Gandhar Oil Refinery (India) Limited Earnings Summary — Q1 FY2027
Gandhar Oil Reports Record Consolidated Net Profit of ₹205.89 Crore Amid Massive Revenue Surge
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue grew 58.4% sequentially in Q1 FY2027.
- Revenue of ₹1,732 Cr is 91.8% higher year-on-year.
- Revenue has compounded at 31.3% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit has reached its highest level in 10 quarters.
- Net profit of ₹192 Cr is 633.1% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 287.3% annualised across the period.
- Operating margin stands at 16.2% in Q1 FY2027.
- Operating margin expanded by 1115 bps year-on-year.
- Over the last two years operating margin has expanded by 1018 bps.
- PBT margin is 15.2%.
- Expense growth of 69.3% remained below revenue growth of 91.8%.
- Operating profit of ₹281 Cr is 512.1% higher year-on-year.
- Operating leverage continues to improve.
- 5 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 85/100 (Excellent) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Accelerating | 1,732 | 1,093 | 1,167 | 1,060 | 903 | 962 | 1,005 | 935 | 995 | 939 |
| Expenses | Accelerating | 1,451 | 1,030 | 1,108 | 994 | 857 | 928 | 964 | 895 | 934 | 906 |
| Operating Profit | Volatile | 281 | 64 | 59 | 66 | 46 | 34 | 42 | 40 | 60 | 34 |
| Operating Margin | Volatile | 16.2% | 5.8% | 5.1% | 6.2% | 5.1% | 3.5% | 4.1% | 4.3% | 6.1% | 3.6% |
| Other Income | Stable | 3 | 4 | 4 | 3 | 3 | 4 | 2 | 2 | 5 | 5 |
| Interest | Accelerating | 13 | 8 | 10 | 10 | 10 | 14 | 11 | 11 | 13 | 14 |
| Depreciation | Improving | 8 | 8 | 7 | 7 | 7 | 7 | 6 | 6 | 6 | 6 |
| Profit Before Tax | Accelerating | 264 | 52 | 45 | 51 | 32 | 17 | 27 | 25 | 46 | 19 |
| Tax | Accelerating | 58 | 15 | 11 | 11 | 6 | 4 | 6 | 6 | 13 | 7 |
| Net Profit | Accelerating | 192 | 41 | 32 | 36 | 26 | 12 | 19 | 18 | 31 | 9 |
| Net Margin | Accelerating | 11.1% | 3.7% | 2.8% | 3.4% | 2.9% | 1.2% | 1.9% | 1.9% | 3.1% | 1.0% |
Key Takeaways
- Consolidated revenue grew 91.8% YoY to ₹1,731.93 crore, driven by strong growth in the petroleum products and specialty oils segment.
- Net profit witnessed an explosive 689% YoY increase, significantly outperforming historical margin trends which previously hovered in the 4-8% range.
- Operating margins expanded sharply to approximately 16%, a notable reversal from the margin contraction seen in the prior fiscal year.
- The Board declared a 100% interim dividend of ₹2 per equity share for FY2026-27, with a record date set for July 24, 2026.
- The Texol Lubritech-FZC subsidiary continues to be a major contributor, delivering ₹144.54 crore in revenue and ₹27.30 crore in net profit for the quarter.
- The company is altering its Memorandum of Association to include a new clause allowing for active trading and hedging in various financial and commodity derivatives.
- Management underwent a governance update with the appointment of Mr. Shyam Chandrabhan Agrawal as an Independent Director and Chairman of the Risk Management Committee.
Management Guidance
The company has updated its Memorandum of Association to include objects related to hedging and transacting in commodity derivatives and financial instruments, suggesting a move toward more sophisticated risk management of raw material volatility.
Sentiment Shift
Improving
The results mark a dramatic recovery in both profitability and margins compared to the stagnation and ROCE erosion noted in the FY2026 annual commentary.
Outlook
The outlook is highly positive given the sudden acceleration in earnings power. The company's expansion into commodity hedging objects suggests a focused attempt to stabilize margins and mitigate the impact of volatile base oil prices that previously impacted ROE.
From the Annual Report (Key Quotes)
“Board of Directors... has, inter-alia, considered and approved... Declaration of an Interim Dividend of Rs. 2 per Equity Share.”
“The Company is primarily engaged in manufacturing and trading of petroleum products / specialty oils... the company has only one reportable segment.”
“To carry on the business of dealing, investing, trading, buying, selling, hedging... in shares, stocks, securities... and commodity derivatives.”
Official Quarterly Documents
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This summary is AI-generated from Gandhar Oil Refinery (India) Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.