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Joint Ventures & Subsidiaries

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Refining and Marketing of Petroleum products is the core business of the Corporation. Opportunities have been explored to access new revenue streams, and augment downstream businesses. Accordingly, HPCL has formed subsidiaries and joint venture companies for refining, bitumen emulsion, pipeline, city gas distribution (CGD), LPG cavern, natural gas pipelines, LNG terminal and biofuels.

Joint Ventures

Logo of HMEL HPCL-Mittal Energy Ltd.(HMEL)

HPCL-Mittal Energy Ltd (HMEL) is a Joint Venture between HPCL & M/s Mittal Energy Investments Pte. Ltd. (MEI), Singapore, (a wholly owned subsidiary of Mittal Investments S.a.r.l.). As of 31st March 2017, HPCL as well as MEI hold 48.99% equity in HMEL. The company was incorporated on 13th December 2000. The authorised share capital of the company is ₹ 10,000 crore. The paid up share capital as on 31st March 2017 is ₹ 8,041.10 crore.

HMEL operates a Greenfield refinery of 9 MMTPA capacity at Bathinda, in the State of Punjab. The refinery produces two principal categories of products:

  1. Liquid products such as LPG, Naphtha, MS, HSD, ATF etc. and
  2. Solid products such as Pet coke, Polypropylene and Sulphur.

HMEL has a wholly owned subsidiary HPCL-Mittal Pipelines Limited (HMPL) operating a crude oil pipeline of 1017 km from Mundra (Gujarat) to Bathinda (Punjab)

In the financial year 2016-17 HMEL reported its best ever financial performance. During 2016-17 HMEL processed 10.52 MMT of crude oil achieving a capacity utilization of 117%. HMEL recorded a sales turnover of ₹ 42,488 crore and a net profit after tax of ₹ 3,090 crore.

Logo of HINCOL Hindustan Colas Pvt Ltd. (HINCOL)

HINCOL is a joint venture company promoted by HPCL and Colas S.A. of France, and was incorporated on July 17, 1995. HINCOL has an authorised share capital of ₹ 30 crore. HPCL has 50% equity participation in HINCOL. As on 31st March 2017, paid up capital of HINCOL is ₹ 9.45 crore.

HINCOL is engaged in the manufacturing and selling of value added Bituminous products in India such as Bitumen Emulsions and Modified Bitumen. HINCOL is the Market Leader in Bitumen Emulsion business in India and also undertakes road maintenance activities like micro-surfacing and slurry sealing.

HINCOL owns and operates 9 strategically located manufacturing plants certified for the Integrated Management System (IMS) complying with ISO 9001 / 14001 and OHSAS 18001. HINCOL implemented Key Account Management (KAM) process aimed at enhancing service delivery to top-tier Road Construction Companies and undertook a number of measures to reduce cost and enhance productivity & safety. HINCOL have introduced Bituclair, a petroleum-based synthetic binder, from COLAS portfolio, that can be used to produce coloured paving materials. Bituclair is the first colourless bitumen solution in India.

The financial year 2016-17 saw HINCOL turning out a record performance both in sales and profitability. HINCOL recorded highest-ever sale of 220 TMT representing a growth of 6.7% over historical. In the Bitumen Emulsion business segment, HINCOL achieved a growth of 23%. In Site services, HINCOL logged in 5.7 lakh square meters of micro surfacing. HINCOL also constructed its first pedestrian / cycle track (red-coloured) at Lucknow using Bituclair.

During 2016-17, HINCOL recorded a total revenue of ₹ 772 crore. The PBIT and PAT stood at ₹ 142 crore & ₹ 92 crore, an increase of 21% & 22% respectively over the previous year. The earnings per share was ₹ 97.76, representing an increase of 22%.

HINCOL has been paying dividend for the past 17 consecutive years and has declared a dividend of ₹ 50/- per Share for 2016- 17. To create a more dynamic visual effect symbolizing leadership, innovation and openness, a new logo and signature was launched. HINCOL continues to remains a `Zero-debt’ entity.

As part of business diversification, HINCOL has joined hands with AXTER a Group Co. of COLAS engaged in the Business of design, manufacturing & marketing Water Proofing systems in more than 50 Countries. In India, these Products would be marketed under `HINCOLAXTER’ Brand in the areas of infrastructure, industry and housing sectors.

