Share prices of a small-cap stock moved up by nearly 1.63 percent to Rs. 218 on NSE in the morning trading session of Tuesday, compared to the previous closing price of Rs. 214.5, after the company announced securing an order worth Rs. 17.41 crore.
With a market cap of Rs. 2,082.2 crore, the company has delivered negative returns of around 29.4 percent in the last one year and nearly 22.65 percent so far in 2024.
According to the recent filings on the stock exchanges, Gandhar Oil Refinery (India) Limited has received a work order from Ajmer Vidyut Vitran Nigam Limited.
The work order, worth Rs. 17.41 crore, is for the supply of EHV Grade Type-II Transformer Oil. The contract will be executed within eight months from the date of the commencement period, which is 30 days from the receipt of the purchase order.
In terms of financials, the company’s revenue from operations grew by 10.18 percent from Rs. 1,001 crore in Q2 FY23-24 to Rs. 1,103 crore in Q3 FY23-24.
The net profit of the company also increased by 6.25 percent to Rs. 51 crore in Q3 FY23-24 from Rs. 48 crore in Q2 FY23-24.
As of December 2023, FIIs hold 2.53 percent of the shares, while DIIs hold 6.61 percent of the shares in the company, aggregating to 9.14 percent of the institutional holdings.
Gandhar Oil Refinery (India) Limited is a leading manufacturer of white oils by revenue.
The company is engaged in the business of producing Pharmaceutical, Health care and Performance Oil (PHPO), Process Insulating Oil (PIO) and Lubricants (automotive oils and industrial oils).
Written by Shivani Singh
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