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 11.3 MMTPA Guru Gobind Singh Refinery (‘GGSR’) at Bathinda, Punjab, which produces refined petroleum products. During 2023-24, the Company successfully initiated commercial operations of its new petrochemical facility, the Guru Gobind Singh Polymer Addition Project (‘GGSPAP’), situated within the existing GGSR premises. GGSPAP features a state-of-the-art cracker with a capacity of 1.2 MMTPA, expandable to 1.5 MMTPA, enabling the utilization of low-value refinery gases, Naphtha and Kerosene. 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.

During 2023-24, the company achieved a crude throughput of 12.648 MMT. Consolidated total revenue of Rs.91,565.50 Crore and PAT of Rs.1,843.50 Crore have been achieved during the year. HMEL paid an interim dividend of 8% for 2023-24.

The Company's commitment to safety, health and environmental sustainability remains unwavering with ongoing initiatives and ESG integration efforts such as the execution of a 300 KLPD, 1G grain-based bio-ethanol plant at Bathinda and the installation of rooftop solar at GGSR.

Link to website of HPCL-Mittal Energy Ltd. (HMEL)

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 2023-24, SALPG achieved a throughput of 1.169 MMT. SALPG has achieved total revenue of Rs.126.44 Crore and recorded a PAT of Rs.54.38 Crore.

SALPG has been continuously paying dividends for last 14 years. SALPG paid an interim dividend of 45% for 2023-24.

Link to website of South Asia LPG Company Pvt. Ltd. (SALPG)

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/RL4 & T/RL5 and Production License TL5) respectively] in Australia. During 2023-24, PPIPL achieved its share of production of 95,108 BoE (Barrels of Oil Equivalent) from the Yolla producing field (T/L1).

During 2023-24, PPCL recorded total revenue of Rs.41.35 Crore on a consolidated basis.

Link to website of Prize Petroleum Company Ltd. (PPCL)

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 ten Bitumen Emulsion and Modified Bitumen plants located across the country and two Bitumen storage terminals at Haldia and New Mangalore Port. All HINCOL facilities are complying with the requirements of International standards such as ISO 9001:2015, 14001:2015 and 45001:2018 . The R&D Centre and Quality Control Laboratories are certified by the National Accreditation Board for Testing & Calibration Laboratories (NABL) for mechanical testing in accordance with ISO/IEC 17025:2005.

During 2023-24, HINCOL recorded a sale of 329 TMT and achieved highest ever paving of micro-surfacing area with paving of over 12 lakh sqm and consolidated total revenue of Rs.1,548.34 Crore and a PAT of Rs.129.85 Crore.

HINCOL paid an interim dividend of 500% for 2023-24.

Link to website of Hindustan Colas Pvt. Ltd. (HINCOL)

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.

The project is well progressing at site. All project facilitation construction activities are completed. 100% major purchase orders and contracts are in place for executing and completing the project and construction of various process units & packages is in progress. Fabrication and laying of raw water pipeline have been completed and works for crude pipeline is in progress. Fabrication completed for all the 8 long lead items and installation has also been completed for 7 items at site.

Link to website of HPCL Rajasthan Refinery Ltd. (HRRL)

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 2023-24, MRPL achieved crude throughput of 16.53 MMT. This translates to a refinery capacity utilization of 110%. MRPL is augmenting its Grid Power Infrastructure to enable import of a significant amount of grid power in future from renewable energy sources.

MRPL recorded consolidated total revenue of Rs.1,05,414.86 Crore and PAT of Rs.3,597.05 Crore. MRPL paid an interim dividend of 10% and recommended a final dividend of 20% for 2023-24.

Link to website of Mangalore Refinery and Petrochemicals Ltd. (MRPL)

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 Petrochemical Ltd. (RRPCL)

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 2023-24, HBL recorded total revenue of Rs.389.97 Crore and the cane crushing of 822.40 TMT. HBL achieved the highest ever sugar production of 75,784 MT, the highest ever ethanol production of 16,471 KL and power generation of 43,598 MWh during 2023-24. HBL also achieved its highest-ever domestic sales of sugar of 67,613 MT during 2023-24. 1,937 MT of sugar was exported to Zambia, Sudan and Nepal during 2023-24. HBL also achieved its highest-ever Ethanol sales of 18,979 KL during 2023-24.

During 2023-24, HBL achieved 81.8% production of Medium Grade sugar out of total sugar production, which helps in higher realisation. HBL became the first sugar mill in state of Bihar to trade/sell the power through IEX platform.

The expansion of its distillation and allied facilities to produce ethanol out of grains and farm feed is in progress.

Link to website of HPCL Biofuels Ltd. (HBL)

PMHBL is a Joint Venture of HPCL and ONGC, with equal equity holdings of 50% each. PMHBL owns and operates a multiproduct petroleum pipeline to transport MRPL refinery’s petroleum products to various parts of Karnataka.

During 2023-24, PMHBL achieved highest ever throughput of 4.05 MMT and reported total revenue of Rs.185.68 Crore and a PAT of Rs.96.26 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 16.35% for 2023-24.

Link to website of Petronet MHB Ltd. (PMHBL)

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 2,478 km of MDPE pipeline and 183 km of steel pipeline and has provided 3,16,046 domestic connections. BGL also operates 137 CNG stations in the cities of Hyderabad, Vijayawada and Kakinada in the states of Andhra Pradesh and Telangana.

