Motilal Oswal has neutral call on Hindustan Petroleum Corporation with a target price of Rs 310. The current market price of Hindustan Petroleum Corporation Ltd. is Rs 304.45.

Hindustan Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 42896.90 Crore) operating in Gas & Petroleum sector.

Financials
For the quarter ended 31-03-2021, the company has reported a Consolidated Total Income of Rs 75394.63 Crore, up 8.37 % from last quarter Total Income of Rs 69571.51 Crore and up 13.10 % from last year same quarter Total Income of Rs 66659.85 Crore. Company reported net profit after tax of Rs 3028.36 Crore in latest quarter.

Investment Rationale
The stock trades at 7.1x FY23E P/E and 8.5x FY23E EV/EBITDA. It values the stock at 1.1x FY23E P/BV and recommend a Neutral rating on the stock with a TP of INR310/share. Major risk to the call would be sustainability of high marketing margin.

Promoter/FII Holdings
Promoters held 53.5 per cent stake in the company as of March 31, 2021, while FIIs held 16.3 per cent, DIIs 18.9 per cent and public and others 11.3 per cent.

(Disclaimer: Views and recommendations given in this section are the analysts own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.

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