Gandhar Oil Refinery (India) Limited reported consolidated results for the fourth quarter and full year ended March and presented figures in million (mn). Consolidated revenue for the quarter rose to Rs 10,934 mn, up 14 per cent year on year, while full year revenue reached Rs 42,412 mn. Quarterly earnings before interest, tax, depreciation and amortisation were Rs 636 mn, representing an 88 per cent increase, and consolidated profit after tax for the quarter was Rs 370 mn, up 201 per cent. Earnings per share for the year were Rs 13.8 compared with Rs 8.2 previously.

Manufacturing sales volumes for the year were 545,755 kilolitre (KL), an increase of nine per cent from 500,231 KL a year earlier. The company said domestic demand remained sustained and the strategic focus on higher margin paraffin and hydrogenated products supported growth. Operational efficiencies and a favourable product mix contributed to improved profitability across segments, the statement added.

For the full year the PHPO segment led the revenue mix, contributing 48 per cent of consolidated revenue, while lubricants accounted for 27 per cent. Channel partners represented 14.81 per cent and the PIO business contributed 10.19 per cent. The company described strong demand from the personal care and healthcare sectors as key to PHPO growth and noted continued focus on its flagship brand Divyol and a diversified customer base as supporting factors.

The joint managing director said the company delivered a strong close to the year despite a challenging global environment marked by macroeconomic pressures, logistical constraints and geopolitical volatility that at times pushed up oil prices. Management indicated that anticipated easing of international logistical constraints and stabilising input costs are expected to support near to medium term momentum, while also noting it will remain cautious and watchful. The release included a standard forward looking statement on risks and uncertainties.