Hindustan Petroleum Corporation Ltd


BSE: 500104 | NSE: HINDPETRO | ISIN: INE094A01015 
Market Cap: [Rs.Cr.] 10,176 | Face Value: [Rs.] 10
Industry: Refineries

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Director's Report

Directors

TO THE MEMBERS

On behalf of the Board of Directors, I have great pleasure in presenting to you thefifty eighth Annual Report on the working of the Company, together with the AuditedAccounts for the year ended 31st March 2010.

HIGHLIGHTS

(Rs. Crores)
2009-10 2008-09
FINANCIAL
Sales/Income from Operations 1,14,888.63 1,31,802.65
Profit before Depreciation, Interest and Tax 4,193.18 3,776.36
Depreciation (1,164.40) (981.29)
Interest (903.75) (2,082.84)
Profit before Tax 2,125.03 712.23
Provision for Tax
• Current Tax (561.50) (227.60)
• Deferred Tax (204.61) (34.29)
• Taxation of earlier years written back (57.51) 111.77
• Deferred Tax written back - 26.90
• Fringe Benefit Tax (0.05) (14.03)
Profit after Tax 1,301.37 574.98
Balance brought forward from previous year 8,104.16 7,794.67
Appropriations:
General Reserve (130.14) (57.50)
Debenture Redemption Reserve (86.40) -
Proposed Dividend (406.35) (177.78)
Tax on distributed profits (67.49) (30.21)
Balance carried forward 8715.15 8,104.16
PHYSICAL PERFORMANCE (MMT)
Market Sales (Including exports) 26.27 25.39
Crude Thruput:
- Mumbai Refinery 6.96 6.65
- Visakh Refinery 8.80 9.16
SHAREHOLDERS’ VALUE (Rupees)
Earnings per Share 38.43 16.98
Cash Earnings per Share 78.86 46.97
Book Value per Share 341.32 316.88

DIVIDEND

Your Directors, after taking into account the financial results of the Company duringthe year, have recommended dividend of Rs. 12 per share for the year 2009-10 as againstRs. 5.25 per share paid for the year 2008-09. The dividend for 2009-10, including dividendtax provision will absorb Rs. 473.84 crores (2008-09: Rs. 207.99 crores).

SALES/INCOME FROM OPERATIONS

Your Company has achieved sales/income from operations of Rs. 1,14,888.63 crores ascompared to Rs.1,31,802.65 crores in 2008-09.

PROFIT

Your Company has earned gross profit of Rs. 4,193.18 crores as against Rs. 3,776.36crores in 2008-09 and profit after tax of Rs. 1,301.37 crores as compared to Rs. 574.98crores in 2008-09.

INTERNAL RESOURCES GENERATION

The Internal Resources generated were Rs. 2,196.53 crores as compared to Rs. 1,382.56crores in 2008-09.

CONTRIBUTION TO EXCHEQUER

Your Company has contributed a sum of Rs. 21,156.02 crores to the exchequer by way ofduties and taxes, as compared to Rs. 21,359.75 crores in 2008-09.

DIRECTORS’ RESPONSIBILITY STATEMENT

In terms of Section 217(2AA) of the Companies Act, 1956, your Directors state that:

(i) In the preparation of the Annual Accounts, all the applicable Accounting Standardshave been followed along with proper explanation relating to material departures.

(ii) The Company has selected such Accounting Policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the company as on 31st March 2010 and of the Profit& Loss Account of the company for the year ended on that date.

(iii) The Company has taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act, 1956 forsafeguarding the assets of the company and for preventing and detecting fraud and otherirregularities.

(iv) These Accounts have been prepared on a going concern basis.

MEMORANDUM OF UNDERSTANDING (MOU) WITH GOVERNMENT OF INDIA

Your Corporation has been signing a Memorandum of Understanding (MOU) with the Ministryof Petroleum & Natural Gas. The performance of the Corporation of the year 2009-10qualifies for "Excellent" rating basis self evaluation.

REFINERY PERFORMANCE

HPCL refineries processed a combined thruput of 15.76 MMT (15.81 MMT in 2008-09)against combined installed capacity of 14.0 MMT by achieving 113% capacity utilization.

HPCL refineries achieved overall MOU Excellent Rating with respect to productionparameters viz. Crude thruput, Distillate Yields and Specific Energy Consumption.

HPCL Refineries commissioned Clean Fuels Projects and Euro-IV MS production startedprior to January 2010 as per Auto Fuels Policy.

Gross refining margins of Mumbai Refinery averaged at US$ 2.80 per barrel as againstUS$ 6.11 per barrel for the year 2008-09.

Gross refining margins of Visakh Refinery averaged at US$ 2.59 per barrel as againstUS$ 2.42 per barrel for the year 2008-09.

Mumbai Refinery:

During the year, Mumbai Refinery achieved crude thruput of 6.96 million tonnes asagainst 6.65 million tonnes achieved for the year 2008-09. This crude thruput was higherthan MOU target of 6.5 MMT. The capacity utilisation was 107%. The Fuel and Loss at MumbaiRefinery was 7.64% during the year which is higher than last year of 6.64% on account ofcommissioning new Green Fuel Emission Control Project.

Total Distillate yield (Adjusted for crude mix and Bitumen) at 71.8% was higher thanMOU Excellent target of 68.6%. Mumbai Refinery achieved the lowest ever Specific EnergyConsumption (MBN) of 88.7 against MOU target of 98.0 for the current year.

Naphtha was replaced with eco-friendly RLNG in Captive power plant to reduce own powergeneration cost to the tune of Rs. 260 crores/annum.

Mumbai Refinery was the First Indian PSU refinery to commence BS-IV MS productionfacilities and first batch of BS-IV MS was rolled out in January, 2010. In its continualeffort to widen the crude basket, Mumbai Refinery processed 2 new crudes, namely Iran Mixand Ravva crude.

During 2009-10, total 555 TMT Iran Mix and 107 TMT Ravva crude were processed.

In its endeavor to maximize profitability, Mumbai Refinery has processed more ofheavier crudes like Basrah and Kuwait by modifying CDU-I bottom section with high capacity"Flexitrays" during November, 2009.

Visakh Refinery :

During the year, Visakh Refinery achieved crude thruput of 8.80 million tonnes asagainst 9.16 million tonnes achieved for the year 2008-09. This crude thruput was lowerthan MOU target of 9.1 MMT. The capacity utilisation was 117.3%. The Fuel and Loss atVisakh Refinery was 6.77% during the year which is higher than last year of 5.69% onaccount of commissioning new Clean Fuels Project.

Total Distillate yield (Adjusted for crude mix and Bitumen) at 73.5% is in line withMOU Excellent target. Visakh Refinery achieved Specific Energy Consumption (MBN) of 91against MOU target of 93 during the year.

In order to maximize profitability, Visakh Refinery processed high viscous and highresid yielding new crude called Sooroosh Crude blended with IRAN Light. The refinery alsoprocessed high TAN Escravos blended crude.

Bitumen coastal loading facility was commissioned and 17 TMT was exported during theyear.

The particulars with respect to Conservation of Energy, Technology Absorption, ForeignExchange Earning & Outgo are detailed in Annexure I.

Similarly, particulars relating to control of Pollution and other initiatives byRefineries are listed in Annexure II of Directors’ Report.

MARKETING PERFORMANCE

The market sales (including exports) were 26.27 million tonnes as against 25.39 milliontonnes recorded in 2008-09.

VIGILANCE

Vigilance Department in the current year has strived to emphasize in its activities, anenvironment of proactive vigilance, the importance of transparency, adherence toprofessionalism and high standards in customer service and project execution. VigilanceAwareness Week was observed from 03.11.2009 to 07.11.2009 all over India, wherein, variouscompetitions like slogan, quiz, essay writing contests etc were organized among theemployees.

INDUSTRIAL RELATIONS

Industrial Relations climate during the year 2009-10 continued to be harmonious acrossall locations.

The Competency Mapping and Development process was strengthened. 725 Officers attendedDevelopment Centers and Individual Development Plans were drawn up and progress reviewed.Technical Competency Framework was developed for the Exploration & Production businessunit.

During the year, Gaurav awards were introduced to identify and recognize outstandingperformance by Non-Management Employees.

To enhance corporate governance, Whistle Blower Policy was adopted. Conduct, Discipline& Appeal Rules applicable to Management Employees were also reviewed and amended.

OFFICIAL LANGUAGE IMPLEMENTATION

Official Language Implementation continued to receive utmost importance in theCorporation.

SC / ST LIAISON

The overall representation of SC / ST employees in the Corporation is 27.69%. Duringthe year, your Corporation has carried out a number of Welfare / Development activitiessuch as primary education, scholarships, drinking water facilities, health care, incomegenerating schemes / vocational training, rehabilitation of persons with disabilities& other welfare activities.

CORPORATE GOVERNANCE

The Corporation has complied with the requirements of Corporate Governance with theexception of appointment of Independent Directors to the level of 50% of the totalstrength of the Board. This matter is being pursued with the administrative Ministry andis under their active consideration. The details in this regard form part of this AnnualReport.

MANAGEMENT DISCUSSION & ANALYSIS REPORT

This report has been given separately.

PARTICULARS OF EMPLOYEES

A statement providing the information as required under Section 217 (2A) of theCompanies Act, 1956 is annexed herewith (Annexure III). The details regarding thenumber of women employee’s vis--vis the total number of employees in each group isalso annexed (Annexure IV).

