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Mumbai – Gandhar Oil Refinery (India) Limited, a key player in the speciality oils manufacturing sector, has announced a significant new business achievement.
The company has formally secured a Rate Contract/Framework Agreement from Bharat Heavy Electricals Limited (BHEL), Jhansi. This agreement is poised to provide a substantial boost to Gandhar Oil’s order book and financial outlook over the coming years.
The core of this new agreement centres on the supply of Transformer Oil. This critical industrial component is essential for various applications within the electrical industry. The contract represents a crucial domestic order for Gandhar Oil, reinforcing its market presence.
The total monetary consideration or size of this order is Rs. 24.60 Crores. This substantial figure underscores the importance of the contract for Gandhar Oil Refinery (India) Limited.
The agreement specifies a clear tenure of two years. A notable term of the contract is that the prices for the Transformer Oil supply will remain on a firm basis throughout this entire two-year period. This firm pricing structure offers Gandhar Oil predictable revenue streams and stability over the contract’s duration.
According to Gandhar Oil Refinery, neither its promoters nor any promoter group entities has any stake in BHEL with regard to governance and transparency. Furthermore, the company explicitly stated that this transaction does not fall within the scope of related party transactions, and thus, it has been conducted at “arm’s length”. This ensures that the deal is fair and transparent for all stakeholders involved.
Following the announcement of this significant contract, Gandhar Oil Refinery’s equity shares registered a modest upward movement on the stock exchanges. As of 25th August 2025, at 16:00:00 IST, the quote value for Gandhar Oil Refinery (India) Limited (INE717W01049) stood at Rs. 151.00.
Gandhar Oil Refinery’s Market Responds with Slight Uptick
This price reflected a gain of 0.64 points, equivalent to a 0.43% increase, from its previous closing price of Rs. 150.36. The shares opened the trading day at Rs. 150.41, showing an initial positive sentiment.
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