Gandhar Oil Refinery (India) Limited is a prominent manufacturer of white oils, incorporated in 1992. The company is a leading player in the specialty oils industry, with a growing focus on the consumer and healthcare end-industries. With three decades of experience, Gandhar Oil has established itself as a key supplier in the sector.
The company's operational journey began with the Taloja Plant in 1994, followed by the Silvassa Plant in 2000. In 2017, it expanded into the UAE market by setting up Texol Lubritech FZC (which became a subsidiary effective March 30, 2022) with a partner. What started as a private limited entity later converted to a public company structure to support its growth aspirations.
Gandhar Oil Refinery holds a significant market position, boasting a 26.5% market share in India's white oil segment and a 9.6% market share globally. This establishes the company as one of India's largest manufacturers of white oils and one of the top 5 players worldwide. This dominant position underscores its expertise in specialty oil manufacturing and its ability to serve diverse end-industries effectively.
The company's products are used by over 3,500 customers globally, including major Indian companies and customers across 100 countries in Europe, America, Africa, and APAC regions. Exports alone comprise approximately 64% of the company's total sales, further cementing its international presence.
Gandhar Oil produces a broad variety of specialty oils and lubricants, including White oils, waxes, jellies, automotive oils, industrial oils, transformer oils, and rubber processing oils. These products are sold under its flagship brand "Divyol." The company operates through three main business divisions:
- PHPO (Personal Care, Healthcare, and Performance Oils): This is the largest division, contributing approximately 52.30% of revenue from finished goods in FY24.
- Lubricants: Covering automotive and industrial oils, this division accounted for 31.04% of revenue.
- PIO (Process and Insulating Oils): This segment made up 7.01% of the revenue.
The diverse product range serves various industries, including pharmaceuticals, FMCG, cosmetics, automotive, and industrial applications. These products meet national and international quality standards, approved by India FDA, ISO Certifications, Kosher, BIS, and Halal, and are backed by ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, and GMP certifications, along with Food and Drug Administration (FDA) and DSIR recognitions.
Gandhar Oil operates three plants: two located in Western India (Taloja in Maharashtra and Silvassa in Dadra & Nagar Haveli) and one plant located in Sharjah, UAE (Texol Lubritech FZC). These facilities, spread across 1,28,454 square meters, cater to both Indian and global operations. As of June 30, 2023, the combined annual production capacity of these manufacturing facilities was approximately 522,403 KL. This strategic geographic distribution allows the company to serve both domestic and international markets efficiently while maintaining stringent quality standards.
Gandhar Oil Refinery currently has a market capitalization of ₹1,684 Crore. The company has demonstrated resilient financial performance despite challenging market conditions.
Key Financial Highlights (Consolidated):
- Q4 FY25 Revenue from Operations: ₹961.7 crore (2.4% YoY growth from ₹939.2 crore in Q4 FY24).
- FY25 Full-Year Revenue from Operations: ₹3,896.9 crore (or ₹38,969 million).
- FY25 EBITDA: ₹1,756 million.
- Q1 FY25 PAT: ₹32.6 crore (versus ₹12.1 crore in Q4 FY24).
The company has shown its ability to maintain operations and effectively serve its customer base during volatile market periods.
Gandhar Oil serves a broad and reputable customer base across its divisions:
- Lubricant Oils: Manufacturers for Gulf Oil, Adani Ports and Special Economic Zone, and other industrial machinery and equipment users.
- PIO Division: Includes Toshiba Transmission and other leading manufacturers of transformers and power distribution and transmission companies.
- General Products: Patrons include major FMCG and personal care companies like Procter & Gamble, Unilever, and Marico.
The company's diverse customer base across various industries provides stability and growth opportunities through established relationships with leading corporations.
Gandhar Oil Refinery is actively pursuing strategic initiatives for future growth:
- Vadhvan Port Terminal Development: The company signed a non-binding Memorandum of Understanding with Jawaharlal Nehru Port Authority (JNPA) to participate in the development of the Vadhvan Port terminal (handling container, bulk, and liquid cargo). An investment of approximately ₹1,000 crore has been earmarked, subject to competitive bidding, with the port expected to commence operations in 2030.
- ADNOC Contract: Texol Lubritech FZC (a subsidiary) secured a significant order from Abu Dhabi National Oil Company (ADNOC) valued at approximately ₹10,000 crores over three years. This contract demonstrates the company's capability to secure large-scale international orders and expand its overseas operations.
The company has received multiple recognitions for its export performance and quality standards:
- Government-Recognized 4-Star Export House.
- Registration cum membership of the Federation of Indian Export Organization.
- DSIR Recognition: Established an in-house R&D center, receiving recognition from the DSIR, Ministry of Science and Technology, Government of India. This research and development capability enables the company to innovate and develop products that meet evolving market demands while maintaining competitive advantages.
Gandhar Oil Refinery continues to strengthen its position as a leading specialty oils manufacturer with a focus on sustainable growth, operational excellence, and customer satisfaction. The company's strategic investments in infrastructure development and its strong market position provide a solid foundation for future expansion in both domestic and international markets.
