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Gandhar Oil IPO

In terms of revenue, Gandhar Oil Refinery is the top producer of white oils, with an increasing emphasis on the consumer and healthcare end markets. As of June 30, 2022, the company’s product line included more than 350 items, mostly from the lubricants, process and insulating oils (PIO), personal care and healthcare (PHPO) divisions under the “Divyol” brand.

Prominent Indian and international companies use the products as ingredients to make consumer, healthcare, automotive, industrial, power, tyre and rubber end products. Between FY 2020 and 2022, the company’s pro forma consolidated revenue from operations expanded at a compound annual growth rate (CAGR) of 49.68%, which was the highest among certain peers in the specialty oil industry and the second-highest among certain peers in the specialty chemical industry.
As of 30 June 2022, its products were sold in over 100 countries across the globe. Gandhar Oil catered to over 3,529 customers in the FY 2022, including leading Indian and global companies such as Procter & Gamble (P&G), Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj Consumer Care, Emami, and Amrutanjan Healthcare, supported by our global supplier base and manufacturing operations in India and UAE.
The product categories and primary end-industries for its three main business divisions are as follows:
• Personal Care, Healthcare, and Performance Oils (PHPO)
• Lubricants
• Process and Insulating Oils (PIO)

Gandhar Oil IPO Details

Signature Global IPO Details
Gandhar Oil IPO Dates
22 – 24 November 2023
Gandhar Oil Refinery (India) IPO Price
INR 160 – 169 per share
Fresh issue
17,869,822 shares (INR 285.92 – 302 crore)
Offer For Sale
11,756,910 shares (INR 188.11 – 198.69 crore)
Total IPO Size
29,626,732 shares (INR 474.03 – 500.69 crore)
Minimum bid (size)
88 shares (INR 14,872)
Face Value
INR 2 per share
Retail Allocation
35%
Listing On
BSE, NSE

Gandhar Oil Refinery (India) Financial Performance

Signature Global Financial Performance

FY21

FY22

FY23

Q1 FY 24

Revenue

2,221.00

3,543.37

4,079.44

1,070.34

Expenses

2,129.42

3,344.24

3,830.84

1,004.38

Net income

98.68

160.22

201.16

53.93

Margin (%)

4.44

4.52

4.93

5.04

Figures in INR Crore unless specified otherwise

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