DIRECTORS

HPCL Board presently comprised of 10 Directors. The whole time Directors are S/ShriArun Balakrishnan, Chairman & Managing Director, S. Roy Choudhury, Director-Marketing,V. Viziasaradhi, Director-Human Resources, B. Mukherjee, Director-Finance and K. Murali,Director-Refineries.

The Part-time directors are S/Shri P.K. Sinha, L.N. Gupta, P.V. Rajaraman, Prof.Prakash G. Apte and Dr. Gitesh K. Shah. The following are the details of theirappointment:-

• Shri P.K. Sinha, Additional Secretary and Financial Adviser, MOP&NG whojoined HPCL Board on March 1, 2006 continues to be the Ex-Officio Part-timeDirector of the Corporation. Shri L.N. Gupta, Joint Secretary (Refineries), MOP & NGwho joined HPCL Board on June 25, 2008 continues to be the Ex-Officio Part-timeDirector of the Corporation.

• Dr. Gitesh K. Shah, joined HPCL Board as a Part-time Non-Official Director onDecember 7, 2009. S/Shri P.V. Rajaraman and Prof. P.G. Apte who joined HPCL Board on July22, 2007 continue to be the Non-Official Directors of the Corporation.

• S/Shri Arun Balakrishnan (Chairman & Managing Director), S. Roy Choudhury(Director-Marketing), V. Viziasaradhi (Director-Human Resources), B. Mukherjee(Director-Finance) and K. Murali (Director – Refineries) continue as whole TimeDirectors of the Corporation.

As per the provisions of Section 256 of the Companies Act, 1956, S/Shri P.K. Sinha,L.N. Gupta and B. Mukherjee who retire by rotation at next Annual General Meeting and areeligible for reappointment.

ACKNOWLEDGEMENTS

The Directors gratefully acknowledge the valuable guidance and support extended by theGovernment of India, Ministry of Petroleum and Natural Gas, other Ministries, PetroleumPlanning & Analysis Cell and the State Governments.

The Directors also acknowledge the contribution made by the large number of dealers anddistributors spread all over the country towards improving the service to our valuedcustomers as well as for the overall performance of the Company. The employees of theCompany have continued to display their total commitment towards the pursuit ofexcellence. Your Directors take this opportunity to place on record their appreciation forthe valuable contribution made by the employees and look forward to their services withzeal and dedication in the years ahead to enable the Company to scale even greaterheights. Your Directors are thankful to the shareholders for their faith and continuedsupport in the endeavors of the Company.

For and on behalf of the Board of Directors
ARUN BALAKRISHNAN
May 26, 2010 Chairman & Managing Director

Annexure to Directors’ Report

Annexure-I

Particulars with respect to Conservation of Energy, Technology Absorption and ForeignExchange Earning/ Outgo as per Companies (Disclosure of Particulars in the Report of Boardof Directors) Rules, 1988.

ENERGY CONSERVATION & TECHNOLOGY ABSORPTION I) CONSERVATION OF ENERGY a) EnergyConservation measures undertaken and Additional Investment / proposals for implementationon conservation of energy

Mumbai and Visakh Refineries accorded highest priority to energy conservation and haveundertaken several Encon measures by operational improvements and implementing of Enconprojects. Various Encon measures undertaken during 2009-10 are as follows:

Mumbai Refinery

1) Mumbai Refinery achieved the lowest ever Specific Energy Consumption (MBN) of 88.7during the year as against 89.0 of last year.

2) Started receiving Reliquefied Natural Gas (RLNG) through GAIL receiving station/pipeline as a result of which all GTGs and other furnaces were switched to Gas. This hashelped in reduction of emission levels and saving of internal fuel cost of Refinery.

3) Achieved 100% Gas firing in GTG’s which has reduced specific energy consumptionfrom 0.40 to 0.35.

4) Carried out online chemical cleaning of furnaces to bring down the Bridge WallTemperature (BWT), Stack temperature and to improve furnace efficiency.

5) Improved DHDS furnace preheats temperature by installing the additional exchanger inraw Diesel pre heat circuit.

6) Commissioned Propane Gas recovery system in Lube Refinery, first stage (wax recoverycircuit) by in house modification.

7) Carried out Leak Detection Survey for fugitive emission benchmarking in Refineryprocess units. Leaks identified and being attended.

8) Observed Oil & Gas Conservation Fortnight from 15th – 31stJanuary, 2010 to generate mass awareness amongst the public for conservation of petroleumproducts. During the fortnight, several activities were organized inside & outside theRefinery.

Additional proposals for implementation on conservation of energy:

1) Replacement of Rotary Air Pre-heater with Stationary in FRE-CDU & Preheataugmentation.

2) Conversion of natural draft furnace to balance draft in FRE-VDU & LR-VDU.

3) Utilization of vacuum off gases from FR/FRE/LR VPS.

4) Recovery of the flare gas at LR and utilization of gas in furnaces.

5) Provision of PRDS system in the Light End Unit to optimize the steam consumption inDepentaniser and Dehaxaniser and two number Desuperheaters for Naphtha stabilizers.

6) Installation of Desuperheater to reduce the steam temperature of MP steam header byquenching the boiler feed water at LR which will produce the additional steam.

7) Implementation of second stage Propane gas recovery system in Lube Refinery (DWOrecovery circuit).

8) Secondary seals/ guide pole sleeves on 13 nos of Naphtha/MS tanks, to reduce VOCemission through tank farm.

9) Achieving 100% Gas firing facilities in Furnaces & Boilers.

Saving envisaged due to additional energy conservation proposal planned in future is44837 SRFT equivalent to Rs. 98 Crores per annum.

Visakh Refinery

1) Carried out periodic steam leak/steam trap survey during the year by engagingexternal agency using ultrasonic detector and visual methods. The repairs of identifiedleaks were arrested.

2) Carried out compressed air leak survey by appointing external agency by usingultrasonic detector. The repairs of identified leaks were attended.

3) Carried out online furnace cleaning by using solid spray resulting in reduced stacktemperatures and increased heater efficiencies.

4) Commissioned new CO boiler FD fan turbine to motor auto cut in facility forcontinuous running of turbine in place of motor, thereby avoiding venting of turbinesteam.

5) Commissioned Demulsifier injection facility to crude receipt line to reduce sediment(BS&W) to crude feeding units.

6) Commissioned Antifoulant chemical injection facilities to SR preheat exchanger inCDU-3 to reduce fouling of exchangers.

7) Identified fouled preheat exchangers by Heat 4N software and cleaning was carriedout for sustaining preheat temperature in CDUs.

8) Commissioned Automatic blow down facility for steam drum in Hydrogen unit resultingin energy saving due to controlled blow down.

9) Oil and Gas conservation fortnight was observed in Visakh Refinery from 15th-31stJanuary, 2010. Various mass awareness activities were carried out on the occasionamongst the public for conservation of petroleum products. During the fortnight, severalactivities like Furnaces/boilers efficiency, insulation effectiveness, Encon slogancontest in English, Hindi & Telugu were organized inside & outside the Refinery.

Additional proposals for implementation on conservation of energy:

1) Replacement of stack dampers for 11-F-01 & 12-F-01 with multiple leaf dampers.

2) Addition of convection section tubes for 11-F-01 & 12-F-01 to improve efficiencyto 90.20% & 90.70% from 88% respectively.

3) Condensate recovery system in CDU-II, III, FCCU-I, II.

4) Flare gas recovery.

5) Waste heat recovery from slop cut of CDU-II and CDU-III in steam generators.

6) Supplementary firing in HRSGs.

7) Reduce excess oxygen in DHDS heater (from 6% to 3%).

8) Implement automatic air/ fuel ratio control (for 11-F-01 & 42-F-01).

9) Automatic control system to minimize LPG vaporization.

Due to the above energy conservation measures, the savings will be around 15078 SRFTper year resulting in equivalent monetary gain of approximately Rs.34.86 Crores per year.

b) Impact of above on energy conservation measures and consequent impact on cost ofproduction of goods.

Refineries estimated energy saving from various ENCON measures undertaken during theyear 2009-10 is as follows: Mumbai Refinery: Approximately 19940 SRFT, which is equivalentto Rs. 44 crores/year.

Visakh Refinery: Approximately 3647 SRFT, which is equivalent to Rs. 8.50 Crores/year.

c) Total energy consumption and energy consumption per unit of production :

Please refer Form-A of the Annexure I to the Directors Report.

