Docstoc

HPCL

Document Sample
HPCL Powered By Docstoc
					                                                                                             Regd off: Petroleum House, 17, Jamshedji Tata Road, Mumbai - 400 020
HINDUSTAN PETROLEUM CORP. LTD.                                                               E-Mail:    corphqo@hpcl.co.in
                                                                                             Web site: www.hindustanpetroleum.com
                                                                                             Telephone: (022) 2286 3900 Fax: (022) 2287 2992
ENERGY SOURCES                                                           GOVERNMENT          Tr agent: Link Intime India, C13, Pannalal Silk Mills Cmpd., LBS Marg, Mumbai - 78
Chairman: Arun Balakrishnan                                                     SEC: N. R. Narayanan                                      AUD: Sudit K. Parekh & Co.
Yr of Inc   B. Code       BL. Code     F.V.         Price        % ch 1-m       % ch 12-m      P/E       P/CF           Yield           Mkt cap               Vol.             ISIN
 1952   500104            HPCL:IN      10           354.2          7.6            75.8         15.8          6.6         1.5            119,925.8             193.1        INE094A01015
SHAREHOLDING                                                      FX Transaction (FY09)                             ADJUSTED DAILY SHARE PRICE DATA
Indian Promoters           : 51.1%                Exports (fob)          Rs m 60,213
Foreign collaborators      :   0.0%               Imports (cif)          Rs m 327,205                 (Rs)
Indian inst/Mut Fund       : 28.7%                Fx inflow              Rs m 60,213           450
FIIs/GDR                   :   9.0%               Fx outflow             Rs m 665,875                                                                          DAILY
Free float                 : 11.3%                Net fx                 Rs m -605,662
Shareholders               : 108,990                                                                                                                           100 DMA
                                                                                               375
                           No. of months                   12            12            12
                             Year ending             31/03/07      31/03/08      31/03/09
EQUITY SHARE DATA
                                                                                               300
High                                   Rs                 361            406          306
Low                                    Rs                 206            218          164
Sales per share                        Rs             2,769.3        3,252.3      3,803.2
Earnings per share                     Rs                49.3           40.2         22.3      225
Cash flow per share                    Rs                72.3           67.6         53.7
Dividends per share                    Rs               18.00           3.00         5.25
Dividend yield (eoy)                   %                  6.3            1.0           2.2
                                                                                               150
Book value per share                   Rs               281.8          317.1        328.3
Shares outstanding (eoy)               m              339.33          339.33      339.33        Aug-06              Jun-07              Feb-08                Nov-08           Aug-09
Bonus/Rights/Conversions                                     -              -            -
Price / Sales ratio                    x                   0.1            0.1          0.1                                  No. of months               12             12            12
Avg P/E ratio                          x                   5.7            7.8        10.5                                     Year ending         31/03/07       31/03/08      31/03/09
                                                                                              CASH FLOW
P/CF ratio (eoy)                       x                   3.9            4.6          4.4
Price / Book Value ratio               x                   1.0            1.0          0.7    From Operations                           Rs   m       41,163          -17,319     61,772
Dividend payout                        %                 36.5            7.5         23.5     From Investments                          Rs   m      -67,247          -25,787    -97,095
Avg Mkt Cap                            Rs m            96,200        105,871       79,743     From Financial Activity                   Rs   m       26,088           50,113     42,202
No. of employees                       `000                 11             11           11    Net Cashflow                              Rs   m            4            7,007      6,879
Total wages/salary                     Rs m             7,416          8,961       11,627
Avg. sales/employee                    Rs Th         86,281.9      100,793.8    114,715.1                                         INTERIM RESULTS
Avg. wages/employee                    Rs Th            680.9          818.4      1,033.5                                             2QFY09    3QFY09           4QFY09         1QFY10
Avg. net profit/employee               Rs Th          1,537.1        1,245.9        673.1     Net sales                      Rs   m   355,221   294,438          253,637        244,362
                                                                                              Gross profit                   Rs   m    -25,438    5,295           56,470         13,261
INCOME DATA                                                                                   Gross profit margin            %             -7.2      1.8            22.3             5.4
Net Sales                              Rs     m      939,696       1,103,591    1,290,545     Net profit                     Rs   m    -32,189   -4,220           51,040          6,491
Other income                           Rs     m        7,111          12,445        9,243     Net profit margin              %             -9.1     -1.4            20.1             2.7
