HPCL Q4 Review - Best Placed For Sector Upturn: Prabhudas Lilladher
The Hindustan Petroleum Corp. logo is displayed at a gas station in New Delhi, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

HPCL Q4 Review - Best Placed For Sector Upturn: Prabhudas Lilladher

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Prabhudas Lilladher Report

We tweak our FY22/23E estimates for Hindustan Petroleum Corporation Ltd., as we incorporate actual FY21 numbers and share buyback.

In FY21 core standalone Ebitda adjusted for inventory and forex gains was at Rs 71.2 billion (down 30% YoY), due to weak marketing and refining profits.

We believe that increased crude oil supplies from Organization of the Petroleum Exporting Countries and Iran, post lifting of sanctions will likely keep crude oil prices range bound and support marketing margins in medium term.

Also, gross refining margins will recover with pickup in economic activity.

The company remains our preferred pick among the oil marketing companies.

Click on the attachment to read the full report:

Prabhudas Lilladher HPCL Q4FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.