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Gandhar Oil Refinery (India)

GANDHAR NSE
₹269.81 +6.02 (+2.28%)
P/E
8.76
View as Markdown
MCP
Close 4 Nov 2026 ₹269.81 +137.26 +104% 1Y
Start ₹132.55

Key Fundamentals

MicrocapPetroleum ProductsEnergy

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
13.30%
Debt to Equity
0.23
EPS (TTM)
₹30.80
Book Value
₹173.59
Market Cap
—
P/E (TTM)
8.76
P/B
1.55
ROE
10.50%
Dividend Yield
0.76%
EBITDA
₹248 Cr
52W High
₹318.90
52W Low
₹115.00
Day Range
₹263.85 – ₹275.50
Volume
8,85,404

Peer Comparison

Energy › Petroleum Products › Lubricants

Gandhar Oil Refinery peer comparison
Castrol
₹194.9719.08₹19,194 Cr10.103.22%45.90%60.30%₹6,591 Cr₹1,011 Cr
Gulf Oil Lubricants
₹1,086.3014.06₹5,342 Cr3.284.70%24.10%27.20%₹4,315 Cr₹382 Cr
Savita Oil Technologies
₹675.6510.85₹4,737 Cr2.550.72%8.88%14.00%₹4,853 Cr₹427 Cr
Panama Petrochem
₹458.355.79₹2,807 Cr1.890.64%15.60%19.20%₹4,106 Cr₹479 Cr
Gandhar Oil Refinery (this company)
₹269.818.76₹2,657 Cr1.550.76%10.50%13.30%₹5,052 Cr₹317 Cr
Veedol Corporation
₹1,412.8011.20₹2,463 Cr2.384.11%19.50%24.10%₹2,263 Cr₹220 Cr
GP Petroleums
₹65.008.03₹326 Cr0.850.77%8.38%10.80%₹714 Cr₹40 Cr
Median 7 companies₹458.3510.85₹2,807 Cr2.380.77%15.60%19.20%₹4,315 Cr₹382 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

68 Strong

Data confidence 100/100

Category scores

Quality
54
Average
Returns, margins, earnings quality 22% weight
Valuation
70
Strong
Cheap vs sector & own history 24% weight
Growth
83
Strong
Sales & profit trajectory 9% weight
Financial Health
59
Good
Solvency, leverage, coverage 9% weight
Momentum
93
Strong
Trend strength, vol-adjusted 12% weight
Ownership
73
Strong
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company is expected to give good quarter

Weaknesses

2
  • Company has a low return on equity of 10.3% over last 3 years.
  • Dividend payout has been low at 5.01% of profits over last 3 years

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish874
OscillatorsBearish270
Moving AveragesStrong Bearish604

Key readings

RSI (14)
46.76
Neutral
MACD (12,26,9)
−3.82
Bearish
SMA (50)
274.70
Bearish
SMA (200)
194.47
Bullish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+9.22%
5Y+13.81%
3Y+1.31%
1Y+8.83%
TTM+32.77%

Net profit

Net profit growth by window
10Y+18.08%
5Y+6.50%
3Y−13.81%
1Y+63.10%
TTM+317.11%

Operating cash flow

Operating cash flow growth by window
10Y−5.01%
5Y+1.64%
3Y+13.30%
1Y+753.33%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+1.26 pp
5Y−0.71 pp
3Y−2.18 pp
1Y+1.07 pp
TTM+5.04 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2016₹1,756 Cr
Mar 2017₹2,169 Cr
Mar 2019₹3,568 Cr
Mar 2020₹2,504 Cr
Mar 2021₹2,221 Cr
Mar 2022₹3,543 Cr
Mar 2023₹4,079 Cr
Mar 2024₹4,113 Cr
Mar 2025₹3,897 Cr
Mar 2026₹4,241 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2016₹26.00 Cr
Mar 2017₹74.00 Cr
Mar 2019₹19.00 Cr
Mar 2020₹10.00 Cr
Mar 2021₹100 Cr
Mar 2022₹164 Cr
Mar 2023₹214 Cr
Mar 2024₹165 Cr
Mar 2025₹84.00 Cr
Mar 2026₹137 Cr

Quarterly Results

₹ Cr
GANDHAR quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
1,070
1,001
1,103
939
995
935
1,005
962
903
1,060
1,167
1,093
1,732
1,847
Expenses
986
925
1,018
906
934
895
964
928
857
994
1,108
1,030
1,451
—
Operating Profit
84
76
85
34
60
40
42
34
46
66
59
64
281
—
OPM %
8%
8%
8%
3.6%
6%
4.3%
4.1%
3.5%
5%
6%
5%
6%
16%
—
Other Income
1
2
2
5
5
2
2
4
3
3
4
4
3
—
Interest
13
15
16
14
13
11
10
14
10
10
10
8
13
13
Depreciation
5
5
5
6
6
6
6
7
7
7
7
8
8
8
PBT
67
58
66
19
46
25
27
17
32
51
45
52
264
248
Tax %
19%
18%
23%
37%
29%
26%
24%
27%
18%
22%
24%
29%
22%
25%
Net Profit
54
48
51
12
33
18
20
12
26
40
34
37
206
186
EPS (₹)
5.59
4.91
4.83
0.93
3.15
1.86
1.98
1.19
2.68
3.68
3.31
4.16
19.65
—

