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Gandhar Oil Refinery (India) Ltd. IPO

Gandhar Oil Refinery India Limited, a frontrunner in white oil manufacturing, has surged to prominence with a strategic focus on consumer and healthcare sectors. Renowned for its "Divyol" brand, the company offers a diverse product suite exceeding 350 items, spanning personal care, healthcare, lubricants, and more. As of June 30, 2022, it stands as India's largest white oil manufacturer by revenue, capturing global markets with a presence in over 100 countries. With a remarkable CAGR of 49.68% from FY 2020 to 2022, Gandhar Oil Refinery attains distinction for its high-quality specialty oils and enduring customer relationships, as affirmed by the CRISIL Report.

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Open Date

2023-11-22

Close Date

2023-11-24

IPO Details

Check out the issue details for Gandhar Oil Refinery (India) Ltd. IPO as disclosed in SEBI.

IPO Price

₹ 169

Price Band

₹ 160 - 169

Issue Size

500.69 Cr.

Issue Type

Book Built

Open

2023-11-22

Close

2023-11-24

Listingprice

₹ 298

ListingGain

76.33%

Listing Date

2023-11-30

CMP

₹ 215.9

Current Return

27.75%

News

Gandhar Oil Refinery receives work order worth of Rs 15.20 crore2 Apr, 2:59PM Gandhar Oil Refinery bags work order worth Rs 17.41 crore22 Mar, 5:40PM Gandhar Oil Refinery (India) informs about analyst meet 1 Mar, 3:10PM Gandhar Oil Refinery (India) informs about outcome of board meeting 23 Jan, 5:00PM Gandhar Oil Refinery - Quaterly Results23 Jan, 2:55PM Gandhar Oil Refinery - Quaterly Results23 Jan, 2:55PM Gandhar Oil Refinery - Quaterly Results23 Jan, 2:55PM Gandhar Oil Refinery (India) informs about investor presentation5 Jan, 5:23PM Gandhar Oil Refinery (India) informs about audio recording link of analysts meet 19 Dec, 5:34PM Gandhar Oil Refinery (India) informs about newspaper publication 16 Dec, 2:04PM Gandhar Oil Refinery (India) informs about closure of trading window4 Dec, 4:54PM Gandhar Oil Refinery (India) coming with IPO to raise upto Rs 517.68 crore20 Nov, 4:00PM Gandhar Oil Refinery files IPO papers with SEBI26 Dec, 3:25PM

Company Financials

You can get the following financial statements of Gandhar Oil Refinery (India) Ltd. as of now.

Exchange

NSE: GANDHAR BSE: 544029

  Profit Loss
  Balance Sheet
  Quarterly
  Shareholding
  Cash Flow

Subscription Details

The details about the Gandhar Oil Refinery India Limited IPO is as:

  • The issue size of the IPO is 500.69 Cr.
  • The price band for Gandhar Oil Refinery India Limited IPO is Rs 160 to Rs 169.
  • The shares of Gandhar Oil Refinery India Limited IPO will list on 30th November 2023.
  • The latest tentative GMP of Gandhar Oil Refinery India Limited IPO is Rs 80. 
  • The shares of Gandhar Oil Refinery India Limited IPO is subscribed 65.63 Times as of 24th November 2023. 

 

Gandhar Oil Refinery India Limited IPO Valuation

The approx valuation of Gandhar Oil Refinery India Limited IPO based on its price band and DRHP (prospectus) is:

Particulars Value
Upper Price Band Rs 169
Existing Shares (Qty) 8.00 Cr
Fresh Issue 302 Cr
Market Cap 1654 Cr
EPS (FY22) Rs 13.58
PE Ratio 12.44x
Industry PE 27.63x

 

Gandhar Oil Refinery India Limited IPO Issue Size

Gandhar Oil Refinery India Limited IPO issue size is 500.69 Cr. 

