HPCL: Lubes brand first, demerger later; rupee swings manageable

• HPCL expects a more balanced refining-marketing portfolio and stronger growth from its lubricants business.
• MD Vikas Kaushal stated rupee depreciation has been manageable, with limited impact on the company.
• HPCL has reconsidered demerging its lubricants business, focusing on internal growth and branding efforts first.
• The company maintains stable crude sourcing from diverse global regions, adhering to international sanctions.
• HPCL aims to achieve a more balanced refining-marketing profile in the coming quarters.

Why It Matters: HPCL's strategy for currency, crude, and lubes impacts its financial stability and growth.