Gandhar Oil Refinery (India) Limited

BSE: GANDHAR544029ISIN INE717W01049

Energy
Lubricants
BSE Energy

Share price

₹269.80+6.20 (+2.35%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹319.70
52W low: ₹116.00
Off 52W high: -15.61%
1M return: -2.81%
3M return: +16.42%
6M return: +71.52%
1Y return: +101.72%
20D avg volume: 91,340
50 DMA: ₹274.65
200 DMA: ₹194.54

Key ratios Consolidated

Market cap: ₹2,641 Cr
Current price: ₹269.80
52W high / low: ₹319.70 / ₹116.00
Face value: ₹2.00
P/E: 5.70
P/B: 1.55
EPS (TTM): ₹47.36
Book value / share: ₹173.57
ROE: —
ROCE: 13.80%
Operating margin: —
Net margin: —
Debt / equity: 0.12
Net debt: ₹140.30 Cr
Interest cover: 5.80
Dividend yield: 1.02%
Dividend / share (TTM): ₹2.75
Payout: 5.81%
Cash conversion cycle: 79.8 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	1,847	1,732	1,093	1,167	1,060	902.96	961.73	1,005	935.09	994.82	939.24	1,103
	2.98	3.02	4.20	3.58	2.95	2.69	3.54	2.14	2.28	5.04	4.79	1.69
	1,850	1,735	1,098	1,171	1,063	905.65	965.26	1,007	937.38	999.85	944.03	1,104
	1,580	1,471	1,045	1,126	1,012	873.88	948.50	980.55	912.69	953.83	924.82	1,039
	1,489	1,382	920.13	1,039	952.05	808.78	838.68	893.21	810.64	880.88	836.85	941.61
	1.72	0.67	8.54	40.99	4.56	0.00	6.54	17.79	6.93	29.28	0.71	4.15
	31.28	11.91	23.23	13.01	11.75	11.51	19.13	11.40	11.13	11.47	25.24	10.12
	13.25	12.74	7.61	10.10	10.27	9.61	13.51	10.50	11.40	12.99	13.64	16.08
	8.03	7.84	7.66	7.46	7.49	7.26	6.84	6.33	6.37	6.36	5.54	5.00
	68.78	77.31	49.76	37.13	44.60	43.76	60.28	—	—	38.37	48.07	—
	269.38	263.76	52.48	45.14	51.03	31.78	16.77	26.88	24.68	46.02	19.21	65.72
	-21.29	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	248.09	263.76	52.48	45.14	51.03	31.78	16.77	26.88	24.68	46.02	19.21	65.72
	61.81	57.86	15.43	10.81	11.37	5.69	4.48	6.46	6.42	13.37	7.10	14.81
	186.28	205.90	37.05	34.33	39.77	26.09	12.29	20.42	18.14	32.65	12.11	50.91
	17.87	19.65	4.16	3.31	3.68	2.68	1.19	1.98	1.91	3.40	1.06	5.47
Key metrics
	269.37	284.34	67.75	62.70	68.79	48.65	37.12	43.71	42.45	65.37	38.39	86.80
	14.60%	16.40%	6.20%	5.40%	6.50%	5.40%	3.90%	4.30%	4.50%	6.60%	4.10%	7.90%
	10.10%	11.90%	3.40%	2.90%	3.80%	2.90%	1.30%	2.00%	1.90%	3.30%	1.30%	4.60%
	13.30%	—	3.80%	—	4.00%	—	2.10%	—	—	—	—	—
	74.20%	91.80%	13.70%	16.10%	13.30%	-9.20%	2.40%	-8.80%	—	—	—	—
	368.40%	689.20%	201.50%	68.10%	119.20%	-20.10%	1.50%	-59.90%	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	5,839	4,241	3,897	4,113
	13.78	13.42	13.00	9.89
	5,853	4,255	3,910	4,123
	5,222	4,074	3,796	3,913
	4,829	3,719	3,423	3,533
	51.92	54.08	60.54	90.12
	79.43	59.50	53.14	56.74
	43.70	37.59	48.39	58.19
	30.99	29.87	25.90	20.13
	232.98	193.13	198.33	157.53
	630.76	180.43	114.35	210.31
	-21.29	0.00	0.00	0.00
	609.47	180.43	114.35	210.31
	145.91	43.29	30.74	44.99
	463.56	137.25	83.50	165.32
	44.99	13.83	8.18	16.27
Key metrics
	684.16	247.89	188.64	288.63
	11.72%	5.80%	4.80%	7.00%
	7.94%	3.20%	2.10%	4.00%
	—	13.80%	11.20%	—
	48.58%	8.80%	-5.30%	—
	370.29%	64.40%	-49.50%	—
	—	48.01	-42.93	—