Total revenues                         Rs     m      946,807       1,116,036    1,299,788
Gross profit                           Rs     m       27,544          20,128       25,463                                             KEY DATA
Depreciation                           Rs     m        7,782           9,304       10,661     Parameters                            Unit              FY07             FY08       FY09
Interest                               Rs     m        4,434           7,771       13,931     Installed refinery capacity           MMTPA               13               13         13
Profit before tax                      Rs     m       22,439          15,498       10,114     Production                            MMTPA               15               15         14
Minority Interest                      Rs     m             0               0           -1    Capacity utilisation                  %                  118              118        111
Prior Period Items                     Rs     m        3,043           3,667        1,310     Petroleum products sold               MMT                 29               31         32
Extraordinary Inc (Exp)                Rs     m         -848          -1,044             0    Lubricating oils sold                 THMT               280              422        298
Tax                                    Rs     m        7,893           4,480        3,851
                                                                                                                                       NOTES
Profit after tax                       Rs     m       16,741          13,641        7,572
Gross profit margin                    %                  2.9             1.8          2.0   Hindustan Petroleum Corporation Limited (HPCL) is the third largest oil refining and
Effective tax rate                     %                35.2            28.9         38.1    marketing company in India. Apart from the 13 MMTPA (million tonnes per annum) of
                                                                                             refining capacity, it has strong retail presence with over 8,500 retail outlets spread
Net profit margin                      %                  1.8             1.2          0.6
                                                                                             across the country. Further, the company has nearly 27 m customers in the fast
BALANCE SHEET DATA                                                                           growing LPG business. The company has stakes in HPCL-Mittal Energy (49%),
                                                                                             MRPL (17%), Bhagyanagar Gas (25%) and Aavantika Gas (25%).
Current assets                         Rs m          122,618        207,240       174,155
Current liabilities                    Rs m          106,783        133,633       124,665    During FY09, HPCL's average gross refining margin was US$ 3.97 per barrel as
Net working cap to sales               %                  1.7            6.7           3.8   compared to US$ 6.54 per barrel during FY08. During the year, Mumbai refinery
Current ratio                          x                  1.1            1.6           1.4   achieved crude throughput of 6.65 m tonnes, while the Visakh refinery achieved a
Inventory Turnover                     Days                33            42             26   crude throughput of 9.16 m tonnes. In terms of volumes, market sales were 25.39
Debtors Turnover                       Days                 7              7             7   million metric tonnes during FY09. The company's refining margin during the fiscal
Net fixed assets                       Rs m          144,024        165,017       191,169    was lower on account of the decline in the global crude oil prices, which resulted in
Share capital                          Rs m            3,390          3,390         3,390    inventory losses. The company faced under recoveries on product prices, which
"Free" reserves                        Rs m           92,211        104,189       107,965    could not be fully passed on to the consumers. Upstream oil companies, i.e. ONGC
                                                                                             and GAIL partially compensated for the under recoveries by providing discounts
Net worth                              Rs m           95,610        107,596       111,415
                                                                                             amounting to Rs 71.8 bn, while the Government of India issued oil bonds to the tune
Long term debt                         Rs m           88,488        127,343       218,633
                                                                                             of Rs 146.9 bn.
Total assets                           Rs m          327,771        430,949       493,598
Interest coverage                      x                  6.1            3.0           1.7   While volume off take is likely to remain robust going forward, the company's financial
Debt to equity ratio                   x                  0.9            1.2           2.0   performance will depend on crude oil prices, rupee-dollar exchange rates, interest
Sales to assets ratio                  x                  2.9            2.6           2.6   costs and most importantly, government regulations of product prices.
Return on assets                       %                11.5             9.1           6.5
Return on equity                       %                17.5           12.7            6.8
Return on capital                      %                15.8           11.0            7.7
Exports to sales                       %                  5.5            6.3           4.7
Imports to sales                       %                29.8           26.8          25.4
                                                                         GET MORE INFO AT WWW.EQUITYMASTER.COM

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:106
posted:11/6/2010
language:English
pages:1