Gandhar Oil Refinery (India) Limited — Investor Meet, 27-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Gandhar Oil Refinery reported consolidated revenue of Rs. 389.7 Cr in FY25, with Q4 revenue at Rs. 96.17 Cr. Volume grew ~3% YoY despite lower realizations of Rs. 76,223/KL. EBITDA stood at Rs. 17.56 Cr (Q4: Rs. 3.36 Cr) and PAT at Rs. 8.35 Cr (Q4: Rs. 1.23 Cr). Exports (~40% of sales) declined due to shipping and geopolitical issues; domestic sales rose to compensate. Management focuses on high-margin PHPO products, with standalone volume +19% YoY in Q4 and ~85% capacity utilization. Freight cost pressures persist but should ease. A Rs. 1,000 Cr terminal at Vadhavan Port is planned for FY30 to boost logistics. Volume growth guidance for FY26 is 10-12%, with margin improvement targeted through product mix and market diversification.