II) TECHNOLOGY ABSORPTION, ADAPTATION & INNOVATION

a) Efforts made towards technology absorption, adaptation & innovation informationis given in Form-B of the Annexure I to the Directors Report

b) Imported Technology (Imported during last 5 years)

Technology Imported Year of Import

Whether fully absorbed or not

If not absorbed, Reasons
Mumbai Refinery
Isomerisation Unit 2004 No Project is under commissioning
Prime G+ Unit 2004 Yes
Continuous Catalytic Reactor-CCR 2004 Yes
Fluidized Catalytic Cracking Unit (New) 2004 No Project is under implementation
Flue Gas Desulphurization 2005 No Project is under implementation
Lube Iso-Dewaxing Unit 2006 No Project is under implementation
Diesel Hydro Treater (DHT) 2008 No Project is under implementation
Visakh Refinery
Isomerisation Unit 2004 No Plant under commissioning
Continuous Catalytic Reactor-CCR 2004 Yes
Prime G+ Unit 2004 Yes
Fluidized Catalytic Cracking Unit (Revamp) 2004 No Plant under construction
Sulfur Recovery Unit 2005 Yes
Diesel Hydro De-sulfurisation Unit 2nd Reactor 2005 Yes
APC by M/s Honey Well-RMPCT 2005 Yes
Online Cleaning of Heaters 2006 Yes
Use Of Regen Flue Gas Sulfur Reduction Additive 2006 Yes
New catalyst in FCCU-II (UOP) to improve LPG yield 2007 Yes
New ZSM-5 additive in FCCU-I to improve propylene yields and CRN octane 2007 Yes
New type Nozzles in Wash Oil Distributor in Vacuum column (CDU-I) 2008 Yes
Refractro type Skin Thermocouples in Furnaces (CDU-I) 2008 Yes
Diesel Hydro Treater (DHT) 2008 No Project is under implementation

III) FOREIGN EXCHANGE EARNINGS AND OUTGO

a) Activities relating to exports:

Various initiatives have been taken to increase exports and for development of newExport markets for products and services. Efforts are on to access international marketsand to tap export potential for free trade products and lubricants.

b) Total Foreign Exchange used and earned:

Please refer Notes to Accounts – Schedule 20B, Note 17 F, G, H & I.

Form A

FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY MUMBAIREFINERY

2009-10 2008-09
(A) Power and Fuel Consumption
1 (a) Electricity Purchased
Units (Million KWH) 132.61 86.19
Total Amount (Rs./Crores) 71.46 50.54
Rate Per Unit (Excluding demand charges) (Rs./KWH) 4.86 5.12
Maximum Demand Charges (Rs./Crores) 7.01 6.42
(b) Own Generation
Through Steam Turbine / Generator
Units (Million KWH) 298.15 259.51
Units per tonne of fuel 2636.67 2499.57
Cost per unit (Rs./KWH) 2.20 8.04
2 Furnace Oil / Liquid fuel (LSHS/HSD)
Quantity (Thousand tonnes) 168.15 138.56
Total amount (Rs./Crores) 368.21 317.89
Average rate (Rs./tonne) 21898.00 22943.00
3 Other /Internal Generation :
i. Naphtha
Quantity (Thousand tonnes) 24.00 108.76
Total amount (Rs./Crores) 70.55 349.17
Average rate (Rs./tonne) 29394.00 32104.00
ii. LPG
Quantity (Thousand tonnes) 8.63 8.07
Total amount (Rs./Crores) 23.70 26.54
Average rate (Rs./tonne) 27467.00 32881.00
iii. Refinery Gas
Quantity (Thousand tonnes) 71.94 70.24
Total amount (Rs./Crores) 157.53 161.15
Average rate (Rs./tonne) 21898.00 22943.00
iv. BH Gas
Quantity (Thousand tonnes) 8.03 10.88
Total amount (Rs./Crores) 6.46 9.54
Average rate (Rs./tonne) 8043.00 8771.00
v. RLNG
Quantity (Thousand tonnes) 129.51 -
Total amount (Rs./ Crores) 252.40 -
Average rate (Rs./tonne) 19489.00 -
vi. Coke
Quantity (Thousand tonnes) 34.50 32.37
Total amount (Rs. /Crores) 75.55 74.27
Average rate (Rs./tonne) 21898.00 22943.00
(B) Consumption per Unit of Production
Electricity (KWH/ Tonne of Crude) 61.85 51.97
Liquid Fuel (Ton/ Thousand Tonnes of Crude) 27.59 37.18
Fuel Gas (Ton/ Thousand Tonnes of Crude) 12.72 13.41
Coke (Ton/ Thousand Tonnes of Crude) 4.95 4.87
VISAKH REFINERY
(A) Power and Fuel Consumption
1 (a) Electricity purchased
Units (Million KWH) 6.83 11.80
Total amount (Rs. Crores) 5.20 6.75
Rate Per Unit (Excluding demand charges) (Rs. /KWH) 3.04 3.05
Electricity Exported (Million KWH) 0.26 0.26
Maximum Demand charges (Rs. crores) 3.12 3.15
(b) Own Generation (CPP)
Units (Million KWH) 355.74 291.90
Cost Per Unit (Rs./KWH) 6.93 6.50
Units Per Ton of Fuel 2363.96 2674.20

 

2009-10 2008-09
2. Furnace Oil /LSHS
Quantity ( Thousand Tonnes ) 131.48 129.43
Total amount (Rs./Crores) 292.60 308.81
Average Rate per unit (Rs./Ton) 22253.00 23858.00
3. Other/Internal Generation
i. CPP Fuel
Quantity ( Thousand Tonnes ) 150.48 109.15
Total amount (Rs./Crores) 449.81 367.93
Average Rate per unit (Rs./Ton) 29891.00 33708.00
ii. Naphtha (DHDS)
Quantity ( Thousand Tonnes ) 45.05 45.23
Total amount (Rs./Crores) 132.27 152.00
Average Rate per unit (Rs./Ton) 29358.00 33603.00
iii. Refinery Gas
Quantity ( Thousand Tonnes ) 141.50 102.14
Total amount (Rs./Crores) 322.01 235.67
Average Rate per unit (Rs/Ton) 22757.00 23073.00
iv. Coke
Quantity ( Thousand Tonnes ) 73.79 81.09
Total amount (Rs./Crores) 163.90 188.15
Average Rate per unit (Rs./Ton) 22212.00 23202.00

(B). Consumption per unit of production:

Electricity KWH/Ton of Crude 41.19 33.14
Liquid fuel (Tons/ Thousand Tonnes of Crude) 37.18 31.00
Gas fuel (Tons/ Thousand Tonnes of Crude) 16.09 11.16
Coke Fuel ( Tons / Thousand Tonnes of Crude ) 8.39 8.86

FORM - B

FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO ADAPTATION & INNOVATION

1. RESEARCH & DEVELOPMENT (R&D)

COLLABORATIVE R&D PROJECTS

MOUs have been finalized with Research collaborators for the following projects:

Mumbai Refinery:

Optimization studies of food grade Hexane manufacturing unit and feasibility study forproducing polymer-grade Hexane (With IIP)

It is planned to establish optimum operating conditions & to produce internationalgrade hexane with maximum product yield & minimum utilities requirement.

During 2008-09, a successful test run was conducted for the above jointly with IIPDehradun with the following objectives:

a. To establish optimum operating conditions for NMP unit and achieve WHO graderequirement of less than 500 ppm aromatics in treated hexane on sustained basis.

b. Feasibility of production of polymer grade/WHO/Pharma grade hexane.

The test run confirmed the feasibility of achieving WHO grade requirement of less than500 ppm aromatics in treated hexane on sustained basis. However other parameters of WHOgrade such as PAH (Polycyclic Aromatic Hydrocarbon) & NVR (Non Volatile Matter) couldnot be achieved. The test run also identified certain improvement schemes and changes inoperating philosophy to produce less than 500 ppm aromatics product on sustained basis.These schemes were developed during 2009-10 and are being implemented.

Expenditure on R&D through Revenue budget was Rs. 9.90 Lakhs.

Visakh Refinery:

Membrane Separation Study to recover Propylene from Visakh Refinery Gas Mixture &LPG (With IICT Hyderabad)

a. Collaborative R&D is in progress with IICT Hyderabad for membrane separationof propylene from LPG.Validation of Membrane and test run with pure gas was done. Test runwith gas mixture is being carried out for different membranes. IICT is in process ofwriting simulation program for determining the number of stages for achieving desiredpropylene purity and membrane area requirement based on feed capacity and composition ofC3 fraction.

b. To facilitate treatment of the bioremediated sludge for reducing the oil content andheavy metals, Refinery has entered into an agreement (presently coordinated by CorporateR&D) with local GITAM Engg College for the following projects at a Cost of Rs. 39.34Lakhs:

• Bioremediation of petroleum oil by non pathogenic micro-organisms.

• Biodesulphurisation of petroleum oil by non pathogenic micro - organisms.

• Phytoremediation: Selection of plant species for selective absorption of oil andheavy metal contents from sludge. The plant species will selectively absorb the pollutantsin its rhizophore and does not allow the pollutants to get leached into the groundcontaminating the ground water table. These plants can be harvested and fresh saplingsplanted for future treatments. The harvest plants will be incinerated.

Latest high efficiency adsorbent for Hydrogen Unit PSA to improve Hydrogen recoveryfrom 85.5% to 88%.

c. Gamma scanning of CDU3 and ARU columns with BARCs help for health check of columns.

d. Procured Aspen One Software for Process Simulation and Modeling of all RefineryUnits and Processes.

Expenditure on R&D through Revenue budget was Rs. 4.03Lakhs

The total expenditure on R&D for both the refineries was Rs. 13.93 Lakhs.

2. UPGRADATION INITIATIVES

Mumbai Refinery

(i) After completing successful collaborative R&D project with IIP Dehradun, MumbaiRefinery started processing FCCU residue on regular basis in lube solvent extraction unitto generate superior grade (High BMCI) CBFS and FCCU feed. This helped Refinery inreducing LSHS generation & upgrading heavy ends to value added products like LPG,Gasoline & Diesel.

(ii) After carrying out a successful test run to upgrade the regular Bright Stockextract to superior quality Treated Aromatic Extract (TRAE), Mumbai Refinery startedsupplying TRAE (trade name Diana Process Oil SR 28) on regular basis to M/s Union SekiyuKogyo Co. Ltd. Korea. TRAE is also being supplied to other prospective buyers in India.Refinery achieved savings of around Rs 80 Lakhs from 1.6 TMT TRAE supplied during 2009-10.

