Investor Presentation on the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2026

July 22, 2026 Listing Compliance Department Listing & Compliance Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor Dalal Street, Mumbai – 400001 Plot No. C/1, “G” Block BSE Scrip Code: 544029 Bandra-Kurla Complex Bandra (E), Mumbai – 400 051 Symbol: GANDHAR Subject: Investor Presentation for the Quarter ended June 30th, 2026 (Q1 FY 2026-27) Ref: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) Dear Sir(s)/Madam(s), Pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, we enclose herewith the Investor Presentation on the Un-Audited Financial Results (Standalone and Consolidated) for the quarter ended June 30th, 2026. The said Investor’s Presentation will be simultaneously posted on the Company’s website at https://gandharoil.com/investor-relations/presentations/ You are requested to take the above information on record. Thanking you. Yours Faithfully, For Gandhar Oil Refinery (India) Ltd Binal Khosla Compliance Officer and Company Secretary Mem. No.: A29802 Encl: As above INVESTOR PRESENTATION Q1 FY27 – July - 2026 DISCLAIMER Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Gandhar Oil Refinery (India) Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. This presentation contains certain forward looking statements concerning the Company’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the Company. Business Update - Q1FY27 Title Slide Highest Ever Quarterly Performance Q1 FY27 REVENUE GROSS PROFIT EBITDA PAT ₹281 Cr ₹206 Cr ₹1,732 Cr ₹371 Cr +171% QoQ +342% QoQ +456% QoQ +58% QoQ +92% YoY +266% YoY +512% YoY +689% YoY EPS GP MARGIN EBITDA MARGIN PAT MARGIN ₹ 19.65 21.4% 16.2% 11.9% +373% QoQ +890 bps QoQ +1,040 bps QoQ +850 bps QoQ +633% YoY +1,020 bps YoY +1,110 bps YoY +900 bps YoY KEY TAKEAWAYS • Gross Margin Spread expanded 3.4x year-on-year to ₹28,145 per kl compared to Q1 FY26 • Volumes for the quarter improved 8% year-on-year to 1,31,449 kl • Declared Interim Dividend 100% of Face Value Building Momentum, Delivering Sustainable Value We are pleased to announce the strongest quarter in the history of Gandhar Oil Refinery (India) Ltd., with the Company reporting its highest-ever quarterly net profit, crossing ₹200 crore. This record performance was driven by healthy revenue growth and robust gross margin spreads despiteoperatingin a dynamic and challenging external environment. The operating environment during the quarter remained dynamic, shaped by geopolitical developments in West Asia, crude oil price volatility, and periodic supply chain disruptions. Our ability to respond swiftly through agile sourcing, prudent inventory management, and a favourable product mix translated into strong financial performance. Consolidated Revenue increased 92% year-on-year to ₹1,732 crore, while Gross Margin Spread expanded 3.4x year- on-year to ₹28,145 per kl compared to Q1 FY26. Ourstrong performancewas supported by healthy demand across key end-user industries and sustained momentum across product categories. Continued focus on value-added offerings, efficient procurement practices, and cost optimisation initiatives enabled us to achieve superior margins while also supporting volume growth. The PHPO segment continued to anchor our growth, driven by sustained demand from the personal care, healthcare, and pharmaceutical sectors. The quarter alsowitnessedencouraging traction in the PIO business, reflecting healthy demand acrosstransformer, power & rubber manufacturers.While growth in the Lubricants segment remainedlargely stable, it continued to contribute meaningfully to our diversified business mix. Supported by growing export presence and stronger engagement with marquee customers, the Company sustained positive business momentum throughout the quarter. While weremainwatchful of global macroeconomic developments and geopolitical uncertainties, the underlying“ Mr. Aslesh Parekh demand environment continues to remain encouraging. With a strong business foundation, a customer-centric approach, and an unwavering focus on operational excellence, weremainconfident in our ability to sustain profitable Joint Managing Director growth and create long-term value for all stakeholders Gandhar Oil Refinery (India) Ltd Company Overview India's Leading Manufacturer of Specialty Oils Offering a diversified portfolio of value-added products across leading players in healthcare, personal care, automotive and industrial applications through globally certified manufacturing facilities. 30+ Years #1* Top 5* 10+ White oil player in Global white oil Diversified End Experience India manufacturer Markets 4,000+ 100+ 3 597,403 kL Integrated Long-standing Countries Served Manufacturing Total Installed Capacity customer relationships Network *Source: Crisil Repot in FY23 A Business Built to Compound Resilient business model Index-linked pricing, with a diversified 4,000+ customer base, with an effectively debt-free balance sheet Trusted partner to marquee brands Scale & capital intensity High customer stickiness driven by lengthy 597,403 kL across three plants in India and the UAE — qualification cycles, bespoke formulations replicating this footprint requires significant capital and and established multi-year partnerships long lead times with marquee brands, a process that can take 4–5 years for a new supplier Global reach, local presence Regulatory approvals 100+ countries served, with UAE manufacturing US FDA, WHO-GMP and FSSAI approvals gate providing proximity to export markets and a natural access to regulated pharmaceutical and food- currency hedge contact end-markets; these are slow and costly affair Direct supplier access Long-standing relationships with leading global base-oil suppliers, with Index-linked pricing — difficult for sub-scale entrants to secure The combination of scale, relationships and execution creates a high-entry-barrier business that i [Showing first 8,000 characters — download PDF for full document]