Gandhar Oil Refinery (India) Limited — PPTs, 22-05-2025: Investor Presentation

1. Financial Highlights:

Gandhar Oil’s revenue eased to ₹3,896.9 Cr in FY25 from ₹4,113.2 Cr in FY24. Gross profit dropped to ₹427.1 Cr, with EBITDA sharply down to ₹175.6 Cr due to higher raw material and other expenses. PAT declined 49% to ₹83.5 Cr, delivering an EPS of ₹8.2. Manufacturing volumes grew at an 11.6% CAGR over FY21-25, driven by PHPO and lubricants. Total assets stand at ~₹1,959 Cr, with equity at ₹128.9 Cr, while inventory and receivables remained stable.

2. Strategic Initiatives & Growth Drivers:

The focus is on consumer and healthcare sectors, targeting robust domestic demand. Plans include expanding overseas markets—Indonesia, Europe, US—and broadening the PHPO portfolio. Enhancing wallet share with existing customers and increasing contract manufacturing for finished products are key to moving up the value chain.

3. Business Developments:

No new acquisitions. Continued R&D investments at Silvassa and Taloja strengthen custom product capabilities. Operating three manufacturing sites across India and UAE supports global supply needs.

4. Market Position & Competitive Advantage:

Gandhar is India’s largest white oil manufacturer and ranks among the global top five, holding 26.5% domestic and 9.6% global market share. Key clients include P&G, Unilever, and Marico. Overseas sales exceed 40% of revenue. Strong supplier ties and ICIS-linked pricing contracts limit commodity risk. Scale, quality standards, and an extensive distribution network form robust barriers to entry.

5. Investor Implications:

Pressure on margins and profits in FY25 contrasts with solid growth potential from consumer-healthcare focus and international expansion. Execution on product diversification, geographic reach, and cost control will be critical. The diversified client base and resilient model offer steady long-term outlook.