Hindustan Petroleum Corporation Ltd. benchmarking: Perfomance to industry peers

Financial

	HPCL	MRPL	BPCL
Operational Metrics
Oil Refining
Gross Refining Margin (GRM)	8.83 $/BL	3.88 $/BL	10.66 $/BL
Nelson Complexity Index	17.0	10.0	10.22
Manufacturing Capacity - Refinery	24.5 MMTPA	15.0 MMTPA	35.3 MMTPA
Capacity Utilization - Refinery	106.96 %	107.7 %	103.81 %
Financials
5 yr Average ROE	14.26 %	15.49 %	21.71 %
5yr average Equity Multiplier	4.0	4.59	3.1
5yr Average Asset Turnover Ratio	2.26	2.12	2.01
5yr Avg Net Profit Margin	2.06 %	1.67 %	3.97 %
Price to Book	1.6	2.32	1.68
P/E	5.9	14.2	6.42
5yr Avg Cash Conversion Cycle	9.87 Days	12.45 Days	10.65 Days
Inventory Days	28.39 Days	31.24 Days	29.42 Days
Days Receivable	8.18 Days	12.31 Days	6.45 Days
Days Payable	24.24 Days	34.11 Days	26.57 Days
5yr Average Interest Coverage Ratio	7.0	2.9	7.39
5yr Avg ROCE	10.86 %	14.65 %	17.66 %
5yr Avg Operating Profit Margin	3.54 %	5.16 %	6.54 %
5 yr average Debt to Equity	1.38	2.43	0.87
5yr CAGR Net Profit	-8.78 %	n/a	-3.77 %
5yr Average Return on Assets	4.12 %	4.44 %	7.36 %
Shareholdings
Promoter Holding	54.9 %	88.58 %	52.98 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	0.0	0.0	0.0
Change in Mutual Fund Holding (3 Yrs)	3.41 %	0.75 %	0.25 %

	HPCL	MRPL	BPCL
Product Wise Break-Up	Product Wise Break-Up High Speed Diesel (HSD) 47.0 Motor Spirit (MS) 26.0 Liquified Petroleum Gas ( LPG ) 16.0 High speed Diesel (HSD) 0 refining 0 Crude Oil 0 Others 11.0	Product Wise Break-Up High Speed Diesel (HSD) 55.96 Motor Spirit (MS) 25.12 Crude Oil 0 Liquified Petroleum Gas ( LPG ) 0 High Speed Diesel (HSD) 0 refining 0 Others 18.92	Product Wise Break-Up High speed Diesel (HSD) 0 Motor Spirit (MS) 18.58 Crude Oil 0 Liquified Petroleum Gas ( LPG ) 0 High Speed Diesel (HSD) 45.13 refining 0 Others 36.29
Segment Break-Up	Segment Break-Up Downstream 99.91 Exploration and Production 0 Downstream Petroleum 0 Others 0.09	-	Segment Break-Up Downstream Petroleum 99.98 Exploration and Production 0.02 Downstream 0
Location Wise Break-Up	Location Wise Break-Up India 97.68 Rest of the World 2.32	Location Wise Break-Up Rest of the World 41.22 India 58.78	Location Wise Break-Up Rest of the World 0 India 98.77 Others 1.23
Operating Profit Break-Up	Operating Profit Break-Up Downstream 100.0 0	-	Operating Profit Break-Up 0 Downstream 100.0
Asset Break-Up - Segment Wise	Asset Break-Up - Segment Wise India 100.0	-	Asset Break-Up - Segment Wise India 82.02 Others 17.98
Asset Break-Up	Asset Break-Up Downstream 96.98 0 Others 3.02	-	Asset Break-Up Exploration & Production of Hydrocarbons 13.42 Downstream 75.03 Others 11.55