Hindustan Petroleum Corporation Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹3,730.26Undervalued by 936.18%vs CMP ₹360.00

P/E (45.9) × ROE (30.9%) × BV (₹308.00) × DY (6.74%)

₹1,715.52Undervalued by 376.53%vs CMP ₹360.00

MoS: +79% (Strong)Confidence: 59/100 (Moderate)Models: 7 Under, 1 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹4,331.42	26%	Under (+1103.2%)
Graham Number	Earnings	₹708.13	19%	Under (+96.7%)
DCF	Cash Flow	₹1,266.35	12%	Under (+251.8%)
Net Asset Value	Assets	₹307.83	8%	Over (-14.5%)
EV/EBITDA	Enterprise	₹586.27	10%	Under (+62.9%)
Earnings Yield	Earnings	₹723.60	8%	Under (+101%)
ROCE Capital	Returns	₹994.79	10%	Under (+176.3%)
Revenue Multiple	Revenue	₹1,019.23	6%	Under (+183.1%)
Consensus (8 models)		₹1,715.52	100%	Undervalued

Key Drivers: Wide model spread (₹308–₹4,331) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 16.1%

*Investments are subject to market risks

Analysis summary

Data coverage: Price-data record updated 24 September 2026, 2:33 am +05:30. Annual results through Mar 2025; quarterly results through Dec 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Mar 2025 was ₹434,106.00 Cr, versus ₹433,857.00 Cr in Mar 2024 (0.1% year on year). Net profit for Mar 2025 was ₹6,736.00 Cr, versus ₹16,015.00 Cr in Mar 2024 (-57.9% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Mar 2025 period, operating cash flow was ₹14,231.00 Cr against net profit of ₹6,736.00 Cr. Cash flow covered 2.11 times reported profit. Cash generation supports the reported profit for this period; check whether this continues over several years.

Balance-sheet check

Reported borrowings were ₹55,964.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

Hindustan Petroleum Corporation Ltd scores 74/100 (Strong)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health73/100 · Strong

ROCE 22.2% ExcellentROE 30.9% ExcellentD/E 1.30 High debtInterest Coverage 5.5x StrongProfitable 4/5 available years Reported history

Smart Money65/100 · Strong

FII holding stable No changeDII holding up 0.61% MF buyingPromoter holding at 54.9% Stable

Earnings Quality100/100 · Strong

CFO/NP ratio: 2.19x Cash-backed earningsOPM expanding (1% → 5%) ImprovingWorking capital: -35 days (improving) Efficient

Quarterly Momentum70/100 · Strong

Revenue (4Q): -1% YoY FlatProfit (4Q): +155% YoY Strong

Industry Rank45/100 · Moderate

P/E 45.9 vs industry 16.5 Premium to peersROCE 22.2% vs industry 21.7% AverageROE 30.9% vs industry 22.7% Above peers3Y sales CAGR: 7% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: September 24, 2026, 2:33 am

Market Cap	76,665 Cr.
Current Price	360
Intrinsic Value	₹1,715.52
High / Low	508/316
Stock P/E	45.9
Book Value	308
Dividend Yield	6.74 %
ROCE	22.2 %
ROE	30.9 %
Face Value	10.0
PEG Ratio	2.85

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Hindustan Petroleum Corporation Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Hindustan Petroleum Corporation Ltd	76,665 Cr.	360	508/316	45.9	308	6.74 %	22.2 %	30.9 %	10.0
Mangalore Refinery & Petrochemicals Ltd	29,149 Cr.	166	215/126	10.6	80.8	2.41 %	18.1 %	14.6 %	10.0
Chennai Petroleum Corporation Ltd	20,676 Cr.	1,389	1,678/715	5.00	725	4.46 %	35.4 %	32.4 %	10.0
Bharat Petroleum Corporation Ltd	1,36,814 Cr.	316	392/267	8.83	231	5.54 %	25.6 %	28.8 %	10.0
Indian Oil Corporation Ltd	1,95,085 Cr.	138	189/130	5.80	155	5.97 %	18.7 %	20.5 %	10.0
Industry Average	357,874.83 Cr	602.83		16.46	361.30	4.27%	21.72%	22.69%	10.00

