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Growth With Green Focus

Based on its healthy financial performance, HPCL finds itself at the sixth spot in the BW Real 500 list, down one spot from last year's BW Real 500 list of companies

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Hindustan Petroleum Corporation (HPCL), the second-largest LPG marketer in India, achieved gross sales of Rs 3,72,642 crore during FY2021-22, thereby clocking a robust growth of 38.4 per cent over the previous fiscal year. The energy major was able to navigate a challenging environment with its focused approach. During the year under review, the crude processing capacity of Mumbai Refinery was enhanced from 7.5 MMTPA to 9.5 MMTPA with the completion of Mumbai Refinery Expansion Project (MREP) along with the revamp of both primary and secondary units. 

Based on its healthy financial performance, HPCL finds itself at the sixth spot in the BW Real 500 list, down one spot from last year's BW Real 500 list of companies. 

The marketing performance of HPCL was robust in 2021-22. Addressing the shareholders, Chairman & Managing Director Pushp Kumar Joshi said that HPCL managed to achieve a total sales volume of 39.1 MMT during the year with 6.8 per cent growth over the previous year. "In retail sales, total sales volume of 23.7 MMT was achieved in 2021-22 securing gain in market share in Total Motor Fuels (TMF) sales amongst industry. In LPG, highest ever sales of 7.7 MMT was achieved registering year-on-year growth of 4.4 per cent," Joshi added. 

LPG Push

During the year under review, HPCL’s industrial and consumer (I&C) business line recorded overall sales of 4.8 MMT. To meet the growing LPG demand, HPCL continued its focus on augmenting the bottling capacities and LPG storage at locations. The first LPG plant of HPCL in the state of Assam, was commissioned at Goalpara during FY22. HPCL also commissioned 120 TMTPA capacity LPG plant at Gonda, UP and additional 5.5 TMT of LPG mounded storage vessels at various locations. Commissioning of the pipeline from Mangalore jetty to Mangalore LPG import facility helped in enhancing the operational efficiencies and reducing the turnaround time of ships discharging LPG to the import terminal, Joshi said. 

Steps Towards Greener Tomorrow

According to Joshi, HPCL has always been at the forefront of environmental sustainability through implementation of various initiatives in the areas of carbon footprint reduction, energy efficiency, water conservation, waste management, renewable energy, etc. In line with the central government’s target to raise the share of natural gas in the energy mix from the current 6.7 per cent to 15 per cent by 2030, HPCL is participating in the entire value chain of natural gas business, Joshi said. In 11/11A city gas distribution (CGD) bidding of PNGRB, HPCL received the authorisation to set up CGD networks in three geographical areas in FY22. With this, HPCL, along with its JVs has the authorisation for CGD presence in 23 geographical areas across 12 states in the country. Joshi informed that during 2021-22, CNG facilities were provided at 413 retail outlets taking the total number of HPCL retail outlets with CNG facilities to 1,087. 

As of March 2022, electric vehicle (EV) charging facilities were made available at 1,011 retail outlets. HPCL said it is working with a number of organisations including startups to provide end-to-end EV charging infrastructure across the country to provide multi-fuel options to the customers. HPCL is setting up a 370 TPA Green Hydrogen plant at Visakh Refinery to meet partial requirement of refining processes in line with the National Green Hydrogen Mission. "In line with our commitment to move towards a low carbon economy with greater use of renewable power, solar panels were installed at 1,763 retail outlets during the year taking the total number of retail outlets with solar power to 6,411 outlets," said Joshi.

Pushp Kumar Joshi, CMD, Hindustan Petroleum Corporation (HPCL)

Total Assets: Rs 1,54,628 crore

Total Income: Rs 3,76,566 crore

Operating Profit: Rs 9,144 crore

Net Profit: Rs 7,294