The problem is like this: two blocks(considered to be point masses) of masses $m$ are simultaneously moving with uniform velocities $v_0$ towards the rods and they hit the edges of rod and stick to it(i.e, perfectly inelastic collision). Each of the rods have a mass $m$(same as the blocks) and have length $l$. They are hinged together in the middle by a friction less hinge. Find the velocity of the hinge just after collision and the angular velocities of the rods about the hinge.
My approach:
Let the vel. of the hinge after collision be $v$. Then by conservation of linear momentum, $$mv_0 + mv_0 = 4mv \Rightarrow v= v_0/2$$
Note: I believe that the centre of mass of the system(two rods and the blocks sticked to them) is at the hinge just after collision.

Let the angular velocity of the rods about the hinge be $\dot\theta$ Now, let us consider the angular momentum of the system abot point $P$. $$2lmv_0=0+2l \cdot m \cdot(v_0/2+\dot\theta l)+ \frac{3l}{2} \cdot m \cdot(v_0/2+\dot\theta \frac{l}{2}) + \frac{ml^2}{12} \cdot \dot{\theta} + \frac{l}{2} \cdot m \cdot(v_0/2+\dot\theta \frac{l}{2}) - \frac{ml^2}{12} \cdot \dot{\theta}$$
On solving, we get $\dot{\theta}=0$
So, according to my equations, the angular velocity is zero. Are my calculations oK? Or am I missing something?

Your linear momentum calculation is pre-supposing that the entire system moves as a rigid body post-impact.
But each of the two hinged pieces could be rotating about the hinge (so that the overall system is not rigid). The center of mass of each piece is distance $\frac{3}{4}l$ from the hinge, so that balance of linear momentum gives $$2mv_0 = 4m\left(v + \frac{3}{4}l\dot\theta\right)$$ rather than just $4mv$ on the RHS.