Hindustan Petroleum Corporation Ltd (HPCL) is a Mega Public Sector Undertaking (PSU) with Navratna status. HPCL in collaboration with M/s Mittal Energy Investments Pte. Ltd. operates 11.3 MMTPA capacity refinery at Bathinda Punjab with 49% equity stake. Besides the company also holds an equity stake of 16.96% in Mangalore Refinery & Petrochemicals Ltd (MRPL) a refinery at Mangalore with a capacity of 9 MMTPA. The company's products and services include refineries aviation bulk fuels & specialities international trade liquefied petroleum gas (LPG) - HP gas Lubes - HP lubes. The company's subsidiaries include HPCL Biofuels Ltd Prize Petroleum Co. Ltd. (PPCL) Prize Petroleum International Pte. Ltd. and HPCL-Middle East FZCO. The Company is mainly engaged in the business of refining of crude oil and marketing of petroleum products production of hydrocarbons as well as providing services for management of exploration and production (E&P) Blocks.Hindustan Petroleum Corporation Ltd was incorporated on July 5th 1952 with the name Standard Vacuum Refining Company. Then the name was changed to ESSO India. When ESSO and Lube India were nationalized the company was renamed to Hindustan Petroleum Corporation Ltd in the year 1974. The Caltex undertaking was nationalized in the year 1976 which were subsequently merged with the company in the year 1978. In the year 1979 the undertakings of Kosan Gas Company the concessionaires of HPCL in the domestic LPG market was merged with the company. In December 2000 the 'Guru Gobind Singh Refineries' was incorporated as a wholly owned subsidiary company. The company completed the Rs 378 crore pipeline project from Vijayawada to Secunderabad which was commissioned on March 2002. They set up a new LPG Bottling plant with capacity of 44 TMTPA in Kota. The company implemented 15 company tank trucks in the year 2004.During the year 2004-05 the company completed their construction of a new grassroot depot at Aonla Bareilly in Uttar Pradesh with total cost of Rs 10.25 crore. Also they completed the construction of another new grassroot depot at Ramagundam Andhra Pradesh at a total cost of Rs 11.47 crore. Further they commissioned a total of 13100 KL additional tankage at various locations during the year. The company branded their retail outlets under the name 'CLUB HP'. They launched 'Turbojet' branded diesel and the 'Power' branded petrol in India. During the year 2005-06 the company's Mumbai Refinery undertook mega project at an approved cost of Rs 1850 crore to meet the MS/HSD of EURO-III grade in Metro/Mega cities and Bharat stage-II grade in the rest of the country and the Visakhapatnam Refinery undertook Clean Fuel Project at an approved cost of Rs 2147.8 crore to meet the MS/HSD of Euro-III grade in metro-mega cities and Bharat-II grade in the rest of the country. The company commissioned 647 retail outlets during the year.During the year 2008-09 the installation of facilities for production of Euro III / IV Petrol (Motor Spirit) at both the Refineries was completed. In pursuit of promoting alternate fuels CREDA-HPCL Biofuel Ltd (CHBL) was incorporated on October 14 2008 as a subsidiary company with equity shareholding of 74% by the company and 26% by Chhattisgarh State Renewable Energy Development Agency (CREDA). CHBL is to undertake cultivation of Jatropha plant an energy crop used for production of bio- diesel on 15000 hectares of land leased by the Government of Chhattisgarh.HPCL Refineries commissioned Clean Fuels Projects and Euro-IV MS production started prior to January 2010 as per Auto Fuels Policy. Mumbai Refinery was the First Indian PSU refinery to commence BS-IV MS production facilities and first batch of BS-IV MS was rolled out in January 2010. In its continual effort to widen the crude basket Mumbai Refinery processed 2 new crudes namely Iran Mix and Ravva crude. In April 2011 the company approved the acquisition of balance 50% shares held by other joint venture partners in Prize Petroleum Company Ltd. In November 2011 the company entered into a MoU with Greater Calcutta Gas Supply Corporation