Buy Hindustan Petroleum Corporation, target price Rs 430: ICICI Direct

ICICI Direct has buy call on Hindustan Petroleum Corporation with a target price of Rs 430. The current market price of Hindustan Petroleum Corporation is Rs 259.55.

Hindustan Petroleum Corporation, incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 36953.18 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 31-03-2023, the company has reported a Consolidated Total Income of Rs 108634.71 Crore, down -6.74 % from last quarter Total Income of Rs 116485.79 Crore and up 9.93 % from last year same quarter Total Income of Rs 98818.10 Crore. Company has reported net profit after tax of Rs 2828.50 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 M P Chitale & Co as its auditors. As on 31-03-2023, the company has a total of 142 Crore shares outstanding.

Investment Rationale
HPCL is one India’s largest public sector refining and marketing companies. It operates more than 21000 retail outlets. Petrol & diesel together historically contributed more than 60% of total sales.

Promoter/FII Holdings
Promoters held 54.9 per cent stake in the company as of 31-Mar-2023, while FIIs owned 14.36 per cent, DIIs 21.4 per cent.