(iii) Hydrogen is being used in Mumbai Refinery in various hydro treating/hydro-finersunits for sulfur removal. In order to optimize hydrogen generation cost, Refineryimplemented an in-house developed scheme to produce hydrogen using RLNG as feed inHydrogen generation unit in place of Naphtha. The potential benefit envisaged from thescheme is around Rs 40 crores/year. The scheme has also appreciably reduced CO2 emission.

(iv) Mumbai Refinery has successfully implemented Advance Process Control in Fuelsunits and Lube solvent extraction units for online optimization of these process units.During the year 2009-10, APC was implemented in HGU, DUU and PDU units. Potential benefitof about Rs.1.68 Crores was obtained due to reduction in Hydrogen flaring in HGU and steamoptimization in DUU. Better unit stability and dewaxed oil yield improvement of 0.7 wt%was observed in PDU.

(v) During 2008-09, HPCL’s Mumbai Refinery had signed agreement with US TradeDevelopment Agency (USTDA) for Technical assistance grant related to bottom upgradationproject at Mumbai Refinery. HPCL is the first oil company to get this grant from USTDA.

Under this Bottoms Upgradation project Refinery will be installing a new SolventDeasphalting (SDA) Unit to extract FCC feed from high sulfur vacuum residue. Currentlythis vacuum residue is being routed to low value fuel oil pool which also necessitatesdowngradation of diesel streams to fuel oil.

During 2009-10, a Detailed Feasibility Report (DFR) was prepared for this SDA unitproject jointly by Kellogg Brown & Root (KBR) & HPCL.

(vi) The Propane De-Asphalting unit (PDA) at Mumbai Refinery was commissioned in 1995for the production of Bright Stock. The unit is designed for a thruput of 65 m3/hr.Refinery is carrying out a project to revamp this unit to achieve following objectives:

• To increase the thruput capacity from present 65 m3/hr to 90 m3/hr. The surplusDAO, after meeting Bright Stock requirement will be used as a feed for FCCU.

• To reduce energy consumption by 30% by converting the unit to Residuum OilSupercritical Extraction (ROSE) technology.

The Basic Engineering Package for the revamp has been developed by M/s KBR.

(vii) Carried out feasibility study and detailed Engineering for improving heaterefficiencies from 88% to 91% and capacity enhancement by about 5% and low NOX Burners forFRE (CDU-II) heaters (atmos heater and vacuum heater).

Visakh Refinery

(i) Commissioned PFD in CDU-I thruput inhouse design and thruput was increased by 30m3/hr. (ii) Evaluated new crudes: Okono, Akpo, Nowrooz (mixed with Iran Light), Amenam.

(iii) First time processed new crude called "Sooroosh" (high viscous and highresid yielding crude blended with Iran Light).

(iv) Processed high TAN Escravos crude (blended with low TAN crudes).

(v) Carried out feasibility study and detailed engineering for improving heaterefficiencies from 88% to 91% and capacity enhancement by about 5% and low NOX burners forCDU-II heaters (atmos heater and vacuum heater).

(vi) Commissioned Crude line de-emulsifier dosing facility to enhance water removalfrom crude. (vii) First time started producing VG-10 grade Bitumen production.

(viii) Commissioned Bitumen coastal loading facility and started bitumen exporting.(ix) Commissioned VGO export facility.

(x) Implemented Shell proposals for refinery improvements and benefits to the tune ofabout 13.9 million USD.

Annexure-II

Control of Pollution & other Environment initiatives undertaken by Refineriesduring 2009-10: Mumbai Refinery A. Hazardous Waste Management

• Mumbai Refinery has processed 40,000 m3 of oily sludge from crude oil tanksbottom and recovered 28,000 m3 of potential oil by adopting "Mechanical Oil RecoveryTechnology" with net gain of Rs. 19.5 Crores.

• Bio-remediation of the left low oily sludge (<10% oil content) after therecovery of potential oil from the crude tank bottom sludge has been undertaken as per thegrant of authorization of Maharashtra Pollution Control Board.

• Spent catalysts / old chemicals/ discarded chemicals are being disposed off tothe registered "Common Hazardous Wastes Treatment Storage Disposal Facility"(CHWTSDF) as well as to MPCB/CPCB approved Recyclers depending on the characteristic andcriteria of the hazardous wastes. 550 tons of spent catalyst has been disposed off tilldate.

B. Air Emission Control & Monitoring

• Three stacks under Green Fuel Emission Control Project (GFEC) have beencommissioned under Continuous Stack Monitoring System (CSMS) as a part of online emissionmonitoring program.

• Online continuous "Electronic Display Board" of ambient air qualityand treated effluent data at Mumbai Refinery.

• Volatile Organic Compounds study for the entire refinery has been undertaken toaddress the revised environmental norms and leak detection & repair programme has beenput in place to quantify the VOC emissions and take preventive measures.

C. Effluent Water Treatment & Control

• Rotary Drum Skimmers (RDS) have been installed & commissioned upstream ofold and new API separators for efficient recovery of free oil.

• To achieve the recently revised effluent norms for petroleum refineries byCentral Pollution Control Board, Mumbai Refinery has recently undertaken commissioning ofan Integrated Effluent Treatment Plant (ETP) thereby replacing the conventional effluenttreatment with Cyclic Activated Sludge treatment followed by Membrane Bio-Reactor &reverse Osmosis.

Other initiatives at Mumbai Refinery

• Switch over from liquid fuel to Natural Gas accomplished thereby resulting inreduced specific energy consumption from 0.40 to 0.35 in GTG’s (Estimated Savings14000 SRFT/Year).

• Online chemical cleaning of 10 Nos. of furnaces was carried out resulting infuel savings of 1096 SRFT/Year.

• Improved DUU furnace preheats by installing the additional heat exchanger in rawdiesel pre heat circuit. Savings Achieved is about Rs. 6.0 Crore/Year.

Achieved savings of 1200 SRFT / Year on commissioning of Propane Gas recovery at Luberefinery.

Visakh Refinery

A. Hazardous Waste Management:

• Disposed 1191 MT of oily sludge and 5.74 MT of spent ZnO catalyst to CPCBauthorized recyclers during 2009-10 and disposal of 3962 MT of sold oily sludge is inprogress.

• Obtained membership of "M/s. Hyderabad Waste Management Project, Dundigal,Rangareddy (Dist)" on 26th November, 2009 for disposal of Hazardous &Non-hazardous wastes through secured land filling and incineration.

• 800 nos. of drums containing off-spec Bitumen were processed in "Off-SpecBitumen Melting Facility" during 2009-10.

• Tender was floated by VPT in March-2010 for procurement of Pressure InflatableBoom and Permanent Boom as a part of "Tier I Facility".

B. Emission Management

• DHDS SRU Train – III was commissioned on 21st August, 2009 fortreatment of Acid amine gas and Sour water Stripper gases.

• DHDS SRU Train-I catalyst was replaced during T&I in December 2009.

• World Environment Day was celebrated on 5th June, 2009 Saplings andposters on environment were distributed on this occasion.

• Leak Detection & Repair for fugitive emissions was conducted as per CPCBnorms. Survey was conducted on a quarterly basis for Heat Exchangers, Pumps and compressorseals & Pressure relief valves.

• SO2 management guideline was revised in May 2009 to ensure emissions complianceunder post-VRCFP operating scenarios.

C. Liquid Effluent Management

• Excess Oil ingress project facilities in Effluent Treatment Plant-II for A, B& C streams were commissioned during December 2009 - February 2010.

• VRCFP Sour Water Stripper Unit was commissioned in June 2009. FCCU-II Sour WaterTreatment is being carried out in VRCFP Sour Water Stripper Unit since August-2009 forbetter removal of Ammonia and H2S.

• External Training program by NPC, Chennai conducted for all the ETP personnel inApril 2009.

• Sludge Thickener and Centrifuge were revived in ETP-I in March 2010 to reducethe sludge generation.

• Merox clarifier repair jobs were completed in ETP-II and it was taken in servicefrom December-09.

• MS block effluent is being treated in ETP-II.

• Consent for Operation (CFO) for VRCFP units was issued by APPCB, which is validtill 30th September, 2010.

Other activities undertaken:

• MSDS manual for the Process Chemicals used in the Refinery has been compiled andreleased to all the concerned Division Heads in the Refinery.

• Applied for Consent For Operation (CFO) for VR and Mounded LPG & Propylenestorage.

Annexure - III

Information as per Section 217(2A), read with Companies (Particulars of Employment)Rules, 1975 and forming part of the Directors’ Report for the period 1st April, 2009- 31st March, 2010.

Sr. No. Name Designation/ Nature of Duties

Remuneration (Rs.)

