Shares of Gandhar Oil Refinery (India) Limited rose 6.66% to ₹173.32 in early trade on May 27 after the company reported a sharp improvement in profitability for the fourth quarter of FY26, with net profit tripling year-on-year and margins expanding both sequentially and annually.
Revenue from operations came in at ₹1,093.4 crore in Q4 FY26, up 13.7% from ₹961.7 crore in Q4 FY25. Net profit jumped 201% to ₹37 crore from ₹12.3 crore in the year-ago quarter. Profit before tax stood at ₹52 crore against ₹17 crore in Q4 FY25, with Q3 FY26 at ₹45 crore, reflecting steady sequential improvement as well.
| Metric | Q4 FY26 | Q4 FY25 | YoY Change | Q3 FY26 |
|---|---|---|---|---|
| Revenue from Operations | ₹1,093.4 cr | ₹961.7 cr | +13.7% | ₹1,177 cr |
| EBITDA | ₹63.6 cr | ₹34 cr | +88.2% | ₹59.1 cr |
| Profit Before Tax | ₹52 cr | ₹17 cr | +205.9% | ₹45 cr |
| PAT | ₹37 cr | ₹12.3 cr | +201% | ₹34.4 cr |
| EPS (₹) | ₹4.2 | ₹1.2 | +250% | ₹3.3 |
For the full year FY26, revenue from operations rose 8.8% to ₹4,241.2 crore from ₹3,896.9 crore in FY25. Full-year PAT nearly doubled to ₹137.2 crore from ₹83.5 crore in FY25, with full-year EPS at ₹13.8 against ₹8.2 in FY25.
| Metric | FY26 | FY25 | YoY Change |
|---|---|---|---|
| Revenue from Operations | ₹4,241.2 cr | ₹3,896.9 cr | +8.8% |
| EBITDA | ₹234.5 cr | ₹175.6 cr | +33.5% |
| PAT | ₹137.2 cr | ₹83.5 cr | +64.3% |
| EPS (₹) | ₹13.8 | ₹8.2 | +68.3% |
Operating cash flows came in robust at ₹128 crore for the quarter against ₹15 crore in Q4 FY25, a standout improvement that signals strong underlying business quality beyond the headline profit numbers.
Gandhar Oil is India’s largest white oil manufacturer by revenue, with its pharmaceutical, healthcare, and performance oil segment accounting for 48% of FY26 revenues. Lubricants contributed 27%, channel partners 14.81%, and process insulating oil 10.19%. Manufacturing sales volumes for FY26 stood at 5,45,755 kilolitres, up 9% from 5,00,231 kilolitres in FY25.
The board has approved the acquisition of land at Taloja for further capacity expansion, signalling the company’s intent to scale output to meet growing demand from FMCG and consumer industry customers.
The stock trades at a P/E of 15.94 with a market capitalisation of approximately ₹1,692 crore. Its 52-week range stands at ₹115 to ₹184.42.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a qualified financial advisor before making any investment decisions.