| Revenue growth | Q2 +73% YoY; H1 +82% YoY |
|---|---|
| Margins | Q2 EBITDA margin 15.6%, +940bps YoY; PAT margin 10.1% |
| Demand visibility | PIO H1 volumes +23% YoY on transformer, power, rubber demand |
| Management confidence | Upbeat on resilience; cautious on external uncertainties |
Growth
Q2 revenue +73% YoY and +7% QoQ. Q2 PAT +368% YoY. Gross margin spread ₹29,128/kl, about 3x YoY.
Outlook
No quantified guidance. Taloja near 100% utilisation; land available at all plants; South Africa entry planned; growth funded internally, debt-free.
Risks
West Asia geopolitics disrupted base oil availability, pricing and shipping. July flooding at Silvassa Unit 2 halted operations until early August.
Last quarter's promises, checked
Delivered
- Spread ~₹28,145/kl held 1–2 qtrs → ₹29,128/kl (= BEAT)
- Term loans to keep falling → borrowings ₹168.5Cr (Mar-26) → ₹84.6Cr (Sep-26) (= BEAT)
- PHPO ~50%+ of sales → 51.2% Q2 mix (= BEAT)
Partly delivered
- EBITDA margin ~16.2% 'at this level or around' → 15.6% (= PARTIAL)
- PIO Q1 +28% YoY 'strong robust growth' → H1 +23% YoY (= PARTIAL)
Missed
- Capex plan 'next quarter' → none disclosed; CWIP ₹40.2Cr only (= MISS)
Investor Presentation filed with NSE, NSE: GANDHAR. Summary written with AI assistance from the document.
Gandhar Oil Refinery (India) Ltd: key numbers
- Share price
- ₹260.65
- Market cap
- ₹2,551 Cr
- Revenue (annual)
- ₹4,241 Cr
- Net profit (annual)
- ₹135.4 Cr
- P/E (TTM)
- 5.8×Sector 17.8×
- Promoter holding
- 66.65%+0.05% QoQ
- FII holding
- 5.46%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Gandhar Oil Refinery (India) Ltd
All →Gandhar Oil Refinery (India) Earnings Call Transcript: Key Takeaways
Gandhar achieved record quarterly revenue but margins and volumes face pressure from geopolitical disruptions and logistics costs.
- Call
- Guides 11% growth
Gandhar Oil Refinery (India) Results Update
Gandhar Oil posted record Q2 FY27 revenue of Rs 1,847 Crore, up 73%. Profit after tax rose to Rs 186 Crore, with margins sustained.
Gandhar Oil Refinery (India) Management Change
Gandhar Oil Refinery appointed Santosh Kumar Singh as Factory Manager of its Silvassa Plant, effective 27 October 2026. He is an existing employee currently serving as Assistant General Manager - Commercial.
Gandhar Oil Refinery (India) Q2 FY27 Results: Net Profit ₹186.3 Cr, Up 368.1% YoY
Gandhar Oil Refinery (India) Ltd reported revenue from operations of ₹1,847 Cr (+72.9% YoY) and net profit of ₹186.3 Cr (+368.1% YoY) for Q2 FY27.
- Key figure
- Net profit ₹186.3 Cr · +368.1% YoY
Gandhar Oil Refinery (India) Other Announcement
This filing presents the quarterly shareholding pattern for Gandhar Oil Refinery (India) Ltd for the period ending September 30, 2026.
Gandhar Oil Refinery (India) Board Meeting Date
Gandhar Oil Refinery intimated that its Board meeting is scheduled for 27 Oct 2026 to consider Q1 and H1 FY27 unaudited results. The trading window remains closed pending the outcome announcement.