Gandhar Oil Refinery (India) Ltd

During the earnings conference call for Q1 FY27, management reported that Gandhar Oil Refinery achieved its highest quarterly profit in the company's history, with consolidated revenue increasing by 92% year-on-year to INR 1,731.9 crores. The gross margin spread expanded significantly to INR 28,145 per kilolitre, attributed to agile sourcing and a favorable product mix amidst a challenging operating environment marked by geopolitical tensions and supply chain disruptions. The PHPO segment was highlighted as a primary growth driver, with an 18% year-on-year growth, while the PIO business grew by 28%. Management noted a robust export performance, with a 54% increase in export revenue, contributing to 51% of total revenue. An interim dividend of 100% of the face value of shares was declared. Management expressed confidence in sustaining growth and profitability, supported by a debt-free balance sheet and strong customer relationships.

Management emphasized record profitability and strong growth across key segments.