Hindustan Petroleum Corporation Limited
HPCL was established in 1974 following the nationalization and amalgamation of Esso Eastern Inc and Lubes India Ltd with the takeover of Caltex Oil Refining (India) Ltd. In January 2018, ONGC acquired 51.11% stake in HPCL from GoI. HPCL is an integra...
Key Metrics
EPS
75.19
Current ratio
0.61
Debt/Equity
2.90
Debt/EBITDA
4.74
Interest coverage ratio
9.02
Operating Cashflow to total debt
0.24
Financials
Pros & Cons
Exclusive on TAP Bonds
Here's what we like about this company and potential risks we have identified.
Pros
Strategic importance of HPCL and continued support from GoI
Established position in the oil refining and marketing sector
Liquidity: Superior
Cons
Exposure to project implementation risk, given the large investment plans
Susceptibility to volatility in crude oil prices
Change in the support philosophy of GoI
Reduction in ONGC’s shareholding below 50%
Higher-than-expected and sustained deterioration in HPCL’s standalone performance
Disclaimer: Tap Bonds gathers data directly from the respective OBPP websites but does not guarantee its accuracy. We do not offer investment advice or endorse the purchase of any securities mentioned, nor do we warrant the reliability of the information collected.
About Hindustan Petroleum Corporation Limited bond.
This comprehensive profile covers key factual information about Hindustan Petroleum Corporation Limited. HPCL was established in 1974 following the nationalization and amalgamation of Esso Eastern Inc and Lubes India Ltd with the takeover of Caltex Oil Refining (India) Ltd. In January 2018, ONGC acquired 51.11% stake in HPCL from GoI. HPCL is an integrated refining and marketing company. It has substantial oil marketing operations, and is the third-largest oil refining and marketing company in India. It operates a refinery in Mumbai, which has installed capacity of 9.5 MTPA, and refinery in Visakhapatnam with installed capacity of 13.7 MTPA taking its total capacity to 23.2 MTPA. The company also has an 11.3 MTPA refinery in Bathinda, Punjab, through a JV with Singapore-based Mittal Energy Investments Pvt Ltd. HPCL is setting up a grass-root greenfield refinery-cum-petrochemical complex, with capacity of 9 MTPA in Barmer through HPCL Rajasthan Refinery Ltd ('CRISIL AA/Stable'), a JV with the Government of Rajasthan. HPCL has a wide distribution and marketing infrastructure network, including a network of cross-country pipelines, terminals, depots and 22,022 retail outlets. EPS in Mar-2024 was 75.19. Current ratio in Mar-2024 was 0.61. Debt/Equity in Mar-2024 was 2.90. Debt/EBITDA in Mar-2024 was 4.74. Interest coverage ratio in Mar-2024 was 9.02. Operating Cashflow to total debt in Mar-2024 was 0.24. Total revenue for Mar-2025(E) was ₹511261.84. Net income for Mar-2025(E) stood at ₹8665.93. Total assets as of Mar-2024 were ₹182,809.89. Operating cash flow for Mar-2024 was ₹23,851.87. The company’s borrowing relationships include Punjab National Bank (₹N/A Cr), Bank of India (₹N/A Cr), Bank of Baroda (₹N/A Cr), Union Bank of India (₹N/A Cr), ICICI Bank Limited (₹N/A Cr), Standard Chartered Bank Limited (₹N/A Cr), Citibank N. A. (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), State Bank of India (₹N/A Cr), UCO Bank (₹N/A Cr), State Bank of India (₹N/A Cr), Union Bank of India (₹N/A Cr), ICICI Bank Limited (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), State Bank of India (₹N/A Cr), ICICI Bank Limited (₹N/A Cr), Union Bank of India (₹N/A Cr), (₹N/A Cr), (₹N/A Cr), HDFC Bank Limited (₹N/A Cr). Peers and comparison entities consist of Hindustan Petroleum Corporation Limited, Reliance Industries Limited, Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited. As of Dec 2024, promoters hold N/A% while others hold N/A% of equity. Key strengths include: Strategic importance of HPCL and continued support from GoI; Established position in the oil refining and marketing sector; Liquidity: Superior; ; . Key risks include: Exposure to project implementation risk, given the large investment plans; Susceptibility to volatility in crude oil prices ; Change in the support philosophy of GoI; Reduction in ONGC’s shareholding below 50%; Higher-than-expected and sustained deterioration in HPCL’s standalone performance. Leadership team details include A K Tiwari (Chief Vigilance Officer), A Tirupati Naidu (Executive Director), Amit Garg (Director - Marketing), Anuj Mehrotra (Executive Director), Bechan Lal (Independent Director), Debashis Chakraverty (Chief General Manager), Ganesh P Gaikwad (Executive Director), Jayant Gupta (Executive Director - Information System), K S Narendiran (Independent Director), Kapil Dhruv (Executive Director), Nagaraja Bhalki (Independent Director), Neelesh Khulbe (Executive Director - Administration), Pankaj Kumar (Government Nominee Director), Pushp Kumar Joshi (Chairman & Managing Director), Rajneesh Narang (Director - Finance & CFO), Ramdarshan Singh Pal (Independent Director), S Bharathan (Director - Refineries), S H Mehdi (Executive Director - HR), Sandeep Maheshwari (Executive Director - Retail), Sanjay Malhotra (Chief Executive Officer), Sunil Singh Yadav (Chief General Manager), Suresh K Shetty (Director - Human Resources), Umesh Chandra Agrawal (Executive Director - Finance), V Murali (Company Secretary & Compliance Officer), V S Agashe (Executive Director), Vimla Pradhan (Independent Director), Vinod Seshan (Government Nominee Director), Vivekananda Biswal (Independent Director). This detailed corporate overview is structured to provide a thorough understanding of all available data points, enhance search visibility, and support investor analysis.