-month net profit was ₹12,273.73 crore, up from ₹4,101.92 crore year-over-year.
FY 2024-25 revenue from operations reached ₹4,66,346 crore, with highest ever refinery throughput (25.3 MMT), pipeline throughput (26.9 MMT), and market sales (49.8 MMT).
Refinery throughput at 6.38 MMT in Q3 FY26, 103% utilization; GRM at $8.85/bbl, impacted by Mumbai refinery incident.
Significant cash generation (~INR 25,000 crore) enabled deleveraging; leverage reduced from 1.37x to 0.86x.
EBITDA for FY 2024-25 stood at ₹16,772 crore, with net worth at ₹49,753 crore.
Outlook and guidance
Refining capacity to increase from 35.8 MMTPA in 2024-25 to 45.3 MMTPA by 2027-28, driven by HRRL and HMEL expansions.
Expect full benefits from Visakh and Barmer projects to flow into P&L in FY27–28.
Net zero Scope 1 & 2 emissions targeted by 2040, with ₹60,000 crore investment planned for emission reduction.
CapEx for FY26 expected to be slightly below INR 15,000 crore budget, with future investments spread across refining, marketing, and new energy.
Samriddhi 2.0 efficiency program to launch, targeting deeper operational improvements with external support.
LPG compensation: future recognition plan?
What caused the rise in FX losses?
Quantify crude quality issue impact
Post-HRRL/Visakh, what is HPCL's refined product strategy?
How will Samriddhi 2.0 and digital drive future margins?
What is the timeline for LNG/CGD to be cash flow positive?
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Next Hindustan Petroleum Corporation earnings date
Q4 25/266 May, 2026
Hindustan Petroleum Corporation
Next Hindustan Petroleum Corporation earnings date
Q4 25/266 May, 2026
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