Mumbai | HPCL reports strong FY26 results with higher refinery throughput, sales growth & improved financial strength.

Board recommends Final Dividend of ₹ 19.25 per Equity Share

Hindustan Petroleum Corporation Limited (HPCL) today announced its financial results for the quarter and year ended March 31, 2026. The performance reflects resilient refinery operations, sustained growth in market sales, healthy refining margins and continued progress in improving the company’s financial strengths. It also reflects benefits from multiple initiatives taken by the Company and demonstrates strong performance of Team HPCL.

• 133% increase in Standalone Profit After Tax – FY26 (₹ 17,175 crore)

• 168% increase in Consolidated Profit After Tax – FY26 (₹ 18,047 crore)

• Highest-ever Refinery throughput of 26.04 MMT in FY26 with 3.0% increase YoY

• Steady growth in Marketing with 3.3% increase in Sales volume in FY26 (51.45 MMT)

• Continued focus on financial discipline leading to sharp improvement in standalone Debt

Equity Ratio from 1.38 as on 31st March 2025 to 0.80 as on 31st March 2026

• Robust Gross Refining Margin (GRM) at US$ 8.79 per barrel in FY26

Financial Performance

The company registered an YoY increase in Profit After Tax by 133% for FY26, and by 46% for Q4 FY26.

• Revenue from Operations

o FY26: ₹ 4,78,543 crore (₹ 4,66,346 crore in FY25)

o Q4 FY26: ₹ 1,23,602 crore (₹ 118,334 crore in Q4 FY25)

• Gross Refining Margin (GRM)

o FY26: US$ 8.79 per barrel (US$ 5.74 per barrel in FY25)

o Q4 FY26: US$ 14.27 per barrel (US$ 8.44 per barrel in Q4 FY25)

• Standalone Profit After Tax (PAT)

o FY26: ₹ 17,175 crore (₹ 7,365 crore in FY25)

o Q4 FY26: ₹ 4,902 crore (₹ 3,355 crore in Q4 FY25)

• Consolidated Profit After Tax (PAT)

o FY26: ₹ 18,047 crore (₹ 6,736 crore in FY25)

o Q4 FY26: ₹ 6,065 crore (₹ 3,415 crore in Q4 FY25)

Dividend

The Board of Directors has recommended a Final Dividend of ₹ 19.25 per equity share having face

value of ₹10 for FY 2025-26, subject to approval by the members of the company in the Annual

General Meeting. This final dividend is in addition to the interim dividend paid for the FY 2025-

26 at ₹5.00 per equity share.

Operational Performance

Refining Performance:

• Refineries recorded highest ever crude throughput of 26.04 MMT during FY26, up 3.0%

from 25.27 MMT in FY25. Refineries also achieved highest-ever distillate yield of 75.8%

in FY26.

o Visakh Refinery registered highest-ever crude throughput of 16.04 MMT, operating at

107% of its capacity, and posted its highest-ever distillate yield of 74.5% during FY26

o Mumbai Refinery registered highest-ever crude throughput of 10.00 MMT, operating at

• Refineries recorded crude throughput of 6.43 MMT in Q4 FY26

o Visakh Refinery registered crude throughput of 3.89 MMT operating at 105% of its

capacity.

o Mumbai Refinery registered crude throughput of 2.54 MMT operating at 109% of its

capacity.

• During the quarter, 4 (four) new grades of crude oil were processed by the refineries taking

the total number of grades processed in the year to 52.

Marketing and Sales Performance:

Sales Volume:

