Gandhar Oil Q4 FY26: Revenue ₹1,093 Cr, PAT ₹37 Cr

What the latest results show

Gandhar Oil Refinery (India) has reported a sharp year-on-year improvement in profitability for the quarter ended March 31, 2026 (Q4 FY26), supported by higher revenue, stronger operating metrics, and lower finance costs. The company’s board approved the financial results for the quarter and full year ended March 31, 2026 at its meeting held on May 26, 2026. Alongside the headline profit growth, management highlighted improvements in cash flow from operations and consolidated margins during FY26.

The dataset also includes standalone quarterly numbers (all figures in ₹ crore) across Mar 2025 to Mar 2026, and additional consolidated metrics such as EBITDA, manufacturing spread and international revenue mix. Separately, the current share price is stated at ₹226.6, while another data point says the shares closed at ₹155.79 on June 01, 2026 (NSE).

Consolidated Q4 FY26: revenue up, profit jumps

On a reported consolidated basis, net sales for Q4 FY26 were ₹1,093.37 crore, up 13.69% from ₹961.73 crore in Q4 FY25. Quarterly net profit (PAT) was ₹37.05 crore, up 201.47% from ₹12.29 crore a year earlier. The same summary also states EBITDA at ₹67.75 crore in Q4 FY26, up 82.52% from ₹37.12 crore in Q4 FY25.

In management commentary, consolidated revenue for Q4 was also cited as ₹1,093 crore, a 14% year-on-year increase. EBITDA for Q4 FY26 was referenced at ₹64 crore in the commentary, described as an improvement versus the preceding quarter and on a year-on-year basis despite input cost movements.

Full-year FY26: revenue growth with stronger returns

For FY26, consolidated revenue was reported at ₹4,241.18 crore, compared with ₹3,896.93 crore in FY25, a rise of 8.83%. Consolidated profit for FY26 stood at ₹137.25 crore, up 64.33% versus ₹83.52 crore in FY25.

Management commentary also presented FY26 consolidated revenue at approximately ₹4,241 crore, describing it as about 9% growth over FY25. For operating performance, the commentary cited FY26 EBITDA of ₹234 crore.

Return metrics cited for FY26 included EPS of ₹13.8 (up from ₹8.18 in FY25), ROE of 10.21% (versus 6.65%), and ROCE of 13.5% (versus 10.8%). The dataset also states that EBITDA margin improved to 5.5% in FY26 from 4.5% in FY25.

Standalone Q4 FY26: revenue ₹929 crore, profit ₹44 crore

Standalone financial highlights indicate that revenue from operations in Q4 FY26 was ₹929.38 crore. This is described as a QoQ decrease of 0.31% versus Q3 FY26 revenue of ₹932.28 crore and a YoY increase of 23.63% versus Q4 FY25 revenue of ₹751.75 crore.

Standalone profit for the period in Q4 FY26 was ₹44.13 crore, up 23.27% QoQ from ₹35.80 crore in Q3 FY26 and up 319.09% YoY from ₹10.53 crore in Q4 FY25. For FY26, standalone revenue is stated at ₹3,422.56 crore (FY25: ₹3,160.26 crore), while standalone profit is stated at ₹138.39 crore (FY25: ₹75.30 crore).

Quarter-by-quarter standalone P&L trend (Mar 2025 to Mar 2026)

The standalone quarterly table shows a steady rise in net sales across FY26, with operating profit improving over the same period. Net sales increased from ₹751.75 crore in Mar 2025 to ₹929.38 crore in Mar 2026, while operating profit rose from ₹26.42 crore to ₹65.65 crore over the same period.

Interest and depreciation remained broadly stable quarter-to-quarter in the table, while profit after tax rose from ₹10.52 crore in Mar 2025 to ₹44.13 crore in Mar 2026. Adjusted EPS in the table increased from ₹1.07 to ₹4.51 over those quarters.

Operating drivers: spreads, volumes, and international mix

The commentary notes that the gross manufacturing gross margin spread for Q4 FY26 stood at ₹9,351 per kL. For the full year FY26, manufacturing volumes were reported at 554,212 kL, reflecting 8% year-on-year growth.

The dataset also states gross margin improved from 10.96% to 11.48% on a consolidated basis, and that Q4 FY26 gross margin was 12.49%. In addition, the international business contributed 42.8% to total consolidated revenues, indicating a meaningful share of sales coming from outside India.

Costs and cash flow: finance cost down, operating cash up

A key balance-sheet related takeaway in the commentary is lower finance costs and stronger operating cash generation. Consolidated finance cost is stated to have fallen from ₹48.40 crore in FY25 to ₹37.59 crore in FY26, described as a 28% improvement.

Cash flow from operations was reported at a positive ₹127.77 crore as of March 31, 2026, compared with ₹14.71 crore in the previous year. Management linked this to stronger operating efficiency and working-capital management.

Selected consolidated snapshots across FY26 quarters (from stated releases)

The dataset also provides select consolidated quarter metrics for FY26 in ₹ crore (converted from ₹ million figures where applicable). Q1 FY26 consolidated revenue is given as ₹903.0 crore, and Q2 FY26 consolidated revenue as ₹1,059.9 crore. The same set of figures lists Q1 FY26 EBITDA at ₹46.0 crore and Q2 FY26 EBITDA at ₹65.8 crore, while PAT is given as ₹26.1 crore for Q1 FY26 and ₹39.8 crore for Q2 FY26.

Market context: share price points and key dates

The provided information states the current share price of Gandhar Oil Refinery at ₹226.6. It also notes that Gandhar Oil shares closed at ₹155.79 on June 01, 2026 (NSE). Readers should treat these as separate stated reference points from different dates in the dataset.

On the corporate calendar, the last earnings date is listed as Q4 FY25-26 on May 26, 2026, and the upcoming earnings date is listed as Q1 FY26-27 on July 22, 2026.

Why the FY26 result matters

Across both standalone and consolidated reporting, FY26 shows a clear improvement in profitability and return ratios, backed by higher margins and reduced finance costs. The FY26 margin improvement cited in the dataset includes an increase in EBITDA margin to 5.5% from 4.5%, and an improvement in consolidated gross margin from 10.96% to 11.48%.

The cash flow swing to ₹127.77 crore from ₹14.71 crore is also notable because it suggests a better working-capital outcome alongside the profit growth. With international business contributing 42.8% of consolidated revenue, the results also underline the importance of export and overseas markets in the company’s overall performance.

Conclusion

Gandhar Oil Refinery (India) closed FY26 with higher consolidated revenue of ₹4,241.18 crore and a stronger profit profile, led by a sharp year-on-year jump in Q4 FY26 PAT to ₹37.05 crore. The reported reduction in finance costs and improvement in operating cash flow adds additional support to the FY26 performance narrative.

The next key scheduled event in the dataset is the upcoming earnings date for Q1 FY26-27 on July 22, 2026, which will provide the next update on revenue, margins, and cash flows.