Qualification Exper ience Date of Joining Age Last Employment
(Yrs) (MM/DD/YYYY)
1 2 3

4

5 6 7 8 9
1 ABDULLA M A R DGM - Operations

2,480,284

BSc 38 11/05/1975 59 Calico Chemicals Plastics & Fibres
Division
2 AGARWAL K C GM - Maintenance 2,424,570 BE (Mech) 34 11/03/1978 59 Century Spinning & Mfg Co.
3 AGRAWAL D K DGM - Operations 2,509,113 BSc, DMS 38 03/01/1973 59 M/s Esso Standard Refining Company of India Ltd.
4 AGRAWAL PRAFUL CHANDRA Executive Assistant to C&MD 2,569,912 B Tech ( Chemical) 27 01/28/1983 49 Nil
5 AGRAWAL R D Sr. Manager - Network Planning 2,446,567 LLB, MA 30 05/12/1979 54 Nil
6 ALAGARSAMY T * Sr. Manager - South Asia LPG 2,524,207 BE (Mech) 25 11/05/1984 49 Nil
7 ARULNATHAN JACOB BRIAN Ch. Regional Manager 2,700,228 BSc, BE (Electrical) 24 09/30/1985 48 Nil
8 BABURAM SAMARCHAND Sr. Manager - FM 2,419,759 DEE 32 07/02/1981 57 Garrison Engineer MES, Baroda
9 BALADHANDAYUTHAPA N Ch. Manager - ISPRL 2,499,718 BE (Civil) 22 12/28/1987 43 Nil
10 BALAKRISHNAN ARUN Chairman & Managing Director 3,019,180 BE (Chemical), PGDM - IIM Bangalore 33 08/01/1976 59 Nil
11 BEHURA BICHITRA KUMAR Sr. Manager - Net Work Planning 2,465,611 BE(Mech), DBM, MBA, PGDMM 24 10/23/1985 46 Director Tech Education
12 BERA ASOKE DGM - IT Facilities 2,801,971 BSc 33 01/16/1978 55 Anant Construction
13 BHAN A K GM 2,419,786 BE (Chemical) 33 08/02/1979 57 Bhartia Electric Steel Co Ltd. (Chemical Division)
14 BHAN RAVI PRAKASH Ch. Manager - Maintenance Planning 2,440,746 BSc Engg (Mechanical) 27 04/26/1983 49 Nil
15 BHARARA V Sr. Manager - Operations 2,451,610 DMM, MSc, M Phil 29 07/02/1980 53 Nil
16 BHASKARA RAO M DGM - Quality Assurance 2,453,851 B Tech ( Chemical) 32 04/17/1978 57 Nil
17 BHATIA BALDEV Ch. Installation Manager 2,700,612 BE(Mech) 21 05/16/1988 46 Nil
18 BHATNAGAR S Ch. Manager - Technical Audit 2,572,149 BSc Engg (Mechanical), Post Graduate Diploma in IE 27 07/01/1983 52 DEI Engineering College, Agra
19 BHIRUD VIJAY S DGM - Recruitment Manpower Planning & Personnel Management 2,607,166 MSc 31 12/24/1979 53 Junior College, Savda
20 BISWAS NILKANTA ADURAM DGM-MDPL Product Co-ordination 2,515,381 BSc Engg (Petroleum Tech), DMM, DMS 28 07/06/1981 54 Nil
21 BISWAS SUBHANKAR DGM - Distribution 2,520,665 B Tech (Mechanical), PGDBM 26 06/17/1983 49 Nil
22 CHAKRABORTY SNEHANGSHU DGM 2,434,338 BSC, BE (Electrical) 28 05/22/1982 57 Secretary to Govt. of Assam, Irrigation Department
23 CHATTERJEE DEBJYOTI Manager - Pipelines Operations 2,715,385 BSc Engg (Mechanical) 21 04/03/1989 43 Nil
24 CHAUDHRY S P * ED - Retail Strategy & Business Development 3,470,149 BE (Mech), MBA 40 02/16/1976 60 National Engg. Industries Ltd. Jaipur
25 CHAVAN REKHA RAMAKANT Sr. Manager - Co-ordination 2,505,808 BA 37 07/10/1974 57 Vishwakarma Builders
26 CHOUTY V L Ch. Manager - Commercial 2,419,059 DMS, M.Com 30 12/17/1980 52 The Sriram Warping & Sizing Co-op Society Ltd.
27 DAMLE MAHESH SHRIPAD ED - Retail 2,716,305 BE (Mech) 30 12/29/1980 54 The Kiroloskar Tractors Ltd.
28 DANI J N * Dy. Manager - Maintenance 3,146,838 SSC/SSLC 34 11/17/1975 60 Nil
29 DANIEL SANTHOSH K DGM - OPRM 2,515,530 B.Com, FCA/ACA 28 05/12/1986 51 Emjak Industries Pvt Ltd., Hyderabad
30 DASGUPTA S Ch. Manager - Purchase, CEC 2,818,760 BE (Electrical) 26 11/21/1983 51 Nil
31 DATTA ABHISHEK Ch. Installation Manager 2,551,363 B Tech (Chemical) 26 01/20/1986 47 Ion Exchange (I) Ltd.
32 DEKATEY PRAMOD TARACHAND Manager - Mechanical 2,441,372 BE (Mech) 21 12/30/1988 46 Nil
33 DESAI BATUKCHANDRA RASIKLAL Sr. Regional Manager 2,480,902 BA, MBA, PGDFM 23 09/30/1987 47 M/s. Pioneer Electric Furnace Manufacturers
34 DESHPANDE D K ED - HRD 2,727,072 BE (Chemical), DMS 32 12/18/1978 55 Ion Exchange (I) Ltd.
35 DHAR SUSHANTA Ch. Manager - Retail Upgradation 2,435,235 BE (Electrical) 25 11/08/1984 49 Nil
36 DIVAKAR G Sr. Manager - Operations 2,410,038 B Tech (Civil) 27 11/18/1982 54 Executive Engg Div Office M.I.I. Divn, Bangalore
37 DIVAKAR NIMMAKAYALA Ch. Manager-Branding 2,606,825 B Tech ( Chemical) 26 01/16/1984 49 Nil
38 DWAYAPAYANUDU J S K Ch. Manager - Finance 2,455,703 B.Com, FCA/ACA 24 06/02/1986 51 M/s. Capol Farm Equipment Ltd., Secunderbad
39 ELANGO RAMAMOORTHY DGM - HR 2,992,127 MA 29 09/02/1985 49 Hindustan Motors Ltd.
40 GAIKWAD SHEKHAR P DGM - Projects 2,712,723 BE (Mech), Master in Finance Management 27 05/25/1983 48 Godrej & Boyce
41 GANESAN K Sr. Manager - Installation 2,466,474 BSc, PG (PM&IR) 32 10/23/1979 55 Southern Telecommunication Region
42 GATLEWAR PADMAVALLI ARUN Sr. Manager - Project Purchase 2,560,035 BA, LLB, DAM, DMM 33 05/26/1976 53 Nil
43 GHANEKAR A K * Manager - Electrical 2,870,340 SSC/SSLC 41 03/06/1972 60 Industrial Engineering Controls
44 GHORPADE A D Ch. Manager - OM&S and Loss Control 2,499,938 BSc, Dip in Ind Safety, PG DIP IN OCC HEALTH & ENV MGT 32 12/15/1977 54 Nil
45 GHOSH SUBRATA KUMAR DGM - Finance (Mktg.) 2,692,125 B.Com, FCA/ACA 26 06/15/1987 46 M/s. Price Waterhouse
46 GOKHALE A P DGM - Infrastructure 2,588,601 BSc 38 09/04/1973 57 Unique Pharmaceuticals Lab
47 GOUR GOPAL BANIK Ch. Manager - SHE 2,539,614 BE (Mech) 31 05/06/1980 54 Engineering Enterprises
48 GOVINDAN K M * DGM - Projects 3,282,067 BE (Electrical), PGDBM 34 06/01/1977 60 Indian Bank
49 GULATI VIKRAM DGM - Corporate Accounts 2,612,147 B.Com, LLB, FCA/ACA, CFA 24 03/31/1987 48 S.N. Dhawan & Co, New Delhi
50 GUPTA JAYANT Ch. Manager - Network & Infrastructure 2,428,345 BSc Engg. (Electrical), M. Tech (Mechanical) 22 12/28/1987 44 Binatone Electricals Pvt Ltd.
51 GUPTA PRADEEP KUMAR DGM - Retail 2,707,678 ME Agriculture 27 11/21/1983 51 National Seeds Corpn Ltd., New Delhi
52 GUPTA SATYA PRAKASH Director - Finance (PP&AC) 2,465,131 B.Com, FCA/ACA 27 11/18/1982 51 M/s. S.R. Batliboi & Co, Chartered Accountants, New Delhi
53 HASYAGAR SHRIKANT RAMCHANDRA DGM - Finance 2,766,227 B.Com, FCA/ACA 24 06/06/1988 47 K.N. Guruswamy & Co Ltd.
54 HOTA DEEPAK KUMAR GM - MRA & P 2,707,875 BA, PG (PM&IR) 27 04/15/1983 49 Nil
55 IDICULA SHAJI DGM - Maintenance 2,471,764 BOE, DME 28 05/02/1989 50 Ballarpur Industries Ltd.
56 IYER K K NARAYANAN Manager - Operation (Shift) 2,597,820 BSc 30 12/03/1979 53 Carsher Trading Corporation
57 IYER NARAYANAN H DGM - Legal (Marketing) 2,506,901 LLB, ACS, ICWA, M.COM 24 09/30/1985 45 Deepak Shah (Chartered Accountants)
58 JAGANNADHARAO N S GM - Operations 2,730,056 B. Tech. (Chemical) 30 04/11/1980 53 Nil
59 JEYAKRISHNAN S GM 2,628,723 BA 28 08/24/1981 50 Nil
60 JINDAL KUMAR ASHOK Ch. Manager - O&D 2,770,094 BE (Electrical) 27 11/08/1982 50 Nil
61 JOSHI PUSHP KUMAR GM - HR (Mktg.) 2,870,969 BA, PG (PM&IR) 23 05/19/1986 45 Nil
62 JUNEJA HARJIT SINGH DGM - Retail Lubes 2,410,267 BE (Mech) 28 06/21/1983 49 Punjab Tractors Ltd., Chandigarh
63 KALYANARAMAN T K * GM - Special Projects 4,510,419 B. Com, FCA/ACA 35 02/17/1978 60 Indian Oil Corporation Ltd.
64 KAMBLE DINESHKUMAR KRISHNARAO Ch. Manager - EP (LPG) 2,403,333 BE (Civil), DBM 31 06/01/1978 53 Nil
65 KAPALEY NIRANJAN DATTATRAYA* Ch. Installation Manager 4,189,082 BE (Mech) 27 01/27/1983 50 Nil
66 KARMARKAR SANDEEP NARAYAN DGM - Information Systems 2,545,775 B. Tech (Mech), Post Graduate Diploma in IE 24 07/01/1985 47 Nil
67 KARNAD U * Ch. Installation Manager 3,064,288 BSc, DBM 35 10/18/1979 60 Hairhar Polyfibers
68 KATKAR D H DGM - Fire & Safety 4,346,914 BOE, DME 40 04/27/1989 60 Indian Brewers Ltd.
69 KESAVAN R GM - Commercial 2,572,591 BSc, FCA/ACA 28 08/26/1985 48 K.R. Subramanian & Co Chartered Accountants
70 KHANNA ASHISH Sr. Manager - Marine Sales 2,618,630 BE (Mech) 22 12/28/1987 46 Nil
