Gandhar Oil Refinery Shares Slipped ~3% After Release of Q2 FY25 Results

Gandhar Oil Refinery (India) Ltd., a leading manufacturer of white oils by revenue, specializing in Pharmaceutical, Health Care, and Performance Oils (PHPO), Process Insulating Oil (PIO), and Lubricants, has announced its financial results for the quarter ended September 30, 2024. The company continues to demonstrate stability in its manufacturing and financial performance.

Manufacturing Volumes

Consolidated manufacturing volumes for Q2FY25 remained stable at 118,302 KL, while for the first half of FY25 (H1FY25), the total stood at 240,318 KL. On a standalone basis, the company saw a 1.6% increase in manufacturing volumes, reaching 99,172 KL for Q2FY25, compared to the same period in the previous fiscal year.

Financial Highlights

Consolidated revenues for Q2FY25 stood at ₹9,351 million, a slight decrease from ₹9,948 million in Q1FY25. For H1FY25, consolidated revenues totalled ₹19,299 million. Standalone revenues for Q2FY25 amounted to ₹7,612 million, compared to ₹7,902 million in Q1FY25. 

For H1FY25, the revenue composition was as follows: PHPO contributed 47.9% to consolidated revenues, Lubricants accounted for 28.2%, PIO represented 9.5%, and Channel Partners contributed 14.4%. This diverse revenue mix reflects the company’s broad market presence and product portfolio.

The consolidated manufacturing gross margin spread for Q2FY25 stood at ₹8,299 per KL, down slightly from ₹8,755 per KL in Q1FY25. For H1FY25, the average margin spread was ₹8,531 per KL. This reflects the company’s efforts to maintain profitability despite fluctuations in revenue and market conditions.

On November 07, 2024, Gandhar Oil Refinery shares opened at ₹217.90 and touched the day low of ₹214.00 at 10:15 AM.

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