Buy Hindustan Petroleum Corporation Ltd., target price Rs 260: JM Financial
Hence, despite significant risk to marketing segment earnings due to sustained high crude price, the brokerage maintains BUY on HPCL with an unchanged TP of INR 260.
By ETMarkets.com | Updated:
Agencies
JM Financial has buy call on Hindustan Petroleum Corporation with a target price of Rs 260. The current market price of Hindustan Petroleum Corporation is Rs 232.1.
Hindustan Petroleum Corporation, incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 32917.41 Crore) operating in Gas & Petroleum sector.
Hindustan Petroleum Corporation key Products/Revenue Segments include Refinery, Rent and Other Operating Revenue for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 116485.79 Crore, up 7.12 % from last quarter Total Income of Rs 108742.66 Crore and up 19.91 % from last year same quarter Total Income of Rs 97146.50 Crore. Company has reported net profit after tax of Rs 154.79 Crore in latest quarter.
The company’s top management includes Mr.Pushp Kumar Joshi, Mr.Sunil Kumar, Mr.Nagaraja Bhalki, Mr.Ramdarshan Singh Pal, Mr.Vivekananda Biswal, Mr.Bechan Lal, Mrs.Vimla Pradhan, Mr.Rajneesh Narang, Mr.Vinod S Shenoy, Mr.Pankaj Kumar. Company has R Devendra Kumar & Associates as its auditors. As on 31-12-2022, the company has a total of 142 Crore shares outstanding.
Gross debt (excluding lease liability) declined by INR 43bn QoQ to INR 642bn at end-3QFY23. At CMP, HPCL is trading at ~0.8x FY24 P/B (vs. 3-year avg of 0.9x and 10-year avg of 1.0x). Hence, despite significant risk to marketing segment earnings due to sustained high crude price, the brokerage maintains BUY on HPCL with an unchanged TP of INR 260.
Promoter/FII Holdings
Promoters held 54.9 per cent stake in the company as of 31-Dec-2022, while FIIs owned 15.65 per cent, DIIs 19.63 per cent.
Hindustan Petroleum Corporation, incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 32917.41 Crore) operating in Gas & Petroleum sector.
Hindustan Petroleum Corporation key Products/Revenue Segments include Refinery, Rent and Other Operating Revenue for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 116485.79 Crore, up 7.12 % from last quarter Total Income of Rs 108742.66 Crore and up 19.91 % from last year same quarter Total Income of Rs 97146.50 Crore. Company has reported net profit after tax of Rs 154.79 Crore in latest quarter.
The company’s top management includes Mr.Pushp Kumar Joshi, Mr.Sunil Kumar, Mr.Nagaraja Bhalki, Mr.Ramdarshan Singh Pal, Mr.Vivekananda Biswal, Mr.Bechan Lal, Mrs.Vimla Pradhan, Mr.Rajneesh Narang, Mr.Vinod S Shenoy, Mr.Pankaj Kumar. Company has R Devendra Kumar & Associates as its auditors. As on 31-12-2022, the company has a total of 142 Crore shares outstanding.
ADVERTISEMENT
Investment RationaleGross debt (excluding lease liability) declined by INR 43bn QoQ to INR 642bn at end-3QFY23. At CMP, HPCL is trading at ~0.8x FY24 P/B (vs. 3-year avg of 0.9x and 10-year avg of 1.0x). Hence, despite significant risk to marketing segment earnings due to sustained high crude price, the brokerage maintains BUY on HPCL with an unchanged TP of INR 260.
Promoter/FII Holdings
Promoters held 54.9 per cent stake in the company as of 31-Dec-2022, while FIIs owned 15.65 per cent, DIIs 19.63 per cent.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