71 KOSHATWAR R K DGM - Supplies 2,731,764 SSC/SSLC, BE (Mech), DME 33 10/03/1979 53 Tata Institute of Fundamental Research
72 KOSTA NIRMAL KUMAR Ch. Manager - Resident Co-ordination 2,850,562 Licensiate in Mechanical Engg. 31 04/08/1980 55 The Burn Standard Company Ltd.
73 KOTA VENKATA RAJU DGM - Legal 2,425,203 B.Com, LLB, PG (PM&IR) 33 11/21/1978 54 M/s. Travel Express
74 KOTHARI PRADEEP KUMAR DGM - Gas Division 2,578,891 BE (Mech), MBA 28 09/01/1982 49 Western India Sports Motors
75 KOTKAR S M * Manager - OM&S (Shift) 1,574,271 BSc 32 12/28/1977 60 AFCO Ltd.
76 KRISHNAMURTHY D V * Manager - Finance 2,484,461 B.Com 36 04/14/1978 60 T.I. Ltd.
77 KRISHNASWAMY C S GM - R&D & QC 2,690,736 BSc Engg. (Electrical) 37 04/19/1976 59 Globe Auto Electrical
78 KULKARNI S K DGM - Minor Project 2,503,969 BE (Civil), MBA 30 02/16/1981 53 M.S.E.B.
79 KUMAR GUPTA ALOK Ch. Manager - Business Development 2,566,201 BE (Electrical) 24 12/28/1987 45 J.K. Synthetics Ltd., Kota
80 KUMAR HAZZARAPU PREM DGM - Audit 2,565,497 B.Com, FCA/ACA 25 08/27/1984 51 B.H.E.L.
81 KUMAR MUKESH Sr. Manager - QC 2,514,391 BSc 24 01/20/1986 46 Nil
82 KUMAR S.R.AMBABAVANI Ch. Manager - Consumer Lubes 2,709,496 BE (Civil) 22 12/28/1987 46 Tungabhadra Steel Products, Karnataka
83 LAKSHMINARAYANAN K Sr. Manager (Special Projects) 2,612,083 B. Tech (Mech), DMM, MBA - Marketing 22 01/09/1989 46 J.K. Synthetics Ltd., Kota
84 LAXMANSINGH L K * Manager - Operations 3,129,931 BA 41 08/26/1968 60 NA
85 LIBEIRO JOSEPH SYLVESTER DGM - Development 2,567,528 BSc 35 10/27/1975 56 Catholic Relief Services
86 MAHESWARARAO K B V * Dy. Manager - Finance 1,267,966 B.Com, Cert Programme (Comp. Appln.) 33 03/13/1980 53 Bharat Heavy Plates & Vessels Ltd., Visakhapatnam
87 MALHOTRA SANJAY Ch. Regional Manager 2,611,134 B. Tech (Electrical) 23 07/28/1986 45 Nil
88 MANE NARAYAN S DGM - HR 2,603,847 BA, MSW 31 06/07/1984 55 Instrumentation Ltd., Kota
89 MARAR RAM MOHAN NARAYANAN* GM - Projects 2,326,605 BSc Engg (Mechanical) 36 02/03/1975 60 Burmah Shell Refineries
90 MARTIN FLORIANO JOHNSON Ch. Manager - Audit 2,452,754 B.Com, FCA/ACA 30 09/02/1985 50 Love Lock & Lewes
91 MEHTA HARISH CHANDER GM - O & D 2,835,109 BE (Electrical) 25 09/10/1984 46 Nil
92 MEHTA RAJNI DGM - IT (Mktg.) 2,599,238 BSc, MSC 28 09/01/1982 53 Kendriya Vidyalaya, Ambala Cantt
93 MEHTA RAJNISH DGM - Retail 2,437,611 BSc Engg. (Mech) 26 11/21/1983 48 MSD Escorts Ltd., Faridabad
94 MEHTA SUDHIR CHANDRA ED 2,682,890 BE (Chemical), DAM 32 01/01/1981 53 Amar Dye - Chem. Ltd.
95 MISHRA SIVA PRASAD * Manager - Finance 1,477,946 B.Com, FCA/ACA 22 11/25/1993 44 Atcon India Ltd., New Delhi
96 MISRI RAKESH GM - North Zone 2,421,652 BE (Civil) 26 09/22/1983 48 Nil
97 MOHAL RAJINDER KUMAR Ch. Manager - Joint Ventures 2,442,285 B.Com, LLB, ACS, FCA/ACA 25 07/30/1984 50 Nil
98 MOHIT RAM RAMNARESH Manager - Maximo, Mntc Planning 2,446,381 BE (Civil) 22 12/28/1987 45 M/s. Pooja Consultants & Contracts
99 MOHNOT MAHENDRA MAL * DGM - Risk Management 2,548,031 B.Com, FCA/ACA 35 04/13/1981 60 M/s. Jiyajeerao Cotton Mills Ltd.
100 MUKHERJEE B Director - Finance 2,590,040 BSc, FCA 36 03/08/1979 56 M/s. Price Waterhouse & Co.
101 MUKHOPADHYAY SUGATO * Sr. Manager - E&P HB. 1,321,781 BE (Civil) 22 12/28/1987 46 Mackintosh Burn Ltd.
102 MURALI KRISHNA P B Ch. Installation Manager 2,688,201 BSc, Dip. in International Business, MBA 25 09/05/1984 49 NA
103 NADKARNI P P MD - Petronet MHB 2,765,370 BSc Engg (Mech) 30 06/22/1981 52 M/s. XLO India Ltd.
104 NAGADA VINIT VISANJI GM - Projects 2,467,975 BE (Mech) 30 05/24/1979 58 Nil
105 NAMDEO B K ED - IT & S 2,574,528 BE (Mech), M.Tech (Civil) 30 09/05/1980 53 Kayande Engineers Pvt Ltd., Nagpur
106 NARAYANAN N R Company Secretary 5,306,970 B.Com, LLB, MBA, ACS 42 09/01/1972 60 Indo American Society
107 NARAYANAN SHHS Sr. Brand Manager 2,550,562 BSc, MA 29 11/08/1982 51 The New India Assurance Co. Ltd.
108 NARAYANASWAMY KRISHNAMURTHY DAVANAGERE Ch. Regional Manager 2,545,505 BE (Mech), Cert. Programme (Comp. Appln.) 25 10/08/1984 49 M.S. Ramiah MSRIT, Bangalore
109 NASRULLAH MOHAMMED Ch. Manager - Infrastructure 2,489,216 BE (Mech), MS 30 09/24/1979 56 Sidda Ganga Inst. of Technology
110 NEHETE NIVRUTTI RAMDAS Sr. Manager - Shift Co-ordination 2,511,971 MSc - Chemistry 29 07/07/1980 53 Nil
111 NEHETE V N DGM - LPG 2,479,134 DME 32 04/21/1980 53 Gajra Gear’s Pvt. Ltd.
112 NETKAR YASHWANTH M * Sr. Manager - LPG 2,975,449 MA 31 12/21/1981 60 Siddarth College of Arts, Science & Commerce
113 NIKALE DR S H Senior Manager - Medical Services 2,623,590 MBBS 21 10/25/1991 50 Bombay Municipal Corporation
114 OAK A V Ch Manager - Refinery Safety 2,483,348 BSc 36 03/01/1976 57 Dyes & Dispersing Agents Pvt. Ltd.
115 OBEROI S K Chief Manager - GGSRL 2,554,008 DCE (Civil), MA (Public Admn) 34 11/13/1979 55 Central Public Works Dept
116 PAL SURANJAN Ch. Manager - Opns (MPSPL) 2,772,155 BE (Civil), Master in Marketing Management 26 09/22/1983 48 Nil
117 PANDE A GM - Retail 2,514,297 BSc Engg (Civil) 26 06/14/1983 50 U.P. State Mineral Development Corporation, Lucknow
118 PANTHAKY SOHRAB NESSERWANJI * Ch. Manager - SHE Audit 2,223,072 BSc 37 08/01/1972 60 Ruttonsha Services Ltd., Mumbai
119 PARATE ANIL MOTIRAM Sr. Manager-Installation 2,530,440 M.Com 33 01/17/1983 55 I B P Co. Ltd.
120 PARIHAR VINOD SINGH Ch. Manager - Info. Sys. 2,488,682 MSc 30 11/08/1982 54 G.M. Mtce, NTR, New Delhi
121 PATIL B B DGM - CS&P 2,436,789 BSc Tech 34 01/19/1981 58 Savita Chemicals Pvt. Ltd., Thane
122 PATIL S S Sr. Manager - PQS & VIP Ref 2,409,064 B.Com 32 12/18/1978 59 Satyanarayan Thard & Co.
123 PAULY K J * Ch. Manager - Distribution 2,347,348 B.Com, DBM 36 07/02/1973 60 Nil
124 PENUMATCHA CHIRANJEEVI RAJU * Sr. Manager - Scrap Disposal 1,747,369 BE (Mech) 31 08/28/1978 60 NA
125 PETER CLEMENT Sr. Manager-Retail Branding 2,583,807 SSC/SSLC, B.Com 30 09/01/1979 54 NA
126 PHADKE SHRIPAD MEGHASHAM Ch. Manager - Information Systems 2,441,417 BSc, CISA 29 11/28/1983 51 Ilac Ltd., Ahmedabad
127 PILLAI RAJAN K Ch. Executive Officer 2,645,181 B Tech (Mech), ME 32 05/01/1978 56 Mahindra & Mahindra Ltd.
128 PRADHAN O P ED - Corporate Strategy & Planning 2,507,739 BSc, DMIT, MBA 34 12/05/1980 56 Garware Plastics & Polyester Pvt Ltd.
129 PRASAD KORLIMARLA SIVA RAMA ED - Joint Ventures 2,707,737 BSc, FCA/ACA 32 04/26/1978 57 Nil
130 PRATAP SURENDRA DGM - Technical Services 2,639,786 B Tech (Electrical) 27 01/17/1983 50 Hyderabad Asbestos Cement Products Ltd., Haryana
131 PREM A Ch. Manager - Projects 2,570,976 BE (Mech) 26 10/18/1983 49 Nil
132 RADHAKRISHNAMURTHY VENTRAPRAGADA DGM - Process 2,969,017 M. Tech (Chemical) 29 02/02/1981 53 NA
133 RAJAMANI S Ch. Mgr - E&P 3,166,093 BSc 36 10/30/1973 57 Nil
134 RAJASEKARAN R V DGM - CPP 2,529,807 B.E.(Electrical & Electronics), Dip. in Labour Laws, Master of Foreign Trade, Pos 27 11/08/1982 49 Nil
135 RAJEEV HAGARGI Sr. Regional Manager 2,416,120 BE (Electronics & Telecom.) 23 01/19/1987 44 Nil
136 RAKESH KUMAR GM - HR (Comp Mgmt) 2,670,894 B.Com, FCA/ACA 34 01/03/1983 53 Unitech Engg Pvt Ltd.
137 RAMAMOORTHY D DGM - E&P 2,473,165 BE (Chemical), DMS 30 03/31/1982 52 Kanara Engg Co Pvt Ltd.
138 RAMESHKUMAR R Sr. Manager 2,417,854 BE (Civil) 28 09/22/1983 51 Shamas Construction Pvt. Ltd., Madras
139 RAO KONEDANA RAJESWARA Joint Director (MC&ES) 2,683,678 B Tech (Mech) 24 01/20/1986 49 Roads & Admn Dept, Hyderabad
140 RAO KOTA SREENIVASA Ch. Regional Manager 2,442,458 BE (Mech) 21 05/09/1988 45 Nil
141 RAO MEDIDI KESAVA Ch. Manager - RCD 2,607,369 B Tech (Chemical) 24 12/16/1985 48 NA
142 RAO RAVIPATI SUDHAKARA ED - Direct Sales 2,620,194 B.Com, FCA/ACA 29 11/12/1981 53 Union Bank of India
