Gandhar Oil Refinery (India) Limited (GANDHAR) - Net Assets
Based on the latest financial reports, Gandhar Oil Refinery (India) Limited (GANDHAR) has net assets worth Rs13.43 Billion INR (≈ $145.28 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs21.97 Billion ≈ $237.57 Million USD) and total liabilities (Rs8.53 Billion ≈ $92.29 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check asset resilience ratio of Gandhar Oil Refinery (India) Limited to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Rs13.43 Billion |
| % of Total Assets | 61.15% |
| Annual Growth Rate | 23.66% |
| 5-Year Change | 243.02% |
| 10-Year Change | 464.71% |
| Growth Volatility | 20.97 |
Gandhar Oil Refinery (India) Limited - Net Assets Trend (2013–2025)
This chart illustrates how Gandhar Oil Refinery (India) Limited's net assets have evolved over time, based on quarterly financial data. Also explore GANDHAR current and non-current assets for the complete picture of this company's asset base.
Annual Net Assets for Gandhar Oil Refinery (India) Limited (2013–2025)
The table below shows the annual net assets of Gandhar Oil Refinery (India) Limited from 2013 to 2025. For live valuation and market cap data, see GANDHAR market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | Rs12.89 Billion ≈ $139.39 Million |
+5.34% |
| 2024-03-31 | Rs12.24 Billion ≈ $132.33 Million |
+60.96% |
| 2023-03-31 | Rs7.60 Billion ≈ $82.21 Million |
+35.58% |
| 2022-03-31 | Rs5.61 Billion ≈ $60.64 Million |
+49.22% |
| 2021-03-31 | Rs3.76 Billion ≈ $40.64 Million |
-3.77% |
| 2020-03-31 | Rs3.90 Billion ≈ $42.23 Million |
+1.57% |
| 2019-03-31 | Rs3.84 Billion ≈ $41.58 Million |
+0.68% |
| 2018-03-31 | Rs3.82 Billion ≈ $41.30 Million |
+26.72% |
| 2017-03-31 | Rs3.01 Billion ≈ $32.59 Million |
+32.02% |
| 2016-03-31 | Rs2.28 Billion ≈ $24.68 Million |
+10.79% |
| 2015-03-31 | Rs2.06 Billion ≈ $22.28 Million |
+47.00% |
| 2014-03-31 | Rs1.40 Billion ≈ $15.16 Million |
+38.99% |
| 2013-03-31 | Rs1.01 Billion ≈ $10.90 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Gandhar Oil Refinery (India) Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 2568.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Rs7.91 Billion | 64.00% |
| Common Stock | Rs195.76 Million | 1.58% |
| Other Comprehensive Income | Rs982.04 Million | 7.94% |
| Other Components | Rs3.27 Billion | 26.47% |
| Total Equity | Rs12.36 Billion | 100.00% |
Gandhar Oil Refinery (India) Limited Competitors by Market Cap
The table below lists competitors of Gandhar Oil Refinery (India) Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Platform Turizm Tasimacilik AS
IS:PLTUR
|
$146.91 Million |
|
Nekkar Asa
OL:NKR
|
$146.94 Million |
|
AMREP Corporation
NYSE:AXR
|
$146.95 Million |
|
Tecogen Inc.
NYSE:TGEN
|
$146.97 Million |
|
Binh Dien Fertilizer JSC
VN:BFC
|
$146.83 Million |
|
Entech SE SAS
PA:ALESE
|
$146.73 Million |
|
Source Energy Services Ltd
TO:SHLE
|
$146.72 Million |
|
Dongsung Corporation
KO:102260
|
$146.69 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Gandhar Oil Refinery (India) Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 11,722,110,000 to 12,361,040,000, a change of 638,930,000 (5.5%).
- Net income of 800,320,000 contributed positively to equity growth.
- Dividend payments of 48,930,000 reduced retained earnings.
- New share issuances of 1,630,000 increased equity.
