India's Richest People 2026 edition · 1 director · Source: Hurun India
- #1,277 Ramesh Babulal Parekh & family ₹1,800 Cr
Market Cap
₹2,488 Cr
GANDHAR · NSE
Share Price
₹251.48
-1.07% today
Revenue
₹4,241 Cr
FY 2025-26 · +8.8% YoY
EBITDA
₹237 Cr
Margin 5.6%
Net Profit
₹136 Cr
FY 2025-26 · +69.3% YoY
P/E (TTM)
5.8x
P/B 1.6x
ROE
10.6%
ROCE 13.7%
Debt / Equity
0.24
Interest cover 19.2x
About Gandhar Oil Refinery (India) Limited
Data last updated:
Gandhar Oil Refinery (India) Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the coke and refined petroleum products segment of the oil and gas sector. It was incorporated on 07 October 1992 and has been in existence for over 34 years.
Its director Ramesh Babulal Parekh and family are #1,277 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L23200MH1992PLC068905. Its GSTIN is 27AAACG3996J1Z6 (Maharashtra). The company holds 30 GST registrations, of which 19 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 544029 and NSE: GANDHAR.
The company has an authorised share capital of ₹30 Cr and a paid-up capital of ₹19.58 Cr. It was formerly known as Gandhar Oil Refinery (India) Private Limited. It is led by directors including Samir Ramesh Parekh (Managing Director) and Aslesh Rameshkumar Parekh (Managing Director).
Its last annual general meeting (AGM) was held on 11 September 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Dlh Park 18th Floor S. V. Road Goregaon (West), Mumbai, Maharashtra, India – 400062.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹4,241.18 Cr, a growth of 8.8% compared to the previous year. For the same year it recorded a net profit of ₹135.62 Cr (net margin 3.2%) and EBITDA of ₹236.54 Cr (EBITDA margin 5.6%). The net worth stands at ₹1,352.38 Cr (up 9.4% YoY). Total assets are valued at ₹1,721.14 Cr (up 7.6% YoY).
The company has about 322 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Gandhar Oil. As per MCA filings, the company has open charges of ₹1,049.6 Cr and satisfied charges of ₹1,896.7 Cr on record. Court records list 188 cases involving the company, including 133 filed by the company and 55 filed against it; 53 cases are pending. The company has 25 deals on record (24 market trades, 1 ipo); the latest was in August 2026. The company has 16 MSME Form 1 returns on record between 2019 and 2024, listing 535 overdue payments to 23 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website gandharoil.com.
Company details
CIN L23200MH1992PLC068905
Registration Number 068905
Incorporation Date 07 October 1992
ROC Mumbai
Listing Status Listed - Listed on NSE (GANDHAR); Listed on BSE (544029)
Company Status Active
Date of Last AGM 11 September 2026
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
CIN history
Gandhar Oil Refinery (India) has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L23200MH1992PLC068905, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L23200MH1992PLC068905 | Current |
| U23200MH1992PLC068905 | Previous |
| U23200MH1992PTC068905 | Previous |
Key People
Samir Ramesh Parekh Managing Director Aslesh Rameshkumar Parekh Managing Director Jatin Suresh Dhamani Whole-Time Director Recognitions & Rankings of Gandhar Oil Refinery (India)
Contact details
Gandhar Oil Refinery (India) Limited's registered office is in Mumbai, Maharashtra.
- Social Media
- Registered AddressDlh Park 18th Floor S. V. Road Goregaon (West), Mumbai, Maharashtra, India – 400062
- IndustryOil & Gas, Coke & Refined Petroleum Products
Comprehensive company report
Gandhar Oil Refinery (India) Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Gandhar Oil Refinery (India) operates one associated brand: Gandhar Oil. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| White oils are manufactured for pharmaceuticals, healthcare, and insulation uses. | gandharoil.com |
Business activity
The main business activities of Gandhar Oil Refinery (India) are manufacturing and trade. In detail, this covers coke and refined petroleum products and wholesale trading. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C5 | Coke and refined petroleum products | |
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Gandhar Oil Refinery (India) Limited, buy the company report.