143 RAO SHAILESH RAMA DGM - LPG 2,480,614 BE (Mech) 27 11/21/1983 50 Godrej & Boyce Pvt Ltd., Mumbai
144 RAUT VISHRAM SOMA * Manager - IT Facilities 2,038,889 BA 39 07/11/1974 60 Dept. of Atomic Energy, Govt of India - Power Projects Engg Division
145 REEJONIA BHANU PRATAP Ch. Manager - Bhagyanagar Gas 2,573,412 B Tech (Mechanical) 27 09/01/1982 54 Nil
146 ROY CHOUDHURY S Director - Marketing 4,117,641 BE (Mech) 29 06/21/1982 56 Indian Oil Corpn Ltd.
147 ROY RAMANUJ GM - Finance 2,436,247 BSc, FCA/ACA 33 10/19/1981 56 M/s. Fox Rhodes Parks & Co.
148 SABALE D M GM - SHE (Marketing) 2,692,596 DME 37 08/10/1977 58 Mazagaon Dock Ltd.
149 SADU SUNDER P Ch. Manager - HR 2,365,598 LLB, PGD in Psycho. Counselling, PG (PM&IR), MA 22 06/01/1987 50 Nil
150 SAHA ALOK RANJAN * Manager - Operations 1,126,980 BSc-Chemistry 30 02/02/1981 54 Tekme India
151 SAHA ARNAB Sr.Manager - Branding 2,428,985 BE (Mech) 24 10/23/1985 46 Nil
152 SAHA KRIPESH KAMALESH DGM - Network & Infrastructure 2,672,772 BSc, MBA - Marketing 32 05/16/1977 53 B.R.H.M.
153 SAHNI SUBHASH VIKRAM ED - Central Engg. (Refineries) 2,674,156 BE (Mech), DMS 36 02/01/1975 58 India Tube Mills & Metal Industries Private Limited
154 SAIT M F Ch. Manager - Lubes Co-ordination 2,508,667 B Tech (Chemical) 36 04/19/1976 59 Larsen & Toubro
155 SANALKUMAR C S Ch. Manager - Distribution 2,604,804 BSc, MA 29 09/01/1982 52 State Bank of Travancore
156 SARAN RAM Manager - Operations 2,600,914 BSc Engg (Civil) 25 09/10/1984 47 Nil
157 SARKAR SUBIR Ch. Manager - LPG Sales 2,453,682 BE(Electrical) 34 10/16/1978 59 M/s. Jost’s Engg Co. Ltd.
158 SARMA A VISWANADHA GM - Natural Gas 2,901,789 B.Com, PGD in alternative Dispute Res, PGDFM, PG Dip. - Treasury & Forex Mgmt, FC 27 02/02/1983 51 Ponds India Ltd.
159 SATHE AVADHUT BHASKAR * ED - IT&S 4,749,394 BE (Chemical) 37 12/09/1974 60 Hindustan Organic Chemicals Ltd.
160 SATHIAVAGEESWARAN S T Head-Information Systems 2,590,346 BE (Mech), Post Graduate Diploma in IE 26 07/01/1983 50 Nil
161 SAVADI A S * Manager - Conditioning and Monitoring 3,299,831 HSC/Inter/PUC 37 12/24/1973 60 Larsen & Toubro
162 SAXENA RAJEEV Sr. Manager-VIP Ref./PQ 2,605,848 B Tech (Civil), DBM 24 05/30/1985 46 Nil
163 SAXENA VIJAY RAJ Ch. Reg. Mgr 2,607,856 BE (Mech) 24 10/10/1985 47 Nil
164 SEKAR G Sr. Manager - Operations 2,539,193 BSc, LLB 32 05/23/1981 57 Inspectorate of Electronics, Ministry of Defence
165 SEN ASHIS DGM - Balanced Score Card 2,404,510 BE (Mech) 25 10/08/1984 47 Nil
166 SESHAN ANU * Manager - Operations 2,984,248 BA 33 10/27/1976 60 Vulcan Lawal Ltd.
167 SETHI SURENDRA K Ch. Manager - EBD 3,302,414 B. Tech (Chemical), Master of Foreign Trade, PGDBM 27 02/21/1985 49 Hindustan Vegetables Corp. Ltd.
168 SHAH DUSHYANT SHASHIKANT DGM - Commercial 2,408,559 B.Com, FCA/ACA, ICWA 28 08/01/1983 54 A.F. Ferguson & Co.
169 SHENOY VINOD SADANAND DGM - Projects (FCCU/DHT) 2,433,259 B. Tech (Chem), DFM, DMM 24 06/03/1985 47 Nil
170 SHIRODKAR V S DGM - Product 2,835,403 MSc 30 05/19/1980 53 Medicare Pharmaceutical Pvt Ltd.
171 SHIRWAIKAR G A ED - LPG 2,517,775 BE (Mech) 37 02/01/1975 59 V.M. Salgaocar & Brothers PrivateLtd.
172 SHRIVASTAVA BHANU PRAKASH DGM - Inspection 2,866,074 BE (Mech) 35 05/06/1983 59 Indian Petrochemicals Corpn Ltd.
173 SHROFF I J DGM - Project Process 2,515,560 BSc, BSc Tech 30 04/09/1980 57 Calico Chemicals
174 SHROTE VINOD KUMAR Ch. Manager - Bitumen 2,408,570 MSc 27 01/17/1983 50 Nil
175 SINGH AJIT GM - Co-ordination DCO 2,394,860 B Tech (Mechanical) 26 09/22/1983 48 Nil
176 SINGH AMARDEEP VIRK Ch. Manager - Maintenance 2,446,875 Boiler Proficiency, AMIE (Mech), DME 27 03/02/1993 47 Indian Oil Corporation Ltd.
177 SINGH CHHATER Ch. Manager - MLIF 2,462,636 AMIE (Mech), DME 31 10/13/1980 53 Director of Production & Inspection
178 SINGH KOMAL Sr. Manager - Operations 2,537,381 BSc Engg (Electrical) 26 11/21/1983 51 HMT Limited, Ajmer
179 SINGH KRISHNA KUMAR DGM - Projects 2,519,884 BSc Engg (Mechanical) 29 11/30/1981 55 Somaiya Organics (I) Ltd.
180 SINGH KUNWAR PAL * Manager - Operations 3,245,804 DEE 33 12/21/1981 60 Civil Construction Wing, All India Radio
181 SINGH REKHI KULDEEP Ch. Executive Officer 2,952,417 BSc Engg (Mechanical) 26 06/22/1983 50 The General Electric Co of India Ltd, Allahabad
182 SINGH SAHASTRA PAL GM - Exploration & Production 2,889,024 BSc, MBA 33 09/07/1981 55 R&D Centre, IOC
183 SINGH SAWHNEY TEJBIR DGM-Retail Engineering 2,422,693 BE (Mech) 26 11/21/1983 48 Nil
184 SINGH YADAV MAHENDRA DGM - Retail Upgradation 2,552,337 BE, Post Graduate Dip. in IE 24 01/16/1986 49 Nil
185 SINHA AJIT KUMAR Ch. Manager - Projects 2,797,134 BSc Engg. (Mech) 24 06/17/1985 48 Nil
186 SIVARAMULA SREENIVASULU Managing Director - BGL 2,799,932 B. Tech (Civil) 26 01/16/1984 50 Nil
187 SOLANKI DHARMENDRA JAGJIVANDAS DGM-Distribution and Product Co-ordination 2,682,555 DBA, DCE (Civil), Post Graduate Dip. in HRM, PGDMM, PGD in Psycho. Counselling, 28 07/01/1981 48 Narayan Builders
188 SRIDHAR R DGM - Finance 2,444,049 B.Com, FCA/ACA 23 04/03/1987 46 R Sundararaman & Co., Madras
189 SRINIVAS KOLLATI DGM - (I/C)-Aviation 2,514,917 B Tech (Mech) 25 09/19/1984 46 Nil
190 SRINIVASAN S DGM - Information Systems 2,454,056 BE (Ind Engg), ICWA 26 01/16/1984 49 Nil
191 SUBBARAO SATYANARAYAN DGM - Information Systems 2,577,740 B.Com, DAM, Master in Admn. Management 28 02/15/1982 48 Nil
192 SUDHEENDRANATH R Ch. Reg. Manager 3,111,723 B Tech (Mechanical) 26 10/08/1984 48 REC, Calicut
193 SURANA MUKESH KUMAR GM - Projects 2,497,178 BE (Mech), Certd. Proj. Mgmt. Prof. (PMP), Master in Finance Management 27 11/09/1982 48 Nil
194 SUVARNARATNAM M * Ch. Manager-Workshop 1,687,455 BE (Mech) 34 06/08/1979 60 Bharat Heavy Plates & Vessels Ltd., Visakhapatnam
195 SWAMY MVR KRISHNA GM 2,640,612 B Tech (Mech), Post Graduate Dip. in IE 26 07/08/1983 49 Nil
196 TAWALE TUKARAM GOVINDARAO Ch. Manager - Operations 2,533,391 B Tech (Chemical) 28 11/08/1982 52 Indian Petrochemical Corpn Ltd.
197 THAKUR MAHESHWAR Sr. Manager - Operations 2,500,849 BSc Engg. (Mech) 25 10/08/1984 47 Nil
198 THOSAR AVINASH BHALCHANDRA ED - Projects & Pipelines 2,636,186 BE (Civil) 30 05/05/1980 53 Raunag International Ltd.
199 TOKEDAR M * Sr. Depot Manager 3,392,229 DME 36 05/08/1978 60 S.S. Industries, Calcutta
200 VASUDEVA NISHI ED - Information Systems 2,608,895 BA, PGDBM 32 07/16/1979 54 Engineers India Ltd.
201 VENKATANARAYANARAO A DGM - Finance 2,556,176 B.Com, FCA/ACA 22 06/06/1988 48 Lalchand Jain & Co.
202 VENKATARAMAN L Ch. Manager-O and D 2,542,313 BSc, B Tech, Dip. in Automobile Engineering 27 01/27/1983 51 Ashok Leyland
203 VENKATARAMANI S Ch. Manager-Oand D 2,408,939 BSC, Cert. Supply Chain Management, DMM, Dip in ORM, DSM 34 06/23/1980 55 Kaycee Industries Ltd.
204 VENKATESWARA RAO K ED - Corporate Finance 2,580,071 B.Com, FCA/ACA 29 01/11/1982 54 Central Mine Planning & Design Ltd.
205 VIZIASARADHI V Director - HR 2,993,308 BSc, MA 34 12/21/1979 57 Bharat Heavy Plate & Vessels
206 VUNIKILI VENKATA KRISHNAMRAJU DGM - Operations 2,737,940 BE (Electronics & Telecommunication 32 10/31/1979 55 A P Ind. Infrastructure Corpn Ltd.
207 WADHWA SARVESH KUMAR DGM - IS 2,486,045 BE 27 01/17/1983 50 Nil
208 WANKHADE B S * Sr. Manager-Sales 2,142,976 MSc 36 11/14/1980 60 Hindustan Organic Chemicals Ltd.
209 WANKHADE PRAKASH LAXMAN Sr. Manager - Materials 2,589,924 BE (Civil) 21 04/03/1989 47 Nil
210 WATE HEMANT RAMCHANDRA GM - Retail 2,563,463 B Tech (Chemical), DMM 29 03/12/1982 51 D.M.C.C. Ltd.
211 WATWE DINKAR VINAYAK DGM - Operations 2,702,143 BSC 36 11/05/1975 59 Hindustan Organic Chemicals Ltd.

