23-Oct-2026 07:54:22
HINDPETROGeneral news
UBS on HPCL ; Sell, TP Rs 340
Reported EBITDA of Rs91bn in Q2 FY27, above UBS/ consensus expectations of Rs13/ 2bn, driven by refining outperformance. Reported gross refining margin (GRM) was US$32.2/bbl, above Singapore benchmark (US$18.0/ bbl), possibly aided by elevated inventory gains. Marketing margins for diesel and gasoline remained negative as higher refined product prices were not fully passed through to consumers . For LPG, gross under-recoveries increased to Rs36bn while Rs20bn compensation was received from government during the quarter, leading to cumulative net negative buffer increasing from Rs164bn in Q1 to Rs180bn in Q2FY27.
HINDUSTAN PETROLEUM CORP