Hindustan Petroleum Corporation (HINDPETRO) Q4 25/26 earnings summary

Executive summary

• Achieved record annual standalone PAT of INR 17,175 crore, up 133% year-over-year, and consolidated PAT of INR 18,047 crore, surpassing previous bests by 17%.

• Highest-ever refinery throughput (26.0 MMT) and market sales (51.4 MMT) in FY 2025-26.

• Over 100 years of operations with a diversified portfolio in refining, marketing, natural gas, renewables, and R&D.

• Strong infrastructure expansion, including pipeline network, retail outlets, and renewable energy projects.

• Final equity dividend of ₹19.25 per share recommended, in addition to an interim dividend of ₹5 per share paid earlier.

Financial highlights

• Standalone total income for FY 2025-26: ₹4,81,234.01 crore; consolidated total income: ₹4,81,122.12 crore.

• Standalone PAT for FY26: INR 17,175 crore (up 133% YoY); consolidated PAT: INR 18,047 crore.

• Average Gross Refining Margin (GRM) for FY 2025-26: US$8.79/bbl vs US$5.74/bbl previous year.

• Return on Capital Employed (ROCE) improved to 22.4% in FY 2025-26.

• Cost takeout program delivered INR 1,691 crore in savings (INR 947 crore one-time, INR 744 crore recurring).

Outlook and guidance

• Q1 FY27 expected to be loss-making due to expensive crude and low product prices; no forward guidance provided due to volatility.

• Refining capacity to increase from 35.8 MMTPA in 2025-26 to 45.3 MMTPA by 2027-28.

• Major investments in renewables, biofuels, natural gas, and petrochemicals planned.

• Targeting 2x EBITDA growth by FY 2028 through capacity expansion and operational excellence.

• Net Zero investment of ₹60,000 crore by 2040, focusing on emission reduction levers.