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State-owned Indian oil refining and marketing company, operating refineries and a nationwide network of fuel retail stations.
State-owned Indian oil refining and marketing company, operating refineries and a nationwide network of fuel retail stations.
ONGC, the state explorer, has held the majority since 2018. Earns the refining margin on turning crude into fuel plus a marketing margin on sales through its pump network. Retail fuel prices in India are politically sensitive, which can squeeze marketing margins when crude costs rise.
In one line: A state-owned smaller US refiner/marketer like Phillips 66.
Moat: narrow (regulatory licence, scale, distribution). A state-backed refining and retail network with a wide distribution footprint, though refining margins are commoditized.
Headquarters: Mumbai, India · Founded: 1974 · Employees: 8,256
Size Hindustan Petroleum (HINDPETRO.NS) is an India Energy company (Oil Refining/Marketing) with a market value of $8.67B, the 139th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹387.15 on 6 Nov 2026.
Performance Over six months the shares fell 2.4%, against +4.9% for the median peer and 0.0% for the India market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 16.9% over the last twelve months (peer median +15.6%); the operating margin is 0.2% (peer median 7.4%).
Valuation It trades at 0.3× enterprise value to sales against a peer median of 0.4× (3rd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is +11 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 12.9 points below its cost of capital (13.7% WACC).
Credit Hindustan Petroleum has 1 bond outstanding ($500M), rated Baa3 by the agencies.
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹5.05T | ₹4.40T | ₹4.33T | ₹4.33T | ₹4.34T |
| Revenue growth | — | +2% | 0% | 0% | — |
| Gross profit | ₹237B | ₹413B | ₹259B | ₹339B | -₹25.2B |
| EBITDA | ₹91.5B | ₹321B | ₹160B | ₹242B | -₹117B |
| Net income | ₹14.4B | ₹180B | ₹67.4B | ₹160B | -₹69.8B |
| Free cash flow | n/a | ₹247B | ₹10.1B | ₹106B | -₹151B |
| Capital expenditure | n/a | ₹83.3B | ₹95.8B | ₹101B | ₹94.5B |
| Total debt | ₹739B | ₹560B | ₹706B | ₹667B | ₹707B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Hindustan Petroleum HINDPETRO.NS | $8.67B | -2% | +17% | 0% | 0.3× | 24.7% |
| Indian Oil IOC.NS | $21.9B | 0% | +23% | 7% | 0.4× | -2.3% |
| Bharat Petroleum BPCL.NS | $14.7B | +4% | +22% | 3% | 0.4× | 5.7% |
| Reliance Industries RELIANCE.NS | $189B | -8% | +20% | 11% | 1.8× | 19.1% |
| Mangalore Refinery & Petrochemicals MRPL.NS | $3.26B | +13% | +38% | 6% | 0.3× | -6.0% |
| Chennai Petroleum CHENNPETRO.NS | $2.27B | +34% | +31% | 10% | 0.3× | -12.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HINDPETRO.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.8% | -17.8% | highest of 21 |
| 6-month return | -2.4% | +4.9% | 10th lowest of 21 |
| Distance from 52-week high | -23.9% | -24.9% | 9th highest of 21 |
| Revenue growth (TTM) | +16.9% | +15.6% | 10th highest of 21 |
| Operating margin | 0.2% | 7.4% | 2nd lowest of 21 |
| EV / Sales | 0.3× | 0.4× | 3rd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 24.7% | -10.3% | 2nd most demanding of 15 |
| Growth delivered (Del g) | +13.6% | +12.8% | 7th highest of 15 |
| Hurdle (Req g minus delivered) | +11.1 pp | -23.6 pp | 2nd most demanding of 15 |
| ROIC minus cost of capital | -12.9 pp | +10.4 pp | 2nd lowest of 21 |
| Net debt / EBITDA | 7.7× | 1.3× | 2nd most indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hindustan Petroleum HINDPETRO.NS | India | $8.67B | -2% | +17% | 0% | 0.3× | 24.7% | +13.6% |
| S-Oil 010950.KS | South Korea | $9.00B | -21% | +19% | 10% | 0.3× | n/a | n/a |
| PBF Energy PBF | United States | $8.16B | +65% | +32% | 8% | 0.2× | n/a | n/a |
| Idemitsu Kosan 5019.T | Japan | $9.54B | -9% | -3% | 6% | 0.4× | -12.8% | +12.2% |
| Ampol ALD.AX | Australia | $5.95B | +6% | +15% | 6% | 0.4× | -14.0% | +15.4% |
| SK Innovation 096770.KS | South Korea | $13.4B | -25% | +26% | 9% | 0.2× | n/a | n/a |
| Bharat Petroleum BPCL.NS | India | $14.7B | +4% | +22% | 3% | 0.4× | 5.7% | +14.5% |
| HF Sinclair DINO | United States | $16.7B | +34% | +29% | 14% | 0.5× | -20.0% | +19.1% |
| Delek US DK | United States | $3.92B | +39% | +11% | 6% | 0.6× | -10.1% | +8.0% |
| CVR Energy CVI | United States | $3.83B | +14% | +34% | 11% | 0.5× | -17.9% | +12.8% |
| Eneos 5020.T | Japan | $19.8B | -11% | +2% | 7% | 0.4× | -10.6% | +9.0% |
| Sinopec Shanghai Petrochemical 600688.SS | China | $3.75B | -5% | -4% | 0% | 0.4× | n/a | n/a |
| Cosmo Energy 5021.T | Japan | $3.74B | -10% | 0% | 9% | 0.4× | -18.5% | +3.7% |
| Calumet CLMT | United States | $3.48B | +24% | +13% | 1% | 1.3× | 39.0% | +12.8% |
| Par Pacific PARR | United States | $3.41B | +6% | +29% | 13% | 0.3× | n/a | n/a |
| Icahn Enterprises L.P IEP | United States | $3.38B | -41% | +16% | -7% | 0.7× | n/a | n/a |
| Mangalore Refinery & Petrochemicals MRPL.NS | India | $3.26B | +13% | +38% | 6% | 0.3× | -6.0% | +22.9% |
| DOF DOFG.OL | Norway | $3.24B | -12% | +22% | 26% | 2.1× | 0.9% | +28.0% |
| Neste NESTE.HE | Finland | $23.6B | -5% | +15% | 14% | 1.1× | -6.5% | +10.0% |
| Formosa Petrochemical Corporati 6505.TW | Taiwan | $24.7B | +58% | +2% | 10% | 1.0× | -7.7% | +8.6% |
| Viva Energy VEA.AX | Australia | $3.04B | +19% | -2% | 4% | 0.3× | -15.1% | +18.2% |
Hindustan Petroleum has 1 bond outstanding with $500M face value. The agencies rate it Baa3.