Hindustan Petroleum Corporation Limited (HPCL), a Maharatna Central Public Sector Enterprise, released its 74th Integrated Annual Report for FY 2025-26, reporting a landmark year of financial and operational performance. The Corporation posted a record standalone Profit After Tax (PAT) of ₹17,175 crore, compared to ₹7,365 crore in FY 2024-25, alongside its highest-ever crude throughput, sales volumes, and refinery utilisation levels.

Key Financial Performance

HPCL's standalone financial results for FY 2025-26 reflect a significant improvement across all major metrics. The following table summarises the key financial highlights:

The Board recommended a final dividend of ₹19.25 per equity share for FY 2025-26, in addition to the interim dividend of ₹5.00 per share already paid, taking the total dividend to ₹24.25 per share. The total dividend payout ratio stood at 30.04%. Project Samriddhi, the Corporation's EBITDA improvement programme, delivered benefits of ₹1,691 crore through cost optimisation and margin enhancement initiatives.

Operational Highlights

HPCL achieved its highest-ever aggregate crude throughput of 26.04 MMT during FY 2025-26, surpassing the previous record of 25.27 MMT in FY 2024-25. Both refineries operated above design capacity at an average utilisation of 106.3%.

A landmark development during the year was the commissioning of the Residue Upgradation Facility (RUF) at Visakh Refinery in December 2025, featuring the world's first and largest LC-Max unit with 3.55 MMTPA capacity. This facility enables approximately 93% conversion of bottom-of-the-barrel residues into high-value distillates. The HPCL Rajasthan Refinery Limited (HRRL) project reached 91.6% overall physical completion by March 31, 2026, and was subsequently dedicated to the nation by the Prime Minister on July 4, 2026.

Marketing and Business Segments

HPCL achieved its highest-ever total sales volume of 51.45 MMT, representing 3.3% growth over the previous year. Key segment performances are summarised below:

The retail network expanded by 1,353 outlets during the year, taking the total to 25,098 outlets. EV charging facilities (including battery swapping stations) installed by HPCL reached 5,533, while CNG-enabled outlets stood at 2,253. HP Gas added 17.3 lakh new connections, supported by a distributor network of 6,389 distributors.

Infrastructure and Capital Investments

During FY 2025-26, HPCL commissioned four major pipeline projects, including the 216 km Barmer–Palanpur Multiproduct Pipeline (BPPL), the 90 km Bhatinda–Sangrur Multiproduct Petroleum Pipeline (BSPL), the 493 km AMPL Crude Pipeline from Mundra to HRRL, and the 74 km MCPL Crude Pipeline. The total pipeline network expanded to 5,440 km. The Supplies, Operations and Distribution (SOD) function recorded its highest-ever throughput of 63.9 MMT.

Of the total capital expenditure of ₹15,705 crore, ₹3,997 crore was invested in the Refining business and ₹7,272 crore in Marketing and corporate. Cumulative investments in subsidiaries and joint ventures stood at ₹20,877.59 crore as of March 31, 2026.

R&D, Innovation and Sustainability

HPCL's HP Green R&D Centre filed 118 new patents during FY 2025-26, taking the cumulative portfolio to 779 patent filings and 312 patents granted. R&D investment for the year stood at ₹579.41 crore. Specialty chemicals sales reached 5,048 TMT, registering 11% year-on-year growth.

On the sustainability front, HPCL achieved 19.94% ethanol blending in petrol, contributing to an estimated 4.56 million tonnes of CO2e emissions reduction. Renewable energy capacity increased to 241 MW. The Corporation maintained its commitment to achieving Net Zero Scope 1 and Scope 2 emissions by 2040. Energy savings in refineries during FY 2025-26 amounted to 86,542 SRFT, equivalent to a reduction of approximately 0.28 MTCO2e.

Credit Ratings and Shareholder Value

HPCL maintained its international credit ratings of Baa3 (Stable) from Moody's Investors Service and BBB- (Stable) from Fitch Ratings, both at par with India's Sovereign Rating. Domestically, the Corporation retained its highest ratings of AAA (Stable) for long-term and A1+ for short-term facilities from CRISIL, India Ratings, and ICRA. Market capitalisation stood at ₹71,335 crore (BSE, end of year). Total contribution to the government exchequer during FY 2025-26 amounted to ₹1,16,316.86 crore.

CSR and Human Capital

HPCL allocated ₹85.38 crore towards CSR initiatives during FY 2025-26, supporting around 130 activities and projects. The Skill Development Institute at Visakhapatnam trained a record 5,115 students during the year, with the placement rate improving from 84% in FY 2024-25 to 94% in FY 2025-26. The Corporation's workforce stood at 8,256 employees, who collectively completed over 74,268 person-days of training. The total value of human resources was assessed at ₹42,356 crore using the Lev & Schwartz model.

Hindustan Petroleum has accepted the resignation of Shri Ramakrishnan Subramanian as Executive Director - HSE (Marketing), effective August 01, 2026. The departure is due to superannuation, marking a standard leadership transition within the company’s senior management team. This change impacts the Health, Safety, and Environment (HSE) division under the marketing vertical, requiring internal realignment of responsibilities.

The company notified the BSE Limited and the National Stock Exchange of India Limited regarding this change in senior management. The disclosure was made in terms of Regulation 30 read with Schedule III Part A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Rakesh Kumar Singh, Company Secretary, signed the communication dated August 01, 2026.

Key Details of the Change

The filing indicates that no brief profile was provided for the outgoing executive in this specific disclosure. As per regulatory norms, such changes are communicated immediately to ensure transparency with investors and stakeholders regarding the composition of the senior management team.

Regulatory Compliance

The notification underscores Hindustan Petroleum’s adherence to mandatory disclosure requirements under Indian securities laws. By citing Regulation 30 of the SEBI LODR Regulations, 2015, the company ensures that market participants are informed of any material changes in leadership that could potentially influence operational oversight or strategic direction in key areas like HSE within marketing operations.

This administrative update does not signal any distress or irregularity but rather reflects the natural lifecycle of corporate governance where executives retire upon reaching the age of superannuation. The Board of Directors will likely appoint a successor to fill the vacancy in due course, though no immediate replacement was named in this filing.