Ltd (GCGSCL) and Gas Authority of India Ltd (GAIL) to carry out natural gas business in the City of Kolkata and its adjoining districts.The company is setting up a state-of-the-art Green R&D Centre at Bangalore with an objective to become a technology leader through continuous & innovative R&D efforts. The project is being executed in a phase manner with a phase-I capital investment of Rs 210 crore.In 2012 HPCL Mittal Energy joint venture ties-up with IBM for data solutions. The company became a promoter of the Rajasthan refinery by taking a majority stake of 51 per cent in Rs 25000-crore refinery with annual capacity of 9 million metric tonnes.In 2013 a Memorandum of Understanding (MOU) was signed between Government of Rajasthan (GOR) and the company for setting up a state-of-the-art 9 MMTPA refinery-cum-petrochemical complexes in Barmer District of Rajasthan. The company proposed to enter into a 50:50 joint venture with Shapoorji Pallonji Group for LNG terminal for import of liquid gas (LNG) on Gujarat Coast. The company procures 1mn barrels of Nigerian Qua Iboe crude oil. The company has been bestowed with the Golden Peacock Award for Excellence in Corporate Governance for the year 2013 by Institute of Directors. The company signs MoU with MOP&NG Govt. of India for FY 2013-14.In 2014 the company's Mumbai Refinery bagged the coveted 'National Energy Conservation Award (First prize)' in the refinery sector. The company inaugurates KSP on world's highest motorable road. The company bags the Platts Top 250 Global Energy Award. The company acquires two gas blocks in Australia for AUD 85 million.In 2015 Hindustan Petroleum Corporation Ltd (HPCL) approved the proposal for implementation of capacity expansion of the company's Mumbai refinery from 7.5 MMTPA to 9.5 MMTPA. HPCL - `HP-HiGAS Unit' a new commercial scale unit developed based on HPCL R&D technology at Visakhapatnam refinery was inaugurated during the year. The company commenced marketing of Bio-Fuel blended High Speed Diesel (B-5 Diesel) in select retail outlets of the country.On 27 May 2016 the Board of Directors of HPCL approved acquisition of 2.16 crore equity share of Petronet MHB Ltd. (PMHBL) at Rs 12.04 per share from Petronet India Ltd totaling to Rs 26.09 crore.The Board of Directors of HPCL at its meeting held on 20 July 2016 recommended issue of bonus shares in the ratio of 2 bonus shares for every 1 existing equity share. The board also approved Rs 20928-crore project to increase the capacity of Visakhapatnam refinery to 15 MMTPA from 8.33 MMTPA with residue up-gradation facility meeting BS VI fuel specification compliance. On 21 July 2016 HPCL announced that the nameplate capacity of its Mumbai refinery stands enhanced to 7.5 MMTPA from 6.5 MMTPA due to various process improvements and de-bottlenecking schemes implemented by the company.Following approved from HPCL's Board of Directors as well as shareholders the Reserve Bank of India on 5 August 2016 notified increase in the ceiling on investment in HPCL's shares by foreign institutional investors (FIIs) from 24% to 40% of the paid up capital of the company. HPCL commissioned Mangalore-Hassan-Mysore-Solur LPG pipeline (356 km) in October 2016 with a cost of nearly Rs 838 crore and ahead of scheduled time of completion. To reduce carbon footprints and promote renewable energy HPCL commissioned a 50.5 MW wind power project in Rajasthan in December 2016 taking the total wind power capacity to 101 MW.On 7 December 2016 HPCL announced that it has signed a Consortium Agreement with Indian Oil Corporation Limited and Bharat Petroleum Corporation Limited to carry out pre project activities for setting up of 60 MMTPA West Coast Refinery and a Petrochemical Project in the State of Maharashtra through a Joint Venture Company.The Board of Directors of HPCL at its meeting held on 17 April 2017 approved resumption of Rajasthan Refinery Project and signing of revised MOU with the State Government of Rajasthan for implementation of the project. The project involves the setting up of 9 MMTPA grass root refinery at Pachpadra in Barmer