HPCL - Q4FY20 Results - Angel Broking

Mr. Jyoti Roy, DVP Equity Strategist, Angel Broking Ltd

"Hindustan Petroleum Corporation (HPCL) reported a 2.1% YoY de-growth in consolidated revenues to Rs. 71,367 crore for Q4FY20, due to fall in domestic sales of products by 7.8% YoY to 9.25 million metric tons. During the quarter the company posted a consolidated loss before tax of Rs. 2,653 cr. against a profit before tax of Rs. 5,067 in Q4FY19. Consolidated net loss for the quarter stood at Rs. 27.6 cr as compared to profit of Rs. 3,340 cr in the corresponding quarter previous year.

During the quarter the company registered an inventory loss of Rs. 4,113 crore as crude pieces had collapsed sharply in March. Headline GRM's for the quarter stood at negative USD 1.23 per barrel though GRM's adjusted for inventory losses surprised positively at USD 9.37 per barrel as compared to USD 0.85 per barrel in Q4FY19. While the Q4FY20 numbers have come in ahead of street estimates we believe that the Q1FY21 would be keenly watched by the markets given that demand would be adversely impacted for the better part of the quarter as compared to just about a week in Q4FY20."

Shares of HINDUSTAN PETROLEUM CORPORATION LTD. was last trading in BSE at Rs.209.9 as compared to the previous close of Rs. 206.45. The total number of shares traded during the day was 432968 in over 5978 trades.

The stock hit an intraday high of Rs. 214.7 and intraday low of 206.4. The net turnover during the day was Rs. 91077233.

Source : Equity Bulls

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