During 2023-24, BGL has achieved sales volumes of 54,396 MT of CNG and 30.28 MMSCM of PNG. BGL has recorded total revenue of Rs.572.97 Crore and PAT of Rs.38.08 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 3042 km of MDPE pipeline and 111 km of steel pipeline and has provided 1,59,039 domestic connections. AGL also operates 116 CNG stations in the cities of Indore, Ujjain, Pithampur and Gwalior in the state of Madhya Pradesh.

During 2023-24, AGL has achieved sales volumes of 65.46 MMSCM of CNG and 65.31 MMSCM of PNG. During the year, AGL sold 1.58 MMSCM of CBG. AGL has also reported total revenue of Rs.725.65 Crore and PAT of Rs.75.83 Crore during the year.

AGL recommended a final dividend of 8.50% for FY 2023-24.

Link to website of Aavantika Gas Ltd. (AGL)

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 2023-24, the company transported about 2,109.18 MMSCM of gas and recorded total revenue of Rs.379.63 Crore.

Link to website of GSPL 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 1,881 km pipeline from Mallavaram to Bhilwara. The initial section of the project from Pipeline Infrastructure Limited’s (erstwhile Reliance) interconnection point at Kunchanapalli to Ramagundam Fertilisers & Chemicals Limited’s plant at Ramagundam has been commissioned in 2019-20. During 2023-24, the company transported 702 MMSCM of gas and earned revenue of Rs.111.58 Crore.

Link to website of GSPL India Transco Ltd. (GITL)

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 a CGD network in the East Godavari and West Godavari districts of Andhra Pradesh. GGPL has a CGD network comprising 642 km of MDPE pipeline and 111.2 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 2023-24, GGPL achieved sales volumes of 3,853 MT of CNG, 29.74 lakh SCM of PNG and 674 KL of MS & HSD. GGPL recorded total revenue of Rs.50.01 Crore during the year.

Link to website of Godavari Gas Pvt. Ltd. (GGPL)

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 1131 km of MDPE pipeline and 187 km of steel pipeline and has provided 40,696 domestic connections. HOGPL also operates 2 City Gate Stations and 49 CNG stations in the geographical areas of Ambala-Kurukshetra districts in the state of Haryana and Kolhapur district in the state of Maharashtra. HOGPL received an authorization letter for the Nagaland Geographical Area (GA) project in PNGRB’s 12th Bidding round.

During 2023-24, HOGPL achieved a sales volume of 19,693 MT of CNG, registering a growth of 37% over the previous year. HOGPL also achieved a sales volume of 52.948 lakh SCM in PNG, registering a growth of 234% over the previous year. During the year, the Company has recorded CBG sales of 17523 Kg. HOGPL had set a new record in CGD industry with 1,000 flame conversions of PNG in 24 Hours in rural panchayat, Morewadi.

HOGPL recorded total revenue of Rs.202.41 Crore and PAT of Rs.9.67 Crore during the year.

Link to website of HPOIL Gas Pvt. Ltd. (HOGPL)

HPCL LNG Limited (HPLNG) 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 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. Most pre-commissioning activities have been completed and all approvals for commissioning of the terminal have been received in the 2023-24.

Link to website of HPCL LNG Limited (HPLNG)

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

The Company has constructed and commissioned new integrated fuel farm facility (IFF) on an open access basis and is now engaged in operation and maintenance of the aviation fuel farm facilities including providing Into-plane services at Chhatrapati Shivaji Maharaj International Airport (CSMIA), Mumbai.

MAFFFL achieved a throughput of 16.25 lakh KL during 2023-24, registering a growth of 34% over the previous year. The company has registered total revenue of Rs.154.55 Crore and PAT of Rs.63.41 Crore during 2023-24. MAFFFL paid an interim dividend of 20% for 2023-24.

Link to website of Mumbai Aviation Fuel Farm Facility Pvt. Ltd. (MAFFFL)

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 1,551 MT of value-added lubricants, recording a growth of 27% over the previous year. The Company also sold 1,000 MT of refined oil products and thus registering total volume of 2,551 MT with a total revenue of 13.37 million AED (Rs.30.16 Crore) and PAT of 1,52,372 AED (Rs.0.34 Crore). The supply of 1,000 MT of refined oil products to the National Centre for Polar & Ocean Research, for the Antarctic expedition, marks a significant step and the first of its kind since the formation of HMEF, supporting the nation’s scientific research and exploration endeavors.

Link to website of HPCL Middle East FZCO (HMEF)

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 has now reached an advanced stage of completion.

Link to website of IHB Ltd. (IHBL)

HPCL Renewable & Green Energy Ltd (HPRGE) was incorporated on 19th January 2024 as a wholly owned subsidiary of HPCL for foraying into the green energy business and manage the portfolio of green energy businesses such as biofuels, renewables, green hydrogen, carbon offsets, green mobility and alternative energy businesses.

HPRGE is setting up solar power plants at Jhansi in Uttar Pradesh (5 MW) and Panipat in Haryana (6 MW) while further opportunities in green energy business are being explored through various initiatives. The company commenced renewable energy supply to HINCOL under the Renewable Energy Service Company Model (RESCO Model) for HINCOL Plant at Jhansi in March 2024.