Gandhar Oil Refinery (INDIA)
- Market cap
- ₹ 2,861 Cr.
- P/E
- 5.6x
- P/B
- 2.14x
- 52-week range
- 115 – 318.9
- ROE
- 10%
- ROCE
- 13%
- Dividend yield
- 0.9%
- Debt / equity
- 0.23
- Sector
- Petroleum Products
- Industry
- Lubricants
- Listed on
- NSE, BSE
About
Gandhar Oil Refinery (India) Limited is an India-based company, which is engaged in the specialty oil industry. The Company manufactures and trades petroleum products / specialty oils, trading in Non-Coking Coal and provides consignment / del-credere agency services for the sale of polymers to local markets. It manufactures White Oils and other allied products that have applications in cosmetics, healthcare, and pharmaceuticals. Its products category includes Industrial Oil, which includes Lube Oil, Hydraulic Oil, and Spark Erosion Oil; Automotive Oil, which includes Agricultural Oil and Gas Engine Oil; Mineral Oil and Petroleum Jelly, which include Spray Oil and White Petroleum Jelly, and Rubber Process Oil. Its products are marketed under the Divyol brand. It operates three manufacturing facilities in Taloja (Maharashtra), Silvassa (Dadra and Nagar Haveli), and Sharjah (UAE). Its subsidiaries include Gandhar Shipping & Logistics Pvt. Ltd., Gandhar Foundation, and Texol Lubritech FZC.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Lubricants: 10 companies →Gandhar Oil Refinery (INDIA) against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)5.6 against a typical 10.5: cheaper than most peers (1st = cheapest).1st of 10
- Sales growth+91.8% against a typical +42.2% from a year earlier.2nd of 8
- Profit growth+692.3% against a typical +158.3% from a year earlier.1st of 8
- Share price, 3 months+11.6% against a typical +3.6%.3rd of 10
- Size₹ 2,860.9 Cr. market value against a typical ₹ 2,460.9 Cr. (1st = largest).4th of 10
Latest announcements
Exchange filings and their impact on the company.
- Q2 FY27 revenue up 73% and PAT up 368% YoY puts FY27 on track for ~65% revenue and ~5x profit growth.
Gandhar Oil Refinery reported very strong Q2 FY27 results with consolidated revenue of Rs 1,848.6 crore, up 73% from last year, and net profit of Rs 186.3 crore, up nearly 4.7 times. For the first half, revenue was Rs 3,578.5 crore and profit was Rs 392.2 crore, already far above last full year. The company took a Rs 21.29 crore exceptional charge for flood damage and stock loss at its Silvassa plant, with no insurance claim recognised yet, and also appointed a Factory Manager for that plant.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Adequate safety
Rated A+ to A by 2 agencies- All agencies agree and none has raised a warning.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CRISIL | Crisil A+ | Stable | 29 Sep 2026 |
| Acuite | ACUITE A | Stable | 6 May 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 29 Sep 2026 | Reaffirmed | Crisil A+ | — | CRISIL | ₹ 1,014 Cr. | |
| 31 Aug 2026 | Rating action | Crisil A+ | — | CRISIL | ₹ 300 Cr. | |
| 6 May 2026 | Reaffirmed | ACUITE A | — | Acuite | ₹ 1,014 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 27 Oct 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2026 and other business matters |
| 22 Jul 2026 | Financial Results/Dividend/Other business matters | To consider and approve the financial results for the period ended Jun 30, 2026, dividend and other business matters |
| 26 May 2026 | Financial Results/Other business matters | Board Meeting intimation to consider and approve the Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and financial year ended March 31st, 2026 and any other business matter with the permission of the chair. |
| 23 Jan 2026 | Financial Results/Dividend/Other business matters | To consider and approve the financial results for the period ended December 31, 2025, dividend and other business matters |
| 12 Nov 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2025 and other business matters |
| 8 Aug 2025 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2025 |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,001 | 1,103 | 939 | 995 | 935 | 1,005 | 962 | 903 | 1,060 | 1,167 | 1,093 | 1,732 |
| Expenses | 925 | 1,018 | 906 | 934 | 895 | 964 | 928 | 857 | 994 | 1,108 | 1,030 | 1,451 |
| Operating Profit | 76 | 85 | 34 | 60 | 40 | 42 | 34 | 46 | 66 | 59 | 64 | 281 |
| OPM % | 8% | 8% | 3.6% | 6% | 4.3% | 4.1% | 3.5% | 5% | 6% | 5% | 6% | 16% |
| Other Income | 2 | 2 | 5 | 5 | 2 | 2 | 4 | 3 | 3 | 4 | 4 | 3 |
| Interest | 15 | 16 | 14 | 13 | 11 | 10 | 14 | 10 | 10 | 10 | 8 | 13 |
| Depreciation | 5 | 5 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 8 | 8 |
| Profit before tax | 58 | 66 | 19 | 46 | 25 | 27 | 17 | 32 | 51 | 45 | 52 | 264 |
| Tax % | 18% | 23% | 37% | 29% | 26% | 24% | 27% | 18% | 22% | 24% | 29% | 22% |
| Net Profit | 48 | 51 | 12 | 33 | 18 | 20 | 12 | 26 | 40 | 34 | 37 | 206 |
| EPS in Rs | 4.91 | 4.83 | 0.93 | 3.15 | 1.86 | 1.98 | 1.19 | 2.68 | 3.68 | 3.31 | 4.16 | 19.65 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 9%
- 5 Years
- 14%
- 3 Years
- 1%
- TTM
- 33%
- 10 Years
- 18%
- 5 Years
- 6%
- 3 Years
- −11%
- TTM
- 300%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- TTM
- —
- 10 Years
- —
- 5 Years
- 15%
- 3 Years
- 10%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Gandhar Oil Refinery (INDIA) | ₹ 259.20 | ₹ 2,861 Cr. | 5.6x | 2.1x | 10% | — |
| Reliance Industries | ₹ 1,190.00 | ₹ 16,10,372 Cr. | 22.2x | 2x | — | 7.7% |
| Oil and Natural Gas Corporation | ₹ 226.00 | ₹ 2,84,314 Cr. | 7.5x | 0.8x | 11.6% | 7.5% |
| Oil India | ₹ 446.10 | ₹ 72,563 Cr. | 10.7x | 1.2x | 12.3% | 20.4% |
| Petronet LNG | ₹ 285.95 | ₹ 44,250 Cr. | 10.5x | 1.8x | 18.6% | 9% |
| Castrol India | ₹ 194.80 | ₹ 19,268 Cr. | 18.9x | 9.6x | — | 16.4% |
Management
- Ramesh Babulal Parekh
- Chairman of the Board, Managing Director
- Samir Ramesh Parekh
- Vice Chairman of the Board, Joint Managing Director
- Indrajit Bhattacharyya
- Chief Financial Officer
- Sanjay Bharadwaj
- Senior Vice President - Manufacturing, Operations Department at Silvassa Plant
- Binal Shankar Khosla
- Compliance Officer, Company Secretary
- Aslesh Ramesh Parekh
- Joint Managing Director, Executive Director
- Jatin Dhamani
- Additional Whole Time Director
Prices are delayed and for information only. Nothing on this page is investment advice.