Gandhar Oil Refinery (India) Limited
GANDHAR · 544029 · Energy · Lubricants
- Market cap
- Rs 2,429 Cr
- P/E
- 5.51x
- P/B
- 1.43x
- 52W high / low
- Rs 318.9 / Rs 115
P/E, P/B and ROE are inconsistent: ROE x P/E = 1.88 but P/B = 1.43 (> 25% apart); one input is likely on a different basis. Our computed roe (34.02%) diverges from BSE's own published figure (12.07%) by more than 100%. BSE's figure is a different, BSE-computed number (not necessarily TTM, standalone-only) — treat as a cross-check/fallback signal, not proof either figure is wrong.
About Gandhar Oil Refinery (India)
Gandhar Oil Refinery (India) Limited is listed on the NSE under the symbol GANDHAR and on the BSE under scrip code 544029. It is classified in the Energy sector, industry: Lubricants. It is a constituent of BSE Energy. The company listed on 30 Nov 2023 and has a face value of Rs 2.
The latest available end-of-day price is Rs 248.1 (−4.81% on the day), for a market capitalisation of Rs 2,429 Cr. Trailing P/E is 5.51x and price-to-book is 1.43x. The 52-week range is Rs 115 to Rs 318.9. The latest price is 65% of the way from the 52-week low to the 52-week high.
Against the 7-company comparison set from the official BSE basic industry Lubricants, its market capitalisation is 0.9 times the peer median of Rs 2,758 Cr, and its P/E of 5.51x compares with a peer median of 10.92x. The comparison set is chosen mechanically from the exchange classification; it is not a ranking.
Latest annual results
For FY26 (year ended 31 Mar 2026), Gandhar Oil Refinery (India) Limited reported revenue of Rs 4,241 Cr and net profit of Rs 137 Cr, with a net margin of 3.24% and earnings per share of Rs 13.83 (consolidated statements).
Year-on-year change: revenue +8.82%; net profit +64.38%; EPS +69.07%.
At the same date the balance sheet shows total assets of Rs 2,225 Cr, shareholders' equity of Rs 1,352 Cr, total debt of Rs 168 Cr, cash of Rs 28.2 Cr, a debt-to-equity ratio of 0.12 and operating cash flow of Rs 128 Cr.
On a trailing-twelve-month basis the filings add up to revenue of Rs 5,839 Cr, net income of Rs 464 Cr and a net margin of 7.94%.
Shareholding pattern
In the shareholding pattern for 30 Sept 2026, Gandhar Oil Refinery (India) Limited's ownership is split: promoters 66.65%; foreign institutional investors (FIIs) 5.47%; domestic institutional investors (DIIs) 1.07%; retail and other shareholders 26.81%.
Compared with the filing for 30 Jun 2026: promoter holding +0.05 percentage points; FII holding +4.19 percentage points; DII holding +0.05 percentage points.
The same filing lists reported promoter pledge of 0.00% and 1,21,234 shareholders on record.
Recent filings and corporate actions
157 BSE corporate announcements were filed by Gandhar Oil Refinery (India) Limited in the past twelve months; the most frequent category is "Company Update" (93). The most recent is "with reference and continuation to our letter dated October 19th, 2026 and Pursuant to Regulation 30 of Listing regulations, please note th…" (Company Update), filed on 28 Oct 2026.
The disclosed corporate-action timeline lists 4 entries: dividend (4). The latest is a dividend (Interim Dividend - Rs. - 2.0000) with ex-date 31 Jul 2026.
Figures are raw disclosures from official NSE/BSE and SEBI filings plus mechanically computed ratios, restated in words. This is research data, not investment advice, a rating or a recommendation; DalalOS is not a SEBI-registered investment advisor.
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Peer comparison
Official BSE basic industry: Lubricants. Limited to companies within a 0.1x–10x market-cap band.
Edit columns
| Castrol India Limited | Rs 187.62 | Rs 18,558 Cr | Rs 6,656 Cr | Rs 1,011 Cr | 18.38x | 52.96% |
| Gulf Oil Lubricants India Limited | Rs 1,063.3 | Rs 5,269 Cr | Rs 4,912 Cr | Rs 401 Cr | 12.99x | 27.00% |
| Savita Oil Technologies Limited | Rs 659.4 | Rs 4,521 Cr | Rs 4,936 Cr | Rs 414 Cr | 10.92x | 23.81% |
| Panama Petrochem Limited | Rs 455.9 | Rs 2,758 Cr | Rs 4,119 Cr | Rs 479 Cr | 5.76x | 35.16% |
| Gandhar Oil Refinery (India) LimitedThis company | Rs 248.1 | Rs 2,429 Cr | Rs 5,853 Cr | Rs 464 Cr | 5.51x | 34.02% |
| Veedol Corporation Limited | Rs 1,335 | Rs 2,270 Cr | Rs 2,279 Cr | Rs 220 Cr | 10.32x | 22.55% |
| GP Petroleums Limited | Rs 66.01 | Rs 337 Cr | — | — | 12.72x | — |
| Median | Rs 455.9 | Rs 2,758 Cr | Rs 4,924 Cr | Rs 439 Cr | 10.92x | 30.51% |
Peers are selected mechanically from the official BSE industry hierarchy and current market-cap band. This is a comparison set, not a ranking or recommendation.
Companies related to Gandhar Oil Refinery (India)
Same official industry (Lubricants)
- Castrol India LimitedCASTROLIND · Market cap Rs 18,558 Cr
- Gulf Oil Lubricants India LimitedGULFOILLUB · Market cap Rs 5,269 Cr
- Savita Oil Technologies LimitedSOTL · Market cap Rs 4,521 Cr
- Panama Petrochem LimitedPANAMAPET · Market cap Rs 2,758 Cr
- Veedol Corporation LimitedVEEDOL · Market cap Rs 2,270 Cr
- GP Petroleums LimitedGULFPETRO · Market cap Rs 337 Cr
Other Energy companies of a similar market capitalisation
- Adani Total Gas LimitedATGL · Market cap Rs 60,115 Cr
- Petronet LNG LimitedPETRONET · Market cap Rs 43,373 Cr
- Aegis Logistics LimitedAEGISLOG · Market cap Rs 41,372 Cr
- Mangalore Refinery and Petrochemicals LimitedMRPL · Market cap Rs 30,362 Cr
- Aegis Vopak Terminals LimitedAEGISVOPAK · Market cap Rs 26,171 Cr
- Chennai Petroleum Corporation LimitedCHENNPETRO · Market cap Rs 22,512 Cr
- Indraprastha Gas LimitedIGL · Market cap Rs 19,830 Cr
- Mahanagar Gas LimitedMGL · Market cap Rs 10,402 Cr
Companies are grouped mechanically from the exchange classification and listed by market capitalisation. This is a comparison set, not a ranking or recommendation.