Logo of SALPG South Asia LPG Co Pvt. Ltd.(SALPG)

South Asia LPG Company Pvt. Ltd. (SALPG), is a Joint Venture Company with M/s. Total Holding India (formerly known as Total Gas & Power India), a subsidiary of Total, France. SALPG was incorporated on 16th November 1999. SALPG has an authorized share capital of ₹ 100 crore. HPCL has 50% equity participation in SALPG. As of 31st March 2017, paid up capital of SALPG is ₹ 100 crore.

SALPG has an underground LPG Cavern of 60 TMT capacity and associated receiving & despatch facilities at Visakhapatnam which was commissioned in December 2007. SALPG Cavern is the first-of-its-kind in South and South East Asia, and ranks among the deepest Caverns in the World. The commercial operations commenced in January 2008.

During 2016-17, SALPG Cavern received 1.627 MMT of LPG as compared to 1.342 MMT during previous year, registering a growth of 21%. SALPG has achieved a total revenue of ₹234.63 crore and recorded a net profit of ₹ 120.21 crore.

SALPG has been continuously paying dividend for the last 7 years. For the year 2016-17, SALPG Board has recommended a dividend of ₹ 7.50 per share.

Logo of BGL Bhagyanagar Gas Ltd. (BGL)

Bhagyanagar Gas Ltd. (BGL) was incorporated on 22nd August 2003 as a Joint Venture Company with GAIL (India) Ltd to implement City Gas Distribution (CGD) projects in the states of Andhra Pradesh and Telangana.

The authorised share capital of BGL is ₹ 100 crore. As on 31st March 2017 total paid up capital of BGL is ₹ 45.03 crore. HPCL and GAIL, each, hold 49.97% of the equity while 0.06% held by Strategic / Financial investors.

As on 31st March, 2017, BGL operates 41 CNG Stations including 33 daughter booster stations, 5 online stations & 3 mother stations and one (1) Auto LPG station at Tirupati.

As on 31st March 2017, BGL supplies PNG to around 6608 households, 52 commercial & 5 industrial consumers in its authorized geographical regions. BGL also fulfils the fuel requirement of around 39,000 CNG vehicles operating in the region.

During 2016-17, BGL has achieved sales of 28,573 MT of CNG, 29.35 Lakh SCM of PNG and 210.13 MT of Auto LPG. BGL has also reported a total revenue of ₹ 134.82 crore and recorded a net profit of ₹ 13.10 crore during the year.

Logo of Avantika Gas LtdAavantika Gas Ltd.

Aavantika Gas Ltd (AGL) was incorporated on 7th June 2006 as a Joint Venture Company by GAIL (India) Ltd. and HPCL to implement City Gas Distribution (CGD) projects in the cities of Indore, Ujjain, Pitampur and Gwalior, in the state of Madhya Pradesh

The authorised share capital of AGL is ₹ 100 crore. As on 31st March 2017 total paid up capital of AGL is ₹ 45.03 crore. HPCL has 49.97% equity stake in AGL with GAIL as equal partner.

As on 31st March 31, 2017, AGL has a CGD network comprised of a 1371-kilometre medium-density polyethylene (MDPE) pipeline and an 89-kilometre steel pipeline serving than 12,500 domestic customers, and operated 22 CNG stations (4 Mother Stations, 9 Daughter Stations & 9 Online Stations) in the cities of Indore, Ujjain, Gwalior and Pitampur.

During 2016-17, AGL has achieved sales volume of 19,221 MT of CNG and 6,870 MT of PNG, registering a growth of 11 % over the previous year. AGL has also reported a total revenue of ₹ 132.26 crore and net profit of ₹ 19.08 crore.

Logo of Petronet MHB ltd. Petronet MHB Ltd. (PMHBL)

PMHBL is a joint venture company, wherein HPCL has an equity stake of 32.72% along with ONGC and the remaining balance 34.56% of equity is held by leading banks & financial institutions. PMHBL owns and operates a multiproduct petroleum pipeline to transport products from MRPL refinery to various parts in the state of Karnataka.

During 2016-17, PMHBL has achieved highest ever throughput of 3.429 MMT as compared to 3.318 MMT during previous year. PMHBL has reported highest ever total revenue of ₹170.20 crore as compared to ₹ 163.67 crore in the previous year and recorded a net profit of ₹ 80.95 crore as compared to ₹ 63.49 crore in 2015-16.

