About GANDHAR OIL REFINERY (INDIA) LIMITED Unlisted Shares
GANDHAR OIL REFINERY (INDIA) LIMITED is engaged in the business of Specialty Oils and Lubricants. The company undertakes the manufacturing and marketing of Specialty Oils and Lubricants. The company is now also engaged in the business of Coal, and imports non-coking coal, mainly from Indonesia & South Africa, and supplies it to industries in India including steel, power, cement, paper, etc. The company also works as a consignment stockist and Del-Credere agent for Indian Oil Corporation Limited (IOCL) for the sale of various polymer products. Gandhar Oil Refinery (India) Limited imports raw materials, which is ‘Base oil’ mainly from South Korea and the Middle East for Specialty oils and lubricants products. Additives are purchased from Multi-National Companies in India, and waxes are procured from domestic companies and also imported from China and Thailand. The product range of Specialty oils and lubricants includes Liquid paraffin, industrial oil and greases, transformer oils, automotive lubricants, petroleum jelly, and rubber processing oils under the brand named ‘Divyol’. The company supplies its products to various industries including pharmaceuticals, FMCG, chemicals, steel, rubber, automotive, and power.
INCORPORATION DETAILS
|
CIN |
U23200MH1992PLC068905 |
|
Registration Date |
07 October 1992 |
|
Category/Sub-category of the Company |
Limited by Shares |
|
Address of the Registered office and contact details |
DLH Park, 18 Floor, S. V. Road, Goregaon (West), Mumbai - 400062, Maharashtra Phone: +91-22-4063 5600, |
|
Name, Address and Contact Details of Registrar and Transfer Agent, if any |
Link Intime India Private Limited C-101,1 Floor, 247 Park, Lal Bahadur Shastri Marg, Vikhroli (West), Mumbai-83 Tel No. +91 22 49186200 |
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
|
Name and Description of main products/services |
NIC Code of the product/service |
% to the total turnover of the Company |
|
Petroleum and Oils /Jelly /Paraffin Wax obtained from Bituminous Minerals, Crude |
2710, 2712 and 2713 |
58.14% |
|
Non-Coking Coal |
270119 |
41.85% |
BOARD OF DIRECTORS
Mr. Ramesh Parekh (Chairman & Managing Director)
Mr. Samir Parekh (Whole-time Director)
Mr. Aslesh Parekh (Whole-time Director)
Mr. Raj Kishore Singh (Independent Director)
Ms. Amrita Nautiyal (Independent Director)
PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES
|
Name of the Company |
Subsidiary/Associate |
% of shares held |
|
Gandhar Shipping and Logistics Private Limited |
Subsidiary |
100.00% |
|
Gandhar Global Singapore Pte. Ltd. |
Subsidiary |
100.00% |
|
Gandhar Oil & Energy DMCC |
Subsidiary |
100.00% |
|
Texol Lubritech FZC |
Associate |
50.00% |
SHAREHOLDING PATTERN (As of 31-03-2020)
|
S. No. |
Shareholders’ Name |
Number of shares |
% of total Shares of the company |
|
1 |
Promoter’s Shareholding |
1,40,00,000 |
87.5% |
|
2 |
Public Shareholding |
20,00,000 |
12.50% |
|
|
Total |
1,60,00,000 |
100.00% |
INDUSTRY OUTLOOK
The oil and gas sector plays an important role in making decisions for all the other sections of the economy as it is one of the core industries of India. It is expected that the need for oil and gas will grow more in near future; thereby the sector looks attractive for investment. For that purpose, the Government of India has allowed 100% FDI in many sectors including natural gas, petroleum products, and refineries. India is expected to be one the largest contributors to non-OECD petroleum consumption growth globally. Crude Oil import in India has increased from US$ 70.72 billion in 2016-17 to US$ 101.4 billion in 2019-20. As of 1st April 2021, India’s total installed provisional refinery capacity stood at 250 MMT. In FY20, crude oil production in India stood at 32.2 MMT. In March 2021, the crude oil production stood at 2.6 MMT, while for FY21 it was 30.5 MMT. In FY20, crude oil import increased to 4.54 mbpd from 4.53 mbpd in FY19.
Consumption of Petroleum products in India grew 4.5% to 213.69 MMT during FY 2020 from 213.22 MMT in FY 2019. The export of petroleum products from India increased to US$ 35.8 billion in FY 2020 from US$ 34.9 billion in FY 2019. In FY 2021, petroleum products exported from India stood at 55.9 MMT.
