Gandhar Coals & Mines Private Limited has announced the acquisition of 50,000 equity shares in gandhar oil refinery (India) Ltd through an open market transaction completed on March 20, 2026. The acquisition was disclosed under Regulation 29(2) of SEBI (Substantial Acquisition of Share and Takeover) Regulation, 2011.

Transaction Details

The share acquisition represents a strategic move by the promoter group company to increase its stake in the oil refinery. The transaction details are summarized below:

Shareholding Pattern Changes

The acquisition has resulted in a marginal increase in Gandhar Coals & Mines' shareholding percentage in the target company:

Company Capital Structure

Gandhar Oil Refinery (India) Ltd maintains a stable equity structure with no changes to its share capital following this transaction. The company's equity share capital remains at Rs. 19,57,59,060, consisting of 9,78,79,530 equity shares with a face value of Rs. 2.00 each, all fully paid.

Regulatory Compliance

The disclosure was made in accordance with SEBI regulations, with formal notifications sent to:

• BSE Limited (Corporate Relationship Department)
• National Stock Exchange of India Limited
• Gandhar Oil Refinery (India) Ltd (Company Secretary & Compliance Officer)

The transaction documentation was signed by Saurabh Ramesh Parekh, Whole Time Director of Gandhar Coals & Mines Private Limited, bearing DIN: 02907808. The acquisition reflects the promoter group's continued interest in maintaining and gradually increasing its stake in the oil refinery operations.

Gandhar Oil Refinery India Ltd has released its quarterly financial results while providing a comprehensive update on operational challenges stemming from ongoing geopolitical tensions in the Middle East. The company, which is the largest manufacturer of white oils in India and among the top five players globally, operates manufacturing facilities across three locations with a combined annual installed capacity of 597,403 KL.

Financial Performance Overview

The company's latest financial results demonstrate resilience despite challenging market conditions:

Overseas sales constitute approximately 45% of the company's consolidated sales, highlighting its significant international presence across 100+ countries.

Operational Challenges and Market Pressures

Gandhar Oil Refinery has outlined several key risks affecting its operations due to current geopolitical developments:

The company's UAE facility, a 50.1% subsidiary located in Sharjah, maintains optimum inventory levels and continues domestic sales operations, though extended conflict could impact raw material supplies.

Strategic Pricing and Supply Chain Adaptations

The company has implemented comprehensive mitigation strategies to address these challenges. Gandhar maintains adequate inventory levels following established policies to cater to foreseeable future orders. The company leverages index-linked pricing mechanisms and pass-through contracts, enabling price adjustments to customers when base oil costs increase. Regular price list revisions help manage cost fluctuations effectively.

For forex risk management, the company employs established policies and benefits from natural hedging through overseas sales operations. Additionally, Gandhar has broadened its supplier base across additional geographical locations and maintains long-term contracts with suppliers using mutually agreed pricing formulas.

Management Outlook

The company expressed confidence in its risk management framework's ability to ensure operational continuity and growth despite geopolitical uncertainties. Management emphasized their commitment to transparent stakeholder communication and continuous monitoring of the evolving situation, with plans to share any material developments as they occur.