All Competitor Stocks of Hindustan Petroleum Corporation Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	109,688	108,056	112,079	95,752	111,348	114,678	113,888	99,957	110,608	109,633	110,825	100,856	115,153
Expenses	108,014	102,927	102,434	87,512	109,187	109,796	111,800	97,661	105,113	103,837	103,365	94,003	108,155
Operating Profit	1,674	5,130	9,646	8,240	2,160	4,882	2,089	2,296	5,495	5,795	7,461	6,852	6,998
OPM %	2%	5%	9%	9%	2%	4%	2%	2%	5%	5%	7%	7%	6%
Other Income	564	1,358	1,299	1,040	791	594	933	526	462	923	507	715	727
Interest	693	537	627	590	620	720	733	944	931	757	817	824	734
Depreciation	1,123	1,238	1,371	1,247	1,345	1,632	1,484	1,530	1,518	1,623	1,604	1,612	1,674
Profit before tax	422	4,713	8,947	7,443	986	3,124	805	348	3,509	4,338	5,547	5,131	5,317
Tax %	-5%	23%	24%	22%	28%	13%	21%	59%	28%	21%	26%	25%	25%
Net Profit	444	3,608	6,766	5,827	713	2,709	634	143	2,544	3,415	4,111	3,859	4,011
EPS in Rs	2.09	16.96	31.80	27.38	3.35	12.73	2.98	0.67	11.95	16.05	19.32	18.14	18.85

Last Updated: February 5, 2026, 4:38 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 10:16 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	234,237	216,648	177,910	187,493	219,510	275,491	269,092	233,248	349,913	440,709	433,857	434,106	436,467
Expenses	228,875	211,916	169,575	176,607	208,732	263,963	263,887	217,194	339,669	447,916	408,929	417,658	409,361
Operating Profit	5,363	4,733	8,335	10,886	10,778	11,527	5,204	16,055	10,244	-7,207	24,928	16,448	27,106
OPM %	2%	2%	5%	6%	5%	4%	2%	7%	3%	-2%	6%	4%	6%
Other Income	1,366	1,836	1,970	3,697	2,785	2,383	679	2,731	3,897	3,957	3,725	2,072	2,873
Interest	2,393	1,841	723	609	618	786	1,139	963	997	2,174	2,556	3,365	3,132
Depreciation	3,011	2,497	2,846	2,776	2,834	3,085	3,370	3,625	4,000	4,560	5,596	6,154	6,514
Profit before tax	1,325	2,231	6,735	11,197	10,110	10,039	1,374	14,197	9,144	-9,984	20,500	9,000	20,332
Tax %	19%	33%	31%	26%	29%	33%	-92%	25%	20%	-30%	22%	25%
Net Profit	1,080	1,489	4,675	8,236	7,218	6,691	2,639	10,663	7,294	-6,980	16,015	6,736	15,397
EPS in Rs	4.73	6.56	20.45	36.03	31.58	29.27	11.54	48.83	34.28	-32.80	75.26	31.66	72.36
Dividend Payout %	49%	55%	25%	37%	36%	36%	56%	31%	27%	0%	28%	33%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	37.87%	213.97%	76.17%	-12.36%	-7.30%	-60.56%	304.05%	-31.60%	-195.70%	329.44%	-57.94%
Change in YoY Net Profit Growth (%)	0.00%	176.10%	-137.80%	-88.53%	5.06%	-53.26%	364.61%	-335.65%	-164.10%	525.14%	-387.38%

Hindustan Petroleum Corporation Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	7%
5 Years:	10%
3 Years:	7%
TTM:	-1%

