Q2 FY27 Financial Performance
Gandhar Oil Refinery (India) Ltd reported consolidated net profit of ₹186 crore for the second quarter of FY27, representing a 368% year‑on‑year increase. Revenue reached a record high of ₹1,847 crore, up 73% YoY. EBITDA rose to ₹288 crore, a 337% YoY surge, and the gross margin spread widened to ₹29,128 per kiloliter (kl), which is 3.0 times the level in the prior year. The gross margin percentage climbed 880 basis points to 21.0%, while the EBITDA margin expanded 940 basis points to 15.6%.
H1 FY27 Highlights
For the first half of FY27, total revenue was ₹3,579 crore, up 82% YoY, and profit after tax (PAT) reached ₹392 crore, a 495% increase. Operating cash flow for H1 FY27 amounted to ₹179.74 crore, compared with ₹127.77 crore in FY26. Profit before tax for the half‑year stood at ₹511.85 crore.
Working Capital and Balance Sheet
Trade receivables as of 30 September 2026 surged to ₹1,338.95 crore from ₹720.88 crore on 31 March 2026. Inventories increased to ₹736.78 crore from ₹644.31 crore over the same period. An exceptional item of ₹21.29 crore was recorded for flood‑related losses at the Silvassa unit.
Rating and Funding
CRISIL reaffirmed an A+/Stable credit rating for Gandhar Oil Refinery and indicated enhanced bank facilities for the company.
Additional Notes
The company highlighted that despite geopolitical headwinds in West Asia, operational efficiency and margin expansion drove the strong performance. The press release is provided under an arrangement with NRDPL, and PTI disclaims editorial responsibility.