ICRA

Hindustan Petroleum Corporation Ltd (HPCL) has collaborated with the Indian Army for implementing a CSR project to coach and mentor less-privileged girl students in Kargil, a company statement said. The project -- 'Kargil Ignited Minds' -- aims to prepare 50 girl students for various national-level engineering and medical entrance examinations.
It will focus on empowering the underprivileged girls with limited resources, residing in extreme weather conditions. The selection of students for this project is a rigorous process involving screening, preliminary test and interviews.

HPCL collaborates with Indian Army for CSR project in Kargil.

Hindustan Petroleum Corporation Limited(HPCL) has signed a preliminary liquefied natural gas(LNG) supply agreement with ADNOC Gas, the national gas company of the United Arab Emirates. This contract provides for the regular shipment of LNG for a period of ten years. The Indian company will receive the gas at the new Chhara terminal in the state of Gujarat, a facility within the country’s energy infrastructure. This entry point will facilitate supply to HPCL’ s own refineries as well as urban gas distribution(CGD) networks and other industrial customers. The alliance with ADNOC Gas enhances India’s energy security in a global context marked by price volatility and geopolitical instability. Through this commitment, HPCL diversifies its contract portfolio, merging short- and long-term agreements that allow it to respond more agilely to domestic demand.

Hindustan Petroleum secures 10-year LNG supply from UAE

HPCL is undertaking major projects, with execution risks around cost, timelines, and stabilization. Gearing improved to 1.34x (March 2025) and is expected to fall further as capex winds down. As a GoI entity, it enjoys strong financial flexibility, though debt reliance remains a key monitorable.



HPCL remains exposed to crude price and forex volatility, with crude prices  averaging $93, $84, and $79/bbl in FY23, FY24, and FY25. While most crude is imported, HPCL offsets volatility through marketing margins—its ability to do so remains a key monitorable.


The issuer has made timely interest payments.

Vikas Kaushal Chairman & Managing Director

HPCL holds strategic importance for India's economic growth, ensuring uninterrupted supply of key petroleum products. As a major OMC, it supports the government's socio-economic policies and is likely to continue receiving strong GoI backing.


HPCL commands 13.44% of India's refining capacity, with coastal refineries offering logistical advantages. Backed by 23,747 retail outlets and 6,378 LPG distributors (2nd largest in India), its strong network and branding efforts reinforce its market leadership.


Security Name: 7.81% Hindustan Petroleum Corporation Limited 13 Apr 2032

ISIN: INE094A08119

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Hindustan Petroleum Corporation Limited

HPCL collaborates with Indian Army for CSR project in Kargil.

Hindustan Petroleum secures 10-year LNG supply from UAE

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