India's Numaligarh Refinery is set to achieve a major milestone with plans to expand its capacity to 180,000 barrels per day (BPD) by the end of 2026. This significant expansion project represents a substantial investment in the country's petroleum refining infrastructure and energy security capabilities.

Expansion Details

The refinery's capacity enhancement to 180,000 BPD marks a strategic development in India's energy sector. This expansion will significantly boost the facility's processing capabilities and contribute to meeting the country's growing energy demands.

Strategic Significance

The planned expansion of Numaligarh Refinery aligns with India's broader energy infrastructure development goals. Oil India 's involvement in this project underscores the strategic importance of enhancing domestic refining capabilities to support the nation's energy requirements.

Timeline and Implementation

With the target completion date set for the end of 2026, the expansion project represents a multi-year commitment to upgrading India's refining infrastructure. The 180,000 BPD capacity will position Numaligarh Refinery as a significant contributor to the country's petroleum processing sector.

This capacity expansion initiative reflects the ongoing efforts to strengthen India's energy independence and industrial capabilities in the petroleum refining domain.

Gandhar Oil Refinery (India) Ltd delivered robust financial performance in the third quarter of FY26, reporting significant growth across key metrics driven by strong domestic demand and strategic focus on high-margin products.

Financial Performance Highlights

The company's quarterly results demonstrated strong operational efficiency with substantial improvements in profitability and revenue generation.

Revenue from operations for Q3 FY26 stood at ₹1,167 crore, representing sequential growth from ₹1,059.9 crore reported in Q2 FY26. The company's EBITDA margin improved to 5.0% from 4.2% in the corresponding quarter of the previous year, reflecting enhanced operational efficiency.

Nine-Month Performance Overview

The company's nine-month performance for the period ending December 31, 2025 showcased consistent growth momentum across operational and financial parameters.

Revenue Composition and Product Mix

The company's diversified product portfolio demonstrated balanced contribution across segments, with PHPO products maintaining leadership position.

PHPO remained the leading revenue contributor, accounting for 50% of total revenue, driven by strong traction in personal care and healthcare applications. This strategic focus on high-margin PHPO products supported the company's improved profitability metrics.

Management Commentary

Aslesh Parekh, Joint Managing Director, highlighted the company's resilient performance despite challenging external conditions. He emphasized the sustained domestic demand and strategic focus on high-margin PHPO products as key drivers of the strong Q3 FY26 performance. The management expressed optimism about domestic demand trends and expected steady improvement in international logistics operations.

Market Performance

Shares of Gandhar Oil Refinery (India) Ltd closed at ₹163.15 on the BSE, gaining ₹4.00 or 2.51% during the trading session, reflecting positive investor sentiment following the strong quarterly results.