	—	0.93	0.18	—
	—	0.12	0.14	—
	—	140.30	130.99	—
	—	79.8	76.6	—
Balance sheet
	—	2,225	1,959	—
	—	1,673	1,489	—
	—	28.16	50.60	—
	—	720.88	670.37	—
	—	644.31	462.70	—
	—	159.13	178.48	—
	—	373.84	337.72	—
	—	437.22	314.68	—
	—	640.64	511.86	—
	—	168.46	181.59	—
	—	137.15	153.23	—
	—	31.31	28.36	—
	—	1,400	1,289	—
Cash flow
	—	127.77	14.71	—
	—	-62.15	-48.10	—
	—	-88.05	12.55	—
	—	79.76	57.64	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	1,730	1,591	929.38	922.60	807.27	745.44	751.75	856.97	761.25	790.29	717.28	736.58
	3.58	3.42	5.43	9.28	3.52	3.20	3.85	2.72	2.83	5.45	8.83	1.78
	1,734	1,594	934.81	931.88	810.79	748.64	755.60	859.68	764.08	795.74	726.11	738.36
	1,487	1,358	875.27	885.85	767.26	716.82	741.01	835.78	739.44	753.43	712.92	679.96
	1,438	1,276	771.21	801.81	738.30	667.72	641.89	749.67	669.86	692.48	631.71	605.76
	1.72	1.55	8.71	41.03	4.56	1.08	7.42	32.73	6.93	29.28	0.71	4.15
	26.51	8.35	19.43	8.98	7.51	7.53	15.55	7.19	7.25	7.16	20.24	6.50
	10.76	9.90	5.25	6.28	6.03	5.96	9.14	7.27	7.67	9.03	7.91	10.52
	6.63	6.43	6.29	6.14	6.15	6.08	6.55	5.06	5.11	5.11	4.31	3.80
	61.56	71.20	39.12	26.58	32.89	35.23	52.16	—	—	30.14	43.05	31.09
	246.13	236.36	59.54	46.03	43.53	31.82	14.59	23.90	24.64	42.32	13.19	58.39
	-21.29	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	224.84	236.36	59.54	46.03	43.53	31.82	14.59	23.90	24.64	42.32	13.19	58.39
	61.73	57.54	15.41	10.23	11.31	5.60	4.06	6.40	6.36	13.34	7.09	14.78
	163.11	178.82	44.13	35.80	32.22	26.23	10.53	17.50	18.28	28.97	6.09	43.62
	16.66	18.27	4.51	3.66	3.29	2.68	1.08	1.79	1.92	3.19	0.71	5.04
Key metrics
	242.23	252.69	71.08	58.45	55.71	43.86	30.28	36.23	37.42	56.46	25.41	72.71
	14.00%	15.90%	7.60%	6.30%	6.90%	5.90%	4.00%	4.20%	4.90%	7.10%	3.50%	9.90%
	9.40%	11.20%	4.70%	3.90%	4.00%	3.50%	1.40%	2.00%	2.40%	3.70%	0.80%	5.90%
	13.70%	—	4.60%	—	3.70%	—	1.90%	—	—	—	—	—
	114.30%	113.40%	23.60%	7.70%	6.00%	-5.70%	4.80%	16.30%	—	—	—	—
	406.20%	581.70%	319.10%	104.60%	76.30%	-9.50%	72.90%	-59.90%	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	5,173	3,423	3,160	2,842
	21.71	21.44	14.86	17.18
	5,195	3,444	3,175	2,859
	4,607	3,263	3,070	2,695
	4,288	2,979	2,754	2,383
	53.01	55.37	76.36	90.12
	63.27	43.45	37.15	39.95
	32.19	23.52	33.12	38.10
	25.49	24.66	21.82	15.42
	198.46	151.70	163.35	127.57
	588.06	180.93	105.45	163.62
	-21.29	0.00	0.00	—
	566.77	180.93	105.45	163.62
	144.91	42.54	30.16	44.91
	421.86	138.39	75.29	118.71
	43.10	14.14	7.69	13.75
Key metrics
	624.45	229.11	160.39	217.14
	12.07%	6.70%	5.10%	7.60%
	8.16%	4.00%	2.40%	4.20%
	—	14.60%	10.90%	—
	63.63%	8.30%	11.20%	—
	387.81%	83.80%	-36.60%	—
	—	3.17	-60.12	—
	—	0.57	-0.08	—
	—	0.00	0.00	—
	—	-4.45	-40.16	—
	—	78.7	69.9	—
Balance sheet
	—	1,862	1,588	—
	—	1,408	1,196	—
	—	4.45	40.16	—
	—	631.37	548.47	—
	—	528.06	344.12	—
	—	141.43	166.41	—
	—	282.67	245.61	—
	—	421.43	286.84	—
	—	465.08	317.08	—
	—	0.00	0.00	—
	—	0.00	0.00	—
	—	0.00	0.00	—
	—	1,300	1,174	—
Cash flow
	—	79.50	-5.72	—
	—	-61.17	-42.56	—
	—	-54.04	35.88	—
	—	76.33	54.40	—

