Prolonged geopolitical crisis
Continued supply disruptions and high crude prices could deepen losses and delay recovery.
HINDPETRO / Q4-FY26 / risks
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HPCL · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
LPG under-recoveries escalating
LPG loss per cylinder rose from ₹84 in Q4 to ₹170 in April and ₹670 in May, straining finances.
Barmer refinery startup delays
Fire incident on April 20 delayed commissioning; any further setbacks could impact self-sufficiency.
No forward guidance on losses
Management declined to quantify daily loss rate, leaving uncertainty for investors.