The oil and gas industry has had substantial difficulties recently as the globe continues to move towards cleaner and renewable energy sources. One of India’s leading oil refining and marketing firms, Hindustan Petroleum Corporation Limited (HPCL), has managed to weather the storm and is still a major force in the sector.
HPCL also shared its Q3 FY2024 earnings recently which we will also be discussing in this article later.
Based on all these and HPCL financials, we will check the HPCL price prediction for 2024 to 2030. Is it wise to purchase the company’s stock? 
Stock history of Hindustan Petroleum Corporation
Hindustan Petroleum Corporation Limited (HPCL) was established in 1974, following the merger of Esso Standard and Lube India Limited. The business dominates the downstream oil and gas market in India, engaging in activities across the whole value chain, including refining, marketing, and transportation.
The history of HPCL’s stock has been affected by several market factors over time, including changes in national and international crude oil prices, as well as laws and regulations. Early in the new millennium, HPCL’s stock price increased significantly as a result of favorable government policies and rising petroleum product demand in India. The business went public in 2005, and shares of it are now traded on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
HPCL has faced inconsistent stock performance in recent years due to the challenges confronting the oil and gas industry. The company’s share price witnessed a significant drop in 2020 in line with the global economic downturn caused by the COVID-19 pandemic and the Russia-Ukrainian war in 2022/23. However, HPCL has since made a recovery, and its share price has shown signs of growth.
The company has made substantial investments in modernizing its refineries, expanding its marketing network, and exploring new business opportunities in sectors such as renewable energy.
Hindustan Petroleum Corporation Limited Q3 FY23-24 Financial Highlights
- Standalone Profit Surge: HPCL’s standalone net profit witnessed remarkable growth, soaring over 3-fold to Rs 529 crore compared to Rs 172 crore in the same quarter last year.
- Total Income Increase: The company’s standalone total income for Q3FY24 rose by 2 percent year-on-year, reaching Rs 1.18 lakh crore from Rs 1.16 lakh crore in the corresponding period last year.
- Revenue Composition: Downstream petroleum revenue played a significant role in contributing to the total income.
- Operating Margin Expansion: HPCL’s operating margin expanded by 22 basis points (bps) year-on-year, reaching 0.7 percent in Q3FY24, up from 0.4 percent in the year-ago period.
- Sales Performance: Domestic sales experienced a 3 percent year-on-year growth, reaching 11.3 million metric tonnes in Q3FY24. Meanwhile, exports witnessed an 80 percent year-on-year surge to 0.54 million metric tonnes during the same quarter.
- Stock Performance: Over the past year, HPCL’s stock demonstrated strong performance, surging over 79 percent, outpacing the benchmark Sensex’s rise of 17 percent.
Below are the trading platforms that you can use to purchase Hindustan Petroleum Corporation shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| January 2024 | 465.48 | 404.77 |
| February 2024 | 474.98 | 413.03 |
| March 2024 | 484.67 | 421.45 |
| April 2024 | 470.56 | 409.18 |
| May 2024 | 463.60 | 403.13 |
| June 2024 | 480.29 | 417.65 |
| July 2024 | 475.49 | 413.47 |
| August 2024 | 494.51 | 430.01 |
| September 2024 | 514.29 | 447.21 |
| October 2024 | 504.20 | 438.44 |
| November 2024 | 519.33 | 451.59 |
| December 2024 | 532.31 | 462.88 |
Hindustan Petroleum Corporation’s share price is anticipated to display a gradual upward trajectory throughout 2024, according to the provided targets. Starting at a minimum of ₹404.77 in January, the share price is expected to reach a maximum of ₹532.31 by December.
