Gandhar Oil Ref.

NSE: GANDHAR · Lubricants

52W Range₹115 ₹303

Snapshot

Unlock Gandhar Oil Ref.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Gandhar Oil Refinery (India) Limited is a manufacturer of specialty oils, including white oils, lubricants, and process oils, catering to the consumer, healthcare, and industrial sectors. The company also engages in logistics support services and the trading of non-coking coal, polymers, and other industrial commodities.

Business Model

The company generates revenue through the manufacturing and sale of specialty oil products across diverse industries, alongside providing logistics and agency services. It operates a diversified model that includes both high-value specialty chemical production and commodity trading.

Growth Outlook

Growth is driven by increasing demand for specialty white oils in the healthcare and consumer sectors, alongside expansion in industrial lubricant applications. The company continues to leverage its established logistics and trading infrastructure to capture market share across domestic and international regions.

Key Risks

  • Raw Material Price Volatility. Fluctuations in crude oil prices directly impact the cost of raw materials, potentially compressing profit margins.
  • Regulatory and Environmental Compliance. The company faces stringent environmental regulations regarding chemical manufacturing and the handling of hazardous materials.
  • Geopolitical and Trade Risks. As an exporter to multiple continents, the company is exposed to currency fluctuations and international trade policy changes.
  • Commodity Trading Risks. The trading of non-coking coal and polymers exposes the company to price volatility and demand cyclicality in global commodity markets.

Price

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Key Metrics

REVENUE

₹4,223 Cr

TTM · consolidated

+8.4%YoY

NET PROFIT

₹137 Cr

TTM · consolidated

+64.4%YoY

EPS

₹13.83

TTM · consolidated

+63.1%YoY

RETURN ON EQUITY

10.8%

TTM · consolidated

+3.8 ppYoY

RETURN ON CAPITAL EMPLOYED

14.7%

TTM · consolidated

+2.7 ppYoY

P/E

15.3x

Q4 FY26 · consolidated

15.3 vs 21.4x5Y avg

EV/EBITDA

8.9x

Q4 FY26 · consolidated

8.9 vs 11.0x5Y avg

EBITDA MARGIN

5.9%

TTM · consolidated

+1.1 ppYoY

NET PROFIT MARGIN

3.4%

Q4 FY26 · consolidated

+2.1 ppYoY

DEBT TO EQUITY

0.1%

Q4 FY26 · consolidated

-0.0 ppYoY

Peers · Lubricants

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Gandhar Oil Ref.GANDHAR
1,26215.258.908.4%5.9%10.8%14.7%+23.1%
Castrol India Ltd.CASTROLIND
17,27019.0512.497.0%24.4%43.9%62.4%-17.4%
Gulf Oil Lubricants India LimitedGULFOILLUB
4,59211.455.8839.7%15.0%29.7%40.4%-18.1%
Veedol CorporatVEEDOL
2,28412.859.3810.1%11.3%20.3%20.7%-14.6%
Savita Oil TechSOTL
2,27921.8813.2414.4%6.7%10.7%15.3%+36.1%
Panama PetrochemPANAMAPET
1,56112.138.969.7%9.4%16.2%20.3%+19.5%

As of Q4 FY26

Financials