Gandhar Oil Refinery (India) Ltd

Gandhar Oil Ref. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Gandhar Oil Refinery (India) Ltd

₹ 156 -4.23%
29 May - close price
gandharoil.com BSE: 544029 NSE: GANDHAR
About

Incorporated in 1992, Gandhar Oil Limited is a prominent manufacturer of white oils that caters to the consumer and healthcare end industries.[1]

Key Points

Market Leader in White Oils[1]
The company is one of India’s largest manufacturers of white oils and one of the top 5 players globally. It has 26.5% market share in India in white oil and 9.6% market share globally in white oil.

Website BSE NSE
  • Market Cap ₹ 1,527 Cr.
  • Current Price ₹ 156
  • High / Low ₹ 184 / 115
  • Stock P/E 11.3
  • Book Value ₹ 138
  • Dividend Yield 0.48 %
  • ROCE 13.2 %
  • ROE 10.5 %
  • Face Value ₹ 2.00
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Pros

  • Stock is trading at 1.13 times its book value

Cons

  • Company has a low return on equity of 10.3% over last 3 years.
  • Dividend payout has been low at 3.20% of profits over last 3 years

* 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.

Peer comparison

Energy Oil, Gas & Consumable Fuels Petroleum Products Lubricants

Part of BSE Energy

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
987 1,070 1,001 1,103 939 995 935 1,005 962 903 1,060 1,167 1,093
940 986 925 1,018 906 934 895 964 928 857 994 1,108 1,030
Operating Profit 47 84 76 85 34 60 40 42 34 46 66 59 64
OPM % 5% 8% 8% 8% 4% 6% 4% 4% 3% 5% 6% 5% 6%
6 1 2 2 5 5 2 2 4 3 3 4 4
Interest 14 13 15 16 14 13 11 10 14 10 10 10 8
Depreciation 5 5 5 5 6 6 6 6 7 7 7 7 8
Profit before tax 34 67 58 66 19 46 25 27 17 32 51 45 52
Tax % 18% 19% 18% 23% 37% 29% 26% 24% 27% 18% 22% 24% 29%
28 54 48 51 12 33 18 20 12 26 40 34 37
EPS in Rs 2.77 5.59 4.91 4.83 0.93 3.15 1.86 1.98 1.19 2.68 3.68 3.31 4.16
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,756 2,169 3,568 2,504 2,221 3,543 4,079 4,113 3,897 4,241
1,680 2,042 3,496 2,444 2,081 3,296 3,762 3,833 3,721 4,007
Operating Profit 76 127 72 60 140 247 317 280 176 234
OPM % 4% 6% 2% 2% 6% 7% 8% 7% 5% 6%
10 13 11 13 29 26 24 10 13 14
Interest 47 31 48 50 37 33 52 59 49 38
Depreciation 8 9 8 11 11 15 17 20 26 30
Profit before tax 31 100 27 13 120 225 272 210 114 181
Tax % 16% 26% 30% 24% 17% 27% 21% 21% 27% 24%
26 74 19 10 100 164 214 165 83 137
EPS in Rs 162.19 46.43 11.71 6.16 62.70 18.42 23.86 14.36 8.18 13.83
Dividend Payout % 1,778% 0% 85% 73% 0% 0% 2% 3% 6% 0%
Compounded Sales Growth
10 Years: 9%
5 Years: 14%
3 Years: 1%
TTM: 9%
Compounded Profit Growth
10 Years: 18%
5 Years: 6%
3 Years: -11%
TTM: 69%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -13%
Return on Equity
10 Years: %
5 Years: 15%
3 Years: 10%
Last Year: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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
272 326 116 146 90 191 220 271 305 315
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
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
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

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
214 -26 165 70 118 167 88 -69 15
-10 -8 1 -24 -22 -116 -72 -66 -48
-221 24 -176 -45 -91 -4 -29 160 13
Net Cash Flow -16 -10 -11 2 5 47 -13 25 -21
Free Cash Flow 195 -41 154 54 108 51 32 -125 -43
CFO/OP 299% -11% 265% 118% 85% 90% 47% -8% 26%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 90 95 63 64 84 46 50 55 63 62
Inventory Days 54 51 30 32 38 40 47 46 50 63
Days Payable 84 81 84 82 101 63 59 38 34 43
Cash Conversion Cycle 60 65 9 14 22 22 38 63 79 82
Working Capital Days 70 75 17 23 37 19 33 58 77 78
ROCE % 23% 13% 31% 39% 37% 22% 11% 13%

Insights

In beta
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Combined Capacity Utilization
%

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Total Installed Capacity
kL/annum
Total Sales Manufacturing Volumes
kL
Customer Repeat Order Rate
%
Manufacturing Gross Margin Spread
INR/kL
Number of Products Suite
count
Market Share in India (White Oil)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

3 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
64.63% 64.63% 64.63% 64.63% 64.63% 64.63% 65.01% 65.01% 65.01% 66.18% 66.47%
3.87% 2.53% 0.53% 0.18% 0.02% 0.62% 0.18% 0.24% 0.17% 0.34% 0.14%
10.72% 6.61% 3.47% 2.65% 1.84% 1.70% 1.79% 1.97% 2.05% 0.43% 0.09%
20.79% 26.24% 31.37% 32.56% 33.52% 33.05% 33.03% 32.80% 32.77% 33.05% 33.30%
No. of Shareholders 1,22,4631,82,5321,80,7271,72,3051,67,0011,53,2631,50,4031,45,6481,41,4061,38,3471,39,482

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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