Joint Ventures & Subsidiaries

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At HPCL, we believe we are stronger, because of the wealth of synergies and benefits due to our Joint Ventures & Subsidiaries. Refining and Marketing of Petroleum Products forms the core business of our Corporation. To access new revenue streams and to augment downstream businesses various opportunities have been explored by us. Accordingly, we have formed subsidiaries and joint venture companies in various areas including Oil Refining and Petrochemicals, Value Added Bituminous Products, Marketing of POL Products, POL Pipelines, Natural Gas Pipelines, LPG Pipelines, City Gas Distribution (CGD), LPG Cavern, LNG terminal, Aviation fuel farm facilities and Biofuels. Given here is an overview of our Joint Ventures & Subsidiaries

Joint Ventures

Logo of HMEL HPCL-Mittal Energy Ltd.(HMEL)

HPCL-Mittal Energy Ltd. (HMEL) is a joint venture between HPCL and Mittal Energy Investments Pte. Ltd., Singapore with equity holding of 48.99% each.

HMEL is a leading integrated refining and petrochemical company in India with operations that span crude oil refining, petrochemical production & marketing. It owns and operates a 11.3 MMTPA Guru Gobind Singh Refinery (‘GGSR’) at Bathinda in Punjab.

During 2020-21, HMEL recorded 10.07 MMTPA of Crude processing in spite of challenges faced on account of lockdown due to COVID-19. Consolidated total revenue of Rs.52,589 Crores and Profit After Tax (PAT) of Rs.403.60 Crores has been achieved during the year.

HMEL is in the process of setting up of a Petrochemical facility, the Guru Gobind Singh Polymer Addition Project (`GGSPAP’) within the existing GGSR premises at Bathinda, Punjab. The project scope comprises of setting up of a world-class cracker unit to produce optimized Ethylene and setting up of associated downstream polymer units to produce LLDPE, HDPE, Butane and Impact Polypropylene (PP). The construction activities are in advanced stage of completion. Major utility plants like the compressed air & nitrogen plant and raw water treatment plant have already been commissioned and electrical sub-stations have been energized. Pre-commissioning activities have commenced for process units. After commissioning of the petrochemical complex, the capacity of polymer production is expected to be about 2 MMTPA.

Logo of HINCOL Hindustan Colas Pvt Ltd. (HINCOL)

HINCOL is a joint venture of HPCL and Colas S.A., France with equity shareholding of 50% each. HINCOL is engaged in manufacturing and marketing of bitumen derivatives, which are widely used in road/air field construction in India. In addition to bitumen derivatives, it also carries out niche road maintenance activities like micro surfacing & slurry sealing. HINCOL owns and operates 10 strategically located manufacturing plants complying with the requirements of international standard ISO 9001:2015, 14001:2015 and 45001:2018.

During 2020-21, HINCOL recorded its highest-ever sale of 332 TMT registering a growth of 32% despite the challenges from COVID-19 pandemic. It also registered its highest-ever emulsion sales of 210 TMT during the year, growing at 10%. During 2020-21, the company achieved a total revenue of Rs.1158.75 Crores and Profit after Tax (PAT) of Rs.155 Crores.

HINCOL has been paying dividend for the last 21 years and has declared total dividend of 800 % for 2020-21.

The company commissioned its 10th Plant near Guwahati, Assam in addition to augmenting its existing facilities to meet the growing market demand. During the year, HINCOL, in association with Dust-A-Side, Ireland established a 50:50 Joint Venture company, ‘DUST-A-SIDE HINCOL Limited’ for providing dust management solutions in mining Industries in India.

Logo of SALPG South Asia LPG Co Pvt. Ltd.(SALPG)

South Asia LPG Company Pvt. Ltd. (SALPG) is a joint venture between HPCL and Total Holding India with equity holding of 50% each. SALPG owns and operates an underground LPG cavern having 60 TMT capacity and associated receiving and despatch facilities at Visakhapatnam.

During 2020-21, SALPG achieved highest ever throughput of 1.83 MMT registering a growth of 9.4%. SALPG has achieved total revenue of Rs. 217.85 Crores and recorded Profit After Tax (PAT) of Rs.129.04 Crores.

SALPG has been continuously paying dividend for the last 11 years. SALPG Board has recommended total dividend of 140 % for FY 2020-21.

SALPG bagged 5 star rated EHS excellence award 2020 from Confederation of Indian Industry (CII), Southern region, Chennai.