Financials of Gandhar Oil Refinery (India) Limited
FY 2025-26 filings availableGandhar Oil Refinery (India) Limited reported revenue of ₹4,241.18 Cr (up 8.8% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹4,241 Cr
+8.8% YoY
EBITDA
₹237 Cr
+34.1% YoY
Profit After Tax
₹136 Cr
+69.3% YoY
Net Worth
₹1,352 Cr
+9.4% YoY
Total Assets
₹1,721 Cr
+7.6% YoY
Total Debt
₹315 Cr
+3.4% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 4,241 | 3,897 | 4,113 | 4,079 | 3,543 | 2,221 | 2,504 |
| Revenue growth | +8.8% | -5.3% | +0.8% | +15.1% | +59.5% | -11.3% | - |
| EBITDA | 237 | 176 | 280 | 317 | 247 | 140 | 60.07 |
| EBITDA margin | +5.6% | +4.5% | +6.8% | +7.8% | +7.0% | +6.3% | +2.4% |
| Profit before tax | 181 | 114 | 210 | 272 | 225 | 120 | 12.90 |
| Net profit | 136 | 80.09 | 141 | 191 | 143 | 100 | 9.86 |
| Net profit margin | +3.2% | +2.1% | +3.4% | +4.7% | +4.0% | +4.5% | +0.4% |
| EPS (₹) | 13.83 | 8.18 | 14.36 | 23.86 | 18.42 | 12.54 | 6.16 |
| Balance sheet | |||||||
| Total assets | 1,721 | 1,599 | 1,499 | 1,002 | 754 | 538 | 494 |
| Net worth | 1,352 | 1,236 | 1,172 | 743 | 541 | 445 | 346 |
| Total debt | 315 | 305 | 271 | 220 | 191 | 90.38 | 146 |
| Cash & bank | 132 | 152 | 277 | 108 | 183 | 121 | 100 |
| Net working capital | 1,175 | 1,136 | 1,113 | 625 | 497 | 412 | 378 |
| Cash flow | |||||||
| Cash from operations | 128 | 14.72 | (69.34) | 87.93 | 167 | 118 | 70.39 |
| Cash from investing | (62.15) | (48.10) | (65.92) | (72.19) | (116) | (22.36) | (23.52) |
| Cash from financing | (88.05) | 12.54 | 160 | (28.57) | (4.13) | (91.09) | (44.53) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,847 | 1,732 | 1,093 | 1,167 | 1,068 | 903 | 962 | 1,005 |
| Revenue growth (YoY) | +72.9% | +91.8% | +13.7% | +16.1% | +14.2% | -9.2% | - | - |
| Other income | 2.98 | 3.02 | 4.20 | 3.58 | 3.06 | 2.69 | 3.54 | 2.14 |
| EBITDA | 266 | 281 | 63.55 | 59.12 | 65.84 | 45.96 | 33.58 | 41.57 |
| EBITDA margin | +14.4% | +16.2% | +5.8% | +5.1% | +6.2% | +5.1% | +3.5% | +4.1% |
| Depreciation | 8.03 | 7.84 | 7.66 | 7.46 | 7.49 | 7.26 | 6.84 | 6.33 |
| Interest | 13.25 | 12.74 | 7.61 | 10.10 | 10.27 | 9.61 | 13.51 | 10.50 |
| Profit before tax | 248 | 264 | 52.48 | 45.14 | 51.14 | 31.78 | 16.77 | 26.88 |
| Tax | 61.81 | 57.87 | 15.43 | 10.81 | 11.37 | 5.69 | 4.48 | 6.46 |
| Net profit | 186 | 206 | 37.05 | 34.33 | 39.77 | 26.09 | 12.29 | 20.42 |
| EPS (₹) | 17.87 | 19.65 | 4.16 | 3.31 | 3.68 | 2.68 | 1.19 | 1.98 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 3,423 | 3,160 | 2,842 | 2,921 | 2,925 | 1,984 | 2,366 |
| Revenue growth | +8.3% | +11.2% | -2.7% | -0.1% | +47.4% | -16.1% | - |
| EBITDA | 208 | 146 | 201 | 253 | 229 | 111 | 62.16 |
| EBITDA margin | +6.1% | +4.6% | +7.1% | +8.7% | +7.8% | +5.6% | +2.6% |
| Profit before tax | 181 | 105 | 164 | 227 | 258 | 71.25 | 20.53 |
| Net profit | 138 | 75.34 | 119 | 170 | 192 | 51.19 | 17.54 |
| Net profit margin | +4.0% | +2.4% | +4.2% | +5.8% | +6.6% | +2.6% | +0.7% |
| EPS (₹) | 14.14 | 7.69 | 12.13 | 21.19 | 24.58 | 32.08 | 11.14 |
