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HPCL also conducts business through 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 pipeline, City Gas Distribution (CGD), LPG cavern, LNG terminal, Aviation fuel farm facilities, and biofuels. The brief about the performance of Joint Ventures and Subsidiaries during the year 2022-23 is given below:
HPCL LNG LIMITED - (Click here)
HPCL-Mittal Energy Ltd. (HMEL) is a joint venture between HPCL and Mittal Energy Investments Pte. Ltd., Singapore, with an 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, and marketing. It owns and operates an 11.3 MMTPA Guru Gobind Singh Refinery (‘GGSR’) at Bathinda, Punjab, which produces refined petroleum products. HMEL has set up a petrochemical facility, the Guru Gobind Singh Polymer Addition Project (`GGSPAP'), within the existing GGSR premises at Bathinda, Punjab. The complex comprises a 1.2 MMTPA multi-feed world-class cracker unit along with associated downstream polymer units which produce LLDPE, HDPE, butene, and polypropylene (PP). HMEL now has a combined capacity of 2.2 MMTPA of polymers, which includes world-class grades of HDPE, LLDPE, PP-HP, PP-RCP, and PP-ICP.
GGSPAP would increase the oil-to-chemicals ratio for HMEL while diversifying the offering to include petrochemicals, reducing its dependence on a single commodity cycle of fuel products.
During 2022-23, the company achieved a crude throughput of 12.735 MMT. Consolidated total revenue of ₹ 96,285 Crore and PAT of ₹ 4,898.60 Crore have been achieved during the year. HMEL paid an interim dividend of 12.69% for 2022-23.
As part of its focus on creating long-term value for its stakeholders, HMEL is developing a roadmap to integrate ESG (Environment, Social & Governance) aspects with its business objectives. HMEL is also executing a 300 KLPD grain-based bioethanol plant with 1G technology at Bathinda. Construction activities have commenced during 2022-23.
Link to website of HPCL-Mittal Energy Ltd. (HMEL)
HINCOL is a Joint Venture of HPCL and Colas S.A., France, with an equity shareholding of 50% each. HINCOL is engaged in the manufacturing and marketing of bitumen derivatives, which are widely used in road/airfield construction in India. In addition to bitumen derivatives, it also carries out niche road maintenance activities like micro surfacing and slurry sealing. HINCOL owns and operates 10 strategically located manufacturing plants complying with the requirements of International Standards ISO 9001:2015, 14001:2015, and 45001:2018.
During 2022-23, HINCOL recorded a sale of 307 TMT and achieved a consolidated total revenue of ₹1,537 Crore and a PAT of ₹155.35 Crore. HINCOL has been paying dividends for the last 23 years. HINCOL paid an interim dividend of 1000% for 2022-23.
During the year, HINCOL developed new products ‘Bond Coat’ (for Tack coat applications), Road Seal (for sealing concrete joints), CAM Emulsion (for Cement Asphalt Mortar to be used in Bullet Train project), Chip Seal Emulsion (for surface treatment of low traffic Roads) and customized Performance Grade Bitumen for various customers.
HINCOL commenced its operations at the new bitumen storage terminal at Haldia Port during 2022-23. The company is in the final stages of completing the construction of its new bitumen storage terminal project at Mangalore Port.
Link to website of Hindustan Colas Pvt.Ltd. (HINCOL)
SALPG is a joint venture between HPCL and Total Energies Marketing Holdings India, with equity holdings of 50% each. SALPG owns and operates an underground LPG cavern with 60 TMT capacity and associated receiving and dispatch facilities at Visakhapatnam.
During 2022-23, SALPG achieved a throughput of 1.54 MMT. SALPG has achieved total revenue of ₹164 Crore and recorded a PAT of ₹ 80.69 Crore.
SALPG has been continuously paying dividends for the last 13 years. SALPG paid an interim dividend of 20% and recommended a final dividend of 55% for 2022-23.
SALPG bagged the EHS Excellence Award-2022 as a sectoral topper gold award in storage and distribution from the CII-SR (Confederation of Indian Industry Southern Region)
Link to website of South Asia LPG Co Pvt. Ltd. (SALPG)
Bhagyanagar Gas Ltd. (BGL) is a Joint Venture of HPCL and GAIL with equal equity holdings of 48.73% each.
BGL has a CGD network comprising 2,434 km of MDPE pipeline and 182 km of steel pipeline and has provided 3,00,563 domestic connections. BGL also operates 135 CNG stations in the cities of Hyderabad, Vijayawada, and Kakinada in the states of Andhra Pradesh and Telangana.
During 2022-23, BGL has achieved sales volumes of 40,953 MT of CNG and 298.20 Lakh Standard Cubic Metres (SCM) of PNG. BGL has recorded total revenue of ₹ 447 Crore and PAT of ₹ 3.52 Crore during the year.
Link to website of Bhagyanagar Gas Ltd. (BGL)
Aavantika Gas Ltd. (AGL) is a Joint Venture of HPCL and GAIL with equal equity holdings of 49.99% each.
