About Company’s Business:
The company is recognized as a leading revenue-generating manufacturer of white oils, with an increasing emphasis on the consumer and healthcare sectors, as indicated by the CRISIL Report and detailed in the “Industry Overview – Gandhar Oil Refinery India Ltd.'s positioning” on page 195. As of June 30, 2023, the product portfolio encompasses over 440 items, predominantly spanning personal care, healthcare, performance oils, lubricants, and process and insulating oils divisions under the “Divyol” brand. In the fiscal year 2023, the company emerged as India’s largest white oils manufacturer by revenue, encompassing both domestic and international sales, securing a position among the top five global players in market share for the calendar year 2022.
About the Industry:
The estimated value of the global specialty oil market in 2023 is $129.90 billion, and projections indicate a growth to $154.0 billion by 2028, with a compound annual growth rate (CAGR) of 3.5%. In the Indian specialty oil market, the estimated value is $7.33 billion in 2023, and it is anticipated to reach $9.30 billion by 2028, showing a CAGR of 4.9%. Over the forecast period, the white oil segment is expected to be the fastest-growing, driven by a positive outlook in end-user industries, coupled with an increasing emphasis on product safety and growing awareness of health and hygiene.
Key Financial Information (â‚ą in million):
Certainly, here’s a tabulated summary of the select financial information for your company:
| Particulars | Quarter ended June 30, 2023 | Financial Year 2023 | Financial Year 2022 | Finacial Year 2021 |
|---|---|---|---|---|
| (A) Equity share capital | â‚ą 160.00 | â‚ą 160.00 | â‚ą 160.00 | â‚ą 160.00 |
| (B) Net worth | â‚ą 8,107.93 | â‚ą 7,602.05 | â‚ą 5,607.05 | â‚ą 4,448.25 |
| (C) Revenue from operations (incl. excise) | â‚ą 10,703.35 | â‚ą 40,794.41 | â‚ą 35,433.74 | â‚ą 22,210.01 |
| (D) Restated profit after tax | â‚ą 448.00 | â‚ą 1,901.23 | â‚ą 1,473.58 | â‚ą 1,003.22 |
| (E) Restated basic earnings per share | â‚ą 5.60 | â‚ą 23.77 | â‚ą 18.42 | â‚ą 12.54 |
| (F) Restated diluted earnings per share | â‚ą 5.60 | â‚ą 23.77 | â‚ą 18.42 | â‚ą 12.54 |
| (G) Net Asset Value per share | â‚ą 101.35 | â‚ą 95.03 | â‚ą 70.09 | â‚ą 55.60 |
| (H) Total borrowings* | â‚ą 3,356.17 | â‚ą 1,695.25 | â‚ą 1,581.59 | â‚ą 787.43 |
*Total borrowings represent the sum of current borrowings, non-current borrowings, and the current portion of non-current borrowing.
Note: All values are in â‚ą million, except per share data.
Objective of the Issue:
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Investment into Texol by way of a loan for financing the repayment/pre-payment of a loan availed by Texol from the Bank of Baroda.
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Capital expenditure through purchase of equipment and civil work required for expansion in capacity of automotive oil at our Silvassa Plant.
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Funding working capital requirements of our Company.
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General corporate purposes.
For more detailed information, you can refer to the IPO Prospectus (RHP) filed by the company.
| Important information regarding the IPO | |
|---|---|
| Open Date | Wednesday, November 22, 2023 |
| Close Date | Friday, November 24, 2023 |
| Issue Size | â‚ą500.69 Crores |
| Price | â‚ą160 to â‚ą169 per share |
| Lot Size | 88 Shares |
| Basis of Allotment | Thursday, November 30, 2023 |
| Initiation of Refunds | Friday, December 1, 2023 |
| Credit of Shares to Demat | Monday, December 4, 2023 |
| Listing Date | Tuesday, December 5, 2023 |
How to apply for this IPO?
You can locate the redirection link to the IPO on the home screen of the Dhan App. Alternatively, you can access it by navigating to the “Money” Section at the bottom right and swiping right to reach the “IPO” Tab.
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