On October 30, 2025, HPCL share price rose 1.22% and reached a day high of ₹477.00 at 10:50 AM, after opening at ₹471.80 on BSE. The gain in HPCL share price follows the release of Q2FY26 results, wherein it delivered an outstanding performance during the period, supported by robust refining and marketing operations.
HPCL reported a significant 731% increase in standalone Profit After Tax (PAT) for the first half of FY26, reaching ₹8,201 crore. The company’s refining throughput rose by 9.7% to 13.23 million metric tonnes (MMT), while marketing sales volume grew by 3.5% to 25.11 MMT. HPCL also made notable progress in reducing its debt-equity ratio, which improved to 1.07 compared to 1.38 as of March 31, 2025. The strong refining performance was further reflected in a Gross Refining Margin (GRM) of US$ 8.80 per barrel in Q2 FY26.
During H1 FY26, HPCL recorded a remarkable 731% year-on-year increase in standalone PAT and a 507% growth in Q2 FY26 PAT. Revenue from operations stood at ₹230,458 crore for H1 FY26, compared to ₹229,074 crore in H1 FY25, and ₹110,323 crore for Q2 FY26, as against ₹108,196 crore in Q2 FY25. The company’s GRM improved to US$ 5.95 per barrel for H1 FY26 from US$ 4.03 per barrel in H1 FY25, and to US$ 8.80 per barrel for Q2 FY26 from US$ 3.12 per barrel in the same period last year.
Standalone PAT stood at ₹8,201 crore for H1 FY26, a sharp rise from ₹987 crore in H1 FY25, while Q2 FY26 PAT came in at ₹3,830 crore compared to ₹631 crore in Q2 FY25. On a consolidated basis, HPCL posted a PAT of ₹7,970 crore for H1 FY26 against ₹777 crore in H1 FY25, and ₹3,859 crore for Q2 FY26 versus ₹143 crore in Q2 FY25.
Operationally, HPCL achieved its highest-ever crude throughput of 13.23 MMT during H1 FY26, up 9.7% from 12.06 MMT in H1 FY25. The Visakh Refinery achieved its highest-ever crude throughput of 8.14 MMT, operating at 108% of its enhanced nameplate capacity of 15 MMTPA. The Mumbai Refinery also delivered a strong performance with a throughput of 5.09 MMT, operating at 107% of its nameplate capacity of 9.50 MMTPA.
In terms of strategic investments and infrastructure development, HPCL incurred a capital expenditure of ₹3,257 crore in Q2 FY26 and a cumulative ₹6,117 crore for H1 FY26. The investments were directed toward strengthening refining and marketing infrastructure, as well as supporting subsidiaries and joint ventures to enhance capacities, develop new business lines, and improve operational efficiency.
Key project milestones during the quarter included the commissioning of India’s largest LPG cavern at Mangalore with a storage capacity of 80 TMT, and the commissioning of the Barmer Palanpur Pipeline (BPPL), enabling the pumping of sour HSD from Mundra for the Barmer refinery. Additionally, the Bhatinda Sangrur Product Pipeline was completed and commissioned, forming part of the pipeline network from the Guru Govind Singh Refinery (HMEL), Ramanmandi, for the evacuation of white oil products.
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Published on: Oct 30, 2025, 11:03 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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