AGL has a CGD network comprising 2,835 km of MDPE pipeline and 106 km of steel pipeline and has provided 1,42,023 domestic connections. AGL also operates 100 CNG stations in the cities of Indore, Ujjain, Pithampur, and Gwalior in the state of Madhya Pradesh.
During 2022-23, AGL has achieved sales volumes of 42,289 MT of CNG and 565.15 Lakh SCM of PNG. During the year, AGL commenced the sale of CBG and sold 849.40 MT of CBG. AGL has also reported total revenue of ₹ 633 Crore and PAT of ₹ 58.93 Crore during the year.
During the year, AGL has been awarded ‘CGD Company of the Year 2022’ by ET Energy World.
Link to website of Aavantika Gas Ltd. (AGL)
PMHBL is a Joint Venture of HPCL and ONGC, with equal equity holdings 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 2022-23, PMHBL achieved a throughput of 3.89 MMT and reported total revenue of ₹ 168 Crore and a PAT of ₹ 84.72 Crore.
PMHBL Integrated Management System (IMS) is certified for Quality Management System-ISO-9001:2015, Environmental Management System-ISO-14001:2015, OHSMS ISO–18001:2018, and Energy Management System ISO-50001-2018. The company deployed various updated technologies and solutions for its operations as per international standards.
PMHBL paid an interim dividend of 14.6% for 2022-23.
Link to website of Petronet MHB Ltd. (PMHBL)
MRPL is a Joint Venture of HPCL and ONGC, wherein ONGC holds 71.63% of equity, HPCL holds 16.96% equity, and the balance of equity is held by the public. MRPL is a Schedule ‘A’ Miniratna, Central Public Sector Enterprise (CPSE), and operates a 15 MMTPA refinery at Mangaluru in Karnataka.
During 2022-23, MRPL achieved its highest-ever crude throughput of 17.1 MMT. This translates to a refinery capacity utilization of 114%. Erstwhile subsidiary OMPL was merged with MRPL with an effective date of 1st May, 2022.
MRPL recorded consolidated total revenue of ₹ 1,24,926 Crore and PAT of ₹ 2,655.41 Crore.
Link to website of Mangalore Refineries and Petrochemicals Ltd. (MRPL)
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 holdings of 25% each.
The company has constructed, commissioned, and is operating a new Integrated Fuel Farm (IFF) facility at Mumbai Airport on an open-access basis. The business of the company is to operate & maintain aviation fuel farm facilities and to provide Into Plane services at Chhatrapati Shivaji Maharaj International Airport (CSMIA), Mumbai.
MAFFFL achieved a throughput of 12.12 lakh KL during 2022-23, registering a growth of 62% over the previous year. The company has registered total revenue of ₹ 115 Crore and PAT of ₹ 32.01 Crore during 2022-23.
Link to website ofMumbai Aviation Fuel Farm Facility Pvt. Ltd. (MAFFFL)
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 the balance of equity is held by GSPL (52%), IOCL (26%), and BPCL (11%).
GIGL has been authorized to lay two cross-country gas pipelines: the Mehsana-Bathinda Pipeline (MBPL) and the Bathinda-Jammu-Srinagar Pipeline (BJSPL). PNGRB has approved the foreclosure of BJSPL at Gurdaspur, which will now be the Bathinda-Gurdaspur Pipeline (BGPL).
The initial sections of the projects, viz., Barmer-Pali Pipeline, Palanpur-Pali Pipeline, and Jalandhar-Amritsar Pipeline, are in operation from 2018-19 onwards. GIGL has successfully commissioned all sections of the MBPL-Phase II Project except Section V. During 2022-23, the company transported about 1,242.26 MMSCM of gas and recorded total revenue of ₹ 225 Crore.
Link to website ofGSPL India Gasnet Ltd. (GIGL)
GSPL India Transco Ltd. (GITL) is a Joint Venture of GSPL, IOCL, BPCL, and HPCL. HPCL has 11% equity participation in the company, and the balance of equity is held by GSPL (52%), IOCL (26%), and BPCL (11%).
GITL has been authorized to lay an 1,881 km pipeline from Mallavaram to Bhilwara. The initial section of the project from Reliance Gas Transmission India Limited's interconnection point at Kunchanapalli to Ramagundam Fertilisers & Chemicals Limited’s plant at Ramagundam has been commissioned in 2019-20. During 2022-23, the company transported 586 MMSCM of gas and earned revenue of ₹113 Crore through transportation.
Link to website of GSPL India Transco Ltd. (GITL)
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 a CGD network in the East Godavari and West Godavari districts of Andhra Pradesh. GGPL has a CGD network comprising 640 km of MDPE pipeline and 110 km of steel pipeline and has provided 1,00,907 domestic connections. GGPL also operates 33 CNG stations and 1 MS/HSD retail outlet (HPCL Dealership) in the East Godavari and West Godavari districts of Andhra Pradesh.
During 2022-23, GGPL achieved sales volumes of 2,734 MT of CNG, 71.53 lakh SCM of PNG, and 656 KL of MS and HSD. GGPL recorded total revenue of ₹ 61 Crore during the year.
