Stock in Action – HINDPETRO

Highlights

1. HINDPETRO's share price has gained over 59% year to date in 2024, making it one of the top performers in the Indian market.

2. HINDPETRO's financial performance has shown growth over the past year.

3. HINDPETRO's quarterly earnings report highlighted a decline in net profit in the last quarters reaching ₹634Cr in June

4. For HINDPETRO's stock analyst forecasts positive trends for the future.

5. HINDPETRO's share price moved from ₹380 to ₹424 in October 2024.

6. HINDPETRO stock has outperformed the market, delivering a positive return of over 147% in the past year.

7. HINDPETRO is currently trading at ₹423 showing a 4.25% increase as of 11:30 am on NSE.

8. Hindustan Petroleum Corporation primarily focuses on refining crude oil, marketing petroleum products, producing hydrocarbons and managing exploration and production (E&P) blocks.

9. Analysts have recommended a buy call on Hindustan Petroleum (Hindpetro) with a target price of ₹593.

10. As per the June quarter filings the company has a 54.90% promoter holding, 21.67% DII holding and 14.11% foreign institutional investor (FII) holding.

HINDPETRO Financial

HPCL's net profit for the quarter ending June 2024 dropped by 95.9% year on year to ₹2,459 million down from ₹60,658 million a year earlier. However net sales increased by 1.5% reaching ₹1,209,433 million compared to ₹1,191,623 million in the same period last year.

For the year ending March 2024, HPCL's net profit rose by 329.4% to ₹160,146 million recovering from a net loss of ₹69,802 million in FY23. However the company's revenue fell by 2.2% to ₹4,057,439 million during FY24.

Analyst’s View on HINDPETRO

Analysts are optimistic about Hindustan Petroleum Corporation recommending a buy call with a target price of ₹593. Despite a significant decline in net profit for the quarter ending June 2024 the company's revenue showed resilience with a slight increase. HPCL reported a remarkable recovery for the year ending March 2024 posting a net profit after a previous loss. This positive trend along with a strong market position in refining and petroleum marketing suggests potential growth for investors. As a key player in the energy sector, Hindpetro's prospects are attracting attention from analysts and investors alike.

HINDPETRO Bonus History

BPCL third largest refining company in India by market capitalization has issued bonus shares four times since 2000. In three of those instances, the bonus ratio was 1:1, meaning shareholders received one additional share for each share they owned. The last bonus share announcement was in 2017 with a ratio of 1:2 giving two shares for every share owned.

About HINDPETRO

Hindustan Petroleum Corporation is a leading Indian oil and gas company engaged in refining crude oil, marketing petroleum products and producing hydrocarbons. It plays a crucial role in India's energy sector operating refineries with significant capacities. Hindpetro markets a wide range of products including fuels, lubricants and specialty chemicals. The company is also involved in managing exploration and production (E&P) blocks. With a commitment to sustainability and innovation, Hindpetro aims to enhance energy efficiency and reduce environmental impact making it a vital player in India's transition to a greener energy future.

Conclusion

Hindustan Petroleum Corporation continues to demonstrate resilience and potential in the Indian energy market, evidenced by a 59% increase in share price year to date and a strong recovery in net profit for the fiscal year. While the recent quarterly earnings reflected a decline in net profit, analysts remain optimistic recommending a buy call with a target price of ₹593. With a solid market position, robust product offerings and a commitment to sustainability, Hindpetro is well positioned for future growth making it an attractive investment for those looking to capitalize on opportunities in the energy sector.