Gandhar Oil Refinery (India) Ltd. delivered exceptional quarterly results for the April-June 2026 quarter, with consolidated net profit surging 689% year-on-year to ₹206 crore compared to ₹26 crore in the same quarter of the previous year. According to latest reports, revenue from operations increased dramatically by 92% YoY to ₹1,732 crore from ₹903 crore in Q1 FY26. The company's operating profit margin (OPM) improved significantly to 16.2% from 5.09% in Q1 FY26, while absolute EBITDA at ₹281 crore rose more than six-fold YoY. Gross profit jumped 3.4x YoY to ₹370.5 crore, with gross margin spread expanding 3.4x YoY to ₹28,145 per kilolitre. Manufacturing volumes increased 8% YoY to 1,31,247 kilolitres during the quarter, demonstrating strong operational execution across key segments. The company's EPS gained 633% to ₹19.65 from ₹2.68 for the quarter under review, reflecting the exceptional profitability improvement.
On a standalone basis, the company posted even stronger sequential performance, with net profit reaching ₹179 crore for Q1FY27, more than four times higher than ₹44.13 crore in the March quarter. Revenue rose 71.2% sequentially to ₹1,591 crore from ₹929 crore, while EBITDA surged to ₹249.2 crore from ₹65.5 crore over the same period. The company's operating performance also improved significantly, with EBITDA margin expanding to 15.7% from 7% in the previous quarter, reflecting stronger profitability. Management indicated that the company has historically delivered 8-11% volume growth and expects to sustain that trajectory going forward. The company currently exports to more than 100 countries, while its personal care business emerged as the best-performing segment in the June quarter.
The company attributed its exceptional performance to several key operational factors, as reported by CNBC TV18. Gandhar Oil cited agile sourcing, disciplined inventory management and a favourable product mix despite facing challenging operating conditions including geopolitical developments in West Asia, crude oil price volatility and supply chain disruptions. The company emphasized its success was driven by healthy revenue growth and stronger gross margin spreads. Aslesh Parekh, Joint Managing Director, highlighted that the PHPO segment remained the key growth driver supported by demand from personal care, healthcare and pharmaceutical sectors. The PIO business also saw encouraging traction, backed by healthy demand from transformer, power and rubber manufacturers. Growth in the lubricants segment remained largely stable, while the business continued to make a meaningful contribution to the company's diversified product mix. The company also sustained positive business momentum during the quarter, supported by an expanding export presence and stronger engagement with marquee customers.
Gandhar Oil Refinery shares hit the 20% upper circuit at ₹284 on the BSE on Thursday after the company reported record quarterly performance, with the stock hitting a fresh 52-week high. As reported by CNBC TV18, the company's board also declared an interim dividend of ₹2 per equity share for FY27, equivalent to 100% of the face value and fixed July 24, 2026 as the record date to determine shareholder eligibility. From the beginning of the year, Gandhar Oil Refinery India's shares have soared 84%, with the stock jumping 57% over a month and 74% in the past six months, reflecting strong investor confidence in the company's growth trajectory. The strong earnings also lifted peers, with Panama Petrochem gaining 10% and Savita Oil rising 12%, demonstrating the positive sentiment across the oil refining sector. Management outlined ambitious growth plans focused on expanding its healthcare and consumer business, increasing international presence, moving further up the value chain through contract manufacturing, and adding capacity across existing manufacturing locations. The company also emphasized that it continues to operate with an effectively debt-free balance sheet and plans to fund future capacity expansion through internal accruals.