Compounded growth

Standalone

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +63.63%
Profit YoY (TTM): +387.81%

Consolidated

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +48.58%
Profit YoY (TTM): +370.29%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 66.66%

Quarter	September 2026	June 2026
Promoter %	66.66%	66.61%

Holder	Type	Holding	Previous	Change
Ramesh Babulal Parekh	Promoter	28.80%	28.75%	+0.05%
Gulab Jitendra Parekh	Promoter Group	8.74%	8.74%	0.00%
Padmini Kailash Parekh	Promoter Group	8.73%	8.73%	0.00%
Sunita Rameshkumar Parekh	Promoter Group	2.76%	2.76%	0.00%
Rajiv Jitendra Parekh	Promoter Group	2.17%	2.17%	0.00%
Saurabh Ramesh Parekh	Promoter Group	2.09%	2.09%	0.00%
Samir Ramesh Parekh	Promoter	1.98%	1.98%	0.00%
Kunal Kailash Parekh	Promoter Group	1.97%	1.97%	0.00%
Aslesh Rameshkumar Parekh	Promoter	1.97%	1.97%	0.00%
Gandhar Coals & Mines Private Limited	Promoter Group	1.72%	1.72%	0.00%
Pooja Nishant Shah	Promoter Group	1.58%	1.58%	0.00%
Divya Binit Shah	Promoter Group	1.58%	1.58%	0.00%
Sharmishtha Samir Parekh	Promoter Group	0.77%	0.77%	0.00%
Alka Rajivkumar Parekh	Promoter Group	0.77%	0.77%	0.00%
Nishita Saurabh Parekh	Promoter Group	0.51%	0.51%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Castrol India Ltd S	19,283	194.95	19.08	—	+16.96% TTM	+3.51% TTM	+0.62%
Gulf Oil Lubricants India Limited	5,379	1,085.50	13.41	30.90%	+24.69% TTM	+8.62% TTM	-14.22%
Savita Oil Technologies Limited	4,633	675.80	7.92	14.30%	+36.62% TTM	+323.33% TTM	+69.99%
Panama Petrochem Ltd.	2,775	458.75	4.15	18.10%	+74.95% TTM	+255.21% TTM	+67.49%
Gandhar Oil Refinery (India) Limited	2,641	269.80	5.70	13.80%	+48.58% TTM	+370.29% TTM	+101.72%
VEEDOL CORPORATION LIMITED	2,470	1,417.65	11.23	19.30%	+12.89% TTM	+21.27% TTM	-19.83%
GP Petroleums Limited S	327	64.13	6.41	10.20%	+43.65% TTM	+87.57% TTM	+59.93%
Greenhitech Ventures Limited	42	32.60	—	1.50%	—	—	-71.84%

