HPCL 2015-16 results - Standalone Profit up by 41% - Consolidated Profit up by 228%
Hindustan Petroleum Corporation Ltd (HPCL), ranked at 327 in Fortune Global 500 list and 133 in the list of Platts Top 250 Global Energy Companies in the year 2015, has registered excellent physical and financial performance in the year 2015-16. The Corporation achieved a bottom line growth in PAT of 41%. Profit after tax on standalone basis stood at Rs.3,863 crores with Gross sales of Rs.1,97,744 crores.
During the period April - March 2016, the refineries have achieved highest ever Crude thruput of 17.23 million tonnes, which is 116% of the total installed capacity, as against 16.18 million tonnes during corresponding previous period April - March, 2015. The refineries produced highest ever MS (3.03 million tonnes), HSD (6.5 million tonnes), and Lube Oil Base Stock (528 thousand tonnes). This remarkable physical performance by the refineries has resulted in a healthy combined Gross Refining Margin of $ 6.68 per barrel during the FY 2015-16 as compared to $ 2.84 per barrel in the corresponding previous year period.
Our Marketing Division recorded highest ever domestic sales of 33.84 million tonnes during the year ending March 2016 with an impressive growth rate of 9.3% as against the Industry (PSU) growth of 7.7%. This remarkable growth has led to a market share gain of 0.32% to reach market share of 21.3% in the PSU category. The sales of Motor Spirit (Petrol) increased by 14.4%, High Speed Diesel by 6.5%, Aviation Turbine Fuel by 20.6%, Lubes by 20.4% and that of Bitumen by 26.7% contributing to the inspiring overall growth during the year.
The Retail segment maintained growth leadership both in MS and HSD (PSU) and registered a market share gain of 0.4% on Total Motor Fuels. Industrial & consumer segment recorded commendable growth of 23.4% improving the market share by 0.9% among PSUs. In the highly competitive Lube segment, HPCL continued to be the No. 1 Lube marketer and consolidating HPCL's position by increasing market share by 2.6%. The Aviation segment grew remarkably at a higher growth rate of 20.6% as against Industry (PSU) growth of 5.8%. HPCL's Pipeline division achieved highest ever throughput of 17.61 million tonnes during April - March 2016.
During the Financial year 2015-16, the Profit after Tax was Rs.3,863 crores as against a profit of Rs.2,733 crores during the previous year - an impressive growth of 41%. The increase in profit is primarily due to superior refinery performance on reliability metrics, improved refining margins, and higher domestic market sales. The EBIDTA of the Corporation stood at Rs.9,045 crores during 2015-16 as against Rs.6,832 crores during previous year, recording an increase of 32%. Earnings per Share stood at Rs.114.07 during the current year as against Rs.80.72 during the previous year on standalone basis.
For the quarter ended 31st March 2016, the domestic sales of petroleum products have increased to 9.01 million tonnes registering a growth of 11.7% over the corresponding previous quarter. The refineries achieved an all-time high quarterly crude thruput of 4.70 million tonnes.
On the financial front, the combined Gross Refining Margin during Q4, 2015-16 was $ 7.51 per barrel as against $ 7.47 per barrel in the corresponding previous quarter. This, along with a strong physical performance, translated into the Corporation achieving a healthy Profit after tax for the period January - March, 2016 of Rs.1,553 crores. The EBIDTA for the quarter ended 31st March 2016 stood at Rs.3,069 crores.
HPCL on a consolidated basis, recorded impressive Profit After Tax of Rs.4,921 crores during the financial year 2015-16 as against Rs.1,499 crores in the previous year - which is a growth of 228%. Earnings per Share stood at Rs.145.34 during 2015-16 as against Rs.44.25 for the previous year on a consolidated basis.
For the year 2015-16, HPCL has proposed a final dividend of Rs. 16 per share which combined with two Interim Dividends of Rs. 18.50 per share totalled to a dividend of Rs.34.50 per share (345%) as against Rs.24.50 per share (245%) in the previous year. The dividend along with Interim dividend would result in a total payout of Rs.1406 crores including dividend distribution tax.
HPCL has successfully implemented PAHAL (Direct Benefit Transfer of LPG Subsidy) Scheme with 4.02 Crores of active HP gas customers joining the initiative as of 31st March, 2016. Under #GiveItUp campaign, over 27 lakh HP Gas customers voluntarily gave up LPG Subsidy and the amount thus saved has benefitted over 13 Lakh BPL families as of 31st March 2016.
HPCL has taken a number of customer centric initiatives like On-line enrollment, tracking and refill payment facilities for LPG customers, HP Re-Fuel Card for retail customers during 2015-16. New products like HPGas Razor Pro - Metal cutting gas, HPGas Powerlift - Gas for forklifts, marketing of - 450 kg LPG cylinders in name SUMO and in the Lubes segment, Milcy Turbo Ultra, Racer 4 Synthetic and Neosynth 5W30 were launched during the year.
During 2015-16, HPCL commissioned 443 Km long Rewari-Kanpur product pipeline ahead of schedule, taking the total product pipeline network to 3015 km. To augment supply infrastructure, a new POL terminal at Kanpur (Uttar Pradesh) and a new depot at Bokaro (Jharkhand) were commissioned. Two new Aviation Service Facilities (ASFs) at Chandigarh and Dharamshala were also commissioned during 2015-16.
HPCL has undertaken various CSR initiatives to help and touch lives of people in the areas of Health, Child care, Education, Skill development, Environment and Community Development with an overall expenditure of Rs.71.76 crore during the year.
HPCL has carried the "Swachh Bharat" campaign in right earnest and promoted the spirit of hygiene and cleanliness at workplaces and surroundings during 2015-16 through a multitude of initiatives, activities and campaigns in different parts of the country. Under Swachh Vidyalaya program, HPCL has completed construction of toilets in 1245 schools as of Mar'16.
In recognition of excellence in performance, HPCL has been recognized at various International and National forums with Awards for its achievements.