| Balance sheet | |||||||
| Total assets | 1,393 | 1,268 | 1,179 | 742 | 582 | 465 | 452 |
| Net worth | 1,300 | 1,174 | 1,112 | 704 | 534 | 383 | 332 |
| Total debt | 88.10 | 89.96 | 63.54 | 35.24 | 43.00 | 78.94 | 118 |
| Cash & bank | 87.89 | 116 | 235 | 40.84 | 139 | 106 | 84.92 |
| Net working capital | 945 | 882 | 867 | 475 | 413 | 327 | 316 |
| Cash flow | |||||||
| Cash from operations | 79.50 | (5.73) | (83.49) | 52.43 | 117 | 102 | 22.25 |
| Cash from investing | (61.17) | (42.56) | (29.45) | (39.60) | 26.89 | (6.03) | 3.37 |
| Cash from financing | (54.04) | 35.89 | 163 | (48.34) | (115) | (91.19) | (25.34) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,730 | 1,591 | 929 | 923 | 815 | 745 | 752 | 857 |
| Revenue growth (YoY) | +112.1% | +113.4% | +23.6% | +7.7% | +7.1% | -5.7% | - | - |
| Other income | 3.58 | 3.42 | 5.43 | 9.28 | 3.52 | 3.20 | 3.85 | 2.72 |
| Total expenses | 1,491 | 1,342 | 864 | 873 | 763 | 705 | 725 | 823 |
| EBITDA | 239 | 249 | 65.65 | 49.17 | 52.19 | 40.66 | 26.42 | 33.52 |
| EBITDA margin | +13.8% | +15.7% | +7.1% | +5.3% | +6.4% | +5.5% | +3.5% | +3.9% |
| Depreciation | 6.63 | 6.43 | 6.29 | 6.14 | 6.15 | 6.08 | 6.55 | 5.06 |
| Interest | 10.76 | 9.90 | 5.25 | 6.28 | 6.03 | 5.96 | 9.14 | 7.27 |
| Profit before tax | 225 | 236 | 59.54 | 46.03 | 43.53 | 31.82 | 14.58 | 23.91 |
| Tax | 61.73 | 57.54 | 15.42 | 10.23 | 11.31 | 5.60 | 4.06 | 6.40 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 06 Nov 2026
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,847 | 1,732 | 1,093 | 1,167 | 1,068 | 903 | 962 | 1,005 |
| Revenue growth (YoY) | +72.9% | +91.8% | +13.7% | +16.1% | +14.2% | -9.2% | - | - |
| Other income | 2.98 | 3.02 | 4.20 | 3.58 | 3.06 | 2.69 | 3.54 | 2.14 |
| EBITDA | 266 | 281 | 63.55 | 59.12 | 65.84 | 45.96 | 33.58 | 41.57 |
| EBITDA margin | +14.4% | +16.2% | +5.8% | +5.1% | +6.2% | +5.1% | +3.5% | +4.1% |
| Depreciation | 8.03 | 7.84 | 7.66 | 7.46 | 7.49 | 7.26 | 6.84 | 6.33 |
| Interest | 13.25 | 12.74 | 7.61 | 10.10 | 10.27 | 9.61 | 13.51 | 10.50 |
| Profit before tax | 248 | 264 | 52.48 | 45.14 | 51.14 | 31.78 | 16.77 | 26.88 |
| Tax | 61.81 | 57.87 | 15.43 | 10.81 | 11.37 | 5.69 | 4.48 | 6.46 |
| Net profit | 186 | 206 | 37.05 | 34.33 | 39.77 | 26.09 | 12.29 | 20.42 |
| EPS (₹) | 17.87 | 19.65 | 4.16 | 3.31 | 3.68 | 2.68 | 1.19 | 1.98 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 4,241 | 3,897 | 4,113 | 4,079 | 3,543 | 2,221 | 2,504 |
| Revenue growth | +8.8% | -5.3% | +0.8% | +15.1% | +59.5% | -11.3% | - |
| Other income | 13.53 | 13.00 | 9.89 | 23.99 | 26.10 | 28.70 | 13.06 |
| Total expenses | 4,005 | 3,721 | 3,834 | 3,762 | 3,297 | 2,081 | 2,444 |
| Employee cost | 59.50 | 53.13 | 56.74 | 52.39 | 36.61 | 23.82 | 24.23 |
| EBITDA | 237 | 176 | 280 | 317 | 247 | 140 | 60.07 |
| EBITDA margin | +5.6% | +4.5% | +6.8% | +7.8% | +7.0% | +6.3% | +2.4% |
| Depreciation | 29.87 | 25.90 | 20.13 | 16.79 | 15.10 | 11.42 | 10.56 |
| Interest | 39.66 | 49.25 | 59.18 | 52.30 | 32.60 | 36.67 | 49.67 |
