Hindustan Petroleum Corporation Limited (HINDPETRO.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+745.6%

₹2,986.99

vs ₹353.25 price

Levered DCF

₹3,213.66

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.41

Grey zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	3.95×	11.42×	4.15×	-3.21×	5.24×	3.32×	7.32×	4.31×
P/B	1.09×	1.5×	0.94×	0.69×	0.62×	0.62×	0.62×	0.95×
P/S	0.16×	0.18×	0.1×	0.05×	0.07×	0.1×	0.07×	0.11×
EV / EBITDA	3.7×	8.65×	4.4×	-17.81×	6.76×	4.16×	9.65×	4.68×
Gross margin	10.3%	8.1%	9.8%	2.3%	7.1%	13.0%	7.2%	9.0%
Operating margin	5.8%	7.1%	8.7%	1.4%	6.0%	11.3%	5.8%	7.6%
Net margin	4.1%	1.6%	3.7%	-1.6%	2.1%	4.6%	1.0%	2.4%
Current ratio	0.64×	0.6×	0.61×	0.6×	0.7×	0.71×	0.66×	0.76×
Debt / equity	0.85×	1.38×	1.42×	2.19×	1.17×	1.15×	1.42×	0.93×
Interest coverage	7.59×	9.6×	15.43×	3.01×	25.48×	29.26×	19.61×	35.71×
Dividend yield	4.6%	3.0%	4.8%	8.9%	12.6%	6.3%	8.9%	5.7%
Payout ratio	18.3%	34.7%	13.3%	-28.4%	44.2%	13.9%	65.4%	24.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	27.5%	13.2%	34.1%	-21.6%	17.6%	28.0%	8.5%	22.0%
Return on invested capital	15.0%	17.6%	24.2%	4.0%	17.2%	22.5%	19.3%	20.8%
Return on assets	8.9%	3.5%	8.8%	-4.3%	4.7%	7.9%	2.3%	6.2%
Free cash flow yield	34.6%	6.0%	31.1%	-57.7%	13.6%	26.1%	-43.4%	-9.7%
Earnings yield	25.3%	8.8%	36.1%	-31.2%	28.6%	45.1%	13.7%	23.2%
Enterprise value	₹1.3T	₹1.5T	₹1.1T	₹925.5B	₹737.7B	₹668.5B	₹631.1B	₹568.2B
Net debt / EBITDA	1.62×	4.13×	2.64×	-13.5×	4.43×	2.69×	6.7×	2.3×
Cash conversion cycle (days)	14	19	13	12	18	35	27	13