1 * These employees were employed for part of the year and were in receipt ofremuneration at the rate of not less than Rs. 200,000/- per month.

2 Employment in the corporation is non-contractual

3 Employment provides for termination of services by either party giving onemonth’s notice

4 None of the Employees are related to any of the Directors.

Annexure - IV

STATEMENT SHOWING WOMEN EMPLOYEES AS ON MARCH 31, 2010

Group Total No. of Employees No. of WomenEmployees % of WomenEmployees
A 4779 393 8.22
B*
C 6396 404 6.32
D 116 7 6.03
TOTAL 11291 804 7.12

*HPCL has no posts classified under group ‘B’ as the entry in non-managementgrades has been re-classified in group ‘C’ effective 1.1.1994.

   

Peer Comparison

Company Market Cap
(Rs. in Cr.)
P/E (TTM)
(x)
P/BV (TTM)
(x)
EV/EBIDTA
(x)
ROE
(%)
ROCE
(%)
D/E
(x)
Reliance Inds. 226,357.35 12.30 1.39 6.37 13.0 13.9 0.32
I O C L 64,425.65 47.47 1.16 8.11 14.1 11.6 0.92
B P C L 26,432.19 20.16 1.88 7.88 11.4 10.3 1.52
M R P L 10,191.37 11.20 1.41 4.67 19.4 24.0 0.27
H P C L 10,175.83 0.00 0.81 7.99 14.2 9.9 1.92
Essar Oil 7,316.40 65.71 3.07 10.56 11.1 11.2 2.22
C P C L 1,983.94 32.08 0.52 5.65 14.2 13.1 1.15
Omnitech Pet. 4.46 0.00 29.73 0.00 0.0 0.0 0.00

Futures & Options Quote

 
Expiry Date
301.50 5.50  [1.8]%
Instrument: FUTSTK
Expiry Date: 31 May 2012
Open Price: 303.00
Average Price: 302.19
No. of Contracts Traded: 1,807,000
Open Interest: 4,209,000
Underlying: HINDPETRO
Market Lot: 1000
Previous Close: 301.50
Day’s High | Low: 305.40 | 298.70
Turnover (Cr.): 54.61
Open Int. Change: 37,000.00 (0.9% )
View detailed F& O quotes >>

Key Information

Key Executives:

S Roy Choudhury , Chairman & Managing Director 

V Viziasaradhi , Director (Human Resources) 

B Mukherjee , Director (Finance) 

L N Gupta , Director 


Company Head Office / Quarters:
Petroleum House,
17 Jamshedji Tata Road,
Mumbai,
Maharashtra-400020
Phone : 91-22-22863900
Fax : 91-22-22872992
E-mail : corphqo@hpcl.co.in
Web : http://www.hindustanpetroleum.com
Registrars:
Link Intime India Pvt Ltd
C-13 Pannalal Silk
Mills Cmpd LBS Marg
Bhandup West
Mumbai - 400 078

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