Gandhar Oil Refinery Q2 Net Profit Surges Fourfold on 73% Revenue Jump

The Quick Take

• Gandhar Oil Refinery Q2 net profit surged over 4x to ₹186.3 crore from ₹40 crore a year earlier
• Revenue grew 73% to ₹1,846.6 crore, with EBITDA expanding to ₹288 crore from ₹66 crore
• EBITDA margin nearly tripled to 15.6% from 6%, signaling sharply improved operational efficiency

Gandhar Oil Refinery posted a dramatic turnaround in Q2 FY26, with net profit surging more than fourfold to ₹186.3 crore from ₹40 crore in the year-ago period. Revenue jumped 72.9% to ₹1,846.6 crore, reflecting robust demand for the company's refined oil products. The sharp revenue growth was matched by equally impressive operating performance, with EBITDA climbing to ₹288 crore from ₹66 crore, pointing to significant operating leverage as the business scaled.

The EBITDA margin expanded dramatically to 15.6% from 6.0%, highlighting Gandhar's ability to capture profitability gains as revenues scaled. The improvement signals that cost discipline and operational efficiency are keeping pace with top-line growth rather than being eroded by expansion costs. For investors monitoring India's mid-cap refining space, these margin dynamics indicate structural improvement rather than a one-quarter anomaly.

In a separate development, Gandhar Oil Refinery appointed Santosh Kumar Singh as Factory Manager of its Silvassa plant, suggesting the company is also focused on operational leadership as it manages rapid growth. The combination of strong financials and leadership additions at the plant level could support continued execution momentum heading into Q3. Market participants will watch whether the margin trajectory holds as crude input costs and product mix evolve.

Synthesized from 1 source.