About
Gandhar Oil Refinery (India) Limited manufactures and sells white oils in India. It offers mineral and specialty oils, petroleum jellies, industrial solvents, and paraffin waxes for consumer, healthcare, chemicals, and plastics sectors; lubricants, including automotive oils and industrial oils for automobile, and industrial machines and equipment; and process and insulating oils comprising transformer oils and rubber processing oils for transformer manufacturers, power generation and distribution, and tyre and rubber product manufacturers. The company is also involved in trading non-coking coal; and the provision of logistics services, including cargo handling and transportation. Further, it operates consignment and del-credere agency; and sells polymer products. The company sells its products under Divyol brand. It exports its products to the Americas, Europe, Africa, and the Asia-Pacific. Gandhar Oil Refinery (India) Limited was incorporated in 1992 and is headquartered in Mumbai, India.
Key Metrics
as of Sep 2026Market Cap2,618 Cr
P/E8.69
Div Yield0.75 %
Book Value₹138.00
52w High₹303.00
52w Low₹115.00
Face Value₹2.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,591.00 | 929.00 | 923.00 | 807.00 | 745.00 | 752.00 | 857.00 | 761.00 | 790.00 | 717.00 | 737.00 | 690.00 | 698.00 |
| Expenses | 1,342.00 | 864.00 | 873.00 | 755.00 | 705.00 | 725.00 | 823.00 | 727.00 | 739.00 | 701.00 | 666.00 | 637.00 | 638.00 |
| Operating Profit | 249.00 | 66.00 | 49.00 | 52.00 | 41.00 | 26.00 | 34.00 | 35.00 | 51.00 | 17.00 | 71.00 | 53.00 | 60.00 |
| OPM % | 16.00 | 7.00 | 5.00 | 6.00 | 5.00 | 3.50 | 3.90 | 4.50 | 6.00 | 2.30 | 10.00 | 8.00 | 9.00 |
| Other Income | 3.00 | 5.00 | 9.00 | 4.00 | 3.00 | 4.00 | 3.00 | 3.00 | 5.00 | 9.00 | 2.00 | 2.00 | 4.00 |
| Depreciation | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 | 7.00 | 5.00 | 5.00 | 5.00 | 4.00 | 4.00 | 4.00 | 4.00 |
| Interest | 10.00 | 5.00 | 6.00 | 6.00 | 6.00 | 9.00 | 7.00 | 8.00 | 9.00 | 8.00 | 11.00 | 11.00 | 9.00 |
| Profit before tax | 236.00 | 60.00 | 46.00 | 44.00 | 32.00 | 15.00 | 24.00 | 25.00 | 42.00 | 13.00 | 58.00 | 41.00 | 51.00 |
| Tax % | 24.00 | 26.00 | 22.00 | 26.00 | 18.00 | 28.00 | 27.00 | 26.00 | 32.00 | 54.00 | 25.00 | 25.00 | 25.00 |
| Net Profit | 179.00 | 44.00 | 36.00 | 32.00 | 26.00 | 11.00 | 18.00 | 18.00 | 29.00 | 6.00 | 44.00 | 30.00 | 39.00 |
| EPS in Rs | 18.27 | 4.51 | 3.66 | 3.29 | 2.68 | 1.08 | 1.79 | 1.87 | 2.96 | 0.62 | 4.46 | 3.81 | 4.82 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,423.00 | 3,160.00 | 2,842.00 | 2,921.00 | 2,925.00 | 1,984.00 | 2,366.00 | 3,027.00 | 2,363.00 |
| Expenses | 3,214.00 | 3,014.00 | 2,641.00 | 2,668.00 | 2,696.00 | 1,873.00 | 2,304.00 | 2,966.00 | 2,242.00 |
| Operating Profit | 208.00 | 146.00 | 201.00 | 253.00 | 229.00 | 111.00 | 62.00 | 61.00 | 121.00 |
| OPM % | 6.00 | 4.60 | 7.00 | 9.00 | 8.00 | 6.00 | 2.60 | 2.00 | 5.00 |
| Other Income | 21.00 | 15.00 | 17.00 | 25.00 | 66.00 | 7.00 | 16.00 | 20.00 | 6.00 |
| Interest | 24.00 | 34.00 | 39.00 | 39.00 | 24.00 | 35.00 | 47.00 | 44.00 | 44.00 |
| Depreciation | 25.00 | 22.00 | 15.00 | 13.00 | 12.00 | 12.00 | 11.00 | 7.00 | 9.00 |
| Profit before tax | 181.00 | 105.00 | 164.00 | 227.00 | 258.00 | 71.00 | 21.00 | 29.00 | 74.00 |
| Tax % | 24.00 | 29.00 | 27.00 | 25.00 | 24.00 | 28.00 | 13.00 | 25.00 | 33.00 |
