Established in: 1952
Managing Director: Vikas Kaushal
Hindustan Petroleum Corporation Limited (HPCL) is an Indian government-owned company belonging to the petroleum and natural gas industry. The company is a subsidiary of Oil and Natural Gas Corporation (ONGC) and was founded in 1952 with its headquarters in Mumbai, Maharashtra. ONGC is also owned by the Government of India and is under the administration of the Ministry of Petroleum and Natural Gas.
Hindustan Petroleum Corporation Limited was ranked 367th on the Fortune Global 500 list of the world's biggest corporations in 2016. The company was honoured with the status of Maharatna in 2019 by the Government of India.
History of Hindustan Petroleum Corporation Limited
Hindustan Petroleum Corporation Limited was established in 1952 as Standard Vacuum Refining Company in India. After multiple takes, overs and merges, it became Hindustan Petroleum Corporation Limited.
In 2003, the Supreme Court of India ruled that HPCL could not be privatised without Parliament’s approval, as it had been nationalised through specific legislation.
In 2018, ONGC acquired the company by purchasing a 51.11% stake, becoming the majority owner of HPCL.
Business Segments of Hindustan Petroleum Corporation Limited
The following are the business segments of the Hindustan Petroleum Corporation Limited.
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Refining
The company operates major refineries in Mumbai and Visakhapatnam and manages India’s largest Lube Refinery in Mumbai, which produces base oils and 300+ speciality grades of lubricants.
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HP Retail
The company promotes and markets motor fuels such as petrol and diesel, CNG and auto-lubricants across a large network of retail outlets and petrol pumps in India.
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LPG
HP Gas handles the procurement, bottling and distribution of Liquefied Petroleum Gas (LPG) across the nation for domestic and industrial uses.
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Direct Sales
The company markets and sells petroleum products, bitumen solvents and specialised petroleum products in bulk directly to its institutional and commercial clients.
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HP Aviation
The company supplies Aviation Turbine Fuel (ATF) to airline operators at various airports in India.
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Natural Gas
The company oversees the import, regasification, pipeline transportation and City Gas Distribution (CGD) networks.
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Exploration and Production of Crude oil and Natural Gas
The company manages offshore and onshore blocks for discovering and extracting crude oil and natural gas from reserves.
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Petrochemicals
The company manufactures and sells a wide range of petrochemical products.
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Biofuels and Renewables
The company focuses on green energy initiatives and is entering the wind and solar power generations, and developing ethanol and biodiesel facilities.
Subsidiaries of Hindustan Petroleum Corporation Limited
The following are wholly-owned subsidiaries of Hindustan Petroleum Corporation Limited.
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HPCL Biofuels Limited (HBL)
This subsidiary is engaged in the production of sugar, ethanol and cogeneration of power.
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HPCL LNG Limited (HPLNG)
This company handles the regasification of LNG (Liquefied Natural Gas) and the development of terminal infrastructure.
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Prize Petroleum Company Limited (PPCL)
This company is the upstream exploration and production arm of HPCL. Prize Petroleum Company Limited (PPCL) holds stakes in International E&P blocks through Prize Petroleum International Pte Ltd. (PPIPL), its Singapore-based subsidiary.
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HPCL Middle East FZCO
This subsidiary manages HPCL’s international trading and operations in the Middle East region.
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HPCL Renewable & Green Energy Limited (HPRGEL)
This subsidiary leads and oversees the parent company’s initiative in renewable energy, biofuels and green hydrogen.
Hindustan Petroleum Corp Financial Highlights
- Revenue: Hindustan Petroleum Corp reported revenue of ₹4,44,027.46 crore in FY26 vs ₹4,36,194.02 crore in FY25. It showed an increase of 1.80% on a yearly basis.
- Operating Profit: Hindustan Petroleum Corp reported an operating profit of ₹23,638.12 crore in FY26 vs ₹8,999.88 crore in FY25. It showed an increase of 162.65% on a year-on-year basis.
- Net Profit: Hindustan Petroleum Corp reported a net profit of ₹18,046.89 crore in FY26 vs ₹6,735.70 crore in FY25. It showed an increase of 167.93% on a yearly basis.
Hindustan Petroleum Corp Quarterly Result Highlights
- Hindustan Petroleum Corp reported revenue of ₹1,15,557.16 crore in Mar 2026, compared with ₹1,15,759.70 crore in Dec 2025, representing a decrease of 0.17% on a quarter-on-quarter (QoQ) basis.
- Hindustan Petroleum Corp reported an operating profit of ₹7,643.61 crore in Mar 2026, compared with ₹5,316.98 crore in Dec 2025, representing an increase of 43.76% on a quarter-on-quarter (QoQ) basis.
- Hindustan Petroleum Corp reported a profit of ₹6,065.26 crore in Mar 2026, compared with ₹4,011.40 crore in Dec 2025, reflecting an increase of 51.20% on a QoQ basis.
- The earnings per share (EPS) of Hindustan Petroleum Corp stood at ₹31.66 during Mar 2026.