| Profit before tax | 181 | 114 | 210 | 272 | 225 | 120 | 12.90 |
| Tax | 43.29 | 30.73 | 44.99 | 57.93 | 61.65 | 19.95 | 3.04 |
| Net profit | 136 | 80.09 | 141 | 191 | 143 | 100 | 9.86 |
| Net profit margin | +3.2% | +2.1% | +3.4% | +4.7% | +4.0% | +4.5% | +0.4% |
| EPS (₹) | 13.83 | 8.18 | 14.36 | 23.86 | 18.42 | 12.54 | 6.16 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 19.58 | 19.58 | 19.57 | 16.00 | 16.00 | 16.00 | 16.00 |
| Reserves & surplus | 1,333 | 1,217 | 1,153 | 727 | 525 | 429 | 330 |
| Shareholders' funds (net worth) | 1,352 | 1,236 | 1,172 | 743 | 541 | 445 | 346 |
| Minority interest | 47.24 | 52.83 | 51.40 | 34.91 | 19.58 | 0.00 | 0.00 |
| Secured loans | 137 | 153 | 203 | 111 | 104 | 68.37 | 99.40 |
| Unsecured loans | 178 | 151 | 67.85 | 109 | 86.69 | 22.01 | 46.29 |
| Total debt | 315 | 305 | 271 | 220 | 191 | 90.38 | 146 |
| Total liabilities | 1,721 | 1,599 | 1,499 | 1,002 | 754 | 538 | 494 |
| Assets | |||||||
| Gross block | 633 | 555 | 445 | 315 | 254 | 134 | 132 |
| Net block | 498 | 450 | 361 | 238 | 190 | 87.65 | 96.53 |
| Capital work in progress | 28.95 | 7.65 | 8.58 | 72.67 | 44.01 | 21.57 | 12.43 |
| Investments | 3.23 | 0.30 | 0.24 | 0.16 | 0.17 | 7.28 | 0.04 |
| Inventories | 644 | 463 | 448 | 451 | 326 | 199 | 185 |
| Sundry debtors | 721 | 670 | 623 | 562 | 442 | 514 | 440 |
| Cash & bank balances | 132 | 152 | 277 | 108 | 183 | 121 | 100 |
| Loans & advances | 176 | 204 | 204 | 134 | 111 | 141 | 166 |
| Total current assets | 1,673 | 1,489 | 1,552 | 1,255 | 1,062 | 975 | 892 |
| Total current liabilities | 498 | 354 | 439 | 630 | 564 | 563 | 514 |
| Net working capital | 1,175 | 1,136 | 1,113 | 625 | 497 | 412 | 378 |
| Total assets | 1,721 | 1,599 | 1,499 | 1,002 | 754 | 538 | 494 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 50.59 | 71.43 | 46.85 | 59.68 | 13.11 | 8.50 | 6.16 |
| Net cash from operating activities | 128 | 14.72 | (69.34) | 87.93 | 167 | 118 | 70.39 |
| Net cash from investing activities | (62.15) | (48.10) | (65.92) | (72.19) | (116) | (22.36) | (23.52) |
| Net cash from financing activities | (88.05) | 12.54 | 160 | (28.57) | (4.13) | (91.09) | (44.53) |
| Net change in cash | (22.43) | (20.84) | 24.58 | (12.83) | 46.57 | 4.61 | 2.34 |
| Closing cash | 132 | 152 | 277 | 108 | 183 | 121 | 100 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +8.8% | -5.3% | +0.8% | +15.1% | +59.5% | -11.3% | - |
| EBITDA growth | +34.1% | -36.9% | -11.8% | +28.4% | +76.8% | +132.5% | - |
| PBT growth | +58.0% | -45.7% | -22.7% | +20.7% | +87.3% | +832.3% | -51.5% |
| Net income growth | +69.3% | -43.1% | -26.3% | +33.4% | +42.9% | +915.5% | - |
| Revenue CAGR (3Y) | +1.3% | +3.2% | +22.8% | +17.7% | -0.2% | +0.8% | +12.6% |
| EBITDA CAGR (3Y) | -9.3% | -10.6% | +26.1% | +74.1% | +64.5% | +3.3% | -7.4% |
| Profitability & leverage | |||||||
| Net income margin | +3.2% | +2.1% | +4.0% | +5.2% | +4.6% | +4.5% | +0.4% |
| Return on capital employed | +13.7% | +10.9% | +22.3% | +38.1% | +40.5% | +30.4% | +12.6% |
