Gandhar Oil Refinery has closed FY26 on a strong note, reporting sharp growth across revenue, margins, and profitability, driven by rising demand for specialty oils and a stronger product mix skewed toward higher-margin segments.

 

The company, a leading manufacturer of white oils used across pharmaceuticals, healthcare, and industrial applications, reported consolidated manufacturing sales volumes of 5,45,755 KL in FY26, up 9% from 5,00,231 KL in FY25. Growth was broad-based but notably led by its PHPO portfolio.

 

Revenue momentum stayed firm through the year. Consolidated revenue rose to Rs. 1,093.4 crore in Q4 FY26 from Rs. 961.7 crore in Q4 FY25, while full-year revenue climbed to Rs. 4,241.2 crore versus Rs. 3,896.9 crore in FY25.

 

Profitability delivered the sharpest gains. EBITDA jumped 88% year-on-year in Q4 FY26 to Rs. 63.6 crore, compared with Rs. 33.6 crore a year earlier. For the full year, EBITDA rose to Rs. 234.5 crore from Rs. 175.6 crore. Net profit after tax showed an even steeper trajectory—surging 201% in Q4 to Rs. 37 crore from Rs.b12.3 crore, and rising to Rs. 137.2 crore for FY26 from Rs. 83.5 crore in FY25.

 

Earnings per share reflected the same momentum, improving to 13.8 in FY26 from 8.2 in FY25.

 

Segment-wise, PHPO remained the clear growth engine, contributing 48% of FY26 revenue. Lubricants accounted for 27%, channel partners 14.81%, and Process Insulating Oil (PIO) 10.19%.

 

Commenting on the results, Joint Managing Director Aslesh Parekh said: “We delivered a strong close to FY26, supported by sustained momentum in domestic demand and a continued strategic focus on higher-margin PHPO products. 

 

"This performance was achieved despite a challenging global environment characterized by macroeconomic pressures, ongoing logistical constraints, and volatility arising from the Middle East geopolitical situation, including the temporary closure of the Strait of Hormuz, which led to a sharp increase in oil prices. Notwithstanding these headwinds, we recorded robust performance across all parameters."