Unaudited Financial Results for the quarter ended June 30, 2025- Investor Handout
HINDPETRO · price
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HPCL reported Q1 FY26 revenue from operations of Rs 1,20,135 crore, with Profit After Tax of Rs 4,371 crore and EBITDA of Rs 8,124 crore. Profit Before Tax stood at Rs 5,826 crore, while the company booked an exchange fluctuation loss of Rs 72 crore (Rs 39 crore on crude liability and Rs 33 crore on others). Gross Refining Margin (GRM) before export cess came in at US$ 3.08 per barrel. The company operated its refineries at 109% capacity utilization, processing 6.66 MMT of crude, with a distillate yield of 74.4%. Total sales volumes were 13.04 MMT, including 12.26 MMT of domestic sales and 0.78 MMT of exports. Debt level stood at Rs 50,995 crore, with net interest outgo of Rs 694 crore.
Strong operational run-rate with over 100% refinery capacity utilization is a positive for shareholders, but a GRM of US$ 3.08/bbl is on the softer side for a refiner, suggesting limited near-term margin upside. The high debt pile of nearly Rs 51,000 crore and forex losses are watchpoints that may keep stock sentiment cautious in the short term.