| Return on net worth | +10.6% | +6.9% | +17.3% | +33.3% | +33.2% | +25.4% | +2.7% |
| Debt / equity | 0.24 | 0.24 | 0.26 | 0.32 | 0.29 | 0.30 | 0.36 |
| Long-term debt / equity | 0.12 | 0.10 | 0.08 | 0.10 | 0.09 | 0.07 | 0.04 |
| Interest cover | 19.19 | 32.72 | 22.80 | 17.42 | 14.07 | 28.60 | 100.32 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 7.14 | 7.79 | 10.82 | 14.32 | 18.26 | 16.74 | 19.58 |
| Inventory turnover | 7.66 | 8.56 | 9.15 | 10.51 | 13.52 | 11.58 | 11.44 |
| Debtors turnover | 6.10 | 6.02 | 6.94 | 8.13 | 7.41 | 4.65 | 4.75 |
| EPS (₹) | 13.83 | 8.18 | 14.36 | 23.86 | 18.42 | 12.54 | 6.16 |
| Dividend per share (₹) | 0.75 | 0.50 | 0.50 | 0.50 | 0.00 | 0.00 | 4.50 |
| Book value per share (₹) | 138.14 | 126.26 | 119.77 | 92.93 | 67.64 | 55.60 | 216.25 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,730 | 1,591 | 929 | 923 | 815 | 745 | 752 | 857 |
| Revenue growth (YoY) | +112.1% | +113.4% | +23.6% | +7.7% | +7.1% | -5.7% | - | - |
| Other income | 3.58 | 3.42 | 5.43 | 9.28 | 3.52 | 3.20 | 3.85 | 2.72 |
| Total expenses | 1,491 | 1,342 | 864 | 873 | 763 | 705 | 725 | 823 |
| EBITDA | 239 | 249 | 65.65 | 49.17 | 52.19 | 40.66 | 26.42 | 33.52 |
| EBITDA margin | +13.8% | +15.7% | +7.1% | +5.3% | +6.4% | +5.5% | +3.5% | +3.9% |
| Depreciation | 6.63 | 6.43 | 6.29 | 6.14 | 6.15 | 6.08 | 6.55 | 5.06 |
| Interest | 10.76 | 9.90 | 5.25 | 6.28 | 6.03 | 5.96 | 9.14 | 7.27 |
| Profit before tax | 225 | 236 | 59.54 | 46.03 | 43.53 | 31.82 | 14.58 | 23.91 |
| Tax | 61.73 | 57.54 | 15.42 | 10.23 | 11.31 | 5.60 | 4.06 | 6.40 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 3,423 | 3,160 | 2,842 | 2,921 | 2,925 | 1,984 | 2,366 |
| Revenue growth | +8.3% | +11.2% | -2.7% | -0.1% | +47.4% | -16.1% | - |
| Other income | 21.44 | 14.85 | 17.18 | 25.49 | 65.63 | 6.85 | 15.82 |
| Total expenses | 3,214 | 3,014 | 2,641 | 2,668 | 2,696 | 1,873 | 2,304 |
| Employee cost | 43.45 | 37.14 | 39.95 | 38.53 | 27.72 | 23.33 | 21.51 |
| EBITDA | 208 | 146 | 201 | 253 | 229 | 111 | 62.16 |
| EBITDA margin | +6.1% | +4.6% | +7.1% | +8.7% | +7.8% | +5.6% | +2.6% |
| Depreciation | 24.66 | 21.82 | 15.42 | 12.70 | 11.74 | 11.68 | 10.77 |
| Interest | 24.25 | 33.96 | 39.09 | 38.56 | 24.50 | 35.07 | 46.68 |
| Profit before tax | 181 | 105 | 164 | 227 | 258 | 71.25 | 20.53 |
| Tax | 42.54 | 30.16 | 44.91 | 57.77 | 61.61 | 19.93 | 2.72 |
| Net profit | 138 | 75.34 | 119 | 170 | 192 | 51.19 | 17.54 |
| Net profit margin | +4.0% | +2.4% | +4.2% | +5.8% | +6.6% | +2.6% | +0.7% |
| EPS (₹) | 14.14 | 7.69 | 12.13 | 21.19 | 24.58 | 32.08 | 11.14 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 19.58 | 19.58 | 19.57 | 16.00 | 16.00 | 16.00 | 16.00 |
| Reserves & surplus | 1,281 | 1,154 | 1,093 | 688 | 518 | 367 | 316 |
| Shareholders' funds (net worth) | 1,300 | 1,174 | 1,112 | 704 | 534 | 383 | 332 |
| Secured loans | 0.00 | 0.00 | 27.47 | 16.03 | 43.00 | 56.93 | 71.59 |
| Unsecured loans | 88.10 | 89.96 | 36.07 | 19.21 | 0.00 | 22.01 | 46.29 |
| Total debt | 88.10 | 89.96 | 63.54 | 35.24 | 43.00 | 78.94 | 118 |
