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Revenue
₹1,14,937 Cr
verified against source
Revenue YoY
4.5%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
HPCL delivered a strong Q4 FY26 with standalone PAT of ₹4,901 crore (+46% YoY), driven by robust Jan-Feb momentum and lagged crude benefits in March. Full-year standalone PAT of ₹17,175 crore (133% YoY) was 17% above the previous best. Key drivers included cost savings of ₹1,691 crore under the Samriddhi program, tight working capital management reducing debt by ₹15,724 crore to ₹47,599 crore, and lower interest costs. The Barmer refinery (HRRL) commissioning was delayed by a minor fire but is expected to achieve COD shortly, with ramp-up to 60% capacity in June. The new RFCC unit at Mumbai refinery is stabilizing after catalyst clogging issues. However, Q1 FY27 is expected to be very tough due to high crude prices and product price caps, with management acknowledging losses but declining to quantify. The key risk is prolonged geopolitical turmoil further squeezing margins and delaying the recovery of marketing losses.
Colored figures show movement against the previous available record.
Guidance to track
- Expect to achieve COD shortly, operate at 60% capacity in June, full ramp-up from Q2.
- After catalyst clogging, unit is back on stream; full benefits expected from end of Q1 or Q2.
- Management guided that Q1 will be very tough with losses due to high crude and low product prices.
- Projected capex slightly lower than FY26; discretionary spends deferred; committed capex continues.
Risks flagged
- Continued supply disruptions and high crude prices could deepen losses and delay recovery.
- LPG loss per cylinder rose from ₹84 in Q4 to ₹170 in April and ₹670 in May, straining finances.
- Fire incident on April 20 delayed commissioning; any further setbacks could impact self-sufficiency.
- Management declined to quantify daily loss rate, leaving uncertainty for investors.
Key quotes
- We are fully secured on the crude supply, we are very comfortable on the supply side.
- In this moment of crisis, there were three oil companies who were standing with the Indian consumers. They were the three OMCs.
- We are not going to give any forward-looking guidance on this because it's just too volatile to give a guidance.
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