• FY26 Sales (including exports): 51.45 MMT (↑3.3% YoY)

o Domestic Sales Growth: 2.6%

o Combined sale of Petrol (MS) and Diesel (HSD): 31.06 MMT (↑2.4% YoY)

o Total LPG sales: 9.41 MMT (↑5.2% YoY)

o Pipeline Throughput: 25.54 MMT

• Q4 FY26 Sales (including exports): 13.0 MMT (↑2.4% YoY)

o Domestic Sales Growth: 2.7%

o Combined sale of Petrol (MS) and Diesel (HSD): 7.83 MMT (↑3.3% YoY)

o Total LPG sales: 2.29 MMT

o Pipeline Throughput: 6.48 MMT

Strategic Investments and Infrastructure Development

• Capex in Q4 FY26: ₹ 4,611 crore; cumulative for FY26: ₹ 15,705 crore – focused on

strengthening refining and marketing infrastructure, including investments in subsidiaries and

joint venture companies to build additional capacities, new business lines and improving

operating efficiencies

• HPCL Rajasthan Refinery Limited (HRRL)

o Crude cut-in at CDU-VDU commenced and 176 TMT crude processed during trial

run in Feb’2026

o Power Purchase Agreement for 350 MW Signed between HRRL and JDVVNL

o Commissioning of PFCC, DHDT and MS Block units in progress

o Crude (Mangla, AMPL) and LPG received in Tanks and bullets during the quarter

o On 20th April’2026, there was a fire in the CDU of the refinery. The fire was promptly brought under control. There was no loss of life or injury to any personnel.

The restoration work is in progress and the commissioning cycle of the refinery shall commence in a couple of weeks.

• HP Aviation refuelling facility commenced at Dinjan Airport, Assam during the quarter, taking total ASF count to 59 Network Expansion and Outreach

• Retail Outlets Commissioned in Q4: 526 (Total: 25,098)

• New LPG Distributors in Q4: 1 (Total: 6,389)

• CGD Network in Q4 FY26:

o 160 inch-km of steel (Total: 14,939 inch-km), and 130 km of MDPE (Total: 7,706 inch-km) pipeline laid

New Initiatives

• Project Samridhi - Accruals under Project Samridhi (the EBITDA improvement program of

the company) during FY26 is ₹ 1,691 Crore (US$ 0.54/bbl)

• As of 31st Match 2026, HP Green R&D Centre (HPGRDC) has filed a total number of 779

patents, out of which 312 have been granted

• HPCL has signed a Sale Purchase Agreement (SPA) with Abu Dhabi Gas Liquefaction

Company (ALNG), a subsidiary of ADNOC Gas, for procurement of LNG for a 10-year term.

Sustainability and Energy Transition

• Renewables

o Onboarded 1 CBG Plant in Q4 under the SATAT Scheme, taking the total no. of plants under the scheme to 18

• Retail Energy Transition (Q4 FY26)

o CNG Outlets added: 75 (Total: 2,253)

o Solarized Retail Outlets added: 829 (Total: 23,824) – 95% of outlets powered by renewables

• MoUs have been signed with UltraTech Cement and Castrol to enable used oil collection,

recycling infrastructure and utilization of re-refined base oil (RRBO) in lubricants, thereby

strengthening the circular economy.

• MoU has been signed by HP Aviation with Akasa Air (SNV Aviation) at Wings India 2026

to collaborate on Sustainable Aviation Fuel (SAF).

• Green H2 Purchase Agreement (GHPA) signed between HPCL & M/s. OCIOR Green Fuels

Pvt. Ltd at the India Energy Week 2026, under the Scheme SIGHT-2B (National Green

Hydrogen Mission).

• Agreement signed with Indian Gas Exchange (IGX) for listing of Regas Capacity at IGX

portal during India Energy Week 2026

• Collaboration with Shell Energy India Pvt. Ltd signed for LNG marketing for heavy-duty

vehicles and sourcing & terminal swapping between Chhara and Hazira

Awards and Accolades

HPCL was bestowed with several awards and recognitions during the Quarter, the major ones

being:

• HPCL was bestowed with FIPI Oil marketing Company of the Year award.

• HPCL was awarded with Golden Peacock Award for Risk Management, 2025 for its

exemplary initiatives and contributions in the field of Risk Management

• HPCL won the Gold Award for ‘Best Integrated Digital Marketing Campaign’ for the ‘HP

Pay Fuel Fest’ at the ACEF (Asian Customer Engagement Forum) Digital Marketing &

Social Media Leadership Summit & Award 2026, under the theme ‘Beyond Engagement:

Driving Growth, Influence & Impact in Digital Era’.