| Total liabilities | 1,393 | 1,268 | 1,179 | 742 | 582 | 465 | 452 |
| Assets | |||||||
| Gross block | 471 | 417 | 310 | 191 | 159 | 152 | 149 |
| Net block | 363 | 333 | 244 | 126 | 101 | 105 | 114 |
| Capital work in progress | 28.63 | 7.53 | 8.13 | 72.53 | 43.48 | 21.57 | 12.43 |
| Investments | 6.18 | 3.35 | 2.19 | 2.11 | 2.11 | 2.22 | 2.09 |
| Inventories | 528 | 344 | 280 | 278 | 258 | 199 | 185 |
| Sundry debtors | 631 | 548 | 532 | 463 | 419 | 475 | 417 |
| Cash & bank balances | 87.89 | 116 | 235 | 40.84 | 139 | 106 | 84.92 |
| Loans & advances | 160 | 187 | 191 | 122 | 106 | 90.36 | 130 |
| Total current assets | 1,408 | 1,196 | 1,238 | 904 | 922 | 870 | 817 |
| Total current liabilities | 463 | 314 | 371 | 429 | 509 | 543 | 501 |
| Net working capital | 945 | 882 | 867 | 475 | 413 | 327 | 316 |
| Total assets | 1,393 | 1,268 | 1,179 | 742 | 582 | 465 | 452 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 40.16 | 52.56 | 2.51 | 38.02 | 8.50 | 3.95 | 3.67 |
| Net cash from operating activities | 79.50 | (5.73) | (83.49) | 52.43 | 117 | 102 | 22.25 |
| Net cash from investing activities | (61.17) | (42.56) | (29.45) | (39.60) | 26.89 | (6.03) | 3.37 |
| Net cash from financing activities | (54.04) | 35.89 | 163 | (48.34) | (115) | (91.19) | (25.34) |
| Net change in cash | (35.71) | (12.40) | 50.05 | (35.52) | 29.53 | 4.55 | 0.28 |
| Closing cash | 87.89 | 116 | 235 | 40.84 | 139 | 106 | 84.92 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +8.3% | +11.2% | -2.7% | -0.1% | +47.4% | -16.1% | - |
| EBITDA growth | +42.4% | -27.2% | -20.6% | +10.6% | +105.9% | +78.8% | - |
| PBT growth | +71.6% | -35.6% | -28.0% | -12.0% | +262.4% | +247.1% | +9998.0% |
| Net income growth | +83.7% | -36.7% | -29.9% | -11.7% | +275.3% | +191.9% | - |
| Revenue CAGR (3Y) | +5.4% | +2.6% | +12.7% | +7.3% | -1.1% | -5.7% | - |
| EBITDA CAGR (3Y) | -6.3% | -13.8% | +21.8% | +59.7% | +595.5% | -2.8% | - |
| Profitability & leverage | |||||||
| Net income margin | +4.0% | +2.4% | +4.2% | +5.8% | +6.7% | +2.6% | +0.8% |
| Return on capital employed | +15.4% | +11.4% | +21.1% | +40.2% | +54.0% | +23.2% | +15.6% |
| Return on net worth | +11.2% | +6.6% | +13.1% | +27.4% | +42.9% | +14.4% | +5.5% |
| Debt / equity | 0.07 | 0.07 | 0.05 | 0.06 | 0.13 | 0.28 | 0.31 |
| Long-term debt / equity | 0.07 | 0.05 | 0.03 | 0.02 | 0.03 | 0.07 | 0.05 |
| Interest cover | 13.20 | 27.26 | 21.07 | 16.04 | 11.29 | 35.26 | 90.83 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 7.71 | 8.70 | 11.35 | 16.73 | 18.86 | 13.20 | 17.44 |
| Inventory turnover | 7.85 | 10.12 | 10.18 | 10.89 | 12.81 | 10.35 | 10.81 |
| Debtors turnover | 5.80 | 5.85 | 5.71 | 6.62 | 6.54 | 4.45 | 5.07 |
| EPS (₹) | 14.14 | 7.69 | 12.13 | 21.19 | 24.58 | 32.08 | 11.14 |
| Dividend per share (₹) | 0.75 | 0.50 | 0.50 | 0.50 | 0.00 | 1.00 | 4.50 |
| Book value per share (₹) | 132.82 | 119.87 | 113.65 | 87.97 | 66.76 | 239.38 | 207.24 |
To see the full year-wise statements and ratios of Gandhar Oil Refinery (India) Limited, buy the company report.
