Gandhar Oil Refinery (India) Limited — Investor Meet, 02-06-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Gandhar Oil Refinery reported Q4 FY26 consolidated revenue of INR 1,093 Cr (+14% YoY) and full-year revenue of INR 4,241 Cr (+10% YoY). PAT for Q4 was INR 37 Cr and INR 137 Cr for FY26, a strong improvement. Operating cash flow significantly increased to INR 127.77 Cr. The company is navigating geopolitical volatility, especially Red Sea disruptions, through diversified sourcing (reducing Middle East dependence to 20-22%), prudent inventory (40-45 days), and price pass-throughs. Focus remains on high-margin PHPO segment (50% of revenue), global expansion, and operational efficiency, including reducing finance costs. Capacity utilization in Indian plants is high (~125%). Management aims to sustain current healthy EBITDA margins (~6%) and sees growth opportunities in Asia Pacific and Africa.