Gandhar Oil Refinery (India) Lt Share Price ₹159

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Gandhar Oil Refinery (India) Ltd

Quarter-by-quarter operating performance

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales +	987	1,070	1,001	1,103	939	995	935	1,005	962	903	1,060	1,167	1,093
Expenses +	940	986	925	1,018	906	934	895	964	928	857	994	1,108	1,030
Operating Profit	47	84	76	85	34	60	40	42	34	46	66	59	64
OPM %	5%	8%	8%	8%	4%	6%	4%	4%	3%	5%	6%	5%	6%
Other Income +	6	1	2	2	5	5	2	2	4	3	3	4	4
Interest	14	13	15	16	14	13	11	10	14	10	10	10	8
Depreciation	5	5	5	5	6	6	6	6	7	7	7	7	8
Profit before tax	34	67	58	66	19	46	25	27	17	32	51	45	52
Tax %	18%	19%	18%	23%	37%	29%	26%	24%	27%	18%	22%	24%	29%
Net Profit +	28	54	48	51	12	33	18	20	12	26	40	34	37
EPS in Rs	2.77	5.59	4.91	4.83	0.93	3.15	1.86	1.98	1.19	2.68	3.68	3.31	4.16

Financials of Gandhar Oil Refinery (India) Ltd

Annual income statement trend

	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Sales +	1,756	2,169	3,568	2,504	2,221	3,543	4,079	4,113	3,897	4,241
Expenses +	1,680	2,042	3,496	2,444	2,081	3,296	3,762	3,833	3,721	4,007
Operating Profit	76	127	72	60	140	247	317	280	176	234
OPM %	4%	6%	2%	2%	6%	7%	8%	7%	5%	6%
Other Income +	10	13	11	13	29	26	24	10	13	14
Interest	47	31	48	50	37	33	52	59	49	38
Depreciation	8	9	8	11	11	15	17	20	26	30
Profit before tax	31	100	27	13	120	225	272	210	114	181
Tax %	16%	26%	30%	24%	17%	27%	21%	21%	27%	24%
Net Profit +	26	74	19	10	100	164	214	165	83	137
EPS in Rs	162.19	46.43	11.71	6.16	62.70	18.42	23.86	14.36	8.18	13.83
Dividend Payout %	1,778%	0%	85%	73%	0%	0%	2%	3%	6%	0%

Financials of Gandhar Oil Refinery (India) Ltd

Capital structure and asset base

	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	16	16	16	16	16	16	16	20	20	20
Reserves	212	285	368	330	429	525	727	1,153	1,217	1,333
Borrowings +	272	326	116	146	90	191	220	271	305	315
Other Liabilities +	374	481	771	516	566	586	668	497	418	558
Total Liabilities	875	1,108	1,271	1,008	1,101	1,318	1,632	1,940	1,959	2,225
Fixed Assets +	74	78	99	97	88	190	238	361	450	498
CWIP	2	4	5	12	22	44	73	9	8	29
Investments	0	0	1	0	7	0	0	0	0	3
Other Assets +	798	1,025	1,166	899	984	1,084	1,321	1,570	1,501	1,695
Total Assets	875	1,108	1,271	1,008	1,101	1,318	1,632	1,940	1,959	2,225

Financials of Gandhar Oil Refinery (India) Ltd

Operating, investing and financing cash movement

	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	214	-26	165	70	118	167	88	-69	15
Cash from Investing Activity +	-10	-8	1	-24	-22	-116	-72	-66	-48
Cash from Financing Activity +	-221	24	-176	-45	-91	-4	-29	160	13
Net Cash Flow	-16	-10	-11	2	5	47	-13	25	-21
Free Cash Flow	195	-41	154	54	108	51	32	-125	-43
CFO/OP	299%	-11%	265%	118%	85%	90%	47%	-8%	26%

Financials of Gandhar Oil Refinery (India) Ltd

Working capital efficiency and return ratios

	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	90	95	63	64	84	46	50	55	63	62
Inventory Days	54	51	30	32	38	40	47	46	50	63
Days Payable	84	81	84	82	101	63	59	38	34	43
Cash Conversion Cycle	60	65	9	14	22	22	38	63	79	82
Working Capital Days	70	75	17	23	37	19	33	58	77	78
ROCE %		23%		13%	31%	39%	37%	22%	11%	13%