Hindustan Petroleum Corporation (HINDPETRO) Q2 25/26 earnings summary

Executive summary

• Achieved H1 FY26 profit of ₹8,201 crore, up 731% year-over-year, surpassing full-year FY25 PAT in just two quarters.

• Over 100 years of operations with a leading position in refining, pipelines, and retail in India.

• Recognized as a Maharatna company with a diversified portfolio across refining, marketing, natural gas, renewables, and R&D.

• Board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, with auditor review confirming no material misstatements.

• Interim dividend of ₹5 per equity share (50% of face value) declared, with record date set for November 6, 2025.

Financial highlights

• Standalone Q2 FY26 revenue: ₹1,10,868.49 crore; net profit: ₹5,118.85 crore; EPS: ₹18.00.

• H1 FY26 standalone net profit: ₹8,201 crore; consolidated H1 FY26 net profit: ₹7,970.23 crore.

• Q2 GRM at $8.8/bbl; H1 FY26 average GRM: $5.95/bbl.

• EBITDA for the last four quarters at ₹28,606 crore; net cash from operating activities (standalone) for H1 FY26: ₹19,099.58 crore.

• Debt reduced from ₹63,323 crore (Mar 2025) to ₹55,808 crore (Sep 2025); standalone debt-equity ratio improved to 1.07.

Outlook and guidance

• Targeting sub-1 debt-equity ratio by FY26 end.

• Refining capacity to increase from 35.8 MMTPA in 2024-25 to 45.3 MMTPA by 2027-28, driven by major projects like HRRL.

• Net zero Scope 1 & 2 emissions targeted by 2040, with ₹60,000 crore investment in emission reduction and energy transition.

• CapEx guidance for FY27-28: ₹12,000–14,000 crore annually, with 30% for refineries, 60% for marketing, and the rest for new businesses.

• No major new CapEx planned until deleveraging is further advanced.