Motilal Oswal: HPCL Q2 Review - Better Margins Lead Beat; Value Creation For Investors Proposed
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Motilal Oswal Report
Hindustan Petroleum Corporation Ltd. reported better-than-estimated Ebitda, driven by healthy margins (core gross refining margin at 2.7/barrel of oil U.S. dollar, marketing margin at Rs 6 per litre) and sales volumes (8.4 million metric tonne).
Refining throughput was in line with estimates (4.1 million metric tonne).
Motor spirit and high speed diesel demand for the company was up 2.6/down 4% YoY of the normal level in September 2020, which further improved to up 4.7/up 11.5% YoY in October 2020.
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