Gandhar Oil Refinery (India) Ltd
Gandhar Oil Refinery (India) Ltd (GANDHAR) last reported results for the quarter ended Jun 2026, with sales of ₹1,732 crore and net profit of ₹206 crore. The stock last traded at ₹282, a market capitalisation of ₹2,765 crore, on a P/E of 9.21. Over the past 52 weeks the stock has ranged between ₹115 and ₹303. Figures are as of 6 Oct 2026 and are not real time.
Gandhar Oil Refinery (India) Ltd share price and key metrics
- Current price
- ₹282
- Market cap
- ₹2,765 cr
- Stock P/E
- 9.21
- Book value
- ₹138
- ROE
- 10.5%
- ROCE
- 13.3%
- Dividend yield
- 0.71%
- 52w high / low
- 303/115
Metrics as of 6 Oct 2026. Not real time.
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Gandhar Oil Refinery (India) Ltd growth and returns
- 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
- %
- 1 Year
- 97%
- 10 Years
- %
- 5 Years
- 15%
- 3 Years
- 10%
- Last Year
- 10%
Gandhar Oil Refinery (India) Ltd quarterly results
In the quarter ended Jun 2026, sales were ₹1,732 cr, up 91.8% from ₹903 cr a year earlier. Net profit was ₹206 cr, up 692.3% year on year.
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 935 | 1,005 | 962 | 903 | 1,060 | 1,167 | 1,093 | 1,732 |
| Expenses | 895 | 964 | 928 | 857 | 994 | 1,108 | 1,030 | 1,451 |
| Operating profit | 40 | 42 | 34 | 46 | 66 | 59 | 64 | 281 |
| OPM % | 4.3% | 4.1% | 3.5% | 5% | 6% | 5% | 6% | 16% |
| Other income | 2 | 2 | 4 | 3 | 3 | 4 | 4 | 3 |
| Interest | 11 | 10 | 14 | 10 | 10 | 10 | 8 | 13 |
| Depreciation | 6 | 6 | 7 | 7 | 7 | 7 | 8 | 8 |
| Profit before tax | 25 | 27 | 17 | 32 | 51 | 45 | 52 | 264 |
| Tax % | 26% | 24% | 27% | 18% | 22% | 24% | 29% | 22% |
| Net profit | 18 | 20 | 12 | 26 | 40 | 34 | 37 | 206 |
| EPS (₹) | 1.86 | 1.98 | 1.19 | 2.68 | 3.68 | 3.31 | 4.16 | 19.65 |
Consolidated figures as reported by the company. Percentages are as published; totals may not sum exactly.
Gandhar Oil Refinery (India) Ltd annual results
| ₹ crore | Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,756 | 2,169 | 3,568 | 2,504 | 2,221 | 3,543 | 4,079 | 4,113 | 3,897 | 4,241 | 5,052 |
| Operating profit | 76 | 127 | 72 | 60 | 140 | 247 | 317 | 280 | 176 | 237 | 470 |
| OPM % | 4.3% | 6% | 2.0% | 2.4% | 6% | 7% | 8% | 7% | 4.5% | 6% | 9% |
| Net profit | 26 | 74 | 19 | 10 | 100 | 164 | 214 | 165 | 84 | 137 | 317 |
| EPS (₹) | 162.19 | 46.43 | 11.71 | 6.16 | 62.70 | 18.42 | 23.86 | 14.36 | 8.18 | 13.83 | 30.80 |
TTM is the trailing twelve months to the most recent quarter.
Gandhar Oil Refinery (India) Ltd balance sheet
| ₹ crore | Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 20 | 20 | 20 |
| Reserves | 212 | 285 | 368 | 330 | 429 | 525 | 727 | 1,153 | 1,217 | 1,333 |
| Borrowings | 272 | 326 | 116 | 146 | 90 | 191 | 220 | 271 | 305 | 315 |
| Other liabilities | 374 | 481 | 771 | 516 | 566 | 586 | 668 | 497 | 418 | 558 |
| Total liabilities | 875 | 1,108 | 1,271 | 1,008 | 1,101 | 1,318 | 1,632 | 1,940 | 1,959 | 2,225 |
| Fixed assets | 74 | 78 | 99 | 97 | 88 | 190 | 238 | 361 | 450 | 498 |
| CWIP | 2 | 4 | 5 | 12 | 22 | 44 | 73 | 9 | 8 | 29 |
| Investments | 0 | 0 | 1 | 0 | 7 | 0 | 0 | 0 | 0 | 3 |
| Other assets | 798 | 1,025 | 1,166 | 899 | 984 | 1,084 | 1,321 | 1,570 | 1,501 | 1,695 |
| Total assets | 875 | 1,108 | 1,271 | 1,008 | 1,101 | 1,318 | 1,632 | 1,940 | 1,959 | 2,225 |
As reported by the company. Total assets equal total liabilities by construction.
