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Swing Capital

Gandhar Oil Refinery (India) Ltd

NSE: GANDHAR BSE: 544029Healthcare

Incorporated in 1992, Gandhar Oil Limited is a prominent manufacturer of white oils that caters to the consumer and healthcare end industries.[1]

₹155
52W: ₹115 — ₹184
PE 14.4 · Book ₹125 · +24% vs book
Market Cap₹1,517 Cr
Stock P/E14.4Price to Earnings
ROCE11.4%Return on Capital
ROE6.59%Return on Equity
Div. Yield0.48%Face Value ₹2

Strengths

  • +Company is almost debt free.

Weaknesses

  • −The company has delivered a poor sales growth of 5.96% over past five years.
  • −Company has a low return on equity of 13.6% over last 3 years.
  • −Dividend payout has been low at 4.33% of profits over last 3 years

Shareholding Pattern

Promoters66.47%
FIIs0.14%
DIIs0.09%
Public33.3%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters64.63%64.63%64.63%65.01%▲0.465.01%65.01%66.18%▲1.266.47%▲0.3
FIIs0.18%0.02%▼0.20.62%▲0.60.18%▼0.40.24%▲0.10.17%▼0.10.34%▲0.20.14%▼0.2
DIIs2.65%1.84%▼0.81.7%▼0.11.79%▲0.11.97%▲0.22.05%▲0.10.43%▼1.60.09%▼0.3
Public32.56%33.52%▲1.033.05%▼0.533.03%▼0.032.8%▼0.232.77%▼0.033.05%▲0.333.3%▲0.3

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales690737717790761857752745807923
Expenses637666701739727823725705755873
Operating Profit53711751353426415249
OPM %8%10%2%6%5%4%4%5%6%5%
Net Profit3044629181811263236
EPS ₹3.814.460.622.961.871.791.082.683.293.66

AI Insights

Revenue Trend

TTM revenue at ₹3,227Cr, up 2.1% YoY. OPM at 5%.

Debt Position

Borrowings at ₹89Cr. Debt-to-equity ratio: 0.07x. Healthy balance sheet.

Capex Cycle

CWIP at ₹31Cr (10% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.09% (-10.63pp change). FIIs: 0.14% (-3.73pp change). Promoters hold 66.47%.

Margin & Efficiency

ROCE improving from 0% (Mar 2018) to 11% (Mar 2025). Working capital days: 88.

Valuation

PE 14.4x with 11.4% ROCE. Price is 24% above book value of ₹125. Dividend yield: 0.48%.

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