Gandhar Oil Refinery
Petroleum Products
GANDHAR NSE
₹301.90 6.10 (1.98%)
Market Cap
₹2,955 Cr
P/E
9.80
Key Fundamentals
MicrocapLubricantsPetroleum ProductsMarket Cap
₹2,955 Cr
P/E (TTM)
9.8
EBITDA
₹248 Cr
Return on Equity
9.81%
Debt to Equity
0.23
Book Value
₹138.15
EPS (TTM)
₹30.80
52W High
₹310.85
52W Low
₹115.00
Price-based figures as of 13 Oct 2026, 15:31 IST · EPS basis: Consolidated · TTM
Peer Comparison
Energy › Petroleum Products › Lubricants
| ₹193.98 | 18.06 | 19,187 Cr | 10.05 | 3.21% | 49.99% | 65.01% | 6,283 Cr | 1,063 Cr | |
| ₹1,056.00 | 13.67 | 5,233 Cr | 3.41 | 4.73% | 21.78% | 30.91% | 4,469 Cr | 382 Cr | |
| ₹761.15 | 12.22 | 5,218 Cr | 2.88 | 0.65% | 10.02% | 14.34% | 4,897 Cr | 427 Cr | |
| ₹498.85 | 6.30 | 3,018 Cr | 2.05 | 0.60% | 14.47% | 18.12% | 4,119 Cr | 479 Cr | |
| Gandhar Oil Refinery (this company) | ₹301.90 | 9.80 | 2,955 Cr | 2.19 | 0.67% | 9.81% | 13.77% | 5,066 Cr | 317 Cr |
| ₹1,353.50 | 10.73 | 2,358 Cr | 2.28 | 4.29% | 18.50% | 22.19% | 2,310 Cr | 220 Cr | |
| ₹62.84 | 7.77 | 320 Cr | 0.90 | 0.81% | 7.46% | 10.24% | 721 Cr | 40 Cr | |
| ₹99.05 | — | 108 Cr | 1.56 | 0.00% | 16.18% | 26.34% | — | — | |
| ₹39.27 | — | 51 Cr | 0.51 | 0.00% | 0.74% | 1.53% | — | — | |
| ₹27.20 | 10.46 | 36 Cr | 0.80 | 0.00% | 11.67% | 19.11% | 44 Cr | 2 Cr | |
| Median 10 companies | ₹247.94 | 10.60 | 2,657 Cr | 2.12 | 0.66% | 13.07% | 18.62% | 4,294 Cr | 350 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live 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. How it works →
As of 2026-10-12
v2.0.0
v2.0.0
65 Good
Overall score
Data confidence 100/100
surveillance:ASM1
Category scores
Quality Average 53
Returns, margins, earnings quality 22%
Valuation Good 64
Cheap vs sector & own history 24%
Growth Strong 83
Sales & profit trajectory 9%
Financial Health Average 54
Solvency, leverage, coverage 9%
Momentum Strong 98
Trend strength, vol-adjusted 12%
Ownership Strong 84
FII/DII/promoter flows 24%
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
Oscillators
Bearish
Bearish
4
Neutral
2
Bullish
3
Overall
Bullish
Bearish
4
Neutral
2
Bullish
13
Moving Averages
Bullish
Bearish
0
Neutral
0
Bullish
10
Growth Rate
Revenue Growth
8.82% higher than
3Y
change over 1 year
Net Income Growth
64.31% higher than
3Y
change over 1 year
Cash Flow Change
768%
change over 1 year
EBITDA Margin Change
20.7%
change over 1 year Operating margin 16% · Jun 2026
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,070 | 1,001 | 1,103 | 939 | 995 | 935 | 1,005 | 962 | 903 | 1,060 | 1,167 | 1,093 | 1,732 |
| 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 |
| Depreciation | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 8 | 8 |
| PBT | 67 | 58 | 66 | 19 | 46 | 25 | 27 | 17 | 32 | 51 | 45 | 52 | 264 |
| Tax % | 19% | 18% | 23% | 37% | 29% | 26% | 24% | 27% | 18% | 22% | 24% | 29% | 22% |
| Net Profit | 54 | 48 | 51 | 12 | 33 | 18 | 20 | 12 | 26 | 40 | 34 | 37 | 206 |
| 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 |
Profit & Loss
| Particulars | Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 49 | 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 % | 1778% | 0% | 85% | 73% | 0% | 0% | 2% | 3% | 6% | 5% | — |
Balance Sheet
| Particulars | 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 |
| 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
| Particulars | Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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
| Particulars | 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 | 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
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Gandhar Oil Refinery insights
62 extracted metrics + investor summaries across FY16–FY27.
Documents
Frequently Asked Questions about Gandhar Oil Refinery
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.[1]
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 market capitalisation of Gandhar Oil Refinery (India) Ltd?
Gandhar Oil Refinery (India) Ltd has a market capitalisation of ₹2,955 Cr as of 13 Oct 2026, which places it in the Small Cap band.
What is the PE ratio of Gandhar Oil Refinery (India) Ltd?
Gandhar Oil Refinery (India) Ltd trades at a PE ratio of 9.80 as of 13 Oct 2026, on earnings per share of ₹30.8, against a book value of ₹138.15 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 ₹310.85 as of 13 Oct 2026.
Does Gandhar Oil Refinery (India) Ltd pay dividends?
Gandhar Oil Refinery (India) Ltd has a dividend yield of 0.65%.
What is the Return on Equity (ROE) of Gandhar Oil Refinery (India) Ltd?
Gandhar Oil Refinery (India) Ltd reported a return on equity of 9.81%. 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.[1]
Website gandharoil.com
CEO Mr. Ramesh Babulal Parekh
Employees 410
Listed 2023-11-30
Face Value ₹ 2
Shares Outstanding 9,78,79,530
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