Gandhar Oil Refinery (India) Ltd cash flow
| ₹ crore | Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 214 | -26 | 165 | 70 | 118 | 167 | 88 | -69 | 15 | 128 |
| Cash from investing | -10 | -8 | 1 | -24 | -22 | -116 | -72 | -66 | -48 | -62 |
| Cash from financing | -221 | 24 | -176 | -45 | -91 | -4 | -29 | 160 | 13 | -88 |
| Net cash flow | -16 | -10 | -11 | 2 | 5 | 47 | -13 | 25 | -21 | -22 |
| Free cash flow | 195 | -41 | 154 | 54 | 108 | 51 | 32 | -125 | 15 | 128 |
| CFO / operating profit | 299% | -11% | 265% | 118% | 85% | 90% | 47% | -8% | 26% | 69% |
Negative figures are outflows. CFO / operating profit is a ratio, not an amount.
Gandhar Oil Refinery (India) Ltd operating ratios
| Per year | Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | — | 23% | — | 13% | 31% | 39% | 37% | 22% | 11% | 13% |
| Debtor days | 90 | 95 | 63 | 64 | 84 | 46 | 50 | 55 | 63 | 62 |
| Inventory days | 54 | 51 | 30 | 32 | 38 | 40 | 47 | 46 | 50 | 64 |
| Days payable | 84 | 81 | 84 | 82 | 101 | 63 | 59 | 38 | 34 | 43 |
| Cash conversion cycle | 60 | 65 | 9 | 14 | 22 | 22 | 38 | 63 | 79 | 83 |
| Working capital days | 70 | 75 | 17 | 23 | 37 | 19 | 33 | 58 | 77 | 78 |
Ratios as computed by the source from the reported statements. Rows a company does not report are omitted.
Gandhar Oil Refinery (India) Ltd shareholding pattern
Promoters held 66.60% at Jun 2026, up from 65.01% at Jun 2025. FIIs 1.27% and DIIs 1.02%.
| % held | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 64.63% | 64.63% | 65.01% | 65.01% | 65.01% | 66.18% | 66.47% | 66.60% |
| FIIs | 0.02% | 0.62% | 0.18% | 0.24% | 0.17% | 0.34% | 0.14% | 1.27% |
| DIIs | 1.84% | 1.70% | 1.79% | 1.97% | 2.05% | 0.43% | 0.09% | 1.02% |
| Public | 33.52% | 33.05% | 33.03% | 32.80% | 32.77% | 33.05% | 33.30% | 31.10% |
| No. of shareholders | 1,67,001 | 1,53,263 | 1,50,403 | 1,45,648 | 1,41,406 | 1,38,347 | 1,39,482 | 1,34,265 |
As disclosed by the company to the exchanges. The last row is a count of shareholders, not a percentage.
