Hindustan Petroleum Corporation Ltd, incorporated in the year 1952, is a Large Cap company with a market cap of Rs 39946.32 Crore, operating in Gas & Petroleum sector.
Hindustan Petroleum Corporation Ltd’s key Products/Revenue Segments include Refinery, Rent and Other Operating Revenue for the year ending 31-Mar-2019.
Investment Rationale
Prabhudas Lilladher tweaked its FY22/23E estimates for HPCL, as it incorporates actual FY21 numbers and share buyback. In FY21, core standalone EBIDTA adjusted for inventory and forex gains was at Rs71.2 billion (-30 per cent YoY), due to weak marketing and refining profits.
Prabhudas Lilladher believes that increased crude oil supplies from OPEC and Iran, post lifting of sanctions will likely keep crude oil prices range bound and support marketing margins in medium term. HPCL remains its preferred pick among the OMCs. Prabhudas maintains a buy rating with a target price of Rs 404 (earlier Rs338) on rollover.
Financials
For the quarter ended 31-03-2021, the company has reported a Consolidated Total Income of Rs 75394.63 Crore, up 8.37 per cent from last quarter’s Total Income of Rs 69571.51 Crore and up 13.10 per cent from last year same quarter’s Total Income of Rs 66659.85 Crore. Company has reported a net profit after tax of Rs 3028.36 Crore in latest quarter.
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