Link to website of Godavari Gas Pvt. Ltd. (GGPL)
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 an integrated refinery cum petrochemical complex at the 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 are in progress.
Link to website of Ratnagiri Refinery and Petrochemicals Ltd. (RRPCL)
HPOIL Gas Pvt. Ltd. (HOGPL) is a Joint Venture between HPCL and OIL India Ltd. (OIL) with equity shareholdings of 50% each.
HOGPL has been formed to develop and operate CGD networks in the 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 923 km of MDPE pipeline and 168 km of steel pipeline and has provided 47,217 domestic connections. HOGPL also operates 2 City Gate Stations and 40 CNG stations in the geographical areas of Ambala-Kurukshetra districts in the state of Haryana and Kolhapur district in the state of Maharashtra.
During 2022-23, HOGPL achieved a sales volume of 14,419 MT of CNG, registering a growth of 122% over the previous year. HOGPL also achieved a sales volume of 15.84 lakh SCM in PNG, registering a growth of 994% over the previous year. HOGPL recorded total revenue of Rs.131 Crore and PAT of Rs.6.64 Crore during the year.
Link to website of HPOIL Gas Pvt. Ltd. (HOGPL)
IHB Ltd. (IHBL) is a Joint Venture company promoted by IOCL, BPCL, and HPCL with equity participation in the ratio of 50:25:25.
IHBL was incorporated to construct, operate and manage the ~2,800 km long Kandla-Gorakhpur LPG Pipeline, the longest LPG pipeline in the world, for meeting the LPG demand of the bottling plants en route to the pipeline in Gujarat, Madhya Pradesh, and Uttar Pradesh. The project is progressing at a steady pace.
Link to website of IHB Pvt. Ltd. (IHBPL)
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 the management of E&P blocks. PPCL has a wholly owned subsidiary, namely Prize Petroleum International Pte Ltd. (PPIPL), incorporated in Singapore. PPIPL has participation interests 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 2022-23, PPIPL achieved its share of production of 114,106 BoE (Barrels of Oil Equivalent) from the Yolla producing field (T/L1).
During 2022-23, PPCL recorded total revenue of ₹ 51 Crore on a consolidated basis.
Link to website of Prize Petroleum Co. Ltd. (PPCL)
HBL is a wholly owned subsidiary company of HPCL. HBL was promoted as a backward integration initiative to enable HPCL’s foray into the manufacturing of ethanol for blending in Petrol. HBL has two integrated Sugar-Ethanol-Cogeneration plants in the Sugauli and Lauriya districts in the state of Bihar.
During 2022-23, HBL recorded total revenue of ₹ 302.61 Crore and the highest cane crushing of 852.86 TMT. HBL achieved the highest ever sugar production of 72,152 MT, the highest ever ethanol production of 14,967 KL, and power generation of 68,056 MWh during 2022-23. HBL also achieved its highest-ever domestic sales of sugar of 65,002 MT during 2022-23. 5,728 MT of sugar was exported to Zambia, Sudan, and Nepal during 2022-23. HBL is in the early stages of expanding its distillation and allied facilities to produce ethanol out of grains and farm feed.
Link to website of HPCL Biofuels Ltd. (HBL)
HRRL is a joint venture of HPCL and the Government of Rajasthan, with 74% equity participation by HPCL and 26% by the Government of Rajasthan. HRRL is setting up a 9 MMTPA greenfield refinery and petrochemical complex in the state of Rajasthan. The capacity includes 2.4 MMTPA of petrochemicals of various grades.
Orders for major process units & packages have been placed, and construction of various process units and packages is in progress. The fabrication and laying of three cross-country pipelines are in progress. Fabrication has been completed for seven out of eight long-lead items and six long-lead items have been received and installed at the site. HRRL achieved 133 million man-hours of safe construction operations as of 31st March, 2023.
Link to website of HPCL Rajasthan Refinery Ltd. (HRRL)
HPCL Middle East FZCO (HMEF), a wholly owned subsidiary of HPCL, markets lubricants and other petroleum products across various markets in the Middle East and Africa. The company is registered under the Dubai Airport Free Zone Authority (DAFZA) and has a trade license for trading in lubricants and greases, petrochemicals, and refined oil products.
HMEF has registered a sale of 1,221 MT of value-added lubricants, recording a growth of 20% over the previous year with a total revenue of 9.03 Million AED (₹ 19.8 Crore) during the year.
HPCL LNG Limited (HPLNG), erstwhile HPCL Shapoorji Energy Private Limited (HSEPL), became a 100% subsidiary of HPCL on 30th March, 2021, subsequent to the acquisition of a 50% stake from SP Ports Private Limited (SPPPL). The company was converted into a public limited company effective 10th September, 2021, and its name was changed to HPCL LNG Limited.
The company has been formed to build and operate a 5 MMTPA greenfield LNG regasification terminal at Chhara Port in the Gir Somnath district of Gujarat. Major facilities at the LNG terminal include marine facilities for the berthing and unloading of LNG carriers, storage tanks, regasification facilities, and associated utilities.
The mechanical completion of the terminal was achieved in March 2023.
Link to website of HPCL LNG LIMITED
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