The shares of a Leading white oil supplier which has a 26.5 percent market share with well-known clients such as HUL, Patanjali, Marico, and many more, slumped 6 percent after it declared its Q2FY24 results.
At 10:50 a.m the shares of Gandhar Oil Refinery (India) Limited were trading at Rs. 292.75, down 5.47 percent from its previous day’s close price of Rs. 309.70 and its market capitalization is Rs. 2,868 Crores.
Gandhar Oil Refinery (India) Limited has declared its quarter ended September(Q2FY24) results and it is as follows;
Its revenue from operations declined 6.48 percent QoQ from Rs. 1070.36 Crores in Q1FY24 to Rs. 1000.99 Crores in Q2FY24, and its net profit declined 11.39 percent QoQ from Rs. 54.23 Crores in Q1FY24 to Rs. 48.05 Crores in Q2FY24.
It has a strong customer base with well-known companies like Hindustan Unilever, Marico, Dabur, Patanjali, Amrutanjan, Adani Ports and Logistics, and many more.
It is a leading player in the white oil industry, with a market share of 26.5 percent in India and 9.6 percent globally, with strategically located manufacturing facilities and R&D in Western India and UAE.
It has a diversified product range i.e., personal care, healthcare, and Performance oils contributing to 54.96 percent of its revenue, Lubricants contributing 25.03 percent and Poly-internal-olefins(POI) contributing to 9.51 percent of its revenue.
It has reported a return on equity (ROE) of 33.67 percent and a return on capital employed (ROCE) of 40.56 percent, it is making good returns on its equity and capital employed.
The company’s revenue from operations grew 15.13 percent from Rs. 3,543.37 Crores in FY22 to Rs. 4,079.44 Crores in FY23, accompanied by increasing profits of Rs. 147.36 Crores to Rs. 190.12 Crores.
Gandhar Oil Refinery (India) Limited is a prominent manufacturer of white oils that caters to the consumer and healthcare industries and it is also into manufacturing and selling of lubricants and Poly-internal-olefins(POI).
Written by: Bharath K.S
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