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Gandhar Oil Ref.

Q3 FY26Petroleum Products

Gandhar Oil Refinery (India) Q3 FY26 earnings call: Revenue & Margins

Q3 FY26 earnings call: what management said on revenue, margins and capex.

Price₹250
Market cap₹2.4K Cr
P/E8.0
Updated23 Aug 2026
Read4 min read

Gandhar Oil Ref. Q3 FY26 key numbers

Revenue
Current installed capacity is 6 lakh kiloliters with an expected 30% increase (~60,000 kL) in the next 2 years.

As stated in Gandhar Oil Ref.'s Q3 FY26 earnings call transcript · published 16 Jul 2026. Reported figures, not investment advice.

The short version

Current installed capacity is 6 lakh kiloliters with an expected 30% increase (~60,000 kL) in the next 2 years. Gandhar Oil Refinery expects EBITDA margins to improve from the current ~5-5.5% level, aiming for expansion in the near future.

From Gandhar Oil Ref.'s Q3 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Current installed capacity is 6 lakh kiloliters with an expected 30% increase (~60,000 kL) in the next 2 years.
  • Volume growth of 10-15% per year is expected over the next 2-3 years even without new land expansion.
  • Exports currently contribute about 45% of revenue, expected to grow by another 5-10%, reaching 50-55% in the short to medium term.
  • Peak revenue per liter is estimated to be around INR 7,500 to INR 7,800 at current prices.
  • PHPO (personal care, health care products) segment expected to grow at high single digits, driven by FMCG sector recovery and export growth.

2 more points from Gandhar Oil Ref.'s call on revenue

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Profitability & Margins

See what Gandhar Oil Ref. said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Yes, Gandhar Oil Refinery is planning capital expenditure (capex) and expansion:
  • Purchased 453 decimals of land adjacent to existing factories at Silvassa and Taloja for future expansion.
  • Expect new capex to start by end of this year or next year.
  • Current capex related to maintenance, debottlenecking, and additional storage tanks has been completed.
  • Sharjah plant:
  • Currently operating at ~70-72% capacity.
  • Raw material supply and customer accreditation ongoing to reach near full capacity in 2-2.5 years.
  • Vadhvan port project:
  • Awaiting government tender flotation; involves chemical storage and existing operations support.

2 more points from Gandhar Oil Ref.'s call on capex

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Top-ranked in Petroleum Products

Ranked on what management guided this quarter

Guidance-ranked
1Continental Petroleums Ltd
Rev 2Mar 1
2Arabian Petrol.
Rev 2Mar 2
3
Rev 3Mar 2
4
Rev 3Mar 3
5
Rev 3Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

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Order Book & Pipeline

From the discussion, the following can be inferred: - The company is closely working with multinational customers on specific formulations and new products, currently under R&D trials. - Exports form a significant portion (~45%) of turnover with expected growth in exports by 5-10% in the short-to-medium term. - The company has strong existing customer relationships with price pass-through contracts covering about 35% of business. - They are increasing volumes steadily, expecting to grow 10-15% annually over the next 2-3 years even without capacity expansion.

2 more points from Gandhar Oil Ref.'s call on order book

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Gandhar Oil Ref. — Quarterly revenue & net profit

Revenue Net profit
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26
Jun 2026Q1 FY27
Sep 2026Q2 FY27

Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹1.8K Cr, net profit ₹186 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Gandhar Oil Refinery (India) Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Gandhar Oil Ref. Q3 FY26 results?

Current installed capacity is 6 lakh kiloliters with an expected 30% increase (~60,000 kL) in the next 2 years. Gandhar Oil Refinery expects EBITDA margins to improve from the current ~5-5.5% level, aiming for expansion in the near future.

What is Gandhar Oil Ref. share price analysis?

Gandhar Oil Ref. currently shows a neutral. The stock trades at a P/E of 8.0 with a market cap of ₹2,404 Cr. Investors should review the full earnings analysis for detailed insights.

Is Gandhar Oil Ref. planning capital expenditure?

Yes, Gandhar Oil Refinery is planning capital expenditure (capex) and expansion: - Purchased 453 decimals of land adjacent to existing factories at Silvassa and Taloja for future expansion.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.