Filings & corporate actions

Recent announcements

The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Samir Ramesh Parekh4 Nov 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Gandhar Coals & Mines Pvt Ltd4 Nov 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Samir Ramesh Parekh3 Nov 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ramesh Babulal Parekh3 Nov 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ramesh Babulal Parekh3 Nov 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Pursuant to Regulation 30 of SEBI (LODR) Regulations,2015 in furtherance to our letter dated October 28, 2026 wherein we had informed regarding of the Analysts/Investors earning call held ....2 Nov 2026 · Company Update / Analyst / Investor Meet
Pursuant to Regulation 30 of SEBI (LODR) Regulations,2015 in furtherance to our letter dated October 28, 2026 wherein we had informed regarding of the Analysts/Investors earning call held ....2 Nov 2026 · Company Update / Analyst / Investor Meet
with reference and continuation to our letter dated October 19th, 2026 and Pursuant to Regulation 30 of Listing regulations, please note that the link for earning call with Analyst/institutional ....28 Oct 2026 · Company Update / Analyst / Investor Meet
Pursuant to regulation 47 of SEBI listing regulations we are enclosing herewith the copy of newspaper "Business standard" (English newspaper) and "Sakal" (Marathi edition) of today i.e. ....28 Oct 2026 · Company Update / Newspaper Publication
Intimation of Investor presentation on financial results for the quarter and half year ended September 30, 2026.27 Oct 2026 · Company Update / Investor Presentation
Pursuant to Regulation 30 of SEBI (LODR) regulations, 2015, please find enclosed herewith press release on Un-audited Financial results (Standalone & Consolidated) for quarter and half ....27 Oct 2026 · Company Update / Press Release / Media Release
Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015- Gandhar Oil Refinery (India) Limited has informed the exchange about Change in Management.27 Oct 2026 · Company Update / Change in Management
Un-audited financial results (Standalone & Consolidated) for quarter and half year ended September 30, 202627 Oct 2026 · Result / Financial Results
Pursuant to Regulation 30 and 33 with Part A of Schedule III and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) ....27 Oct 2026 · Board Meeting / Outcome of Board Meeting
Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Company has scheduled ....19 Oct 2026 · Company Update / Analyst / Investor Meet
Gandhar Oil Refinery (India) Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 27/10/2026 ,inter alia, to consider and approve Pursuant to Regulation ....19 Oct 2026 · Board Meeting / Board Meeting
Pursuant to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, we are enclosing herewith a copy of certificate received from MUFG Intime India Private Limited ("Formerly ....14 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Pursuant to Regn 30 of SEBI (LODR),2015 and SEBI SBEB and SE regulations,2021, we wish to inform you that the Board on recommendation of NRC committee has approved allotment of 9290 equity ....6 Oct 2026 · Company Update / Allotment of ESOP / ESPS
Pursuant to Regn 30(6) read with Para A of Part A of Schedule III of SEBI (LODR) regn,2015, we hereby inform you that CRISIL Ratings Limited, has assigned Credit ratings in respect of the ....30 Sep 2026 · Company Update / Credit Rating
Pursuant to Regn 30 read with Para B of Part A of Schedule III (Clause 8) of the SEBI (LODR), 2015 we wish to inform you that the Company has received the order dated September 23,2026 ....24 Sep 2026 · Company Update / General
The Trading Window for dealing in the securities of the Company will remain closed for all Designated Persons/ Connected and their immediate relatives from Thursday, October 01, 2026 till ....24 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Pursuant to regulation 30 of SEBI (LODR),2015, we would like to inform you that the representatives of the management of the Company will be participating in the conference of Arihant Capital ....23 Sep 2026 · Company Update / Analyst / Investor Meet
