Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 EBITDA swung to INR9,822 Cr profit from INR14,860 Cr loss in Q1 - Rajasthan refinery running at ~60% utilization; full capacity run expected by Dec with 8-9 MMTPA throughput - HRRL refinery stabilization ongoing; expected uplift of $0.65-$0.7 per barrel in October, targeting full benefit by March - LPG under-recovery INR500 Cr in Q2; buffer receivable from government INR18,049 Cr - Freight costs doubled Q1 to Q2; crude sourcing volatile with mix shifting to delivered basis - Digital initiatives progressing with AI-enabled supply chain and automation - Marketing: 10% retail outlets have non-fuel retail; LPG Navya market leader; EV charging revenue tripled - Equity infusion and debt restructuring at Rajasthan refinery reduced interest cost by ~105 bps - Expect 95% of HPCL product needs met internally post Barmer refinery ramp-up - Management cautious on crude price volatility; continuing efforts to optimize operations and financials