HPCL shares recover from lows as Q4 profit beats estimates

Shares of Hindustan Petroleum Corporation Limited (HPCL) recovered from intraday lows on Wednesday after the company reported stronger-than-expected Q4 FY26 earnings.

HPCL shares were trading 2.27% higher at ₹378.30 on the NSE at around 12:11 PM after hitting an intraday high of ₹381.55. The stock had opened at ₹372.40 against the previous close of ₹369.90.

The rally in the stock came after the state-run oil marketing company posted a standalone net profit of ₹4,901.50 crore for the quarter ended March 31, 2026, sharply higher than Street estimates of ₹2,120 crore. The company had reported a profit of ₹3,354.98 crore in the corresponding quarter last year. Revenue from operations stood flat at Rs 1.15 lakh crore during the quarter.

At the operating level, HPCL reported EBITDA of ₹8,978.43 crore in Q4 FY26, significantly ahead of analyst estimates of ₹3,335 crore. EBITDA margin stood at 7.82%, improving from 5.29% in the year-ago period.

HPCL also announced a final dividend of ₹19.25 per equity share of face value ₹10 each for FY26. This is in addition to the interim dividend of ₹5 per share already paid during the financial year.

The company reported an average Gross Refining Margin (GRM) of US$ 8.79 per barrel for FY26 compared to US$ 5.74 per barrel in the previous year, supporting the improvement in profitability.