GANDHAR
OVERVALUEDGandhar Oil Refinery (India) Limited
Oil & Gas · NSE
↓ 37.3% vs fair value
52W Low
₹115
+10.9% from low
52W High
₹184
-30.8% from high
Valuation Gauge
Current Price
₹128
Fair Value
₹93
Fair Value Analysis
₹93
Based on balance sheet strength analysis and earnings multiple (EV/EBITDA) for Oil & Gas sector companies | Sector-cheap: P/E at 19th percentile vs sector peers. | CAUTION: ROCE declining (latest 11.4%) — returns on capital are falling; verify this isn't a value trap. | Growth capped at 10.0% (ROE 8.7%×1.15) — historical CAGR exceeds sustainable rate or COVID period unverifiable.
Balance Sheet Value
33% weight
EV/EBITDA Multiple
67% weight
Price vs Market
Shareholding Pattern
Stock Health Score
Mixed Signals
Profitability
ROE of 8.7% is acceptable for Oil & Gas sector (benchmark: 10%)
Debt & Leverage
D/E ratio of 0.2x is well within the Oil & Gas sector norm of 1.5x — strong balance sheet
Valuation vs Peers
P/E of 11.8x trades at a significant premium to Oil & Gas sector median (8x)
Cash Flow
Negative FCF of ₹-43 Cr — company is consuming more cash than it generates
Earnings Growth
5yr EPS CAGR of -21.9% — severe earnings decline
Dividend
Dividend yield of 1.0% is symbolic — low but positive
Sentiment Trend — Last 30 Days
Historical Returns
Key Ratios & Growth
FCF Yield
-2.5%
Free cash flow / market cap
Revenue Growth (YoY)
+16.1%
Year-on-year revenue change
Profit Growth (YoY)
+70.0%
Year-on-year PAT change
Operating Cash Flow
₹15 Cr
TTM cash from operations
Key Financials
EPS (TTM)
₹10.9
P/E Ratio
11.8x
P/B Ratio
1x
ROE
8.7%
ROCE
10.6%
Debt / Equity
0.25x
Beta
0.39
Div Yield
1%
FCF (Cr)
₹-43 Cr
Revenue (Cr)
₹3,893 Cr
EPS Growth 5Y
-21.9%
Mkt Cap (Cr)
₹1,238 Cr
52W High
₹184.4
52W Low
₹115
Book Value/Share
₹125.6
Financial History
| Period | Revenue | Op Profit | OPM% | PAT | EPS |
|---|---|---|---|---|---|
| TTM | ₹4.1K Cr | ₹204 Cr | 5.0% | ₹112 Cr | ₹10.86 |
| 2025-03-31 | ₹3.9K Cr | ₹176 Cr | 5.0% | ₹83 Cr | ₹8.18 |
| 2024-03-31 | ₹4.1K Cr | ₹280 Cr | 7.0% | ₹165 Cr | ₹14.36 |
| 2023-03-31 | ₹4.1K Cr | ₹317 Cr | 8.0% | ₹214 Cr | ₹23.86 |
| 2022-03-31 | ₹3.5K Cr | ₹247 Cr | 7.0% | ₹164 Cr | ₹18.42 |
| 2021-03-31 | ₹2.2K Cr | ₹140 Cr | 6.0% | ₹100 Cr | ₹62.70 |
| 2020-03-31 | ₹2.5K Cr | ₹60 Cr | 2.0% | ₹10 Cr | ₹6.16 |
| 2019-03-31 | ₹3.6K Cr | ₹72 Cr | 2.0% | ₹19 Cr | ₹11.71 |
| 2017-03-31 | ₹2.2K Cr | ₹127 Cr | 6.0% | ₹74 Cr | ₹46.43 |
| 2016-03-31 | ₹1.8K Cr | ₹76 Cr | 4.0% | ₹26 Cr | ₹162.19 |
Compounded Growth Rates
Sales Growth
Profit Growth
EPS Growth
Peer Comparison
Oil & Gas| Stock | Price | Fair Value | MoS% | P/E | ROE | Signal |
|---|---|---|---|---|---|---|
Gulf Oil Lubricants India Limited | ₹891 | ₹1,626.9 | +45.2% | 12.7 | 21.1% | UNDERVALUED |
GP Petroleums Limited | ₹28.7 | ₹44.1 | +35.0% | 5.4 | 7.4% | UNDERVALUED |
Magadh Sugar & Energy Limited | ₹493 | ₹640.5 | +23.0% | 8 | 13.9% | UNDERVALUED |
Oil and Natural Gas Corporation | ₹281.4 | ₹330.7 | +14.9% | 9.5 | 12.2% | FAIRLY_VALUED |
Avadh Sugar & Energy Limited | ₹499 | ₹534.5 | +6.6% | 12.8 | 8.0% | FAIRLY_VALUED |
GAIL India | ₹143.4 | ₹146.9 | +2.3% | 10.9 | 9.8% | FAIRLY_VALUED |
Hindustan Petroleum Corporation Limited | ₹328.9 | ₹333.1 | +1.3% | 4.5 | 12.3% | FAIRLY_VALUED |
Mahanagar Gas | ₹966.6 | ₹849.5 | -13.8% | 9.9 | 17.0% | FAIRLY_VALUED |
Institutional Activity
Bulk deals, block deals, short selling & delivery volume — NSE data
Insider Trading
Community Pulse
Company Documents
Annual reports, concall transcripts & regulatory filings
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