Name: Latest research reports of Hindustan Petroleum Corporation Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Hindustan Petroleum Corporation Ltd.
Rating: 5
Author: ICICI Securities Limited

Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report	Discuss
	03 Sep 2025	Hindustan Petroleum	Consensus Share Price Target	387.25	458.93	-	18.51	buy	pdf Detailed Estimates
	03 Aug 2023	Hindustan Petroleum	ICICI Securities Limited Target	387.25	355.00	276.30 (40.16%)	Target met	Buy	pdf post cache	Broker Report FY24E-FY25 to see stronger recovery with sharp rise in refining throughput ICICI Securities Limited Hindustan Petroleum’s (HPCL) recurring standalone EBITDA / PAT for Q1FY24 came in at INR 86.6bn / INR 54.6bn, up 81%/70% QoQ, respectively (Q1FY23 saw huge losses for HPCL) vs our estimates of EBITDA of INR 83bn and PAT of INR 52bn. The QoQ improvement was driven by higher refining throughput, strong marketing volumes and a 2x improvement in blended marketing margin (aided by retail fuel margin of INR 8.7/ltr, up 3.6x QoQ). pdf Copy Link Share on Share on Share on Share on Alert
	03 Aug 2023	Hindustan Petroleum	Prabhudas Lilladhar Reco Target	387.25	264.00	270.35 (43.24%)	Target met	Hold	pdf post cache	Broker Report HINDUSTAN PETROLEUM Prabhudas Lilladhar pdf Copy Link Share on Share on Share on Share on Alert
	03 Aug 2023	Hindustan Petroleum	Motilal Oswal Target	387.25	265.00	270.35 (43.24%)	Target met	Neutral	pdf post cache	Broker Report Weaker-than-expected GRM and marketing margins lead to miss Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	22 May 2023	Hindustan Petroleum	Geojit BNP Paribas Reco Target	387.25	299.00	255.50 (51.57%)	Target met	Buy	pdf post cache	Broker Report HINDUSTHAN PETROLIUM CORP. LTD Geojit BNP Paribas pdf Copy Link Share on Share on Share on Share on Alert
	16 May 2023	Hindustan Petroleum	ICICI Direct Reco Target	387.25	310.00	261.15 (48.29%)	Target met	Buy	pdf post cache	Broker Report Hindustan Petroleum Corp ICICI Direct pdf Copy Link Share on Share on Share on Share on Alert
	15 May 2023	Hindustan Petroleum	ICICI Securities Limited Target	387.25	315.00	260.75 (48.51%)	Target met	Buy	pdf post cache	Broker Report Strong end to FY23 augurs well for FY24E/FY25E ICICI Securities Limited HPCL’s recurring standalone EBITDA / PAT for Q4 came in at Rs48.0bn / Rs32.2bn, up 2.8x / 18.7x QoQ respectively (YoY up 129% / 80%) vs our estimates of EBITDA of Rs35.4bn and PAT of 15.5bn. Higher refining margins and lower ‘other opex’ drove the operational beat, with higher ‘other income’ boosting net earnings. pdf Copy Link Share on Share on Share on Share on Alert
	13 May 2023	Hindustan Petroleum	Motilal Oswal Target	387.25	270.00	260.75 (48.51%)	Target met	Neutral	pdf post cache	Broker Report Higher-than-expected GRM leads to a beat on our estimate Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	12 May 2023	Hindustan Petroleum	Sharekhan Target	387.25	300.00	261.15 (48.29%)	Target met	Buy	pdf post cache	Broker Report HINDPETRO Sharekhan pdf Copy Link Share on Share on Share on Share on Alert
	10 Feb 2023	Hindustan Petroleum	Sharekhan Target	387.25	265.00	226.85 (70.71%)	Target met	Buy	pdf post cache	Broker Report HINDPETRO Sharekhan pdf Copy Link Share on Share on Share on Share on Alert
	10 Feb 2023	Hindustan Petroleum	ICICI Securities Limited Reco Target	387.25	275.00	232.80 (66.34%)	Target met	Buy	pdf post cache	Broker Report Operating metrics improve materially, but FY23E still heading for a loss ICICI Securities Limited Hindustan Petroleum Corporation’s (HPCL) Q3FY23 operating performance was stronger sequentially, with recurring EBITDA of Rs16.7bn and net earnings of Rs1.7bn vs I-Sec estimates of Rs8.2bn operating profit and Rs5.7bn net loss (Q3FY22 EBITDA/PAT was at Rs18.7bn/8.7bn). pdf Copy Link Share on Share on Share on Share on Alert
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34.67% Gain from 52W Low

Hindustan Petroleum Corporation Ltd. share price target

Hindustan Petroleum Corporation Ltd. has an average share price target of 479. The consensus estimate represents an upside of 23.69% from the last price of 387.25. View 10 reports from 5 analysts offering long-term price targets for Hindustan Petroleum Corporation Ltd..

FY24E-FY25 to see stronger recovery with sharp rise in refining throughput

HINDUSTAN PETROLEUM

Weaker-than-expected GRM and marketing margins lead to miss

HINDUSTHAN PETROLIUM CORP. LTD

Hindustan Petroleum Corp

Strong end to FY23 augurs well for FY24E/FY25E

Higher-than-expected GRM leads to a beat on our estimate

HINDPETRO

HINDPETRO

Operating metrics improve materially, but FY23E still heading for a loss

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