Compounded Profit Growth
10 Years:	16%
5 Years:	15%
3 Years:	-2%
TTM:	3%

Stock Price CAGR
10 Years:	13%
5 Years:	24%
3 Years:	34%
1 Year:	-14%

Return on Equity
10 Years:	20%
5 Years:	17%
3 Years:	13%
Last Year:	14%

Last Updated: September 5, 2025, 6:20 am

Balance Sheet

Last Updated: September 7, 2026, 6:00 am

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	339	339	1,016	1,524	1,524	1,524	1,452	1,419	1,419	1,419	2,128	2,128
Reserves	13,585	16,325	20,055	24,008	28,876	29,456	36,628	39,985	30,844	45,502	49,016	63,428
Borrowings	36,916	22,160	22,130	21,952	28,192	44,001	43,709	48,498	70,671	66,684	70,558	55,964
Other Liabilities	34,905	30,729	37,127	42,197	48,762	41,935	52,438	64,774	58,452	69,188	73,067	81,544
Total Liabilities	85,745	69,553	80,329	89,681	107,354	116,918	134,228	154,676	161,387	182,794	194,770	203,064
Fixed Assets	45,425	34,086	36,876	38,695	41,642	48,952	50,912	58,126	68,387	79,763	86,179	100,430
CWIP	3,950	1,914	1,867	4,011	9,519	17,170	25,336	28,907	25,607	20,078	17,967	8,033
Investments	6,113	9,185	11,773	12,882	14,297	14,396	15,093	18,867	23,689	29,540	27,046	28,012
Other Assets	30,257	24,368	29,811	34,094	41,896	36,400	42,887	48,775	43,703	53,413	63,577	66,590
Total Assets	85,745	69,553	80,329	89,681	107,354	116,918	134,228	154,676	161,387	182,794	194,770	203,064

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	19,410	6,651	10,254	11,037	8,554	5,469	17,829	15,810	-3,466	23,852	14,231	36,111
Cash from Investing Activity +	-5,667	-4,272	-5,304	-7,398	-11,382	-14,168	-12,279	-13,745	-11,384	-13,019	-10,559	-11,404
Cash from Financing Activity +	-14,699	-3,674	-4,239	-4,423	2,598	8,452	-4,709	-2,066	16,025	-16,155	-4,139	-22,770
Net Cash Flow	-956	-1,295	712	-784	-230	-247	841	-1	1,175	-5,322	-467	1,936
Free Cash Flow	13,097	1,827	4,400	4,334	-2,713	-8,325	6,222	3,782	-12,646	13,906	4,814	27,999
CFO/OP	427%	94%	114%	121%	92%	138%	131%	168%	46%	97%	84%	131%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Free Cash Flow	13,097.00	1,827.00	4,400.00	4,334.00	-2,713.00	-8,325.00	6,222.00	3,782.00	-12,646.00	13,906.00	4,814.00	27,999.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	10	7	8	8	9	8	5	11	7	6	8	10
Inventory Days	42	29	31	42	35	30	29	53	40	25	32	35
Days Payable	25	23	22	28	30	25	17	30	30	20	26	28
Cash Conversion Cycle	27	13	17	21	15	12	17	33	17	11	14	18
Working Capital Days	-5	-8	-9	-35	-29	-25	-34	-38	-29	-30	-33	-35
ROCE %	6%	7%	17%	29%	24%	20%	5%	19%	12%	-8%	21%	11%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	54.90%	54.90%	54.90%	54.90%	54.90%	54.90%	54.90%	54.90%	54.90%	54.90%	54.90%	54.90%
FIIs	13.26%	14.26%	13.80%	13.22%	14.11%	14.44%	12.55%	13.55%	14.48%	16.35%	17.26%	13.58%
DIIs	22.60%	21.27%	22.18%	21.47%	21.67%	21.81%	23.55%	23.16%	22.24%	20.64%	19.58%	22.85%
Government	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	9.23%	9.56%	9.10%	10.39%	9.31%	8.82%	8.98%	8.38%	8.37%	8.09%	8.24%	8.65%
No. of Shareholders	3,69,816	3,48,805	4,03,658	5,43,344	5,23,882	5,08,493	5,26,754	4,95,629	4,79,905	4,62,640	5,00,343	5,18,531