| Net Profit | 138.00 | 75.00 | 119.00 | 170.00 | 197.00 | 51.00 | 18.00 | 22.00 | 50.00 |
| EPS in Rs | 14.14 | 7.69 | 12.13 | 21.19 | 24.58 | 32.08 | 11.14 | 13.79 | 31.14 |
| Dividend Payout % | 5.00 | 6.00 | 4.00 | 2.00 | 0.00 | 3.00 | 40.00 | 0.00 | 6.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 20.00 | 20.00 | 20.00 | 16.00 | 16.00 | 16.00 | 16.00 | 16.00 | 16.00 |
| Reserves | 1,281.00 | 1,154.00 | 1,093.00 | 688.00 | 518.00 | 367.00 | 316.00 | 306.00 | 304.00 |
| Borrowings | 88.00 | 90.00 | 64.00 | 35.00 | 43.00 | 79.00 | 118.00 | 86.00 | 283.00 |
| Other Liabilities | 474.00 | 325.00 | 376.00 | 432.00 | 515.00 | 546.00 | 503.00 | 713.00 | 616.00 |
| Total Liabilities | 1,862.00 | 1,588.00 | 1,552.00 | 1,171.00 | 1,092.00 | 1,008.00 | 953.00 | 1,121.00 | 1,219.00 |
| Fixed Assets | 363.00 | 333.00 | 244.00 | 126.00 | 101.00 | 105.00 | 114.00 | 98.00 | 100.00 |
| CWIP | 29.00 | 8.00 | 8.00 | 73.00 | 43.00 | 22.00 | 12.00 | 5.00 | 0.00 |
| Investments | 6.00 | 3.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 7.00 | 8.00 |
| Other Assets | 1,464.00 | 1,244.00 | 1,298.00 | 970.00 | 945.00 | 879.00 | 824.00 | 1,011.00 | 1,111.00 |
| Total Assets | 1,862.00 | 1,588.00 | 1,552.00 | 1,171.00 | 1,092.00 | 1,008.00 | 953.00 | 1,121.00 | 1,219.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 80.00 | -6.00 | -83.00 | 52.00 | 117.00 | 102.00 | 22.00 | 153.00 | 190.00 |
| Cash from Investing Activity | -61.00 | -43.00 | -29.00 | -40.00 | 27.00 | -6.00 | 3.00 | 20.00 | -6.00 |
| Cash from Financing Activity | -54.00 | 36.00 | 163.00 | -48.00 | -115.00 | -91.00 | -25.00 | -175.00 | -187.00 |
| Net Cash Flow | -36.00 | -12.00 | 50.00 | -36.00 | 30.00 | 5.00 | 0.00 | -1.00 | -3.00 |
| Free Cash Flow | 3.00 | -60.00 | -129.00 | 3.00 | 87.00 | 91.00 | 6.00 | 144.00 | 179.00 |
| CFO/OP % | 55.00 | 17.00 | -18.00 | 45.00 | 77.00 | 95.00 | 34.00 | 290.00 | 190.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 67.00 | 63.00 | 68.00 | 58.00 | 52.00 | 87.00 | 64.00 | 62.00 | 82.00 |
| Inventory Days | 66.00 | 46.00 | 43.00 | 41.00 | 37.00 | 43.00 | 32.00 | 34.00 | 51.00 |
| Days Payable | 52.00 | 38.00 | 49.00 | 56.00 | 68.00 | 110.00 | 82.00 | 91.00 | 100.00 |
| Cash Conversion Cycle | 81.00 | 71.00 | 62.00 | 43.00 | 22.00 | 20.00 | 15.00 | 5.00 | 33.00 |
| Working Capital Days | 91.00 | 88.00 | 78.00 | 53.00 | 30.00 | 31.00 | 22.00 | 14.00 | 47.00 |
| ROCE % | 15.00 | 11.00 | 21.00 | 40.00 | 53.00 | 23.00 | 16.00 | 18.00 | — |
Corporate Actions
5 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 31 Jul 2026 | 31 Jul 2026 | — | 2.00 | |
| Dividend | 30 Jan 2026 | 30 Jan 2026 | — | 0.75 | |
| Dividend | 01 Aug 2025 | 01 Aug 2025 | — | 0.50 | |
| Other | 28 Aug 2024 | — | — | — | Annual General Meeting |
| Dividend | 23 Aug 2024 | 23 Aug 2024 | — | 0.50 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update31 Aug from crisil
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Rating update6 May from smera
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Rating update6 Feb 2025 from smera
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Rating update15 Nov 2024 from smera
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Rating update16 Aug 2024 from smera
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Rating update30 May 2024 from smera