Board of directors of Gandhar Oil Refinery (India) Limited
Gandhar Oil Refinery (India) has 8 current directors and 18 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ramesh Babulal Parekh | Director | 03 Sep 2013 | 13 Years 2 Months | Current |
| Amrita D C Nautiyal Also directs: Cipla Health Limited, Matix Fertilisers and Chemicals Limited, Jay Precision Pharmaceuticals Private Limited and 5 more | Director | 17 Aug 2020 | 6 Years 2 Months | Current |
| Raj Kishore Singh Also directs: Aegis Vopak Terminals Limited, Aegis Logistics Limited, Essar Oilchem Limited and 4 more | Director | 28 Jun 2019 | 7 Years 4 Months | Current |
| Samir Ramesh Parekh Also directs: Gandhar Shipping and Logistics Private Limited, Gandhar Foundation, Gandhar Lifesciences Private Limited and 3 more | Managing Director | 01 Apr 2008 | 18 Years 7 Months | Current |
| Aslesh Rameshkumar Parekh | Managing Director | 01 Apr 2008 | 18 Years 7 Months | Current |
| Santokh Singh Sandhu | Director | 26 May 2026 | 0 Years 5 Months | Current |
Showing 6 of 8 current directors. View all directors
Charges & borrowings
Open charges
₹1,049.6 Cr
Satisfied charges
₹1,896.7 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 06 Jun 2022 | 100583782 | Others | ₹35 Cr | Open | |
| 10 Dec 2021 | 100519421 | Hdfc Bank Limited | ₹59.75 Lakh | Open | |
| 29 Jul 2010 | 10234011 | Others | ₹1,014 Cr | Open | |
| 27 Apr 2023 | 100717642 | Others | ₹70 Cr | Satisfied | |
| 18 Mar 2023 | 100704510 | Axis Bank Limited | ₹1.86 Cr | Satisfied |
To see the full charge records of Gandhar Oil Refinery (India) Limited, buy the company report.
Total charge records: 50 View all charges
Deals & funding
Gandhar Oil Refinery (India) Limited has 25 deals on record (24 market trades, 1 ipo); the latest was in August 2026.
Total deals
25
Market trades
24
IPO
1
Deals on record (5 of 25)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2026 | Market trade | ₹14.12 Cr | Buyer: Hrti Private Limited Seller: Hrti Private Limited |
| Jul 2026 | Market trade | ₹16.27 Cr | Buyer: Hrti Private Limited Seller: Hrti Private Limited |
| Jul 2026 | Market trade | ₹12.74 Cr | Buyer: Hrti Private Limited Seller: Hrti Private Limited |
| Jul 2026 | Market trade | ₹11.77 Cr | Buyer: Hrti Private Limited Seller: Hrti Private Limited |
| Jul 2026 | Market trade | ₹64.89 Cr | Buyer: Hrti Private Limited , Qe Securities LLP , Junomoneta Finsol Private Limited Seller: Hrti Private Limited , Qe Securities LLP , Junomoneta Finsol Private Limited , an individual |
To see the full deal history of Gandhar Oil Refinery (India) Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Gandhar Oil Refinery (India) Limited has 188 court cases on record: 133 filed by Gandhar Oil Refinery (India), 55 filed against it. 53 cases are pending and 135 are disposed.
Total cases
188
Filed by the company
133
Filed against the company
55
Pending
53
Disposed
135
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 103 | 12 | 36 |
| High courts | 71 | 39 | 14 |
| NCLT | 5 | 0 | 0 |
| NCLAT | 5 | 1 | 3 |
| Supreme Court | 4 | 3 | 0 |
Cases on record (5 of 188)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (2406-Indirect Taxation : Goods and Services Tax, Integrated Goods and Services Tax, State Goods and Services Tax, UT Goods and Services Tax.) | Filed against the company by Union of India and 161 others | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Case) | Filed by the company against Vector Transformers Limited Liability Partnership | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Case) | Filed by the company against Accord Electropower Private Limited | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Cases) | Filed by the company against Novus Electrotech Limited | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Case) | Filed by the company against Dausa Transformer Udhyog Pvt Ltd | Pending |
To see the full case history of Gandhar Oil Refinery (India) Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Gandhar Oil Refinery (India) Limited has 16 MSME Form 1 returns on record between 2019 and 2024, listing 535 overdue payments to 23 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 23)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Sun Packaging | |||
| an individual supplier | |||
| an individual supplier | |||
| Myg Engineering Services | |||
| Harlem Polycontainers Private Limited |
To see the full MSME payment records of Gandhar Oil Refinery (India) Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
GST
Gandhar Oil Refinery (India) has 30 GST registrations: 19 active and 11 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
30
Active
19
Cancelled / inactive
11
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACG3996J1Z6 | Maharashtra | Active | 01 Jul 2017 |
| 27AAACG3996J2Z5 | Maharashtra | Active | 23 Aug 2017 |
| 06AAACG3996J1ZA | Haryana | Active | 01 Jul 2017 |
| 18AAACG3996J1Z5 | Assam | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Gandhar Oil Refinery (India) Limited, buy the company report.