PMHBL's Integrated Management System (IMS) is certified by M/s. Det Norske Veritas (DNV) covering Quality Management System-ISO-9001, Environmental Management System-ISO-14001 and OHSAS–18001. PMHBL has deployed various updated technologies solutions for pipeline operations as per International standards.

Logo of MRPL Mangalore Refineries and Petrochemicals Ltd. (MRPL)

HPCL holds an equity of 16.96% in Mangalore Refinery and Petrochemicals Ltd (MRPL). MRPL operates a refinery of 15 MMTPA capacity at Mangalore, in the state of Karnataka. During 2016-17, MRPL achieved total consolidated revenue of ₹ 59,430 crore and recorded net profit of ₹ 3643 crore.

Logo of MAFFL Mumbai Aviation Fuel Farm Facility Pvt. Ltd. (MAFFFL)

Mumbai Aviation Fuel Farm Facility Pvt. Ltd. (MAFFFL) is a Joint Venture Company (JVC) comprising of Mumbai International Airport Private Limited (MIAL), Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) with equity holding of 25% each. The Company was incorporated on February 26, 2010 and has an authorised capital of ₹ 300 crore.

The business of the Company is to operate & maintain existing Aviation fuel farm facilities and to provide Into-plane services at Chhatrapati Shivaji International Airport (CSIA), Mumbai. The Company will construct, maintain and operate the new Integrated Fuel Farm Facility on an Open Access basis. The revenue to MAFFFL shall be by way of the Fuel Infrastructure Charges, payable by the Suppliers for utilizing the Facility.

MAFFFL started operation from February 2015 and this is the second consecutive year of complete operation. The volumes handled increased from 15.53 Lakh KL in 2015-16 to 16.55 Lakh KL in 2016-17.

The total Income increased from ₹ 115.08 crore in 2015-16 to ₹ 127.60 crore in 2016-17 recording an increase of 11% and the profit after tax (PAT) increased from ₹ 18.58 crore in 2015-16 to ₹ 26.58 crore in 2016-17 recording an increase of 43%.

During 2016-17, the overall progress of the integrated fuel farm project is about 47%. The main focus is on the construction of integrated fuel farm project and 70% cumulative overall completion is expected to be achieved by end of FY 2017-18.

Logo of GIGL GSPL India Gasnet Ltd (GIGL)

GSPL India Gasnet Ltd (GIGL) is a consortium between Gujarat State Petronet Ltd (GSPL), Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL) and HPCL. HPCL has 11% equity participation in the company and the remaining stake is held by GSPL (52%), IOCL (26%) & BPCL (11%). The company was incorporated on 13th October 2011.

GIGL is laying two cross country gas pipelines viz. 1,640 KM Mehsana to Bathinda Pipeline and 740 KM Bathinda to Srinagar Pipeline. The company will facilitate HPCL to source gas and market it independently to customers along the pipeline route.

Logo of GITL GSPL India Transco Ltd (GITL)

GSPL India Transco Ltd (GITL) is a consortium between Gujarat State Petronet Ltd (GSPL), Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL) and HPCL. HPCL has 11% equity participation in the company and the remaining stake is held by GSPL (52%), IOCL (26%), & BPCL (11%). The company was incorporated on 13th October 2011.

GITL is laying 1,881 KM pipeline Mallavaram to Bhilwara. The company will facilitate HPCL to source gas and market it independently to customers along the pipeline route.

Logo of HSEPL HPCL Shapoorji Energy Pvt. Ltd. (HSEPL)

HPCL Shapoorji Energy Pvt Ltd (“HSEPL”) is a Joint Venture between Hindustan Petroleum Corporation Limited and SP Ports Pvt Ltd. HPCL has a 50% equity stake in HSEPL with SP Ports Pvt Ltd as equal partner. As on 31st March, 2017, HSEPL’s authorized share Capital is ₹ 50 crore and paid up share capital is ₹ 26 crore.

HSEPL will build and operate 5 MMTPA LNG regasification terminal at Chhara Port in Gir, Somnath District of Gujarat. The project is estimated to cost about ₹ 5,400 crore, to be funded by a mix of debt and equity. The key LNG terminal facilities include Marine Facilities for LNG carrier berthing & unloading, Tanks and Storage Facilities, Re- Gasification Facility based on Shell & Tube Vaporizer (STV) and Utilities such as Boil-Off System and Emergency generator.

