Gandhar Oil Refinery (India) Ltd Q2 FY26 Results
GANDHARQ2 FY26 ResultsAnnounced 12 Nov 2025, 03:52 pm| Metric | Value (₹ Cr) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 1.1K | 17.4% | 13.3% |
| Total Income | 1.1K | 17.4% | 13.4% |
| Expenditure | 1.0K | 15.8% | 10.9% |
| PBT | 51.03 | 60.6% | 106.8% |
| Net Profit | 39.77 | 52.5% | 119.2% |
| OPM | 6.21% | 1.12pp | 5.71pp |
| NPM | 3.74% | 0.86pp | 1.79pp |
| EPS | 3.68 | 37.3% | 92.7% |
Gandhar Oil Refinery (India) Ltd Reports Q2 FY26 Results: Revenue up 17%, EBITDA up 43%, PAT up 52%
12 Nov 2025 · 12 Nov 2025, 07:08 pm
Summary
Gandhar Oil Refinery (India) Ltd, a leading manufacturer of white oils by revenue, has announced its Financial Results for the Quarter and half Year ended September 30, 2025. The company reported a 17% increase in revenue, a 43% increase in EBITDA, and a 52% increase in PAT for Q2 FY26. The company's consolidated manufacturing sales volumes for H1FY26 stood at 261,524 KL, up by 9% from H1FY25. The company's balance sheet remains healthy with negligible debt.
Key Highlights
- 1
Consolidated Manufacturing Sales Volumes for H1FY26 stood at 261,524 KL, up by 9% from 240,318 KL in H1FY25
- 2
Consolidated Revenues for the Q2FY26 at 10,599 Mn compared to 9,030 Mn in Q1FY26, while for H1FY26 stood at 19,629 Mn compared to 19,299 Mn in H1FY25
- 3
Consolidated EBITDA for Q2 FY26 stood at 3658 Mn, up by 43% from 2460 Mn in Q1 FY26. EBITDA for H1FY26 stood at 31,118 compared to 1,005 Mn in H1FY25
- 4
Consolidated PAT for Q2 FY26 stood at 3398Mn, up by 52% from 2261 Mn in Q1 FY26, while for H1FY26 stood at 3659 Mn compared to 508 Mn in H1FY25
- 5
For H1FY26, the consolidated revenue breakdown is as follows: PHPO leads with 49.29%, Lubricants account for 28.09%, Channel Partners contribute 12.94% and PIO represents 9.67%
Management Comments
Aslesh Parekh
Joint Managing Director
We delivered a strong Q2 FY26 performance, supported by robust domestic demand and our focus on high-margin PHPO products. Despite global headwinds and logistical challenges, we achieved sequential growth across key metrics. Revenue for Q2 stood at 310,599 million, up 17% over Q1, while EBITDA rose 43% to 2658 million and PAT increased 52% to 2398 million. For H1 FY26, revenue reached 219,629 million and EBITDA stood at 21,118 million, with manufacturing sales volumes at 261,524 KL, up 9% year-on-year. PHPO continues to lead with nearly 50% of revenue, driven by strong demand in personal care and healthcare. Our balance sheet remains healthy with negligible debt, despite higher working capital days due to longer export lead times. During the quarter, we secured a significant Rate Contract from Bharat Heavy Electricals Limited (BHEL), Jhansi, for the supply of Transformer Oil over two years, valued at 324.60 Crores. We remain optimistic about domestic demand and expect gradual stabilization in global supply chains, strengthening our confidence in Gandhar’s long-term growth trajectory.
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