Recent activity
Gandhar Oil Refinery (India) Limited has 25 board changes on record since 2008: 8 appointments and 17 cessations. The latest: Shyam Chandrabhan Agrawal was appointed as Director on 22 Jul 2026.
AGM
Gandhar Oil Refinery (India) Limited last Annual general meeting of members was held on 11 Sep 2026 as per latest MCA records.
Appointed
Shyam Chandrabhan Agrawal was appointed as Director.
Appointed
Jatin Suresh Dhamani was appointed as Whole-Time Director.
Appointed
Santokh Singh Sandhu was appointed as Director.
Filing
Gandhar Oil Refinery (India) Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai I.
Charges
A charge registered on 31 Jul 2019 via Charge ID 100279821 with Hdfc Bank Limited was fully satisfied on 21 Jun 2025.
Charges
A charge registered on 12 Apr 2021 via Charge ID 100465511 with Axis Bank Limited was fully satisfied on 29 May 2025.
Charges
A charge registered on 11 Jan 2023 via Charge ID 100675440 with Others was fully satisfied on 27 May 2025.
Charges
A charge registered on 23 Feb 2022 via Charge ID 100548422 with Others was fully satisfied on 27 May 2025.
Charges
A charge registered on 18 Feb 2018 via Charge ID 100169809 with Hdfc Bank Limited was fully satisfied on 31 Dec 2024.
Charges
A charge registered on 15 Sep 2017 via Charge ID 100125889 with Hdfc Bank Limited was fully satisfied on 31 Dec 2024.
Charges
A charge registered on 27 Apr 2023 via Charge ID 100717642 with Others was fully satisfied on 21 Dec 2024.
124 earlier events are in the company report.
News
GANDHAR: Q2 REVENUE 18.47B RUPEES VS 17.3B (QOQ)
GANDHAR: Q2 CONS NET PROFIT 1.75B RUPEES VS 1.92B (QOQ)
GANDHAR: Q2 EBITDA 2.87B RUPEES VS 2.8B (QOQ); Q2 EBITDA MARGIN 15.56% VS 16.27% (QOQ)
Frequently asked questions
Gandhar Oil Refinery (India) is an active public limited company based in Mumbai, Maharashtra, India. The company works in coke and refined petroleum products, within the oil and gas industry. It was incorporated on 07 October 1992 (34+ years old) and is registered under CIN L23200MH1992PLC068905. Listed on BSE: 544029 and NSE: GANDHAR.
Gandhar Oil Refinery (India) reported revenue of ₹4,241.18 Cr for FY 2025-26 (up 8.8% YoY) based on consolidated financials.
Gandhar Oil Refinery (India) has 8 current directors:
- Samir Ramesh Parekh - Managing Director
- Aslesh Rameshkumar Parekh - Managing Director
- Jatin Suresh Dhamani - Whole-Time Director
- Ramesh Babulal Parekh - Director
- Amrita D C Nautiyal - Director
- Raj Kishore Singh - Director
- Santokh Singh Sandhu - Director
- Shyam Chandrabhan Agrawal - Director
The latest financial statements of Gandhar Oil Refinery (India) on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 11 September 2026. Year-wise statements from 2015 are in the company report.
The GSTIN of Gandhar Oil Refinery (India) is 27AAACG3996J1Z6, registered in Maharashtra. The company has 30 GST registrations in all, of which 19 are active and 11 are cancelled or inactive. Other active GSTINs include 27AAACG3996J2Z5 (Maharashtra), 06AAACG3996J1ZA (Haryana), 18AAACG3996J1Z5 (Assam).
The CIN (Corporate Identification Number) of Gandhar Oil Refinery (India) is L23200MH1992PLC068905. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Gandhar Oil Refinery (India) is a listed company as per MCA records. Its shares are listed on both BSE (code: 544029) and NSE (symbol: GANDHAR).
Gandhar Oil Refinery (India) has 188 court cases on record: 133 filed by the company and 55 filed against it. 53 are pending. Most are in the district courts.
Gandhar Oil Refinery (India) was incorporated on 07 October 1992, making it 34+ years old. It is registered with the Registrar of Companies, Mumbai.
Gandhar Oil Refinery (India) has 25 deals on record (24 market trades, 1 ipo); the latest was in August 2026.
Shyam Chandrabhan Agrawal was appointed as Director on 22 Jul 2026. Jatin Suresh Dhamani was appointed as Whole-Time Director on 26 May 2026. Santokh Singh Sandhu was appointed as Director on 26 May 2026. Gandhar Oil Refinery (India) has 25 board changes on record in total.
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