HDFC Securities Pick of the Week 24 Aug'26: Gandhar Oil Refinery (India) Limited

Gandhar Oil Refinery (India) Limited (GORIL) delivered its strongest-ever quarter in Q1FY27, with consolidated revenue from operations rising 91.8% YoY to ₹1,732 crore, compared with ₹903 crore in Q1FY26. The Personal Care, Healthcare and Performance Oils (PHPO) segment grew 18% YoY, while the Process and Insulating Oils (PIO) business grew 28%. Exports also increased significantly, contributing 51% of consolidated revenue, compared with 37% in the previous year, with export volumes rising 54% YoY.

Profitability also improved sharply, supported by strong performance from subsidiary Texol Lubritech FZC. EBITDA margins expanded from 5.1% to 16.2%, helped by the company’s ability to pass on higher input costs and favourable global base oil supply conditions. As a result, ORIL reported a record Q1FY27 profit of ₹192 crore, driven by strong export growth and significant margin expansion.