Integrated Filing — IndAS



General information about company

Scrip Code 544029
NSE Symbol GANDHAR
MSEI Symbol LISTED
ISIN INE717W01049
Name of company GANDHAR OIL REFINERY (INDIA) LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 23-01-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 16-01-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Third quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment petroleum products speciality oils
Start date and time of board meeting 23-01-2026   13:15:00
End date and time of board meeting 23-01-2026   16:05:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? Yes
No. of times funds raised during the quarter 1
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
Not Applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
1 Income
Revenue from operations 92,260.00 2,47,531.00
Other income 928.00 1,601.00
Total income 93,188.00 2,49,132.00
2 Expenses
(a) Cost of materials consumed 80,181.00 2,20,783.00
(b) Purchases of stock-in-trade 4,103.00 4,666.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (497.00) (3,993.00)
(d) Employee benefit expense 898.00 2,402.00
(e) Finance costs 628.00 1,827.00
(f) Depreciation, depletion and amortisation expense 614.00 1,837.00
(f) Other Expenses
1 Consumption of Stores and Spares 93.00 266.00
2 Power and Fuel 114.00 386.00
3 Electricity Charges 7.00 26.00
4 Labour Charges 219.00 738.00
5 Water Charges 6.00 8.00
6 Security Charges 17.00 66.00
7 Repairs and Maintenance 64.00 414.00
8 Laboratory Expenses 1.00 1.00
9 Research & Development expenditure 105.00 309.00
10 Others 2,032.00 7,256.00
Total other expenses 2,658.00 9,470.00
Total expenses 88,585.00 2,36,992.00
3 Total profit before exceptional items and tax 4,603.00 12,140.00
4 Exceptional items 0.00 0.00
5 Total profit before tax 4,603.00 12,140.00
6 Tax expense
7 Current tax 1,110.00 2,822.00
8 Deferred tax (87.00) (109.00)
9 Total tax expenses 1,023.00 2,713.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 3,580.00 9,427.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 3,580.00 9,427.00
17 Other comprehensive income net of taxes 3.00 5.00
18 Total Comprehensive Income for the period 3,583.00 9,432.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 1,958.00 1,958.00
Face value of equity share capital 2 2
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 3.66 9.63
Diluted earnings (loss) per share from continuing operations 3.66 9.63
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 3.66 9.63
Diluted earnings (loss) per share from continuing and discontinued operations 3.66 9.63
24 Debt equity ratio 0 0
25 Debt service coverage ratio 7.8300 7.7700
26 Interest service coverage ratio 6.8500 6.7700
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) NOTES TO THE STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER 2025 1 The Statement of Standalone Unaudited Financial Results for the quarter and nine months ended December 31, 2025 have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 Interim Financial Reporting (Ind AS 34), prescribed under Section 133 of the Companies Act, 2013 and other accounting principles generally accepted in India, read with relevant rules issued thereunder and in terms of the Securities and Exchange Board of India (Listing Obligations and Dislcosure Requirements) Regulations, 2015 as amended (‘Listing Regulations'). 2 The above Unaudited standalone financial results have been reviewed and recommended by Audit Committee and approved by the Board of Directors at their respective meetings held on January 23, 2026. 3 The Company has received an amount of Rs 302.00 crore (Net Proceeds Rs.278.54 crore/ Rs.317.44 crore including IPO Expenses) from proceeds out of fresh issue of equity shares. The utilisation of IPO proceeds is summarised as under: (Rs. in crore) Objects of the Issue Amount to be utilised as per Prospectus Utilisation up to December 31, 2025 Un-utilised amount as on December 31, 2025 Investment into subsidiary company -Texol Lubritech FZC by way of a loan for financing the repayment/pre-payment of a loan facility availed by Texol Lubritech FZC from the Bank of Baroda 22.71 22.71 - Capital expenditure through purchase of equipment and civil work required for expansion in capacity of automotive oil at our Silvassa Plant 27.73 27.73 Funding working capital requirements of our Company 185.01 185.01 General corporate purposes 81.99 81.99 Net Proceeds 317.44 317.44 4.The Company is primarily engaged in manufacturing and trading of of petroleum products / specialty oils. Accordingly, the company has only one reportable segment “petroleum products / specialty oils” as per IND AS 108- “Operating Segment”. 5.The company has changed the presentation currency of financial results from Rs. in million to Rs. in crore from the current quarter and accordingly all the Previous period figures have been rounded off to the nearest crores. The previous quarter's / year's figures have been regrouped / rearranged wherever necessary to confirm to those of current quarter /year classification. 6.The above results are available on the Company's website (www.gandharoil.com) and also on the website of BSE (www.bseindia.com) and NSE (www.nseindia.com), where the shares of the Company are listed.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-10-2025 01-04-2025
Date of end of reporting period 31-12-2025 31-12-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurement of Defined benefit -Actuarial Gain/Loss 4.00 7.00
Total Amount of items that will not be reclassified to profit and loss 4.00 7.00
2 Income tax relating to items that will not be reclassified to profit or loss 1.00 2.00
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 3.00 5.00





Statement on Deviation or Variation for proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement Etc. (1)

Amount in (Lakhs)

Mode of Fund Raising Public Issues
Description of mode of fund raising (Applicable in case of others is selected)
Date of Raising Funds 30-11-2023
Amount Raised 5,00,692.00
Report filed for Quarter ended 31-12-2025
Monitoring Agency Applicable
Monitoring Agency Name, if applicable ICRA Limited
Is there a Deviation / Variation in use of funds raised No
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders
If Yes, Date of shareholder Approval
Explanation for the Deviation / Variation
Comments of the Audit Committee after review
Comments of the auditors, if any
Sr. Original Object Modified Object, if any Original Allocation Modified allocation, if any Funds Utilised Amount of Deviation/Variation for the quarter according to applicable object Remarks if any
1 Investment into Texol by way of a loan for financing the repayment/prepayment of a loan No 2,271.00 0.00 2,271.00 0.00
2 Capital expenditure through purchase of equipment and civil work required for expansion in capacity of automotive oil at our Silvassa Plant No 2,773.00 0.00 2,771.00 0.00
3 Funding working capital requirements of our Company No 18,501.00 19,117.00 19,117.00 0.00
4 General corporate purposes No 2,765.00 3,957.00 3,957.00 0.00


Signatory Details

Name of signatory Aslesh Parekh
Designation of person Managing Director
Place Mumbai
Date 23-01-2026