- Other comprehensive income decreased equity by 21,290,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Rs800.32 Million | +6.47% |
| Dividends Paid | Rs48.93 Million | -0.4% |
| Share Issuances | Rs1.63 Million | +0.01% |
| Other Comprehensive Income | Rs-21.29 Million | -0.17% |
| Other Changes | Rs-92.80 Million | -0.75% |
| Total Change | Rs- | 5.45% |
Book Value vs Market Value Analysis
This analysis compares Gandhar Oil Refinery (India) Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.10x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.16x to 1.10x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-03-31 | Rs876.83 | Rs138.73 | x |
| 2014-03-31 | Rs1204.96 | Rs138.73 | x |
| 2015-03-31 | Rs1367.40 | Rs138.73 | x |
| 2016-03-31 | Rs1426.54 | Rs138.73 | x |
| 2017-03-31 | Rs188.33 | Rs138.73 | x |
| 2018-03-31 | Rs238.66 | Rs138.73 | x |
| 2019-03-31 | Rs240.28 | Rs138.73 | x |
| 2020-03-31 | Rs244.06 | Rs138.73 | x |
| 2021-03-31 | Rs47.27 | Rs138.73 | x |
| 2022-03-31 | Rs55.29 | Rs138.73 | x |
| 2023-03-31 | Rs74.11 | Rs138.73 | x |
| 2024-03-31 | Rs119.77 | Rs138.73 | x |
| 2025-03-31 | Rs126.34 | Rs138.73 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Gandhar Oil Refinery (India) Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 6.47%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.05%
- • Asset Turnover: 2.00x
- • Equity Multiplier: 1.58x
- Recent ROE (6.47%) is below the historical average (18.84%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 38.91% | 3.19% | 2.12x | 5.75x | Rs291.52 Million |
| 2014 | 21.96% | 1.78% | 2.26x | 5.44x | Rs167.43 Million |
| 2015 | 14.68% | 1.16% | 2.38x | 5.34x | Rs96.38 Million |
| 2016 | 11.37% | 1.48% | 2.01x | 3.84x | Rs31.24 Million |
| 2017 | 24.65% | 3.42% | 1.96x | 3.68x | Rs441.52 Million |
| 2018 | 16.88% | 2.36% | 2.06x | 3.47x | Rs262.54 Million |
| 2019 | 4.87% | 0.53% | 2.81x | 3.31x | Rs-197.11 Million |
| 2020 | 3.01% | 0.47% | 2.38x | 2.70x | Rs-273.00 Million |
| 2021 | 32.77% | 6.83% | 2.02x | 2.37x | Rs1.05 Billion |
| 2022 | 31.06% | 4.96% | 2.57x | 2.44x | Rs1.14 Billion |
| 2023 | 26.32% | 4.68% | 2.53x | 2.22x | Rs1.18 Billion |
| 2024 | 11.99% | 3.42% | 2.12x | 1.65x | Rs233.00 Million |
| 2025 | 6.47% | 2.05% | 2.00x | 1.58x | Rs-435.78 Million |
Industry Comparison
This section compares Gandhar Oil Refinery (India) Limited's net assets metrics with peer companies in the Oil & Gas Refining & Marketing industry.
Industry Context
- Industry: Oil & Gas Refining & Marketing
- Average net assets among peers: $354,505,883,741
- Average return on equity (ROE) among peers: 18.77%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Gandhar Oil Refinery (India) Limited (GANDHAR) | Rs13.43 Billion | 38.91% | 0.64x | $146.85 Million |
| Bharat Petroleum Corporation Limited (BPCL) | $385.89 Billion | 7.92% | 2.91x | $14.10 Billion |
| Castrol India Limited (CASTROLIND) | $6.04 Billion | 79.61% | 1.33x | $1.98 Billion |
| GP Petroleums Limited (GULFPETRO) | $1.27 Billion | 3.97% | 0.80x | $18.12 Million |
| Hindustan Petroleum Corporation Limited (HINDPETRO) | $309.81 Billion | 8.52% | 2.77x | $8.62 Billion |
| Indian Oil Corporation Limited (IOC) | $690.84 Billion | 10.26% | 2.86x | $21.72 Billion |
| Mangalore Refinery and Petrochemicals Limited (MRPL) | $23.95 Billion | 15.51% | 2.47x | $3.18 Billion |
| Panama Petrochem Limited (PANAMAPET) | $2.49 Billion | 7.11% | 1.00x | $183.06 Million |
| Reliance Industries Limited (RELIANCE) | $1.42 Trillion | 17.25% | 0.83x | $209.40 Billion |
About Gandhar Oil Refinery (India) Limited
Gandhar Oil Refinery (India) Limited manufactures and sells white oils with focus on the consumer and healthcare sectors in India. It offers waxes, and jellies for consumer, healthcare, plastics, chemical, textiles, and fragrance industries; lubricants, including automotive oils and industrial oils for automobile, and industrial machines and equipment; and process and insulating oils comprising t… Read more