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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹1,093 Cr
verified against source
Revenue YoY
14%
reported change
EBITDA
₹64 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Gandhar Oil Refinery reported a strong Q4 FY26 with consolidated revenue of ₹1,093 crore (+14% YoY) and EBITDA of ₹64 crore, driven by resilient demand in healthcare and personal care segments despite geopolitical disruptions. Full-year revenue reached ₹4,241 crore (+9% YoY) with PAT of ₹137 crore, supported by improved operating cash flows (₹127.77 crore vs ₹14.71 crore) and lower finance costs. Management highlighted stable domestic demand and export tailwinds from rupee depreciation, while navigating Middle East tensions through diversified sourcing and inventory optimization. Capacity utilization stood at 93% overall, with Indian plants at 126% on a two-shift basis. Risks include potential escalation in the Strait of Hormuz impacting raw material supply and margins, though management expressed confidence in maintaining current EBITDA margins around 6%.
Colored figures show movement against the previous available record.
Guidance to track
- Management expressed confidence in sustaining current EBITDA margins of approximately 6% in coming quarters.
- Historically, the company has achieved volume growth of around 10% per year, and management expects this trend to continue.
- The company is drawing up capex plans for the Taloja land for plant expansion, with details expected in the next 2-3 quarters.
Risks flagged
- Escalating tensions in the Middle East could disrupt crude oil supply and increase freight costs, impacting margins.
- The Sharjah plant faced operational challenges due to port closures and raw material sourcing issues, though situation is normalizing.
- EBITDA margin at 5.81% remains below the FY23 peak of 7.8%, with structural levers to close the gap not clearly quantified.
Key quotes
- We anticipate margins to remain healthy in the quarters to come.
- The company has been debt-free... there has been no long-term debt in the company.
- We are confident of maintaining the current EBITDA levels.
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