Scrutinizer''s report for the 34th Annual General Meeting (AGM) of the Company held on Friday, September 11, 2026.11 Sep 2026 · AGM/EGM / AGM
Proceedings of 34th Annual General Meeting of the Company held on Friday, September 11, 2026.11 Sep 2026 · AGM/EGM / AGM
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ramesh Babulal Parekh10 Sep 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ramesh Parekh10 Sep 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Company had informed that in continuation to intimation 26th May, 2026, 13th August, 2026 and pursuant to Regulation 30 of SEBI (LODR) Regulation, 2015, the Company has entered into ....4 Sep 2026 · Company Update / General
Pursuant to Regulation 30 of SEBI (LODR), 2015, the officials of the company will be meeting Investors/Analysts (Participants) on September 7th, 2026 e. i. Monday at 03:00 p.m. in -person ....1 Sep 2026 · Company Update / Analyst / Investor Meet
Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (LODR) Regulations, 2015 we would like to inform that CRISIL Ratings Limited has assigned Credit ratings ....1 Sep 2026 · Company Update / Credit Rating
Pursuant to Regulation 30 read with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in compliance with section 108 of the Comapnies Act, ....20 Aug 2026 · Company Update / Newspaper Publication
Pursuant to Regulation 34(2)(f) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, please find enclosed herewith ....19 Aug 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
Please find attached herewith Annual report for Financial year 2025-26 along with Notice of 34th AGM of the Company scheduled to be held on Friday, September 11, 2026 at 11:00 A.M. (IST) ....19 Aug 2026 · Others / Reg. 34 (1) Annual Report
Please find attached herewith Annual Report for Financial Year 2025-26 along with Notice of 34th AGM of the Company scheduled to be held on Friday, September 11, 2026 at 11:00 A.M. (IST) ....19 Aug 2026 · AGM/EGM / AGM
Pursuant to Regulation 44 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Voting Results of the ....18 Aug 2026 · AGM/EGM / Postal Ballot
Pursuant to Regulation 44 of the Securities and Exchange of Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Voting Results of ....18 Aug 2026 · AGM/EGM / Postal Ballot
Pursuant to Regulation 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (''SEBI Listing Regulations'') and in compliance with Ministry of Corporate ....18 Aug 2026 · Company Update / Newspaper Publication
Pursuant to Regulation 30 and 47 of the SEBI (Listing Obligations and DIsclosure Requirements) Regulations, 2015 (''SEBI Listing Regulations'') and in compliance with Ministry of Corporate ....17 Aug 2026 · Company Update / Newspaper Publication
Pursuant to Regulation 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (''SEBI Listing Regulations'') and in compliance with Ministry of Corporate ....17 Aug 2026 · Company Update / Newspaper Publication
The Company has informed the Exchange pursuant to Regulation 30 of SEBI (LODR), 2015 and in continuation to the intimation dated 26th May, 2026 the Company has entered into purchase agreement ....13 Aug 2026 · Company Update / General
This is in continuation to our earlier intimation dated July 24, 2026 submitted to stack exchanges and Pursuant to regulation 30 of SEBI (LODR) regulations, 2015 regarding the impact on ....4 Aug 2026 · Company Update / General

Corporate actions

Purpose	Ex date	Record date	Payment date
Interim Dividend - Rs. - 2.0000	31 Jul 2026	31 Jul 2026	—
Interim Dividend - Rs. - 0.7500	30 Jan 2026	30 Jan 2026	—
Final Dividend - Rs. - 0.5000	1 Aug 2025	1 Aug 2025	—
Final Dividend - Rs. - 0.5000	23 Aug 2024	23 Aug 2024	—

Board meetings

27 Oct 2026 Board Meeting - Financial Results
22 Jul 2026 Board Meeting - Financial Results