Gandhar Oil Refinery (India) Ltd has fixed July 31, 2026, as the record date for its interim dividend of ₹2 per equity share, payable to shareholders registered in the depositories or register of members on that day. The Board of Directors declared the dividend at its meeting on July 22, 2026, following a record quarterly net profit of ₹206 crore for Q1 FY27. This distribution represents 100% of the face value and is subject to Tax Deduction at Source (TDS) as per the Income-tax Act, requiring shareholders to submit updated tax documents by the record date to avoid higher withholding rates.

The dividend announcement follows a strong financial performance where consolidated revenue from operations surged 92% to ₹1,732 crore, driven by a significant expansion in gross margin spread to ₹28,145 per kilolitre. The company’s net profit jumped 689% year-on-year to ₹206 crore from ₹26 crore in Q1 FY26. Consolidated EBITDA also rose sharply to ₹281 crore (₹2.8 billion), reflecting an improved EBITDA margin of 16.27% compared to 5.83% in the prior year period. These operational gains provided the cash flow necessary to support the interim payout while maintaining robust balance sheet metrics.

Dividend Payment and TDS Compliance

Shareholders are required to update their Permanent Account Number (PAN) and other tax-related documents with their Depository Participants or the Registrar and Transfer Agents, MUFG Intime India Private Limited, by July 31, 2026. Failure to provide valid PAN details will result in TDS being deducted at a higher rate of 20% under Section 397(2) of the Income-tax Act. For resident individuals, the standard TDS rate is 10%, unless the dividend amount does not exceed ₹10,000, in which case no tax is deducted. Shareholders eligible for exemptions must submit Form 121 or relevant certificates before the deadline.

Non-resident shareholders face a default TDS rate of 20% plus applicable surcharge and cess, unless they claim benefits under Double Taxation Avoidance Agreements (DTAA). To avail lower treaty rates, non-residents must submit a valid Tax Residency Certificate (TRC), Form No. 41 filed online, and a self-declaration confirming beneficial ownership and absence of a Permanent Establishment in India. Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs) must adhere to similar documentation requirements to ensure correct withholding tax application.

Operational and Corporate Updates

The financial strength supporting the dividend was bolstered by increased manufacturing volumes, which rose 8% year-on-year to 1,31,247 kilolitres. The Premium High Pouring Oil (PHPO) segment remained the primary growth driver with volumes reaching 68,815 kilolitres, while the Lubricants segment contributed 30,073 kilolitres. Management attributed the performance to agile sourcing strategies and favorable product mix despite global supply chain disruptions.

In corporate governance developments, the Board reconstituted the Risk Management Committee, appointing Shyam Chandrabhan Agrawal as Chairman to replace Deena Mehta. Agrawal was also appointed as an Additional Non-Executive Independent Director for a five-year term. The 34th Annual General Meeting is scheduled for September 11, 2026, via Video Conferencing. The unaudited results were reviewed by statutory auditor M/s. K J K & Associates in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Gandhar Oil Refinery disclosed on July 24, 2026, that its manufacturing plant in Silvassa, Dadra & Nagar Haveli, has been affected by flood-like conditions due to unprecedented heavy rainfall. Management is currently evaluating the extent of damage to assets and operations, while appropriate measures are being taken to restore normal functioning at the earliest possible time. This disruption poses immediate uncertainty for production schedules at the facility, though the company maintains that adequate insurance coverage is in place to mitigate potential financial losses.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the SEBI circular bearing reference number HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. This regulation mandates listed entities to inform stock exchanges of any disruption in operations caused by natural calamities such as floods.

Operational Impact and Assessment

The flooding occurred after Silvassa received extremely heavy rainfall over a 48-hour period, causing severe waterlogging across several parts of the area. The specific facility affected is Unit No. 2, located at Plot No. 2, Survey No. 678/1/3, Village Naroli, Silvassa (D & N H)- 396230, U.T., Gujarat. The Company will continue to keep the stock exchanges informed of any material developments in accordance with the SEBI (LODR) Regulations, 2015.

The following table summarises the key details of the incident:

Insurance Coverage

The Company confirmed that it has adequate insurance coverage for the incident, and the event has been formally intimated to the insurance company. While the financial quantum of loss or damage has not yet been quantified, the existence of insurance coverage indicates that potential financial impacts may be mitigated subject to policy terms.

Regulatory Compliance

The intimation was signed by Binal Khosla, Company Secretary & Compliance Officer (Mem. No.: A29802), and submitted to both the Bombay Stock Exchange and the National Stock Exchange of India Limited. The filing ensures transparency regarding the force majeure event affecting one of the Company's key manufacturing units.