PROFIT & LOSS STATEMENT OF GANDHAR OIL REFINERY (INDIA) LIMITED (In Rs. Crores)
|
PARTICULARS |
2020 |
2019 |
2018 |
|
Revenue from Operations |
2,502.24 |
3,567.53 |
2,747.13 |
|
EBITDA |
61.43 |
70.54 |
130.00 |
|
EBITDA margins |
2.46% |
1.98% |
4.73% |
|
Finance Cost |
48.84 |
47.42 |
45.13 |
|
Depreciation |
10.84 |
7.54 |
9.60 |
|
Other Income |
14.05 |
26.87 |
13.41 |
|
Profit before Exceptional items and Tax, and share of profit from associates |
15.80 |
42.45 |
88.67 |
|
Share of profit from associates |
-1.00 |
0.23 |
-0.10 |
|
Exceptional items |
0.00 |
16.06 |
0.00 |
|
Total Tax |
3.06 |
7.89 |
24.13 |
|
Profit After Tax (PAT) |
11.75 |
18.73 |
64.44 |
|
EPS |
7.34 |
11.71 |
40.28 |
BALANCE SHEET OF GANDHAR OIL REFINERY (INDIA) LIMITED (In Rs. Crores)
|
PARTICULARS |
31st March 2020 |
31st March 2019 |
|
ASSETS |
||
|
NON CURRENT ASSETS |
||
|
Tangible assets |
113.57 |
103.86 |
|
Intangible assets |
14.35 |
1.54 |
|
Financial assets |
3.24 |
2.27 |
|
Tax assets (net) |
1.61 |
0.00 |
|
Other non-current assets |
2.19 |
1.10 |
|
TOTAL NON-CURRENT ASSETS |
134.96 |
108.77 |
|
CURRENT ASSETS |
||
|
Inventories |
184.85 |
252.81 |
|
Trade Receivables |
463.58 |
613.33 |
|
Cash and cash equivalents |
100.23 |
115.23 |
|
Financial assets |
17.42 |
12.36 |
|
Tax assets (net) |
17.91 |
22.65 |
|
Other current assets |
133.61 |
146.03 |
|
TOTAL CURRENT ASSETS |
917.60 |
1,162.41 |
|
TOTAL ASSETS |
1,052.56 |
1,271.18 |
|
EQUITY |
||
|
Share capital |
16.00 |
16.00 |
|
Reserves and surplus |
374.50 |
368.45 |
|
TOTAL EQUITY |
390.50 |
384.45 |
|
NON CURRENT LIABILITIES |
||
|
Long Term Borrowings |
16.11 |
2.51 |
|
Lease liabilities |
11.63 |
0.00 |
|
Long Term Provision |
2.52 |
2.17 |
|
Tax liabilities |
0.00 |
0.68 |
|
TOTAL NON-CURRENT LIABILITIES |
30.26 |
5.36 |
|
CURRENT LIABILITIES |
||
|
Short-term borrowings |
112.19 |
109.17 |
|
Lease liabilities |
3.88 |
0.00 |
|
Trade payables |
479.02 |
705.95 |
|
Other Current Liabilities |
20.23 |
38.96 |
|
Short Term Provision |
0.45 |
0.61 |
|
Other Financial liabilities |
16.04 |
26.67 |
|
Tax liabilities |
0.00 |
0.02 |
|
TOTAL CURRENT LIABILITIES |
631.80 |
881.37 |
|
TOTAL LIABILITIES |
662.06 |
886.73 |
|
TOTAL EQUITY AND LIABILITIES |
1,052.56 |
1,271.18 |
DIVIDEND HISTORY
|
Particulars |
2020 |
2019 |
2018 |
|
Dividend (final + interim) (In Rs.) |
4.50 |
10 |
12 |
|
Retained Earnings (Consolidated) (In Rs. Crores) |
210.91 |
207.90 |
209.02 |
PERFORMANCE OF THE COMPANY
Revenue from Operations of the company decreased by 29.86% from Rs. 3,567.53 Crores in FY 2019 to Rs. 2,502.24 Crores in FY 2020.
EBITDA of the company decreased by 12.91% from Rs. 70.54 Crores in FY 2019 to Rs. 61.43 Crores in FY 2020. However, EBITDA margins improved from 1.98% in FY 2019 to 2.46% in FY 2020.
Profit After Tax of the company significantly reduced by 37.28% from Rs. 18.73 Crores in FY 2019 to Rs. 11.75 Crores in FY 2020.
The current Ratio of the company as of 31st March 2020 was 1.45.
The debt to Equity Ratio of the company as of 31st March 2020 was 0.32.
The company has given a dividend of Rs. 4.50 per equity share for FY 2020.
The book value per equity share of the company as of 31st March 2020 was Rs. 244.0