Gandhar Oil Refinery (India) Ltd corporate filings
- Gandhar Oil approves allotment of 9,290 equity shares at Rs.168 to employees under ESOP/ESPS planCompany Updatelow impact
Cruxal's analysis: The Board of Gandhar Oil (544029) has approved the allotment of 9,290 equity shares with…
Read the full analysis - Gandhar Oil Refinery (India) Limited's credit rating upgrade to CRISIL A+/Stable for Rs.1014 crore bank facilities signals strengthened credit profile and improved financial stabilityCompany Updatehigh impact
Cruxal's analysis: Gandhar Oil Refinery (India) Limited has received an enhanced credit rating of CRISIL…
Read the full analysis - Gandhar Oil Refinery (India) Ltd Acquitted in Long-Standing Litigation CaseCompany Updatelow impact
Cruxal's analysis: Gandhar Oil Refinery (India) Ltd has been acquitted by the Court of the Addl. Chief…
Read the full analysis - The Trading Window for dealing in the securities of the Company will remain closed for all Designated Persons/ Connected and their immediate relatives from Thursday, October 01, 2026 till ....Insider Trading / SASTlow impact
- Gandhar Oil Refinery to participate in Arihant Capital Bharat Connect Conference on September 28, 2026Company Updatelow impact
Cruxal's analysis: Gandhar Oil Refinery (India) Ltd has announced that management representatives will…
Read the full analysis - Gandhar Oil Refinery (India) Limited Announces Successful Conclusion of 34th Annual General MeetingAGM/EGMlow impact
Cruxal's analysis: Gandhar Oil Refinery (India) Limited has successfully concluded its 34th Annual General…
Read the full analysis - Gandhar Oil Refinery (India) Limited Concludes 34th Annual General Meeting; Approves Key Resolutions and Board AppointmentsAGM/EGMlow impact
Cruxal's analysis: Gandhar Oil Refinery (India) Limited has successfully concluded its 34th Annual General…
Read the full analysis - Gandhar Oil Refinery (India) Ltd: Promoter Ramesh Babulal Parekh increases stake by 0.03% via open market purchaseInsider Trading / SASTlow impact
Cruxal's analysis: Gandhar Oil Refinery (India) Ltd has disclosed that its Promoter and Managing Director…
Read the full analysis - Gandhar Oil Refinery (India) Ltd: Promoter Ramesh Babulal Parekh Increases Stake via Open Market PurchaseInsider Trading / SASTlow impact
Cruxal's analysis: Gandhar Oil Refinery (India) Ltd has disclosed that its Promoter and Managing Director…
Read the full analysis - Gandhar Oil Refinery schedules in-person investor and analyst meeting for September 7, 2026Company Updatelow impact
Cruxal's analysis: Gandhar Oil Refinery (India) Ltd has announced an in-person meeting with investors and…
Read the full analysis - Gandhar Oil Refinery (India) Limited Receives CRISIL A+/Stable and A1 Credit Ratings for INR 300 Crore Bank FacilitiesCompany Updatelow impact
Cruxal's analysis: Gandhar Oil Refinery (India) Limited has been assigned a long-term rating of CRISIL…
Read the full analysis - Gandhar Oil Refinery (India) Ltd schedules 34th Annual General Meeting for September 11, 2026Company Updatelow impact
Cruxal's analysis: Gandhar Oil Refinery has published newspaper advertisements in Business Standard and…
Read the full analysis - Gandhar Oil Refinery (India) Ltd files Business Responsibility and Sustainability Report (BRSR) for FY 2025-26Otherslow impact
Cruxal's analysis: Gandhar Oil Refinery has submitted its Business Responsibility and Sustainability Report…
Read the full analysis - Gandhar Oil Refinery reports strong FY26 performance with 9% revenue growth and significant margin expansionOthershigh impact
Cruxal's analysis: Gandhar Oil Refinery (India) Limited has released its FY26 Annual Report, highlighting a…
Read the full analysis - Gandhar Oil Refinery (India) Limited Announces 34th AGM and Strategic Expansion into Financial Trading ActivitiesAGM/EGMmedium impact
Cruxal's analysis: Gandhar Oil Refinery (India) Limited has scheduled its 34th Annual General Meeting for…
Read the full analysis - Gandhar Oil Refinery (India) Limited Announces Results of Postal Ballot for Key Management AppointmentsAGM/EGMlow impact
Cruxal's analysis: Gandhar Oil Refinery (India) Limited has successfully concluded its postal ballot…
Read the full analysis - Gandhar Oil Refinery (India) Ltd schedules 34th Annual General Meeting for September 11, 2026Company Updatelow impact
Cruxal's analysis: Gandhar Oil Refinery (India) Ltd has issued a newspaper notice confirming that its 34th…
Read the full analysis - Gandhar Oil Refinery (India) Ltd schedules 34th Annual General Meeting for September 11, 2026Company Updatelow impact
Cruxal's analysis: Gandhar Oil Refinery has announced that its 34th Annual General Meeting will be held on…
Read the full analysis - Gandhar Oil Refinery (India) Ltd schedules 34th Annual General Meeting for September 11, 2026Company Updatelow impact
Cruxal's analysis: Gandhar Oil Refinery has announced that its 34th Annual General Meeting will be conducted…
Read the full analysis - Gandhar Oil Refinery executes land purchase agreement in PanvelCompany Updatelow impact
Cruxal's analysis: Gandhar Oil Refinery (India) Ltd has formally entered into a purchase agreement for land…
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