Logo of BGL Bhagyanagar Gas Ltd. (BGL)

Bhagyanagar Gas Ltd. (BGL) is a joint venture of HPCL and GAIL with equal equity holding of 48.73% each.

BGL has a CGD network comprising of 2,157 km MDPE pipeline and 172 km steel pipeline and is serving 2,44,459 domestic customers. BGL also operates 126 CNG stations in the cities of Hyderabad, Vijayawada and Kakinada in the states of Andhra Pradesh and Telangana.

During 2020-21, BGL has achieved sales volume of 15,817 MT of CNG and 390.53 lakh Standard Cubic Meter (SCM) of PNG, registering a growth of 40% in PNG sales over the previous year. BGL has recorded total revenue of Rs.173.18 Crores and Profit After Tax (PAT) of Rs.8.58 Crores during the year

Logo of Avantika Gas LtdAavantika Gas Ltd.

Aavantika Gas Ltd. (AGL) is a joint venture of HPCL and GAIL with equal equity holding of 49.99% each.

AGL has a CGD network comprising of 2,328 km MDPE pipeline and 103 km steel pipeline and is serving 91,420 domestic customers. AGL also operates 67 CNG stations in the cities of Indore, Ujjain, Pithampur and Gwalior in the state of Madhya Pradesh.

During 2020-21, AGL has achieved sales volume of 18,801 MT of CNG and 303.45 lakh SCM of PNG, registering a growth of 10% in PNG sales over the previous year. AGL has also reported total revenue of Rs. 209.52 Crores and Profit After tax (PAT) of Rs. 42.80 Crores during the year.

Logo of Petronet MHB ltd. Petronet MHB Ltd. (PMHBL)

Petronet MHB Ltd. (PMHBL) is a joint venture of HPCL and ONGC with equal equity holding of 49.996% each. PMHBL owns and operates a multiproduct petroleum pipeline to transport MRPL refinery’s petroleum products to various parts of Karnataka.

During 2020-21, PMHBL has achieved thruput of 2.139 MMT and reported total revenue of Rs.111.28 Crores and Profit After Tax (PAT) of Rs.51.81 Crores.

In order to tap into renewable resources and to promote usage of clean and green energy, PMHBL has installed ground mounted solar PV power plant at a total capacity of 3.63 MWp at its Mangalore, Hassan & Devangonthi Stations including SV stations.

PMHBL Integrated Management System (IMS) is certified for quality management system-ISO-9001-2015, environmental management system-ISO-14001, OHSAS–18001 and energy management system- ISO-50001-2011. The company deployed various updated technologies/solutions for its operations as per international standards.

PMHBL Board declared total dividend of 60% for 2020-21.

Logo of MRPL Mangalore Refineries and Petrochemicals Ltd. (MRPL)

Mangalore Refinery and Petrochemicals Ltd. (MRPL) is a joint venture of HPCL and ONGC wherein ONGC holds 71.63% of equity, HPCL holds 16.96% equity, and balance equity is held by public. MRPL is a schedule ‘A’ Miniratna, Central Public Sector Enterprise (CPSE) and operates 15 MMTPA refinery at Mangaluru in Karnataka.

During 2020-21, MRPL achieved refining thruput of 11.50 MMT and recorded consolidated total revenue of Rs. 50,992 Crores.

Natural Gas supply was established to MRPL through Kochi-Mangalore natural gas pipeline in March 2021 and natural gas is presently being used as feed to hydrogen unit in the refinery.

Logo of MAFFFL Mumbai Aviation Fuel Farm Facility Pvt. Ltd. (MAFFFL)

Mumbai Aviation Fuel Farm Facility Pvt. Ltd. (MAFFFL) is a joint venture of Mumbai International Airport Private Limited (MIAL), IOCL, BPCL and HPCL with equity holding of 25% each.

The company is engaged in operation and maintenance of the existing aviation fuel farm facilities and provides into-plane services at Chhatrapati Shivaji International Airport (CSIA), Mumbai. The company will construct, maintain and operate the new integrated fuel farm facility on an open access basis. The construction of the integrated fuel farm is in advanced stage of completion.

MAFFFL achieved thruput of 6.06 lakh KL during 2020-21. MAFFFL has registered total revenue of Rs.50.90 Crores and Profit After Tax (PAT) of Rs. 1.56 Crores during 2020-21.

