GANDHAR OIL REFINE IND L

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.