Gandhar Oil Refinery IPO GMP, date, share price, In depth analysis 2023

Gandhar Oil Refinery IPO description – Gandhar Oil Refinery limited  is coming up with its Initial public offering. The IPO will be open for subscription on  21th november 2023

Gandhar Oil Refinery IPO – Details

Gandhar Oil IPO Dates 22 – 24 November 2023
Gandhar Oil Refinery (India) IPO Price INR 165 – 175 per share (Tentative)
Fresh issue INR 302 crore
Offer For Sale 11,756,910 shares
Total IPO size Coming soon
Minimum bid (lot size) Coming soon
Face Value  INR 2 per share
Retail Allocation 35%
Listing On BSE, NSE

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Gandhar Oil Refinery India IPO – Date Schedule

 

IPO Open Date 22 November 2023
IPO Close Date 24 November 2023
Basis of Allotment Date 30 November 2023
Initiation of Refund 01 December 2023
Credit of Shares to Demat Account 04 December 2023
IPO Listing Date 05 December 2023
Cut-off time for UPI mandate confirmation 5 PM on 24 November 2023

Gandhar Oil Refinery IPO- about company 

 

Gandhar Oil Refinery is a leading manufacturer of white oils by revenue with a growing focus on the consumer and healthcare end-industries.

As of June 30, 2022, their product suite comprised over 350 products primarily across the personal care, healthcare and performance oils, lubricants and process and insulating oils divisions under the “Divyol” brand.

Gandhar is India’s largest manufacturer of white oils by revenue in Financial Year 2022, including domestic and overseas sales and is one of the Top-5 players globally in terms of market share in the calendar year 2021.

The company has 3 main business divisions:

  • Personal care, healthcare and performance oils (PHPO): White oils, waxes and jellies.

  • Lubricants:Automotive oils and industrial oils.

  • Process and insulating oils (PIO): Transformer oils and rubber processing oils.

As of June 30, 2022, their products were sold in over 100 countries across the globe. The company served more than 3500 clients including companies like Procter & Gamble (“P&G”), Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj Consumer Care, Emami and Amrutanjan Healthcare.

Gandhar Oil Refinery IPO
Gandhar Oil Refinery IPO

Gandhar Oil Refinery IPO- industry overview 

 

The global specialty oil market is characterized by a large product mix and a wide variety of applications across multiple end-user industries. Overall market growth is driven by increasing demand across multiple products that in turn is gaining from the positive outlook of end-user industries. For instance, white oil market demand benefits from growth in pharmaceuticals & personal care products, while transformer oil demand benefits from the transmission & distribution industry.

Further, industrial oil demand is significantly driven by the rising focus on the domestic manufacturing sector. Also, automotive oil benefits from rising transport needs, improving income levels and improving road infrastructure. Overall, these industries mainly drive the sectoral demand of the specialty oil sector.

Global specialty oil to reach $149 billion by 2027 The global specialty oil market value, estimated at $125.99 billion in 2022, is expected to grow to $148.7 billion by 2027, at a CAGR of 3.4%. The specialty oil market is estimated to create an absolute incremental opportunity of ~$23 billion over the next five years driven by increasing consumption of specialty oils in different end-use industries such as consumer, pharmaceuticals, automotive, manufacturing, power generation, and others.

 Gandhar Oil Refinery (India) Financial Performance

 

 

FY 2021

FY 2022

FY 2023

Q1 FY 2024

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

Amount in ₹ Crores

 

Gandhar Oil Refinery (India) Valuations & Margins

 

FY 2021

FY 2022

FY 2023

EPS

12.54

18.42

23.77

PE ratio

RONW (%)

24.77

32.54

32.28

NAV

55.60

70.09

95.03

ROCE (%)

29.37

42.10

41.19

EBITDA (%)

6.25

6.94

7.76

Debt/Equity

0.18

0.28

0.22

 

Gandhar Oil Refinery IPO -Competitive 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;

Gandhar Oil Refinery IPO- Object Of The Issue

 

  • Investment in Texol by way of a loan for financing the repayment/pre-payment of a loan facility availed by Texol from the Bank of Baroda;

  • Capital expenditure through purchase of equipment and civil work required for

    • Expansion in capacity of automotive oil at the company’s Silvassa Plant;

    • Expansion in the capacity of petroleum jelly and accompanying cosmetic product division at the company’s Taloja Plant; and

    • Expansion in capacity of white oils by installing blending tanks at the company’s Taloja Plant;

  • Funding working capital requirements of the Company; and

  • General corporate purposes.

Gandhar Oil Refinery India IPO Peer Comparison

 

S. No. Face Value Company Name PE
1 2 Savita Oil Technologies Ltd 8.25
2 10 Apar Industries Ltd 25.71
3 2 Panama Petrochem Ltd 9.49
4 10 Galaxy Surfactants Ltd 35.37
5 10 Privi Speciality Chemicals Ltd 47.21
6 2 Rossari Biotech Ltd 42.00

Gandhar Oil Refinery IPO GMP Today

 

IPO GMP

Kostak

Subject to Sauda

52

Gandhar Oil Refinery IPO Allotment Status

 

Gandhar Oil Refinery IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.

Gandhar Oil Refinery (India) Offer Lead Manager

ICICI SECURITIES LIMITED
ICICI Venture House, Appasaheb Marathe Marg
Prabhadevi, Mumbai 400 025, Maharashtra
Phone: +91 22 6807 7100
Email: gandharoil.ipo@icicisecurities.com
Website: www.icicisecurities.com

 

 

Gandhar Oil Refinery (India) Offer Registrar

LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: gandharoil.ipo@linkintime.co.in
Website: www.linkintime.co.in

Gandhar Oil Contact Details

GANDHAR OIL REFINERY (INDIA) LIMITED
18th floor, DLH Park, S.V. Road,
Goregaon (W), Mumbai 400 062, Maharashtra
Phone: +91 22 4063 5600
Email: investor@gandharoil.com
Website: www.gandharoil.com

2023-10-13 (4)

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