This article was originally published in the Brand Finance India 100 2025 report
HMEL has redefined its position as one of India’s fastest-growing Oil & Gas brands with a bold vision for sustainable growth, innovation, and diversification, strengthening its place among India’s top refiners and petrochemical players in the Brand Finance India 100 2025 ranking.
Prabh Das, Managing Director & CEO of HMEL, shares how the company’s young talent, relentless focus on operational excellence, and strong culture of R&D and sustainability are driving HMEL’s journey to lead the future of energy and materials in India.
Interview with Prabh Das
Managing Director &
Chief Executive Officer,
HMEL
How has HMEL emerged as the fastest growing O&G brand in India in recent times?
Since its formation in 2007, HMEL has been a company driven by young minds, fresh ideas, and a commitment to sustainable growth. Making significant strides, HMEL has boldly invested over USD8 billion dollars in refinery, petrochemical, and pipeline assets. Today, HMEL stands proud — the largest company in the state of Punjab in terms of capital investment.
To stay ahead, we’ve embraced a strategy of competing with ourselves— consistently raising internal benchmarks and pursuing continuous improvement across every facet of our operations. This mindset has positioned us among the top refiners in our region, with one of the highest Gross Refining Margins (GRM)—a key indicator of refinery profitability.
Operationally, HMEL has been ranked in the top quartile by the industry's most respected global benchmarking agency across the majority of performance parameters. This recognition reflects our dedication to operational excellence and reinforces our commitment to maintaining world-class standards. Productised approach to sub-brands: The world of technology services, unlike the software products space, does not have differentiated offering-brands.
How has the company leveraged its R&D and innovation culture and how has this influenced HMEL’s brand positioning in the market?
At HMEL, ‘Continuous Improvement and Learning’ is a core value that underpins our culture of innovation. This commitment empowers every employee to bring fresh ideas to the table—ideas that drive efficiency and create value across our operations. To nurture this spirit of innovation, we place strong emphasis on training focused on intellectual property (IP) generation. We view IP not just as a competitive advantage, but as a true reflection of our collective creativity, expertise, and ingenuity.
Our employees are equipped with the skills and tools needed to develop and protect IP, ensuring our solutions remain both cutting-edge and sustainable. We actively support the protection of these innovations by offering assistance in patent filing through accessible legal resources.
Employees who successfully secure a patent are honoured with the ‘Inventor Award’—a recognition celebrated at town halls and special functions, complete with trophies and monetary rewards. HMEL has filed numerous patent applications, encompassing process improvement studies and new process/product technologies, and received many Indian patent grants.
What factors will help HMEL to be a powerful brand in O&G sector, now and for the next 3 to 5 years?
HMEL operates in a highly dynamic and competitive landscape, where staying ahead of industry trends and continuously adapting
our strategies is crucial for sustained success. The sector has always been evolving, and HMEL has consistently been at the forefront of identifying trends and tuning our strategy accordingly.
We were among the first to set up a refinery with a high propylene yield, which serves as petrochemical feedstock. Recognizing the shift towards petrochemicals from fuels early on, we integrated our refinery with a steam cracker, positioning ourselves to capitalize on this trend.
We are also the first refiner to successfully set up a 1G bioethanol plant for fuel supplies, demonstrating our commitment to sustainability and innovation in renewable energy. Looking ahead, we are exploring opportunities in specialty chemicals,
pharmaceuticals, and green / e-fuels sectors. These sectors represent the future of the industry, with increasing demand for sustainable and high-value products.
By diversifying our portfolio and leveraging our expertise, HMEL aims to remain at the forefront of innovation and growth in the
energy and materials space.
What role do you hope HMEL can play in terms of sustainability and the climate change challenge?
Sustainability is not a buzz word for us, but it is a commitment, and an integral part of our daily operations. It is a commitment that starts from the top and permeates through every level of our organization.
HMEL is committed to best-in-class ecology-friendly technologies and practices which includes advanced systems for Sulphur recovery, effluent treatment, and waste management, ensuring a ‘zero bottoms green Refinery’ with no liquid or solid wastage. HMEL is investing heavily in sustainable technologies and diversifying our portfolio to include eco-friendly products.
We have already made significant strides by venturing into the production of e-fuels with our bioethanol plant. This facility not only helps reduce carbon emissions but also supports the transition to renewable energy sources. The substantial increase in our R&D spending underscores our dedication to improving both process efficiency and environmental sustainability.
HMEL's S&P Global Corporate Sustainability Assessment score has increased from 45 in FY2023-24 to 51 in FY2024-25, marking a 13% improvement. HMEL has advanced to the 82nd percentile in the industry, up from the 72nd percentile in the previous year. We have formulated a Net Zero roadmap, which provides a comprehensive view of our decarbonization journey and
will help guide our efforts and investments in the right direction to achieve our target of Net zero by 2040.