Sep 2026: from the results filed on 27 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
GANDHAR profit and loss, annual, ₹ crore
Particulars Mar 2016Mar 2017Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,756
2,169
3,568
2,504
2,221
3,543
4,079
4,113
3,897
4,241
5,052
Expenses
1,680
2,042
3,496
2,444
2,081
3,296
3,762
3,833
3,720
4,004
4,582
Operating Profit
76
127
72
60
140
247
317
280
176
237
470
OPM %
4.3%
6%
2%
2.4%
6%
7%
8%
7%
4.5%
6%
9%
Other Income
10
13
11
13
29
26
24
10
13
13
14
Interest
47
31
48
50
37
33
52
59
48.39
40
41
Depreciation
8
9
8
11
11
15
17
20
26
30
30
PBT
31
100
27
13
120
225
272
210
114
181
413
Tax %
16%
26%
30%
24%
17%
27%
21%
21%
27%
24%
—
Net Profit
26
74
19
10
100
164
214
165
84
137
317
EPS (₹)
162
46.43
11.71
6.16
62.7
18.42
23.86
14.36
8.18
13.83
30.8
Div. Payout %
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
0%
85%
73%
0%
0%
2%
3%
6%
5%
—

Balance Sheet

₹ Cr
GANDHAR balance sheet, annual, ₹ crore
Particulars Mar 2016Mar 2017Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Borrowings
272
326
116
146
90
191
220
271
305
315
Other Liabilities
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
Fixed Assets
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
Other Assets
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 Flow

₹ Cr
GANDHAR cash flow, annual, ₹ crore
Particulars Mar 2016Mar 2017Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
214
−26
165
70
118
167
88
−69
15
128
Investing
−10
−8
1
−24
−22
−116
−72
−66
−48
−62
Financing
−221
24
−176
−45
−91
−4
−29
160
13
−88
Net Cash Flow
−16
−10
−11
2
5
47
−13
25
−21
−22
Free Cash Flow
195
−41
154
54
108
51
32
−125
15
128
CFO/OP
299
−11
265
118
85
90
47
−8
26
69

Ratios

GANDHAR financial ratios, annual
Particulars Mar 2016Mar 2017Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
90
95
63
64
84
46
50
55
63
62
Inventory Days
54
51
30
32
38
40
47
46
50
64
Days Payable
84
81
84
82
101
63
59
38
34
43
Cash Conversion Cycle
60
65
9
14
22
22
38
63
79
83
Working Capital Days
70
75
17
23
37
19
33
58
77
78
ROCE %
—
23%
—
13%
31%
39%
37%
22%
11%
13%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Gandhar Oil Refinery insights

68 extracted metrics across FY16–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 66.65%
  • Public 23.40%
  • FIIs 5.47%
  • Others 3.41%
  • DIIs 1.07%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Gandhar Oil Refinery (India)

What does Gandhar Oil Refinery (India) Ltd do?
Incorporated in 1992, Gandhar Oil Limited is a prominent manufacturer of white oils that caters to the consumer and healthcare end industries.
Where is Gandhar Oil Refinery (India) Ltd (GANDHAR) listed?
Gandhar Oil Refinery (India) Ltd trades as GANDHAR on the NSE and under code 544029 on the BSE.
Which sector does Gandhar Oil Refinery (India) Ltd belong to?
Gandhar Oil Refinery (India) Ltd is classified under the Petroleum Products sector, in the Lubricants industry.
What is the PE ratio of Gandhar Oil Refinery (India) Ltd?
Gandhar Oil Refinery (India) Ltd trades at a PE ratio of 8.76 as of 4 Nov 2026, on earnings per share of ₹30.8, against a book value of ₹173.59 per share.
What is the 52-week high and low of Gandhar Oil Refinery (India) Ltd?
Over the last 52 weeks Gandhar Oil Refinery (India) Ltd has traded between ₹115 and ₹318.9 as of 4 Nov 2026.
Does Gandhar Oil Refinery (India) Ltd pay dividends?
Gandhar Oil Refinery (India) Ltd has a dividend yield of 0.76%.
What is the Return on Equity (ROE) of Gandhar Oil Refinery (India) Ltd?
Gandhar Oil Refinery (India) Ltd reported a return on equity of 10.50%. Its debt-to-equity ratio is 0.23.

Company Information

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

Website gandharoil.com
CEO Mr. Ramesh Babulal Parekh
Employees 410
Listed 30 Nov 2023
Face Value ₹2

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