Hindustan Petroleum Corp Ltd (NSE:HINDPETRO)

Q3 2024 Hindustan Petroleum Corp Ltd Earnings Call Transcript

Jan 25, 2024 / 10:30AM GMT

Release Date Price: ₹287.07 (-4.85%)

Transcript

Key Points

Positve

Hindustan Petroleum Corp Ltd (BOM:500104) reported a refining throughput of over 22 million metric tons for the year.
The company has gained market share in all products, with significant growth in the aviation business.
The Visakhapatnam refinery's hydrocracker unit is nearing stabilization, expected to improve distillate yields.
Debt levels have been reduced from INR 64,000 crores to below INR 50,000 crores.
The company has declared an interim dividend of 150%.

Negative

Q3 results were impacted by a planned maintenance shutdown at the Visakhapatnam refinery.
Inventory losses due to fluctuations in crude prices amounted to INR 700-750 crores.
Suppressed margins on some marketing products, particularly HSD (High-Speed Diesel).
The stabilization of the hydrocracker unit at Visakhapatnam refinery is still ongoing, affecting current performance.
The company faces challenges in crude procurement due to disruptions in the Red Sea, impacting freight rates.

Operator

Ladies and gentlemen, good day, and welcome to the HPCL Q3 FY24 earnings conference call hosted by Antique Stock Broking. (Operator Instructions)

Please note that this conference is being recorded. I now hand the conference over to Mr. Varatharajan Sivasankaran from Antique Stock Broking. Thank you, and over to you, sir.

Varatharajan Sivasankaran

Antique Stock Broking Ltd - Analyst

Thanks, Rio. Good evening, everyone. I would like to welcome all the participants and the management of Hindustan Petroleum Corporation to this call. We have with us today Mr. Pushp Kumar Joshi, Chairman and Managing Director; Mr. Rajneesh Narang, Director, Finance; Mr. S. Bharathan, Director Refineries; Mr. K. Vinod, ED, Corporate Finance; and Mr. Lokesh Chhabra, GM, Corporate Finance from HPCL team.

A warm welcome to everyone. I'd like to hand over the call to HPCL management for their initial remarks and then followed by a Q&A.

Pushp Joshi

Hindustan Petroleum Corp Ltd - Chairman & Managing Director

Thank

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