As of January 25, 2024, the current price stands at ₹431, with a high/low range of ₹479/212. The company’s market cap is ₹61,083 Cr., and it boasts a favorable stock P/E of 3.61, a book value of ₹318, and a dividend yield of 3.48%.
| When | Maximum Price | Minimum Price |
| January 2025 | 542.96 | 417.66 |
| February 2025 | 556.88 | 428.37 |
| March 2025 | 578.60 | 445.08 |
| April 2025 | 567.26 | 436.35 |
| May 2025 | 550.73 | 423.64 |
| June 2025 | 575.52 | 442.71 |
| July 2025 | 564.23 | 434.02 |
| August 2025 | 581.68 | 447.45 |
| September 2025 | 602.04 | 463.11 |
| October 2025 | 617.69 | 475.15 |
| November 2025 | 633.14 | 487.03 |
| December 2025 | 648.97 | 499.20 |
HPCL’s maximum price predicted for December 2025 is ₹648.97, while the minimum price expected is ₹417.66 in January 2025.
| When | Maximum Price | Minimum Price |
| January 2026 | 668.43 | 514.18 |
| February 2026 | 685.57 | 527.36 |
| March 2026 | 712.31 | 547.93 |
| April 2026 | 698.34 | 537.19 |
| May 2026 | 678.00 | 521.54 |
| June 2026 | 708.51 | 545.01 |
| July 2026 | 694.62 | 534.32 |
| August 2026 | 716.11 | 550.85 |
| September 2026 | 741.17 | 570.13 |
| October 2026 | 760.44 | 584.95 |
| November 2026 | 779.45 | 599.58 |
| December 2026 | 798.94 | 614.57 |
HPCL in 2026 is expected to trade in between ₹514.18 and ₹798.94.
| When | Maximum Price | Minimum Price |
| January 2027 | 814.92 | 626.86 |
| February 2027 | 835.81 | 642.93 |
| March 2027 | 868.41 | 668.01 |
| April 2027 | 851.38 | 654.91 |
| May 2027 | 826.58 | 635.83 |
| June 2027 | 863.78 | 664.44 |
| July 2027 | 846.84 | 651.42 |
| August 2027 | 873.03 | 671.56 |
| September 2027 | 903.59 | 695.07 |
| October 2027 | 927.08 | 713.14 |
| November 2027 | 950.26 | 730.97 |
| December 2027 | 974.02 | 749.24 |
| When | Maximum Price | Minimum Price |
| January 2028 | 993.50 | 764.23 |
| February 2028 | 1,018.97 | 783.82 |
| March 2028 | 1,058.71 | 814.39 |
| April 2028 | 1,037.95 | 798.42 |
| May 2028 | 1,007.72 | 775.17 |
| June 2028 | 1,053.07 | 810.05 |
| July 2028 | 1,032.42 | 794.17 |
| August 2028 | 1,064.35 | 818.73 |
| September 2028 | 1,101.60 | 847.39 |
| October 2028 | 1,130.24 | 869.42 |
| November 2028 | 1,158.50 | 891.15 |
| December 2028 | 1,187.46 | 913.43 |
| When | Maximum Price | Minimum Price |
| January 2029 | 1,211.21 | 931.70 |
| February 2029 | 1,242.27 | 955.59 |
| March 2029 | 1,290.72 | 992.86 |
| April 2029 | 1,265.41 | 973.39 |
| May 2029 | 1,228.55 | 945.04 |
| June 2029 | 1,283.84 | 987.57 |
| July 2029 | 1,258.66 | 968.20 |
| August 2029 | 1,297.59 | 998.15 |
| September 2029 | 1,343.01 | 1,033.08 |
| October 2029 | 1,377.92 | 1,059.94 |
| November 2029 | 1,412.37 | 1,086.44 |
| December 2029 | 1,447.68 | 1,113.60 |
| When | Maximum Price | Minimum Price |
| January 2030 | 1,476.63 | 1,135.87 |
| February 2030 | 1,514.50 | 1,165.00 |
| March 2030 | 1,573.56 | 1,210.43 |
| April 2030 | 1,542.71 | 1,186.70 |
| May 2030 | 1,497.78 | 1,152.13 |
| June 2030 | 1,565.17 | 1,203.98 |
| July 2030 | 1,534.49 | 1,180.37 |
| August 2030 | 1,581.94 | 1,216.88 |
| September 2030 | 1,637.31 | 1,259.47 |
| October 2030 | 1,679.88 | 1,292.22 |
| November 2030 | 1,721.88 | 1,324.52 |
| December 2030 | 1,764.93 | 1,357.64 |