district in Rajasthan.The Board of Directors of HPCL at its meeting held on 26 May 2017 recommended issue of fully paid bonus shares in the ratio of 1 bonus equity share of Rs 10 each for every 2 existing equity shares of Rs 10 each.HPCL registered highest ever Profit after Tax of Rs 6209 crore on standalone basis with gross sales of Rs 213489 crore for the year ended 31 March 2017 (FY 2017). HPCL refineries at Mumbai and Visakhapatnam maximized crude processing and achieved the highest ever-combined refining throughput of 17.81 MMT with capacity utilization of 113% in FY 2017 compared to throughput of 17.23 million tonnes in FY 2016. HPCL successfully rolled out daily pricing of petrol and diesel across India effective from 16 June 2017 to smoothen flow of products from supply locations to the consumer and align the prices to the international prices on daily basis. On 6 July 2017 HPCL announced that it has raised $500 million from fixed rate senior unsecured notes in overseas markets. The company intends to use all of the proceeds of the issue to fund capital expenditure for its ongoing and future domestic projects in accordance with the ECB Guidelines of India.During 2017-18 three new ASFs at Srinagar Tirupati and Patna were commissioned. Under Regional Connectivity Scheme 3 new locations were comissioned at Vidyanagar Jalgaon and Mundra in aviation business. In FY 2017-18 the Corporation commissioned Panagarh LPG plant with a bottling capacity of 250 TMTPA which is the biggest LPG plant in Asia.Government of India transferred whole of its 51.11% of the total paid up equity share capital of HPCL to Oil and Natural Gas Corporation Limited (ONGC) on 31st January 2018. Post-acquisition HPCL continues to be central public sector enterprise (CPSE) and a government company within the meaning of Section 2 (45) of the Companies Act 2013.During 2017-18 HPCL completed the turnaround of CDU-I unit at Visakh Refinery and also implemented the best practice of risk-based inspection in some of the critical units at Mumbai Refinery and Visakh Refinery.During 2017-18 a number of process improvement schemes were implemented at both refineries including SEU II Furnace revamp at Mumbai Refinery and commissioning of the slop-processing scheme at Visakh Refinery.During 2017-18 HPCL commissioned 669 new retail outlets and exceeded the mark of 15000 retail outlets by taking the total outlet number to 15062 as on 31st March 2018. Besides network expansion improving the volumes of the existing network also has been a key focus area for Retail SBU. About 1000 outlets were modernized during the year with an investment outlay of over Rs 350 crore.HPCL Middle East FZCO a 100% Subsidiary of your Corporation was incorporated on 11th February 2018 as a Free Zone Company under Dubai Airport Free Zone and Establishment Card was issued on 22nd March 2018 for the Company. The foreign subsidiary was established for trading in Lubricants & Grease Petrochemicals and Refined Oil Products.RRPCL was incorporated on 22nd September 2017 with Indian Oil Corporation Limited (IOCL) Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) holding equity in the ratio 50%: 25%: 25% respectively.Ujjwala Plus Foundation a joint venture of Indian Oil Corporation Limited (IOCL) Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) with fund contribution in the ratio 50%: 25%: 25% respectively was incorporated on 21st July 2017 as a not-for-profit Private Company Limited by Guarantee (without Share Capital) under Section 8 of the Companies Act 2013.CHBL in which HPCL holds 74% of equity shareholding was dissolved with effect from 8th March 2018.During 2017-18 more than 650 outlets were added to the network of branded Club HP / Club HP Star outlets taking the total to over 2700 as of March 2018.In line with the commitment to ensure a cleaner and greener environment solar panels were installed at 464 retail outlets during the year. HPCL also launched an electric vehicle charging station at a retail outlet in Nagpur. To adapt to green energy solutions HPCL initiated process of replacing existing