Hindustan Petroleum Corporation Limited (HPCL) Latest Updates

Financial Performance (Q3 FY26) HPCL reported a strong financial performance for the quarter ending December 2025 (Q3 FY26), with a 35% jump in standalone net profit to ₹4,072.49 crore, compared to ₹3,022.90 crore in the previous year. This growth was largely driven by improved Gross Refining Margins (GRMs), which reached $8.85 per barrel. The company’s total income for the quarter stood at approximately ₹1.25 lakh crore. Board and Management Changes In March 2026, the company announced a shift in its board composition. Shri Vikram Saxena was appointed as a new Government Nominee Director effective March 10, following the cessation of Shri Vinod Seshan and Shri Pankaj Kumar from the board. Additionally, Shri Rajesh Mehtani, Executive Director (Aviation), reached superannuation effective March 1, 2026, marking a transition in senior leadership within the aviation division. Strategic Projects and Infrastructure The company has made significant progress on its 9 million tonnes refinery project in Rajasthan, which is now 90% physically complete. HPCL also recently commissioned a Residue Upgradation Facility (RUF) at its Visakh Refinery. This facility uses advanced LC-Max technology to convert low-value residues into high-value distillates like petrol and diesel, which is expected to further enhance refining complexity and margins. New Partnerships and Energy Transition Under its "HP Udgam" initiative, HPCL invested ₹2 crore in January 2026 in Maraal Aerospace, a startup developing India's first solar-powered long-endurance drone. In the clean energy space, HPCL has also signed MoUs with Oil India Limited for Compressed Bio-Gas (CBG) projects and with IGX to enhance access to the Chhara LNG terminal in Gujarat. The company aims to increase biofuel production by 30% by the end of 2026.