Financial Condition of Hindustan Petroleum Corporation: Last 5 years
| Mar 2019 |
Mar 2020 |
Mar 2021 |
Mar 2022 |
Mar 2023 |
TTM | |
|---|---|---|---|---|---|---|
| Sales + (Crore Rs.) |
275,491 | 269,092 | 233,248 | 349,913 | 440,709 | 438,286 |
| Expenses + (Crore Rs.) |
263,963 | 263,887 | 217,194 | 339,669 | 447,901 | 423,607 |
| Operating Profit (Crore Rs.) |
11,527 | 5,204 | 16,055 | 10,244 | -7,192 | 14,679 |
| OPM % | 4% | 2% | 7% | 3% | -2% | 3% |
| Other Income + (Crore Rs.) |
2,383 | 679 | 2,731 | 3,897 | 3,942 | 3,501 |
| Interest (Crore Rs.) |
786 | 1,139 | 963 | 997 | 2,174 | 2,461 |
| Depreciation (Crore Rs.) |
3,085 | 3,370 | 3,625 | 4,000 | 4,560 | 4,826 |
| Profit before tax (Crore Rs.) |
10,039 | 1,374 | 14,197 | 9,144 | -9,984 | 10,894 |
| Tax % | 33% | -92% | 25% | 20% | 30% | |
| Net Profit + (Crore Rs.) |
6,691 | 2,639 | 10,663 | 7,294 | -6,980 | 8,342 |
| EPS in Rs | 43.91 | 17.32 | 73.24 | 51.42 | -49.21 | 58.81 |
| Dividend Payout % | 36% | 56% | 31% | 27% | 0% |
Anand Rathi recommends purchasing Hindustan Petroleum Corporation with a target price set at Rs 443.
FAQS
By the end of 2024, it is expected that the per-share price of Hindustan Petroleum Corporation will rise to ₹532.31.
The share price target of Hindustan Petroleum Corporation for 2025 might be around ₹648.97
By the end of 2030, the share price of Hindustan Petroleum Corporation is expected to reach approximately ₹1,764.93 per share.
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Conclusion
In conclusion, Hindustan Petroleum Corporation Limited (HPCL) has adeptly faced challenges in the evolving oil and gas industry, showcasing resilience and strategic foresight. The Q3 FY2024 earnings report, reflecting a remarkable 3-fold surge in standalone net profit, underscores the company’s steadfast performance. HPCL’s proactive investments in refinery modernization and ventures into renewable energy align with industry trends.
Anand Rathi’s optimistic target price of Rs 443 reinforces confidence in the company’s trajectory. The share price projections for 2024 to 2030 suggest a potential upward trend, with the current market cap at ₹61,083 Cr., a favorable P/E ratio, and a notable dividend yield of 3.48%. Amidst the global shift towards cleaner energy, HPCL emerges as a promising investment prospect, poised for sustained growth.
What did we learn?
- 1 Stock history of Hindustan Petroleum Corporation
- 2 Hindustan Petroleum Corporation Limited Q3 FY23-24 Financial Highlights
- 3 How to purchase Hindustan Petroleum Corporation shares?
- 4 Hindustan Petroleum Corporation Share Price Prediction: 2024 to 2030
- 4.1 Hindustan Petroleum Corporation Share Price Target 2024
- 4.2 Hindustan Petroleum Corporation Share Price Target 2025
- 4.3 Hindustan Petroleum Corporation Share Price Target 2026
- 4.4 Hindustan Petroleum Corporation Share Price Target 2027
- 4.5 Hindustan Petroleum Corporation Share Price Target 2028
- 4.6 Hindustan Petroleum Corporation Share Price Target 2029
- 4.7 Hindustan Petroleum Corporation Share Price Target 2030
- 5 Financial Condition of Hindustan Petroleum Corporation: Last 5 years
- 6 Anand Rathi’s target for the share price of Hindustan Petroleum Corporation
- 7 FAQS
- 8 Conclusion