Shareholding Pattern Chart

No. of Shareholders

Hindustan Petroleum Corporation Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HDFC Mid Cap Fund	55,530,830	2.57	2371.17	N/A	N/A	N/A
Kotak Midcap Fund	22,265,482	1.61	950.74	24,265,482	2026-02-23 04:39:10	-8.24%
HDFC Balanced Advantage Fund	17,635,176	0.7	753.02	15,500,000	2026-02-23 04:29:17	13.78%
Kotak Large & Midcap Fund	14,000,000	1.99	597.8	N/A	N/A	N/A
SBI Midcap Fund	9,994,510	1.9	426.77	10,000,000	2026-01-26 06:12:10	-0.05%
SBI Large & Midcap Fund	9,331,762	1.06	398.47	N/A	N/A	N/A
Nippon India Growth Mid Cap Fund	8,588,252	0.88	366.72	N/A	N/A	N/A
DSP Mid Cap Fund	7,845,468	1.76	335	N/A	N/A	N/A
Mirae Asset Large & Midcap Fund	7,625,695	0.77	325.62	8,862,816	2026-01-26 07:10:14	-13.96%
HSBC Value Fund	7,421,237	2.18	316.89	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	31.66	112.89	-49.21	51.36	70.57
Diluted EPS (Rs.)	31.66	112.89	-49.21	51.36	70.57
Cash EPS (Rs.)	61.13	139.56	-34.61	69.32	97.42
Book Value[Excl.RevalReserv]/Share (Rs.)	240.32	330.68	227.38	291.80	262.19
Book Value[Incl.RevalReserv]/Share (Rs.)	240.32	330.68	227.38	291.80	262.19
Revenue From Operations / Share (Rs.)	2039.77	3057.61	3105.90	2466.02	1605.94
PBDIT / Share (Rs.)	87.58	189.19	-40.46	89.39	128.39
PBIT / Share (Rs.)	58.66	149.75	-72.60	61.19	103.43
PBT / Share (Rs.)	42.85	131.73	-87.92	54.16	96.79
Net Profit / Share (Rs.)	32.21	100.12	-66.75	41.13	72.46
NP After MI And SOA / Share (Rs.)	31.65	112.86	-49.19	51.41	73.42
PBDIT Margin (%)	4.29	6.18	-1.30	3.62	7.99
PBIT Margin (%)	2.87	4.89	-2.33	2.48	6.44
PBT Margin (%)	2.10	4.30	-2.83	2.19	6.02
Net Profit Margin (%)	1.57	3.27	-2.14	1.66	4.51
NP After MI And SOA Margin (%)	1.55	3.69	-1.58	2.08	4.57
Return on Networth / Equity (%)	13.16	34.13	-21.63	17.61	28.00
Return on Capital Employeed (%)	12.67	22.05	-11.77	10.43	20.92
Return On Assets (%)	3.45	8.76	-4.32	4.71	7.94
Long Term Debt / Equity (X)	0.67	0.80	1.49	0.77	0.72
Total Debt / Equity (X)	1.30	1.34	2.08	1.09	1.12
Asset Turnover Ratio (%)	2.30	2.52	2.79	2.46	1.88
Current Ratio (X)	0.59	0.61	0.59	0.69	0.70
Quick Ratio (X)	0.20	0.21	0.19	0.19	0.24
Inventory Turnover Ratio (X)	11.97	3.98	3.79	2.17	1.72
Dividend Payout Ratio (NP) (%)	0.00	13.28	0.00	44.24	13.93
Dividend Payout Ratio (CP) (%)	0.00	9.84	0.00	28.57	10.39
Earning Retention Ratio (%)	0.00	86.72	0.00	55.76	86.07
Cash Earning Retention Ratio (%)	0.00	90.16	0.00	71.43	89.61
Interest Coverage Ratio (X)	5.54	10.50	-2.64	12.72	19.36
Interest Coverage Ratio (Post Tax) (X)	3.04	6.56	-3.36	6.85	11.93
Enterprise Value (Cr.)	142822.56	129852.86	99976.40	82939.91	76165.43
EV / Net Operating Revenue (X)	0.32	0.29	0.22	0.23	0.32
EV / EBITDA (X)	7.66	4.84	-17.41	6.54	4.08
MarketCap / Net Operating Revenue (X)	0.17	0.15	0.07	0.10	0.14
Retention Ratios (%)	0.00	86.71	0.00	55.75	86.06
Price / BV (X)	1.50	1.44	1.04	0.92	0.89
Price / Net Operating Revenue (X)	0.17	0.15	0.07	0.10	0.14
EarningsYield	0.08	0.23	-0.20	0.19	0.31

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

What is the intrinsic value of Hindustan Petroleum Corporation Ltd and is it undervalued?

Hindustan Petroleum Corporation Ltd: the stored intrinsic value estimate is ₹1,715.52, compared with a stored share price of ₹360.00. The model value is 376.5% above that quote. The model classifies this as undervalued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for Hindustan Petroleum Corporation Ltd?

The stored share price is ₹360.00. Price-data record updated: 24 September 2026, 2:33 am +05:30. This is not a live quote. The stored 52-week high / low is 508/316; this is a rolling range, not a financial-year range.

How have Hindustan Petroleum Corporation Ltd's revenue and profit changed?

Does Hindustan Petroleum Corporation Ltd's profit convert into cash?

What should I check in Hindustan Petroleum Corporation Ltd's balance sheet?

Reported borrowings were ₹55,964.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How should I compare Hindustan Petroleum Corporation Ltd's P/E with other stocks?

The stored P/E is 45.90. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change Hindustan Petroleum Corporation Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.