HSEPL has achieved financial closure of the Chhara LNG project. Front End Engineering & Design (FEED) & other technical studies have been completed. HSEPL has initiated the process of award of EPC contract through international competitive bidding process.

HSEPL has received Goa Coastal Zone Management Authority (GCZMA) Expert Committee recommendation for CRZ clearance to Chhara LNG Terminal. HSEPL has applied to MoEF and PESO for necessary clearances/approvals.

Logo of GGPL Godavari Gas Pvt. Ltd. (GGPL)

Godavari Gas Pvt. Ltd. (GGPL) is a joint venture between Hindustan Petroleum Corporation Ltd (HPCL) and Andhra Pradesh Gas Distribution Corporation Limited (APGDC). The company was incorporated on 27th September 2016. The initial authorized share capital is ₹ 100 crore.

GGPL has been authorised by PNGRB for setting up of City Gas Distribution Network in East Godavari and West Godavari District in Andhra Pradesh.

Logo of RRPCL Ratnagiri Refinery and Petrochemicals Ltd. (RRPCL)

RRPCL is a joint venture between Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL). IOCL holds 50% of the equity while HPCL and BPCL holds 25% each. RRPCL was incorporated on 22nd September 2017. The initial authorized share capital is ₹ 400 crore.

RRPCL was incorporated to establish a refinery and petrochemical complex of approximately 60 MMTPA Capacity along the west coast of India in the State of Maharashtra.

Subsidiary Companies

Logo of Prize Petroleum Company Ltd Prize Petroleum Company Ltd.

Prize Petroleum Company Ltd (PPCL) is a wholly owned subsidiary of HPCL. PPCL is the upstream arm of HPCL and is in the business of Exploration and Production (E&P) of Hydrocarbons as well as providing services for management of E&P blocks.

PPCL has a wholly owned subsidiary namely Prize Petroleum International Pte Ltd (PPIPL), incorporated in Singapore. PPIPL has acquired 11.25% and 9.75% participating interest in two E&P blocks (T/L1 and T/18P respectively) in Australia.

During 2016-17, PPCL achieved total production of 37,068 barrels of crude oil from the two domestic oil fields (Hirapur and Sanganpur). PPIPL has achieved its share of production of 4,29,548 BoE (Barrels of Oil Equivalent) from Yolla Producing Field (T/L1). During 2016-17, PPCL has achieved an increase in revenue to ₹ 86.49 crore on consolidated basis as compared to ₹ 82.71 crore during previous year.

Logo of HBL HPCL Biofuels Ltd. (HBL)

HPCL Biofuels Ltd (HBL) is a wholly owned subsidiary of HPCL. The company was incorporated on 16th October 2009 as a backward integration initiative to foray into manufacture of ethanol. HBL has an authorized equity share capital of ₹ 250 crore. As on 31st March 2017 total paid up equity capital of HBL is ₹ 205.52 crore.

HBL has built integrated plants with cane crushing capacity of 3,500 Tonnes of cane crushed per day (TCD) with Distillery of 60 kilo liter per day (KLPD) for manufacturing Ethanol and co-gen plant of 20 MW each at Sugauli and Lauriya in East and West Champaran Districts in the State of Bihar.

During 2016-17, HBL has recorded total revenue of ₹ 385.95 crore and cane crushing of 598 TMT with highest ever average sugar recovery of 9.26%. In the production front, HBL achieved sugar production of 55,333 MT, ethanol production of 10,101 KL and power production of 63.383 Million Units.

HPCL Rajasthan Refinery Ltd. (HRRL)

HPCL Rajasthan Refinery Ltd (HRRL) was incorporated on 18th September 2013 for setting up a 9 MMTPA capacity Greenfield refinery and a petrochemical complex in the State of Rajasthan. As on 31st March 2016, HRRL’s authorized share capital is ₹ 4,000 crore and paid up share capital is ₹ 0.05 crore. HPCL has 74% equity participation in HRRL and the balance 26% is held by Government of Rajasthan.

HPCL and the Government of Rajasthan entered into a revised memorandum of understanding, on 18th April 2017 for the construction of the said refinery with revised agreed parameters. Land totalling to about 4675 acres has been earmarked and all other initial activities for commencement of the project are in advanced stage of roll out. The cost of project is estimated to be ₹ 43129 crores.

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