HPCL Results Analysis Q1FY26

Operating Revenue for Q1FY26 is Rs. 1,20,135 Crs., Flat to negative growth YoY, Total Income is Rs. 1,20,658 Crs., Flat to negative growth YoY, EBITDA is Rs. 7,602 Crs., 258% growth YoY, EBITDA Margin is 6.33% improved by 457 Basis points YoY, PBT Rs. 5,826 Crs., 1,136% growth YoY, PAT Rs. 4,371 Crs. 1128% growth YoY. Gross Refining Margin (GRM): US$ 3.08 per barrel (US$ 5.03 per barrel in Q1 FY25). Refineries recorded quarterly throughput of 6.66 MMT 15.6% growth YoY, and an average utilisation of 109%. The Market sales volume of 13.04 MMT (including exports) for the quarter were at a record high, representing a growth of 3.2%. On QoQ basis Op. Revenue is flat to positive, Total Income is also flat to positive, EBITDA is up by 31%, PBT is also up by 35.4% and PAT is also up by 30.1%. First-ever supply of Lubricants were made to Indonesia, thus, expanding global footprints of the company.