Gandhar Oil Refinery (India) Limited — Investor Meet, 19-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Gandhar Oil delivered strong Q2 & H1 FY26 results: Q2 revenue at INR 1,059.9 Cr, EBITDA at INR 65.8 Cr (up 43% QoQ), PAT at INR 39.7 Cr (more than doubled YoY). H1 revenue reached INR 1,962.9 Cr, with PAT at INR 65.8 Cr. The PHPO segment drives 49% of H1 revenue, a key focus area. Domestic demand remains robust, mitigating global headwinds. Management is optimistic, foresees 10-12% annual volume growth and continued margin improvement from cost discipline and a better product mix. High capacity utilization and a new BHEL transformer oil contract signal positive momentum. The company is exploring inorganic growth, maintaining a confident outlook for future performance.