Hindustan Petroleum Corporation Ltd.

Financial

	HPCL	MRPL	BPCL
Operational Metrics
Oil Refining Sector
Gross Refining Margin (GRM)	8.54 $/BL	5.0 $/BL	13.32 $/BL
Nelson Complexity Index	17.0	10.0	10.22
Manufacturing Capacity - Refinery	17.8 MMTPA	15.0 MMTPA	35.3 MMTPA
Capacity Utilization - Refinery	119.07 %	122.99 %	113.5 %
Financials
5 yr Average ROE	10.9 %	0.12 %	17.03 %
5yr average Equity Multiplier	3.91	5.16	3.56
5yr Average Asset Turnover Ratio	2.32	1.81	1.97
5yr Avg Net Profit Margin	1.7 %	-0.37 %	2.91 %
Price to Book	1.55	3.67	1.84
P/E	4.12	10.02	4.53
5yr Avg Cash Conversion Cycle	9.5 Days	9.32 Days	10.16 Days
Inventory Days	27.56 Days	32.79 Days	27.04 Days
Days Receivable	5.15 Days	12.87 Days	5.62 Days
Days Payable	23.3 Days	34.33 Days	25.0 Days
5yr Average Interest Coverage Ratio	7.66	1.14	6.39
5yr Avg ROCE	9.19 %	5.98 %	12.66 %
5yr Avg Operating Profit Margin	3.55 %	3.0 %	5.74 %
5 yr average Debt to Equity	1.32	2.94	1.18
5yr CAGR Net Profit	n/a	50.84 %	-22.86 %
5yr Average Return on Assets	3.37 %	0.49 %	5.03 %
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)	1.4 %	0.0	0.0
Change in Mutual Fund Holding (3 Yrs)	0.77 %	-0.17 %	-7.24 %

Business

	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 Motor Spirit (MS) 22.38 Liquified Petroleum Gas ( LPG ) 0 Crude Oil 0 High Speed Diesel (HSD) 0 refining 0 High Speed Diesel (HSD) 62.3 Others 15.32	Product Wise Break-Up Motor Spirit (MS) 18.58 Liquified Petroleum Gas ( LPG ) 0 Crude Oil 0 High Speed Diesel (HSD) 45.13 refining 0 High speed Diesel (HSD) 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 0 Exploration and Production 0.03 Downstream Petroleum 99.97
Location Wise Break-Up	Location Wise Break-Up India 98.92 Rest of the World 1.08	Location Wise Break-Up Rest of the World 35.95 India 64.05	Location Wise Break-Up Rest of the World 0 India 100.0
Operating Profit Break-Up	Operating Profit Break-Up Downstream 98.45 0 Others 1.55	-	Operating Profit Break-Up Downstream 100.0 0
Asset Break-Up - Segment Wise	Asset Break-Up - Segment Wise India 98.92 Others 1.08	-	Asset Break-Up - Segment Wise India 79.97 Others 20.03
Asset Break-Up	Asset Break-Up Downstream 97.31 0 Others 2.69	-	Asset Break-Up Downstream 80.58 Exploration & Production of Hydrocarbons 12.82 Others 6.6