Gandhar Oil Q4 profit zooms nearly 3x on 89% EBITDA growth; revenue up 14%

Gandhar Oil Refinery India Ltd on Tuesday (May 26) reported a massive rise in Q4 net profit, surging 248% year-on-year to ₹40.7 crore compared with ₹11.7 crore in the same period last year.

Revenue increased 13.7% year-on-year to ₹1,093.4 crore from ₹961.7 crore, while EBITDA rose 89.3% to ₹63.6 crore from ₹33.6 crore. The EBITDA margin expanded to 5.8% from 3.5% a year ago.

The company’s board approved the re-appointment of Samir Parekh as joint managing director for another five years and Aslesh Parekh as joint managing director for another five years.

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It also approved the appointment of Santokhsingh Karamsingh Sandhu as an additional non-executive independent director and Jatin Dhamani as an additional whole-time director.

Separately, the board approved incorporation and investment in a wholly-owned subsidiary in South Africa in the petroleum products speciality oils segment.

The proposed investment is up to ₹50 crore, with 100% equity subscription by way of cash consideration as per applicable regulatory provisions in South Africa. The subsidiary will engage in the distribution of petroleum products speciality oils.

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The company also approved an agreement for the purchase of land at Kherane Khurd village in Raigad, covering approximately 21,551 square metres, for up to ₹20 crore.

Shares of Gandhar Oil Refinery India Ltd ended at ₹168, down by ₹2.85, or 1.67%, on the BSE today, May 26.