Hindustan Petroleum Corporation Limited (HPCL) reported a strong financial and operational performance for the quarter and financial year ended March 31, 2026, supported by record refinery throughput, growth in fuel sales, robust refining margins, and continued focus on operational efficiency and financial discipline. The company reported a sharp increase in profitability during FY26, with standalone Profit After Tax rising 133% year-on-year to ₹17,175 crore compared to ₹7,365 crore in FY25.
Consolidated Profit After Tax increased 168% to ₹18,047 crore from ₹6,736 crore during the previous year. Revenue from operations for FY26 stood at ₹4,78,543 crore compared to ₹4,66,346 crore in FY25, while Q4 FY26 revenue rose to ₹1,23,602 crore against ₹1,18,334 crore in the corresponding quarter last year.
HPCL’s Gross Refining Margin (GRM) for FY26 improved significantly to US$ 8.79 per barrel compared to US$ 5.74 per barrel in FY25. During Q4 FY26, GRM strengthened further to US$ 14.27 per barrel against US$ 8.44 per barrel in Q4 FY25.
Standalone Profit After Tax for the fourth quarter increased 46% year-on-year to ₹4,902 crore, while consolidated quarterly PAT stood at ₹6,065 crore. The Board of Directors has recommended a final dividend of ₹19.25 per equity share of face value ₹10 for FY26, subject to shareholder approval. This is in addition to the interim dividend of ₹5 per share already paid during the financial year.
HPCL achieved its highest-ever refinery throughput during FY26 at 26.04 million metric tonnes (MMT), registering a 3% increase over the previous year. The company also recorded its highest-ever distillate yield of 75.8%.
Visakh Refinery processed 16.04 MMT of crude during the year while operating at 107% capacity utilization and achieved a record distillate yield of 74.5%. Mumbai Refinery processed 10 MMT of crude, operating at 105% of its installed capacity.
During Q4 FY26, total crude throughput stood at 6.43 MMT. The company also expanded its crude basket by processing four new grades during the quarter, taking the total number of crude grades processed during the year to 52.
HPCL continued to strengthen its marketing business during FY26, with total sales volume, including exports, increasing 3.3% to 51.45 MMT. Domestic sales rose 2.6%, while combined petrol and diesel sales increased to 31.06 MMT. LPG sales grew 5.2% year-on-year to 9.41 MMT during FY26, while pipeline throughput reached 25.54 MMT.
The company invested ₹15,705 crore during FY26 toward refining and marketing infrastructure expansion, operational efficiency improvements, and investments in subsidiaries and joint ventures. HPCL Rajasthan Refinery Limited (HRRL) achieved important project milestones during the year, including commencement of crude processing during trial runs in February 2026. The company also signed a 350 MW power purchase agreement and continued commissioning activities across major refinery units.
Following a fire incident at the refinery’s CDU unit in April 2026, HPCL stated that the situation was promptly brought under control without any casualties or injuries. Restoration activities are underway and refinery commissioning is expected to resume shortly.
The company also expanded its aviation fuel network with a new aviation refuelling facility at Dinjan Airport in Assam, taking the total count to 59. HPCL commissioned 526 new retail outlets during Q4 FY26, taking its total retail network to 25,098 outlets across India.
The company continued to strengthen its sustainability and clean energy initiatives during FY26. It signed a long-term LNG procurement agreement with ADNOC Gas subsidiary Abu Dhabi Gas Liquefaction Company and entered into strategic collaborations with UltraTech Cement and Castrol for used oil recycling and re-refined base oil initiatives.
HPCL also signed agreements for Sustainable Aviation Fuel collaboration with Akasa Air and green hydrogen procurement under the National Green Hydrogen Mission. The company stated that its EBITDA improvement initiative, Project Samridhi, generated accruals of ₹1,691 crore during FY26, while its HP Green R&D Centre expanded its intellectual property portfolio with 779 patents filed and 312 patents granted.
