Gandhar Oil Refinery (India) Ltd IPO
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Gandhar Oil Refinery (India) Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 296.27 L | ₹ 117.57 L | ₹ 103.69 L | ₹ 339.9 L | BSE | ₹ 500.69 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 22 Nov, 23 | 24 Nov, 23 | 88 | ₹ 14,080 | Book Building | 30 Nov, 23 |
Gandhar Oil Refinery (India) Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Refineries |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 0x | 14813366 | 0 |
| NII | 0x | 4444010 | 0 |
| Retail | 0x | 10369356 | 0 |
| Employee | 0x | 0 | 0 |
| Total | 0x | 29626732 | 0 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Gandhar Oil Refinery (India) Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 4,113.21 | 4,079.03 | 3,543.37 |
| EBITDA | 194.46 | 252.69 | 281.70 |
| PAT | 118.71 | 169.53 | 196.61 |
| Total Assets | 1,241.19 | 907.62 | 922.10 |
| Share Capital | 19.57 | 16.00 | 16.00 |
| Total Borrowings | 221.57 | 141.76 | 149.17 |
| Operating Activities (Net Cash) | 134.13 | 182.23 | 208.35 |
| Investing Activities (Net Cash) | -5.94 | -70.42 | -41.37 |
| Financing Activities (Net Cash) | 221.57 | 141.76 | 149.17 |
| Net Cashflow | 234.90 | 40.84 | 138.58 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Gandhar Oil Refinery (India) Ltd
Gandhar Oil Refinery (India) Limited was incorporated on October 7, 1992 at Mumbai, Maharashtra as `Gandhar Oil Refinery (India) Private Limited' under the Companies Act, 1956. Pursuant to fulfilling certain requirements for a public company under the Companies Act, 1956 and conversion into a public limited company, the name of the Company was changed to `Gandhar Oil Refinery (India) Limited', and a fresh certificate of incorporation dated January 22, 1997 was issued by the Registrar of Companies, Maharashtra, at Mumbai (RoC). The Company was then converted into a private limited company under the provisions of the Companies Act, 1956 and the name of the Company was changed to `Gandhar Oil Refinery (India) Private Limited' pursuant to conversion into a private company, and a fresh certificate of incorporation dated January 6, 2003 was issued by the RoC. Subsequently, the name of the Company was changed to `Sunoco Industries Private Limited' and a fresh certificate of incorporation dated March 16, 2004 was issued by the RoC. The name of the Company was changed again to `Gandhar Oil Refinery (India) Private Limited' and a fresh certificate of incorporation dated July 25, 2005 was issued by the RoC. Pursuant to conversion into a public limited company, the name of the Company was changed to `Gandhar Oil Refinery (India) Limited', and a fresh certificate of incorporation dated August 22, 2005 was issued by the RoC.
The global specialty oil market value, estimated at $129.90 billion in 2023, is expected to grow to $154.0 billion by 2028, at a CAGR of 3.5%. The Indian specialty oil market is estimated to be $7.33 billion in 2023 and reach $9.30 billion by 2028, at a CAGR of 4.9%. White oil is expected to be the fastest-growing segment over the forecast period, given the favourable outlook for end-user industries amid rising focus on product safety and awareness about health and hygiene
Gandhar Oil Refinery (India) Limited is a leading manufacturer of white oils by revenue with a growing focus on the consumer and healthcare end-industries. As of June 30, 2023, its product suite comprised over 440 products primarily across the personal care, healthcare and performance oils, lubricants and process and insulating oils divisions under the Divyol brand. The Company is India's largest manufacturer of white oils by revenue in Financial Year 2023, including domestic and overseas sales and is one of the top five players globally in terms of market share in the calendar year 2022
Peer Comparison:
- Savita Oil Technologies Ltd
- Apar Industries Ltd
- Panama Petrochem Ltd
- Galaxy Surfactants Ltd
- Privi Speciality Chemicals Ltd
- Rossari Biotech Ltd
- Fairchem Organics Ltd
Gandhar Oil Refinery (India) Ltd IPO Key Points
Strengths
- Leading market share of the Indian white oils market with significant overseas sales, focused on the consumer and healthcare end-industries.
- Extensive and diversified customer base and a supplier base comprised of leading oil companies with competitive pricing terms.
- Strategically located manufacturing facilities and in-house R&D capabilities.
- Resilient, flexible and scalable business model with prudent risk management framework.
- Track record of consistent financial performance.
Risk
- The company depends significantly on its personal care, health care and performance oil business division and downturns in the industries addressed by this business division or an inability to manage sales by the business division effectively leading to any reduction in revenue from this division could adversely affect its business, financial condition and results of operations.
- The company is subject to strict quality requirements and standards and inspections and the success and acceptance of its products by its customers is largely dependent on its ability to meet such quality requirements and standards. Its failure to comply with the quality standards and technical specifications prescribed by such customers may lead to a loss of business from such customers and could negatively impact its reputation, which would have an adverse impact on its business prospects and results of operations.
- Its inability to effectively manage its growth and expansion or to successfully implement the company's business plan and growth strategy, including in relation to the expansion of its manufacturing plants, could have an adverse effect on its business, results of operations and financial condition.
Strategy
- Enhanced focus on the consumer and healthcare end-industries.
- Continue to increase overseas sales by strategically expanding product offerings.
- Strengthen its customer base by growing existing customer business and acquiring new customers.
- Strengthen its manufacturing and R&D capabilities.
- Leading market share of the Indian white oils market with significant overseas sales, focused on the consumer and healthcare end-industries.
- Extensive and diversified customer base and a supplier base comprised of leading oil companies with competitive pricing terms.
- Strategically located manufacturing facilities and in-house R&D capabilities.
- Resilient, flexible and scalable business model with prudent risk management framework.
- Track record of consistent financial performance.
How To Apply for Gandhar Oil Refinery (India) Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
