Gandhar Oil Refinery: Promoter Group Increases Stake to 1.59% Through Open Market Acquisition

Gandhar Oil Refinery (India) Ltd has witnessed an increase in promoter group shareholding following an open market acquisition by Gandhar Coals & Mines Private Limited. The transaction, completed on January 30, 2026, represents a strategic move by the promoter group to strengthen their stake in the oil refinery company. Transaction Details Gandhar Coals & Mines Private Limited acquired 40,000 equity shares through open market purchase, representing 0.04% of the total voting capital. The acquisition was disclosed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Transaction Parameter: Details Shares Acquired: 40,000 Acquisition Mode: Open Market Transaction Date: January 30, 2026 Percentage Acquired: 0.04% Shareholding Pattern Changes The acquisition resulted in a marginal increase in the promoter group's overall shareholding in Gandhar Oil Refinery. The transaction demonstrates continued confidence by the promoter group in the company's prospects. Shareholding Details: Before Acquisition After Acquisition Change Number of Shares: 15,35,545 15,75,545 +40,000 Voting Rights (%): 1.55% 1.59% +0.04% Diluted Capital (%): 1.55% 1.59% +0.04% Company Capital Structure Gandhar Oil Refinery's equity share capital structure remained unchanged following the transaction. The company maintains its existing capital base with no dilution from the promoter group's acquisition. Capital Structure: Details Total Equity Capital: Rs. 19,57,59,060 Number of Shares: 9,78,79,530 Face Value per Share: Rs. 2 Share Status: Fully Paid Regulatory Compliance The disclosure was filed in compliance with SEBI regulations governing substantial acquisitions. Gandhar Oil Refinery shares are listed on both BSE Limited and National Stock Exchange of India Limited. The transaction was signed off by Saurabh Ramesh Parekh, Whole Time Director of Gandhar Coals & Mines Private Limited, with DIN: 02907808. The acquisition reflects the promoter group's continued investment in the company while maintaining transparency through proper regulatory disclosures. The open market purchase indicates confidence in the company's operational performance and future growth prospects. Gandhar Oil Refinery (India) Limited conducted its Q3FY26 earnings conference call on January 28, 2026, reporting strong financial performance with consolidated revenue growth of 16% year-on-year. The company's management, led by Joint Managing Director Aslesh Parekh and CFO Indrajit Bhattacharyya, discussed the quarter's results and business outlook during the investor call. Strong Revenue Performance Across Quarters The company delivered robust financial results for the third quarter and nine-month period ended December 31, 2025. Key performance metrics demonstrate sustained growth momentum: Period Revenue (INR Crores) Growth Rate Q3 FY26 1,167 +16% YoY, +10% QoQ 9M FY26 3,130 Stable performance International Sales Share 45% of 9M revenue Consistent contribution Profitability and Operational Metrics The company maintained healthy profitability levels despite market challenges, with EBITDA and profit after tax showing year-on-year improvements: Financial Metric Q3 FY26 Q3 FY25 Q2 FY26 EBITDA INR 59 crores Lower base Higher than Q3FY26 Profit After Tax INR 34 crores INR 20 crores INR 40 crores 9M FY26 PAT INR 100 crores Significant improvement - Manufacturing Gross Margin INR 7,271 per kL - - Diversified Revenue Portfolio Gandhar Oil maintains a well-balanced product mix across its key business segments for the nine-month period: Product Segment Revenue Contribution PHPO (Personal Care/Healthcare) 50.0% Lubricants 26.8% PIO (Petroleum Industrial Oil) 9.5% Other Products Balance Market Outlook and Growth Drivers Management highlighted positive industry trends, with the global white oil market valued at approximately USD 3.6 billion in 2025 and expected to reach USD 4.66 billion by 2034, representing a CAGR of approximately 3%. The Asia Pacific region accounts for over 40% of global white oil consumption, supporting the company's strategic positioning. The company operates with over 4,000 customers and maintains a 75% repeat order rate, demonstrating strong customer relationships. Approximately 35% of business operates under price pass-through mechanisms, helping manage raw material price volatility. Capacity Utilization and Expansion Plans The company currently operates with a total capacity of 6 lakh kiloliters across three plants. The Sharjah facility operates at 70-72% utilization, with management expecting this to reach 90-95% within two to two-and-a-half years as customer accreditation processes complete. Management indicated plans for capacity expansion, with land purchases approved at both Silvassa and Talaja facilities. New capex announcements are expected by the end of the current year or early next year. Financial Health and Working Capital Management The company maintains efficient working capital management with inventory levels of 40-45 days and 80% of products presold. Export operations provide slightly better margins and working capital efficiency due to advance payments and letter of credit arrangements. The cash conversion cycle showed quarter-on-quarter improvement, with receivables maintained around 65-70 days. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. 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