HINDPETRO

What H P C L promised, and what happened

Every commitment management made on a call, tracked from the quarter it was made — reaffirmed, revised, diluted or quietly dropped.

Guidance record · Q1 FY27

what the last two calls moved 20 tracked 6 delivered 3 missed 11 open
  • Standalone Debt Equity Ratio delivered said Q4 FY25 Promised: end the debt equity between 1 to 1.1 by end of FY26 Q1 FY27: The promise for FY26 remains achieved. The ratio has since deteriorated sharply to 1.5 in Q1 FY27 due to significant losses.
  • EBITDA went quiet said Q2 FY26 Promised: INR 40,000 crores (12-month running) Q1 FY27: The INR 40,000 crore running EBITDA target was not mentioned again, especially in a quarter with significant reported losses. The promise remains ghosted.
  • VRMP GRM Benefit at risk said Q4 FY25 Promised: $2-$3 per barrel Q1 FY27: The RUF (VRMP) unit continues to face stabilization issues. Management is hoping for a 'good run' this quarter and full stabilization next quarter. The target GRM benefit of $2.5/bbl is not yet realized and is at risk until the unit is fully stable.

The rest of the ledger

Above is what the last two calls moved. Pro opens all 20 tracked commitments for H P C L — every quarter's revision, the source quote behind each one, and the topics management has stopped answering.

See what Pro opens