conventional Metal Halide Lamps with LEDs at retail outlet network and LED installation was completed at 4510 retail outlets during the year 2017-18.To cater to growing LPG demand HPCL commissioned its largest LPG bottling plant at Panagarh in West Bengal with bottling capacity of 250 TMPTA. In addition bottling capacity augmentation projects of 60 TMTPA each at Unnao (Uttar Pradesh) and Purnea (Bihar) LPG plants were also completed during the year 2017-18.During 2017-18 HPCL successfully executed retailer loyalty scheme aimed to create a larger customer base within Bazaar market and enhance brand awareness for HP Lubricants in the market. To strengthen connection to the key stakeholders in lube market i.e. retailer and mechanics HPCL launched its market activation campaign named `BANDHAN' during the year. Various activities were conducted at important markets involving a number of retailers and mechanics and educating them on HPCL's lubricant products and benefits.During 2017-18 HPCL made its footprint in UAE with incorporation of 100% owned subsidiary company `HPCL Middle East FZCO' at DAFZA (Dubai Airport Free Zone Area) in UAE. HPCL has also appointed a distributor in Myanmar in 2017 and have commenced sales. HPCL's sales efforts in Myanmar were bolstered by product launches in important markets of Yangon and Mandalay and are being supported through various promotional and marketing activities in the region.During 2017-18 HPCL commissioned 5 new Kerb Side Pumps (KSPs) for Indian Army taking total KSPs to 93 with total tankage of 4841 KL to ensure smooth supply of POL products to Army in toughest terrains of country. The Company also commissioned 8600 KL of scattered tankage for Indian Army at Leh during the year. It further completed the Advance Winter Stocking of POL products for Indian Army in Kashmir Valley and Leh within stipulated time.During 2017-18 international airlines and carriers like Azur Air Thai Airways Kenya Airways Scoot Tiger Air Silk Air Nepal Airlines SriLankan Airlines and Biman Bangladesh were added to the existing customer portfolio. During 2017-18 aviation fuel infrastructure was augmented by setting up new fixed facilities at Tirupati Srinagar & Patna airports. In addition 3 new ASFs were commissioned during 2017-18 at Jalgaon Vidyanagar and Mundra airports where flight operations were commenced under Regional Connectivity Scheme of Government of India.During 2017-18 HPCL revamped and augmented the facilities at various locations including 8 bay Tank Truck (TT) filling gantry with allied facilities at Loni & Nalagarh and 6 Bay ATF TT loading facilities (fully compliant to MBLC requirements) along with allied facilities at Bahadurgarh terminal. In addition revamp of Jabalpur depot was completed with state of the art safety features. The depot was made fully compliant to latest OISD standards and enabled with fully automated loading operation.During 2017-18 HPCL implemented a number of cost leadership initiatives in operation and distribution of petroleum products which resulted in substantial savings for the Corporation. Major initiatives undertaken during 2017-18 include simultaneous tanker discharge at Ennore and Visakh terminals and realignment of retail outlets to optimize the logistics cost.Energy efficient lighting system was installed at 40 locations and solar plants (Rooftop and ground mounted) of total capacity 2700 KW were installed at 32 POL locations during the year 2017-18. Strict monitoring of specific energy & water consumption across locations was achieved through sustained awareness building. Rainwater harvesting at all major locations along with fresh water management has helped to reduce water consumption significantly.During 2017-18 the Company's joint venture Hindustan Colas Private Ltd. (HINCOL) supplied Bitumen emulsions to numerous road projects in India registering a sales growth of 5% over historical. It also supplied Polymer Modified Bitumen for construction of runways at Chandigarh and Kannur international airports and Air Force stations at Pune Tambaram Awantipur Sirsa and Kalburgi.