Gandhar Oil Refinery (India) Limited (GANDHAR) AI Stock Analysis

• Market Cap: ₹13.41B
• Dividend Yield: 0.34%
• Average Volume (3M): 10.63K
• Price to Earnings (P/E): 11.7
• Beta (1Y): 1.03
• Revenue Growth: -1.05%
• EPS Growth: -11.57%
• Country: IN
• Employees: 381
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Refining & Marketing
• EPS (TTM): 3.31
• Shares Outstanding: 97,879,530
• 10 Day Avg. Volume: 10,147
• 30 Day Avg. Volume: 10,634
• PEG Ratio: -0.37
• Price to Book (P/B): 1.18
• Price to Sales (P/S): 0.37
• P/FCF Ratio: -34.01
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 62 Neutral
• Price Target: ₹145.00 ▼(-4.51% Downside)
• Action: Reiterated Date: 03/31/26
• Date: Action: Reiterated 03/31/26

The score is held back primarily by weak technicals (bearish trend with negative MACD and oversold momentum) and cash-flow pressure (negative free cash flow and weak cash conversion). These are partly offset by a strong balance sheet with low debt and a reasonable valuation (P/E ~11.7) with a modest dividend yield.

Positive Factors

Strong balance sheet

Low leverage and a robust equity ratio provide durable financial flexibility. A debt-to-equity of 0.25 and a strong equity base enable the company to absorb demand shocks, fund incremental capex or working capital needs, and access financing on better terms without jeopardizing solvency over the medium term.

Negative Factors

Negative free cash flow

Persistent negative free cash flow and weak cash conversion indicate earnings are not translating into cash, limiting the company's ability to self-fund capex, reduce liabilities, or return cash to shareholders. Over time this raises refinancing needs and constrains strategic flexibility.

Gandhar Oil Refinery (India) Limited Business Overview & Revenue Model

Company Description

Gandhar Oil Refinery (India) Limited manufactures white oils with focus on the consumer and healthcare end-industries in India. The company operates through Specialty Oil, Non-coking Coal and Logistics Support Services, and Others. The company off...

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Gandhar Oil Refinery (India) Limited manufactures white oils with focus on the consumer and healthcare end-industries in India. The company operates through Specialty Oil, Non-coking Coal and Logistics Support Services, and Others. The company off...

How the Company Makes Money

Gandhar primarily makes money by refining and processing hydrocarbon feedstocks into higher-value specialty oil products and selling them to business customers. Its key revenue streams are: (1) Sales of white oils and related high-purity liquid pa...

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Gandhar primarily makes money by refining and processing hydrocarbon feedstocks into higher-value specialty oil products and selling them to business customers. Its key revenue streams are: (1) Sales of white oils and related high-purity liquid pa...

Gandhar Oil Refinery (India) Limited Financial Statement Overview

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	39.33B	39.10B	41.13B	40.79B	33.87B	22.21B
Gross Profit	4.26B	4.40B	4.86B	5.16B	4.38B	2.85B
EBITDA	1.98B	1.89B	2.76B	3.41B	2.60B	2.40B
Net Income	939.03M	800.32M	1.41B	1.91B	1.68B	1.52B
Balance Sheet
Total Assets	21.97B	19.59B	19.40B	16.13B	13.18B	10.98B
Cash, Cash Equivalents and Short-Term Investments	1.24B	1.52B	714.28M	468.46M	596.79M	1.21B
Total Debt	3.31B	3.05B	2.71B	2.20B	1.91B	2.03B
Total Liabilities	8.53B	6.70B	7.16B	8.53B	7.58B	7.22B
Stockholders Equity	12.90B	12.36B	11.72B	7.25B	5.41B	4.63B
Cash Flow
Free Cash Flow	24.52M	-429.25M	-1.25B	322.71M	510.23M	1.08B
Operating Cash Flow	331.76M	147.13M	-693.37M	879.27M	1.67B	1.18B
Investing Cash Flow	-292.91M	-480.98M	-659.19M	-721.87M	-1.16B	-223.56M
Financing Cash Flow	-256.96M	125.54M	1.60B	-285.73M	-41.28M	-910.86M

Gandhar Oil Refinery (India) Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 151.85
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GANDHAR, the sentiment is Neutral. The current price of 151.85 is above the 20-day moving average (MA) of 128.86, above the 50-day MA of 138.31, and above the 200-day MA of 145.96, indicating a neutral trend. The MACD of -1.46 indicates Negative momentum. The RSI at 56.41 is Neutral, neither overbought nor oversold. The STOCH value of 87.42 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:GANDHAR.

Gandhar Oil Refinery (India) Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GULFOILLUB	73 Outperform	₹44.64B	19.36	―	3.96%	11.94%	10.23%
MRPL	71 Outperform	₹305.92B	4.59	―	2.04%	-11.96%	14.31%
KIRLOSENG	66 Neutral	₹214.15B	39.78	―	0.50%	11.85%	-3.66%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
GANDHAR	62 Neutral	₹13.41B	11.66	―	0.34%	-1.05%	-11.57%
SOTL	58 Neutral	₹23.52B	17.34	―	1.06%	5.84%	-17.92%

Gandhar Oil Refinery (India) Limited Corporate Events