Gandhar Oil Refinery (India) Ltd
Incorporated in 1992, Gandhar Oil Limited is a prominent manufacturer of white oils that caters to the consumer and healthcare end industries.[1]
- Market Cap ₹ 1,630 Cr.
- Current Price ₹ 167
- High / Low ₹ 274 / 166
- Stock P/E 23.0
- Book Value ₹ 117
- Dividend Yield 0.30 %
- ROCE 21.2 %
- ROE 13.1 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 28.3% CAGR over last 5 years
Cons
- The company has delivered a poor sales growth of -1.26% over past five years.
- Company's cost of borrowing seems high
- Working capital days have increased from 56.6 days to 81.2 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|
2,363 | 3,027 | 2,366 | 1,984 | 2,925 | 2,921 | 2,842 | 3,126 | |
2,242 | 2,966 | 2,304 | 1,873 | 2,696 | 2,668 | 2,641 | 2,990 | |
Operating Profit | 121 | 61 | 62 | 111 | 229 | 253 | 201 | 136 |
OPM % | 5% | 2% | 3% | 6% | 8% | 9% | 7% | 4% |
6 | 20 | 16 | 7 | 66 | 25 | 17 | 20 | |
Interest | 44 | 44 | 47 | 35 | 24 | 39 | 39 | 32 |
Depreciation | 9 | 7 | 11 | 12 | 12 | 13 | 15 | 20 |
Profit before tax | 74 | 29 | 21 | 71 | 258 | 227 | 164 | 104 |
Tax % | 33% | 25% | 13% | 28% | 24% | 25% | 27% | |
50 | 22 | 18 | 51 | 197 | 170 | 119 | 71 | |
EPS in Rs | 31.14 | 13.79 | 11.14 | 32.08 | 24.58 | 21.19 | 12.13 | 7.24 |
Dividend Payout % | 6% | 0% | 40% | 3% | 0% | 2% | 4% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | -1% |
3 Years: | 13% |
TTM: | 13% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 28% |
3 Years: | 32% |
TTM: | -45% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | -29% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 21% |
3 Years: | 24% |
Last Year: | 13% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|
Equity Capital | 16 | 16 | 16 | 16 | 16 | 16 | 20 | 20 |
Reserves | 304 | 306 | 316 | 367 | 518 | 688 | 1,093 | 1,127 |
283 | 86 | 118 | 79 | 43 | 35 | 64 | 35 | |
616 | 713 | 503 | 546 | 515 | 432 | 376 | 549 | |
Total Liabilities | 1,219 | 1,121 | 953 | 1,008 | 1,092 | 1,171 | 1,552 | 1,730 |
100 | 98 | 114 | 105 | 101 | 126 | 244 | 237 | |
CWIP | 0 | 5 | 12 | 22 | 43 | 73 | 8 | 33 |
Investments | 8 | 7 | 2 | 2 | 2 | 2 | 2 | 3 |
1,111 | 1,011 | 824 | 879 | 945 | 970 | 1,298 | 1,457 | |
Total Assets | 1,219 | 1,121 | 953 | 1,008 | 1,092 | 1,171 | 1,552 | 1,730 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
190 | 153 | 22 | 102 | 117 | 52 | -83 | |
-6 | 20 | 3 | -6 | 27 | -40 | -29 | |
-187 | -175 | -25 | -91 | -115 | -48 | 163 | |
Net Cash Flow | -3 | -1 | 0 | 5 | 30 | -36 | 50 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
Debtor Days | 82 | 62 | 64 | 87 | 52 | 58 | 68 |
Inventory Days | 51 | 34 | 32 | 43 | 37 | 41 | 43 |
Days Payable | 100 | 91 | 82 | 110 | 68 | 56 | 49 |
Cash Conversion Cycle | 33 | 5 | 15 | 20 | 22 | 43 | 62 |
Working Capital Days | 47 | 23 | 35 | 41 | 34 | 54 | 81 |
ROCE % | 18% | 16% | 23% | 53% | 40% | 21% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
10h - Monitoring Agency report for IPO proceeds utilization.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
6 Feb - Listing Regulations, we are enclosing herewith the copy of the Newspaper "Business standard" (English- National Daily Mumbai Edition)" and "the Parshuram samachar (Marathi Edition) " …
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Integrated Filing (Financial)
4 Feb - Integrated financial filing for Q3 and 9M FY25.
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Announcement under Regulation 30 (LODR)-Investor Presentation
4 Feb - Investor Presentation for the quarter and nine months ended 31st December, 2024.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
4 Feb - Gandhar Oil Refinery reports Q3FY25 financial results.
Concalls
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Feb 2025TranscriptNotesPPT
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Nov 2024Transcript PPT REC
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Aug 2024TranscriptNotesPPT
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Jun 2024Transcript PPT
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Feb 2024Transcript PPT
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Jan 2024Transcript PPT
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Dec 2023TranscriptNotesPPT
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Dec 2023TranscriptNotesPPT
Market Leader in White Oils
The company is one of India’s largest manufacturers of white oils and one of the top 5 players globally. [1] It has a 26.5% market share in India in white oil as in FY23 and 9.6% market share globally in white oil in CY22. [2]