Hindustan Petroleum stock faces target cut after Q1 loss

Published on 09/30/2026 at 20:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Hindustan Petroleum stock carries an INR 365 target after JM Financial cut it from INR 375 on September 21, 2026. Q1 FY27 revenue reached INR 145,126.22 crore.

HPCL, INE094A01015, Illustration mit AI erstellt.

Hindustan Petroleum stock (ISIN INE094A01015) is defined by a sharp Q1 FY27 earnings reversal: standalone revenue reached INR 145,126.22 crore, while the company reported a net loss of INR 11,526.41 crore for the quarter ended June 30, 2026. The figures place operating scale and profitability on opposite sides of the investment case.

Target falls to INR 365

According to Informist on September 21, 2026, JM Financial cut its HPCL target to INR 365 from INR 375 and maintained a reduce call. The new target stood 4.18 percent above the NSE quote of INR 350.35 used for the comparison.

The brokerage expected HPCL's September-quarter EBITDA loss to reduce to INR 27 billion from INR 161 billion in the June quarter. That forecast points to sequential improvement, but it also shows how large the earnings repair task remained after the Q1 loss.

Revenue grows as profit reverses

Sahi Markets reported that Q1 FY27 revenue rose 20.8 percent from the prior-year period, while the standalone result swung from a profit of INR 4,370.87 crore in Q1 FY26 to the INR 11,526.41 crore loss. Average gross refining margin also reached USD 23.80 per barrel, compared with USD 3.08 per barrel a year earlier.

The combination is important for investors because a higher refining margin did not prevent a substantial bottom-line loss. The reported divergence leaves marketing economics, fuel pricing and cost recovery as the central variables for the next earnings update.

NSE quote and valuation

Hindustan Petroleum was last at INR 350.35 on the NSE on September 30, 2026 at 3:15 p.m. IST. Its market capitalization was INR 745.5 billion on the same date, while the 52-week NSE range was INR 316.20 to INR 508.45.

The stock picture therefore combines a quantified revenue increase with a quantified loss and a lower analyst target. The next material test is whether the projected EBITDA loss reduction can translate into a measurable recovery in reported profit.