HINDUSTAN PETROLEUM CORPORATION LIMITED
Hindustan Petroleum Corporation Limited (HPCL) is a subsidiary of Oil and Natural Gas Corporation with its headquarters in Mumbai. It was incorporated in 1974 after the takeover and merger of erstwhile Esso Standard and Lube India Limited by the Esso. HPCL enjoys over 18% market share in India and has a strong presence in Refining & Marketing of petroleum products in the country. On 24 October 2019, the company became a Maharatna PSU. Company has the second largest share of product pipelines in India with a pipeline network length of 3,775 kms. And has refineries in Mumbai, Vishakhapatnam, Mangalore, Bhatinda, and Rajasthan.
Hindustan Petroleum operates the largest Lube refinery in India with the extensive product portfolio, including oil, natural gas, lubricants, etc. Also, HPCL owns and operates the largest Lube Refinery in India, producing Lube Base Oils of international standards.
HPCL has a vast marketing network consisting of 14 Zonal offices in major cities and 133 Regional Offices facilitated by a Supply & Distribution infrastructure comprising 43 Terminals/TOPS/ Installations, 44 Aviation Fuel Stations, 50 LPG Bottling Plants and 68 Inland Relay/Lube Depots. The customer touch points constitute of 16,868 Retail Outlets, 1,638 SKO/LDO dealers and 6,137 LPG Distributorships, 115 carrying and forwarding agents, 253 Lube distributorships with a customer base of over 8.4 Crore domestic LPG consumers.
Recently, company has repurchased 10,52,74,280 equity shares at a volume-weighted average of Rs 227.76 per equity share price. On 30th March 2021, HPCL has acquired the balance 50% equity stake in ‘HPCL Shapoorji Energy Private Limited (HSEPL)’ from M/s S P Ports Pvt Ltd. with overall future strategy of HPCL to diversify its product portfolio and is an important step in the direction of having a strong presence in the total Natural Gas value chain. Percentage of Natural Gas in the overall energy basket of India is expected to grow from 6% at present to 15% by 2030.
As a responsible corporate, company is contributing to boost World’s Largest Covid Vaccination Drive in India by supplementing the available Cold Chain Equipment infrastructure by providing equipment for storage and transportation of vaccines at four states/UT and encouraging employees and customers who are eligible for Vaccination to get vaccinated at the earliest.
For the quarter ended 31-03-2021, the company has reported a Consolidated Total Income of Rs 85,754.76 Crore, up 9.48% from last quarter Total Income of Rs 78,324.98 Crore and up 19.13% from last year same quarter Total Income of Rs 71,978.62 Crore. Company has reported net profit after tax of Rs 303.83 Crore in latest quarter. The Board of Directors decided to recommend a Final Dividend @ Rs. 22.75 per equity share of Re. 1/- each for the financial year 2020-21.
The results of Q4 were competent.