Logo of GIGL GSPL India Gasnet Ltd (GIGL)

GSPL India Gasnet Ltd. (GIGL) is a joint venture of Gujarat State Petronet Ltd. (GSPL), Indian Oil Corporation Ltd. (IOCL), Bharat Petroleum Corporation Ltd. (BPCL) and HPCL. HPCL has 11% equity participation in the company and balance equity is held by GSPL (52%), IOCL (26%) and BPCL (11%).

GIGL has been authorised to lay two cross-country gas pipelines Mehsana to Bathinda Pipeline (MBPL) and Bathinda to Srinagar Pipeline (BSPL). The initial sections of the Projects viz. Barmer-Pali Pipeline, Palanpur-Pali Pipeline and Jalandhar Amritsar Pipeline are in operation from 2018-19 onwards. During 2020-21, the Company has transported 995.5 MMSCM of gas and recorded total revenue of Rs.180.40 Crores and Profit After Tax (PAT) of Rs. 16.21 Crores.

Logo of GITL GSPL India Transco Ltd (GITL)

GSPL India Transco Ltd. (GITL) is a joint venture of GSPL, IOCL, BPCL and HPCL. HPCL has 11% equity participation in the Company and balance equity is being held by GSPL (52%), IOCL (26%), and BPCL (11%).

GITL has been authorised to lay 1,881 long km pipeline from Mallavaram to Bhilwara. The initial section of Project from Reliance Gas Transmission India Limited interconnection point at Kunchanapalli to Ramagundam Fertilizers & Chemicals Limited’s Plant at Ramagundam has been commissioned in 2019-20. During the year, the Company has transported about 88.18 MMSCM of gas and has recorded total revenue of Rs. 45.25 Crores.

Logo of GGPL Godavari Gas Pvt. Ltd. (GGPL)

Godavari Gas Pvt Ltd. (GGPL) is a joint venture between Andhra Pradesh Gas Distribution Corporation Limited (APGDC) and HPCL with equity stakes in the ratio of 74:26.

GGPL has been formed to develop and operate city gas distribution network in East Godavari and West Godavari districts of Andhra Pradesh .GGPL has a CGD network comprising of 620 km MDPE pipeline and 93 km steel pipeline and is serving 1,00,232 domestic customers. GGPL also operates 31 CNG stations in East Godavari and West Godavari districts of Andhra Pradesh.

During 2020-21, GGPL has achieved sales volume of 705 MT of CNG and 26.26 lakh SCM of PNG. GGPL has recorded total revenue of Rs. 10.60 Crore during the year.

Logo of RRPCL Ratnagiri Refinery and Petrochemicals Ltd. (RRPCL)

Ratnagiri Refinery and Petrochemicals Ltd. (RRPCL) is a joint venture company promoted by IOCL, BPCL and HPCL with equity participation in the ratio of 50:25:25. RRPCL has planned to set up a 60 MMTPA refinery along with integrated petrochemical complex at west coast of Maharashtra. Saudi Aramco and ADNOC have also signed an MOU to partner with RRPCL to jointly execute the project along with IOCL, BPCL and HPCL.

The pre-project activities like data collection and other Geo-physical requirements for environment clearance are in progress.

Logo of HOGPL HPOIL Gas Pvt. Ltd. (HOGPL)

HPOIL Gas Pvt. Ltd. (HOGPL) is a joint venture between HPCL and OIL India Ltd. (OIL) with equity shareholding of 50% each.

HOGPL has been formed to develop and operate CGD networks in geographical areas of Ambala – Kurukshetra districts in the state of Haryana and Kolhapur district in the state of Maharashtra .HOGPL has a CGD network comprising of 462.79 km MDPE pipeline and 34.47 km steel pipeline and is serving 9,612 domestic customers. HOGPL also operates 14 CNG stations Ambala – Kurukshetra districts and Kolhapur district.

During 2020-21, HOGPL has achieved sales volume of 1,685 MT of CNG. PNG sales started to domestic households in March 2021. HOGPL has recorded total revenue of Rs. 11.20 Crores during the year.

Logo of IHBPL IHB Limited (IHBL)

IHB Ltd. (IHBL) is a joint venture company promoted by IOCL, BPCL and HPCL with equity participation in the ratio of 50:25:25. The Company was converted into a Public Limited Company and new certificate of incorporation was received on 6th April 2021.

