Gandhara Oil Share: There was a rush to buy shares of Gandhar Oil on Monday after receiving an order from Abu Dhabi Oil Company. On the first trading day of the week, the stock traded at Rs. closed at 214.20. Representing an increase of 2.51% from a day ago. Let us tell you that during the trading, the share price reached to Rs 222.90. On November 30, 2024, the share was Rs. It touched a 52-week high of 344.60. In June 2024, the share price was Rs 182.55. The stock is at a 52-week low.
Order details
The company’s overseas subsidiary, TEXOL Lubritech FZC, has received an order from Abu Dhabi National Oil Company (ADNOC). The scope of the order includes manufacturing, packaging, labeling and making the products available for ADNOC distribution on a contractual basis. The value of this order is approximately $45 million annually, which is equivalent to approximately ₹375 crore per year. This agreement is for three years. Let us tell you that Gandhar Oil Refinery is a company engaged in the business of specialty oils like Liquid Paraffin, Grease, Automotive Lubricants, Petroleum Jelly and Rubber Processing Oil.
The IPO came in at ₹169
Shares of Gandhar Oil entered the stock market in November 2023 at an IPO price of ₹169. The listing price of gandhara oil was ₹298. The share was listed at a 76% premium to its issue price of ₹298. However, after touching an all-time high of ₹344, the stock is now trading 35% below that level.
Gandhara oil results
As for March quarter results, Gandhar Oil’s net sales fell 4.81% to Rs. 939.24 crore has been done. In the March 2023 quarter, it was Rs. 986.68 crores. Profit during the quarter fell 58.8% to Rs. 9.14 crore has been made. March 2023 quarter profit Rs. 22.19 crores. Ebitda fell by 27.36% in the March 2024 quarter to Rs. 38.39 crores.