• Q4 FY26 net profit surged nearly 248% YoY to ₹40.70 crore
• EBITDA jumped 89.30% while margins improved sharply to 5.80%
• Stock gained after strong earnings, expansion plans, and operational momentum

Overview

Gandhar Oil Refinery (India) Limited (NSE: GANDHAR) witnessed strong buying momentum after reporting robust Q4 FY26 earnings supported by higher revenue, sharp margin expansion, and significant growth in profitability. The stock moved higher toward the ₹174.80 level as investors reacted positively to improving operational performance and expansion-related developments.

The company also remained in focus after announcing strategic initiatives including overseas expansion, land acquisition for future growth, and management reappointments aimed at strengthening long-term business continuity.

Q4 FY26 Earnings Drive Strong Momentum

The company reported a sharp rise in consolidated net profit for Q4 FY26, which climbed nearly 248.00% year-on-year to ₹40.70 crore compared to ₹11.70 crore reported during the same quarter last year.

Revenue from operations increased around 13.70% YoY to ₹1,093.40 crore against ₹961.70 crore reported in Q4 FY25. EBITDA surged nearly 89.30% to ₹63.60 crore from ₹33.60 crore in the previous year period.

EBITDA margins expanded significantly to 5.80% from 3.50% a year earlier, reflecting improving operational efficiency and a stronger contribution from higher-margin product categories.

FY26 Performance Reflects Operational Improvement

For the full FY26 period, consolidated revenue increased to ₹4,241.20 crore compared to ₹3,896.90 crore in FY25. EBITDA improved to ₹234.50 crore versus ₹175.60 crore in the previous financial year.

Consolidated PAT for FY26 rose to ₹137.20 crore from ₹83.50 crore reported in FY25, indicating sustained earnings recovery and better profitability conditions across operations.

The company also reported consolidated manufacturing sales volumes of 5,45,755 KL during FY26, reflecting nearly 9.00% growth compared to the previous year.

Higher-Margin Products Continue Supporting Growth

Management highlighted that stronger domestic demand and increased focus on higher-margin PHPO products helped support earnings momentum during FY26. PHPO contributed around 48.00% to consolidated revenue, while lubricants accounted for nearly 27.00%.

The company stated that performance remained resilient despite logistical disruptions, macroeconomic uncertainty, and volatility in global oil markets linked to Middle East geopolitical tensions.

Expansion Plans and Strategic Developments

The board approved the incorporation of a wholly owned subsidiary in South Africa focused on petroleum products specialty oils. The proposed investment is up to ₹50.00 crore through 100% equity subscription.

Additionally, the company approved the purchase of land in Raigad for up to ₹20.00 crore to support future expansion activities. Earlier, it had also acquired land in Silvassa to strengthen operational capacity.

The board further approved the reappointment of senior management leadership for another five-year term while also announcing new director appointments to support governance and strategic execution.

Technical Analysis

Gandhar Oil shares are currently trading near ₹167.84 while remaining above the 21-day SMA near ₹151.57, indicating improving near-term price structure. The stock has witnessed a sharp recovery from earlier lows and continues to trade close to recent highs.

The 14-day RSI is positioned near 65.76, indicating improving momentum conditions while approaching higher momentum territory. Immediate support is placed around ₹155.00–₹145.00, which may act as an important accumulation zone during pullbacks. On the upside, resistance is visible near ₹175.00–₹185.00.

Key Risks

• Volatility in crude oil prices could impact operating margins
• Global logistics disruptions may affect supply chain efficiency
• Rising input costs could pressure profitability in future quarters
• Expansion execution delays may affect growth visibility

Summary

Gandhar Oil shares moved higher after the company reported strong Q4 FY26 earnings supported by sharp profit growth, improving EBITDA margins, and healthy revenue expansion. Strategic initiatives including overseas expansion, land acquisition, and higher-margin product focus further strengthened investor sentiment. Technical indicators also reflect improving momentum as the stock trades above important moving average levels.

FAQs

Why did Gandhar Oil shares rise after Q4 FY26 results?
The stock gained after the company reported nearly 248.00% YoY growth in net profit and strong EBITDA expansion.

What was Gandhar Oil’s Q4 FY26 revenue?
The company reported Q4 FY26 revenue of ₹1,093.40 crore, up around 13.70% year-on-year.

What are the important technical levels for Gandhar Oil stock?
Immediate support is placed around ₹155.00–₹145.00, while resistance is visible near ₹175.00–₹185.00.