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HINDPETRO - Fundamental Analysis: Financial Health & Valuation

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Rating: 4.1

Last Updated Time : 19 Mar 26, 07:10 pm

Fundamental Rating: 4.1

Stock Code HINDPETRO Market Cap 74,325 Cr. Current Price 349 ₹ High / Low 508 ₹
Stock P/E 4.76 Book Value 244 ₹ Dividend Yield 3.01 % ROCE 11.8 %
ROE 16.9 % Face Value 10.0 ₹ DMA 50 424 ₹ DMA 200 428 ₹
Chg in FII Hold 1.87 % Chg in DII Hold -1.60 % PAT Qtr 4,072 Cr. PAT Prev Qtr 3,830 Cr.
RSI 25.1 MACD -24.4 Volume 95,31,594 Avg Vol 1Wk 1,10,53,823
Low price 324 ₹ High price 508 ₹ PEG Ratio 0.86 Debt to equity 1.16
52w Index 13.7 % Qtr Profit Var 34.7 % EPS 73.4 ₹ Industry PE 13.7

📊 Core Financials

  • Quarterly PAT rose from ₹3,830 Cr. to ₹4,072 Cr. (~6% sequential growth, ~34.7% YoY growth).
  • ROE: 16.9% → solid profitability.
  • ROCE: 11.8% → moderate capital efficiency.
  • Debt-to-equity: 1.16 → relatively high leverage, typical for oil marketing companies.
  • Dividend Yield: 3.01% → attractive shareholder returns.

💹 Valuation Indicators

  • P/E Ratio: 4.76 vs Industry PE 13.7 → undervalued compared to peers.
  • P/B Ratio: 1.43 (Current Price ₹349 / Book Value ₹244) → fairly valued relative to assets.
  • PEG Ratio: 0.86 → valuation supported by earnings growth.
  • Intrinsic Value: Current price below fair value, offering upside potential.

🏢 Business Model & Competitive Advantage

  • Hindustan Petroleum Corporation Limited (HPCL) operates in refining, marketing, and distribution of petroleum products.
  • Business model relies on fuel retailing, refining margins, and government-linked pricing policies.
  • Competitive advantage: Strong distribution network, brand presence, and government backing.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: Attractive near ₹330–₹350 (close to 52-week low, RSI at 25.1 indicates oversold zone).
  • Long-Term Holding: Suitable for investors seeking undervalued PSU exposure with strong dividend yield, though leverage and policy risks remain.


✅ Positive

  • Strong quarterly profit growth (~34.7% YoY).
  • Attractive dividend yield of 3.01%.
  • FII holdings increased (+1.87%), showing foreign investor confidence.

⚠️ Limitation

  • High debt-to-equity ratio (1.16) increases financial risk.
  • ROCE at 11.8% is moderate compared to industry leaders.
  • DII holdings decreased (-1.60%), showing reduced domestic institutional support.

📉 Company Negative News

  • Stock trading below 50 DMA (₹424) and 200 DMA (₹428), indicating bearish momentum.
  • MACD at -24.4 signals weak technical trend.

📈 Company Positive News

  • Quarterly PAT increased from ₹3,830 Cr. to ₹4,072 Cr.
  • FII holdings increased significantly (+1.87%), reflecting foreign confidence.

🌐 Industry

  • Oil & gas industry PE at 13.7, higher than HPCL’s 4.76, showing relative undervaluation.
  • Industry growth driven by rising fuel demand, refining capacity expansion, and government infrastructure push.

🔎 Conclusion

  • Hindustan Petroleum is fundamentally strong with improving earnings and attractive dividend yield.
  • Valuation is highly attractive compared to peers, though debt levels and policy risks must be monitored.
  • Best strategy: Accumulate near ₹330–₹350 and hold long-term to benefit from undervaluation and stable dividend income.

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