Gandhar Oil Refinery (India) Limited (GANDHAR) Fair Value & Analysis
Energy · IN · Market cap ₹18.3B
Fair value as of: Aug 13, 2026
From 25 valuation models · updated 3 days ago
Share price +19.8% over the past month.
Below-average quality, and screening another 36% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (₹199.71). The favourable scenario is already priced in.
- Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (3 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
32‑month range ₹115.71 – ₹303.68 · fair‑value band ₹112.77 – ₹199.71 · the ₹245.57 price screens above the ₹157.31 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Gandhar Oil Refinery (India) Limited (GANDHAR) currently trades at ₹245.57, while our model-based Fair Value estimate is ₹157.31, implying the stock looks roughly 35.9% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Gandhar Oil Refinery (India) Limited generated revenue of ₹42.4B at a net margin of 3.2%. Revenue grew 13.7% year over year. It earns a return on equity of 10.2%. Net debt stands at ₹1.8B. Fundamentals as of Aug 13, 2026
Our scenario range runs from ₹112.77 (bear case) to ₹199.71 (bull case); at ₹245.57, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 114% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -56% fair-value upside, at -36%, GANDHAR screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 25 models by family
Widest divergence: Multiples (₹219.29) versus Dividend Discount (₹20.11). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 49 · Market factors (momentum, volatility) 84
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Gandhar Oil Refinery (India) Limited manufactures and sells white oils with focus on the consumer and healthcare sectors in India.
Full company description
Gandhar Oil Refinery (India) Limited manufactures and sells white oils with focus on the consumer and healthcare sectors in India. It offers waxes, and jellies for consumer, healthcare, plastics, chemical, textiles, and fragrance industries; lubricants, including automotive oils and industrial oils for automobile, and industrial machines and equipment; and process and insulating oils comprising transformer oils and rubber processing oils for transformer manufacturers, power generation and distribution, and tyre and rubber product manufacturers. The company also involved in trading non-coking coal; and the provision of logistics services, including cargo handling and transportation. Further, it operates consignment and del-credere agency; and sells polymer products. The company sells its products under Divyol brand. It exports its products to the Americas, Europe, Africa, and the Asia-Pacific. Gandhar Oil Refinery (India) Limited was incorporated in 1992 and is headquartered in Mumbai, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Gandhar Oil Refinery (India) Limited reported revenue of ₹42.4B in FY2026 versus ₹33.9B in FY2022, a compound +5.8%/yr. Reported net income was ₹1.4B in FY2026, compounding −5.3%/yr from FY2022.
of which total revenue +7.2 pp · buybacks/dilution −28.1 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
GANDHAR screens 36% overvalued. Compare with Reliance Industries Limited →
Peer Group
Oil & Gas Refining & Marketing · 115 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Oil & Gas Refining & Marketing median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Oil & Gas Refining & Marketing stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Reliance Industries Limited RELIANCE | ₹1,329 | ₹751.26 | -43% |
| Valero Energy Corporation VLO | $330.21 | $127.32 | -61% |
| Marathon Petroleum Corporation MPC | $348.25 | $133.18 | -62% |
| Phillips 66 PSX | $225.58 | $99.41 | -56% |
| Neste Oyj NESTE | €29.61 | €3.83 | -87% |
| Formosa Petrochemical Corporation 6505 | 70.20 TWD | 15.32 TWD | -78% |
| Bharat Petroleum Corporation BPCL | ₹317.00 | ₹846.81 | +167% |
| SK Innovation Co 096770 | 122,400 KRW | 53,541 KRW | -56% |
| S-Oil Corporation 010950 | 140,900 KRW | 19,441 KRW | -86% |
| HD Hyundai Co 267250 | 230,500 KRW | 286,077 KRW | +24% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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