I-Sec retains Buy on HPCL., raises target price to Rs 535
ICICI Securities has maintained its Buy call on Hindustan Petroleum Corporation with a revised target price of Rs 535 (earlier Rs 445). The current market price of Hindustan Petroleum Corporation is Rs 382.55. HPCL, incorporated in 1952, is a Large Cap company with a market cap of Rs 80963.65 crore, operating in Gas & Petroleum sector.
ADVERTISEMENT HPCL's key products/revenue segments include Refinery, Rent and Other Operating Revenue for the year ending 31-Mar-2024.
Financials
For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 110206.71 crore, down -.78 % from last quarter Total Income of Rs 111070.31 crore and down -4.27 % from last year same quarter. Total Income of Rs 115124.66 Crore. Company has reported net profit after tax of Rs 3066.59 Crore in latest quarter.
The company's top management includes Mr.Pushp Kumar Joshi, Mr.Vinod Seshan, Mr.Suresh K Shetty, Mr.S Bharathan, Mr.Rajneesh Narang, Mr.Amit Garg, Mr.K S Narendiran, Mr.Nagaraja Bhalki, Mr.Ramdarshan Singh Pal, Mr.Vivekananda Biswal, Mr.Bechan Lal, Mrs.Vimla Pradhan, Mr.Pankaj Kumar. Company has R Devendra Kumar & Associates as its auditors. As on 31-03-2025, the company has a total of 213 crore shares outstanding.
Investment Rationale ICICI Securities believes, at current valuations, HPCL is at an attractive level and does not fully reflect the structural changes in scale and the company?s potential earnings profile over the next three years. The brokerage appreciates that the stabilisation challenges for both Vizag and Rajasthan partly offset the recent strength in the marketing segment driving downgrades to FY26E EPS by 1.1%; however, additional GRMs from residual upgradation at Vizag drives upgrades for FY27E EPS by 4.2% Our revised target price of Rs 535 (earlier Rs 445) factors in a roll forward to FY28E earnings. Our valuation for the company, at ~5.5x of FY28E EV/EBITDA for refining and marketing businesses with listed investments valued at CMP, implies a ~35% upside from CMP. They have reiterated a BUY.
Promoter/FII Holdings
Promoters held 54.9 per cent stake in the company as of 31-Mar-2025, while FIIs owned 12.55 per cent, DIIs 23.46 per cent.
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Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.
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