| Gandhar Oil Refinery (India) Limited was incorporated as a private limited company with the name Gandhar Oil Refinery (India) Private Limited' on October 7, 1992. The Company became a deemed public limited company with effect from July 1, 1996, consequent to which the name of the Company was changed to Gandhar Oil Refinery (India) Limited' on January 22, 1997. Subsequently, the Company converted into a private limited company with effect from December 13, 2002, consequent to which name of the Company was changed to Gandhar Oil Refinery (India) Private Limited' on January 6, 2003. Further, name of the Company changed to Sunoco Industries Private Limited' on March 16, 2004. Thereafter, name of the Company changed to Gandhar Oil Refinery (India) Private Limited' on July 25, 2005. The Company was subsequently converted into a public limited company, consequent to which name of the Company was changed to Gandhar Oil Refinery (India) Limited' on August 22, 2005.
The Company is a leading manufacturer of white oils by revenue with a growing focus on the consumer and healthcare end-industries. is amongst the most well diversified players in the speciality oils and lubricants sector with wide range of offerings catering to varied industries. The range of speciality oils and lubricants include liquid paraffin, industrial oil and greases, transformer oils, automotive lubricants, petroleum jelly and rubber processing oils which the company sells under its flagship brand 'Divyol' The Company's business is categorised into two key segments, (a) petroleum products segment includes manufacturing of speciality oils and lubricants products; and (b) non-coking coal and logistics support services segment includes procurement of non-coking coal from outside India for domestic customers and supplying them through its logistics support services.
The Company currently operate 3 manufacturing facilities with a combined annual production capacity of 497,403 kL as of June 30, 2022. The manufacturing facilities also have modern research and development centres equipped with stabinger viscometer SVM 4001, automatic mini AV instrument, automatic mini AV instrument, spectrum two FT-IR spectrometers, crank case viscometer, TNTS (Total Nitrogen, Total Sulphur), HTHS tapered bearing simulator and oil insulation test kit BDV apparatus to offer customized formulations, while ensuring quality consistency for their products. Further, the research and development centre at Silvassa facility has been recognized as in-house R&D unit by the Department of Scientific and Industrial Research, Ministry of Science and Technology.
The manufacturing facilities at Taloja and Silvassa is ISO 14001:2004 and ISO 9001:2008 certified for manufacture of certain of speciality oils and lubricants products, reflecting its commitment towards quality and sustainable environment. In addition, the Taloja facility is GMP certified for good manufacturing practices system for the manufacture of products including light and heavy liquid paraffin and white petroleum jelly and its Silvassa facility is OHSAS 18001:2007 certified in relation to occupational health and safety management systems for its products. The products are manufactured to maintain international quality and are approved by various authorities, including FDA (Government of Maharashtra and UT of Dadra and Nagar Haveli) for products including liquid paraffin and petroleum jelly and BIS for new insulating oils (commonly known as transformer oil). The products also undergo testing at various laboratories, including ERDA and CPRI.
The Company commissioned an incremental capacity of 25,000 kL in October 2022. During the FY 2022, the Company sold the coal-trading business through a slump sale and divested its shareholding in Gandhar DMCC to GCMPL pursuant to a share purchase agreement dated March 30, 2022.
The Company formed a joint venture agreement dated June 22, 2017 with ESPE Petrochemicals FZC (ESPE) for the establishment of Texol Lubritech FZC, a joint venture which became the Subsidiary of the Company effective from March 30, 2022. |