Issue Amount
Fresh Issue 302 Cr
Offer For Sale 198.69 Cr

 

Gandhar Oil Refinery India Limited IPO Market Lot

An Individual can apply for a minimum 1 lot of 88 shares and a maximum of 13 lots of 1144 shares. Find the details below:

Application Lot Shares Amount
 Minimum  1 88 14,872
 Maximum 13 1144 1,93,336

 

Gandhar Oil Refinery India Limited IPO share offer

The shares of Gandhar Oil Refinery India Limited IPO is subscribed 65.63 Times as of 24th November 2023. The category-wise shares subscribed are as follows: 

Category % Offered Subscribed
Qualified Institutional Maximum 50% 129.06 Times
Non-Institutional Minimum 15% 64.34 Times
Retail Individual Minimum 35% 29.93 Times
Total   65.63 Times

Allotment Details

Find below the dates for Gandhar Oil Refinery India Limited IPO:

Schedule Date
Basis of Allotment 28 November 2023
Refunds 29 November 2023
Credit to Demat Account 29 November 2023
IPO Listing Date 30 November 2023

 

Gandhar Oil Refinery India Limited IPO allotment is out. Check the allotment of Gandhar Oil Refinery India Limited IPO by clicking on the button below.

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Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Net Sales 3027.1 2366.32 1984.4 2924.53 2922.26
Total Expenditure 2965.62 2304.15 1890.54 2700.3 2667.66
Operating Profit 61.49 62.17 93.86 224.23 254.6
Other Income 36.25 15.82 24.15 69.71 23.95
Interest 45.08 46.68 35.07 24.5 38.56
Depreciation 7.32 10.77 11.68 11.74 12.7
Exceptional Items -16.06 0 0 0.51 0
Profit Before Tax 29.28 20.54 71.25 258.21 227.3
Provision for Tax 7.22 2.72 19.93 61.61 57.77
Net Profit 22.07 17.82 51.32 196.61 169.53
Adjusted EPS (Rs.) 0.28 0.22 0.64 2.46 2.12

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Equity and Liabilities
Share Capital 16 16 16 16 16
Total Reserves 306.5 315.58 367 518.07 687.74
Borrowings 2.51 16.11 17.57 5.23 4.41
Other N/C liabilities 2.68 12.53 9.32 5.39 19.22
Current liabilities 795.13 590.82 598.23 546.95 443.33
Total Liabilities 1122.81 951.04 1008.12 1091.64 1170.69
Assets
Net Block 93.57 110.01 104.19 100.35 124.87
Capital WIP 5.22 12.43 21.57 43.48 72.53
Intangible WIP 0 0 0 0 0
Investments 6.96 2.09 2.22 2.11 2.11
Loans & Advances 1.68 3.35 6.19 7.37 9.4
Other N/C Assets 5.78 6.1 4 16.22 57.46
Current Assets 1009.61 817.06 869.95 922.1 904.33
Total Assets 1122.81 951.04 1008.12 1091.64 1170.69
* Other Non-current Liabilities include Net deferred Liabilities

Quarterly Result (All Figures in Cr.)

PARTICULARS Sep 2023 Dec 2023
Other Income 2.2 1.78
Profit Before Tax 40.67 58.39
Tax 10.2 14.78
Profit After Tax 30.46 43.61
Adjusted EPS (Rs) 3.81 4.46

Share Holding Pattern

Promoter Pledging %

Date Promoter % Pledge %
Mar 2024 64.63 0
Dec 2023 64.63 0
Sep 2023 64.63 0
* Figures given above are % of equity capital

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Profit from operations 45.34 20.54 71.25 257.7 227.3
Adjustment 59.19 57.78 58.77 -14.32 41.2
Changes in Assets & Liabilities 87.87 -57.06 -24.42 -68.72 -154.5
Tax Paid -22.94 0.99 -3.83 -57.87 -61.57
Operating Cash Flow 153.41 22.25 101.77 117.3 52.43
Investing Cash Flow 20.5 3.37 -6.03 26.89 -39.6
Financing Cash Flow -174.77 -25.34 -91.19 -114.67 -48.34
Net Cash Flow -0.86 0.28 4.55 29.53 -35.52
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