IHB Ltd was incorporated to construct, operate and manage about 2,800 km long Kandla-Gorakhpur LPG Pipeline, longest LPG pipeline in the World, for meeting the LPG demand of the bottling plants enroute the pipeline in Gujarat, Madhya Pradesh and Uttar Pradesh. Statutory clearances & acquisition of Right of Way (ROW) has been done for major part of the pipeline length and pipeline laying is in progress at multiple fronts.

Subsidiary Companies

Logo of Prize Petroleum Company Ltd Prize Petroleum Company Ltd.

Prize Petroleum Company Ltd. (PPCL) is a wholly owned subsidiary of HPCL. PPCL is the upstream arm of HPCL and is in the business of Exploration and Production (E&P) of hydrocarbons as well as providing services for management of E&P blocks.

PPCL has a wholly owned subsidiary namely Prize Petroleum International Pte Ltd. (PPIPL), incorporated in Singapore. PPIPL has participation interest of 11.25% and 9.75% in two E&P blocks [T/L1 and T/18P (retention leases T/RL2, T/RL4 & T/RL5) respectively] in Australia. During 2020-21, PPIPL has achieved its share of production of 283,149 BoE (Barrels of Oil Equivalent) from Yolla producing field (T/L1).

During 2020-21, PPCL has recorded total revenue of Rs. 96.82 Crores on consolidated basis.

Logo of HBL HPCL Biofuels Ltd. (HBL)

HPCL Biofuels Ltd. (HBL) is a wholly owned subsidiary company of HPCL. HBL was promoted as a backward integration initiative to enable HPCL’s foray in manufacturing of ethanol for blending in Petrol. HBL has two integrated Sugar -Ethanol-cogeneration plants at Sugauli and Lauriya districts in the state of Bihar.

During 2020-21, HBL has recorded total revenue of Rs.183.71 Crores and cane crushing of 399 TMT. HBL achieved sugar production of 38,958 MT, ethanol production of 7175 KL and power generation of 31,396 MWh during 2020-21.

Logo of HRRL HPCL Rajasthan Refinery Ltd. (HRRL)

HPCL Rajasthan Refinery Ltd. (HRRL) is a joint venture of HPCL and Government of Rajasthan with 74% equity participation by HPCL and 26% by Government of Rajasthan. HRRL is setting up a 9 MMTPA greenfield refinery cum petrochemical complex in the state of Rajasthan.

The project of setting up the refinery achieved significant progress during the year inspite of several constraints posed by the COVID-19 pandemic. Engineering & procurement activities of some of the major process units have been completed.. Construction activities of major process units such as Crude Distillation Unit, Vacuum Distillation Unit, Delayed Coker Unit, Vacuum Gas Oil Hydro Treating Unit, Diesel Hydro Treating Unit, Hydrogen Generation Unit, Petro Fluidized Catalytic Cracking Unit and Dual Feed Cracker Unit etc. are in progress. In addition, construction of water reservoirs for plant use, raw water pipeline, crude pipeline to refinery, effluent treatment plant, cooling towers, off site jobs & pipe racks etc. are in progress.

Logo of HMEFZCO HPCL Middle East FZCO

HPCL Middle East FZCO, a wholly owned subsidiary of HPCL has been formed for marketing of lubricants and other petroleum products across various markets of Middle East and Africa.

The Company is registered under the DAFZA (Dubai Airport Free Zone Authority) and has trade license for trading in lubricants and greases, petrochemicals and refined oil products.

HPCL Middle East FZCO has registered a sale of 818 MT of value added lubricants recording growth of 435% over previous year. HPCL Middle East FZCO has recorded total revenue of 4.55 million AED (Rs.9.20 Crores) during the year.

HPCL LNG LIMITED

HPCL Shapoorji Energy Pvt. Ltd (HSEPL), floated as 50:50 joint venture between HPCL and SP Ports Pvt Ltd (SPPPL), became a 100% subsidiary of HPCL on 30th March 2021 subsequent to acquisition of 50% stake by HPCL from SPPPL. It is now a Public Limited Company and its name changed to HPCL LNG LIMITED effective 10th September 2021.

HPCL LNG LIMITED has been formed to build and operate a 5 MMTPA LNG regasification terminal at Chhara Port in Gir Somnath district of Gujarat. Major facilities at LNG terminal include marine facilities for berthing and unloading of LNG carrier, storage tanks, regasification facilities and associated utilities.

The project is under execution at site. Construction of 2 LNG storage tanks, regasification facilities, jetty facilities, other associated facilities, etc, are in progress at site.

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