Press Release

October 27, 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: Press Release on Un-audited Financial Results (Standalone and Consolidated) for the quarter ended September 30, 2026 (Q2 & 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 Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), please find enclosed herewith press release on Un-audited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30th, 2026 (Q2 & H1 FY27). The said press release will be simultaneously posted on the Company’s website at https://gandharoil.com/investor-relations/disclosure-intimation-to-stock-exchanges/ You are requested to take the same 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 HIGHEST EVER QUARTERLY REVENUE OF ₹1,847 CRORE Q2 &H1 FY27 Financial Results & Business Updates Mumbai, October 27, 2026: Gandhar Oil Refinery (India) Ltd (BSE: 544029) (NSE: GANDHAR) announced its unaudited financial results for the quarter and half year ended 30th September, 2026. Consolidated Financial Highlights (₹ in Cr) Revenue from Operations EBITDA Profit After Tax EPS* +337% +73% +368% +386% 8 7 7 6 0 ,1 4 8 ,1 6 6 8 8 2 0 4 6 8 1 8 6 .3 8 .7 1 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Revenue from Operations EBITDA Profit After Tax EPS* +82% +408% +495% +490% 1 9 2 7 9 ,1 7 5 ,3 2 1 1 9 6 5 6 6 2 9 3 6 3 .6 5 .7 3 H1 FY26 H1 FY27 H1 FY26 H1 FY27 H1 FY26 H1 FY27 H1 FY26 H1 FY27 Manufacturing Sales Volumes Particulars(kl) H1 FY27 H1 FY26 PHPO 1,30,977 1,30,784 Lubricants 62,780 63,848 PIO 36,463 29,551 Channel Partners 33,680 37,341 Total 2,63,899 2,61,524 Key Highlights: • Gross Margin Spread sustained at ₹29,128 per kl, 3.0x year-on-year and in line with Q1 FY27 • Highest-ever quarterly revenue of ₹1,847 crore, up 73% year-on-year • CRISIL reaffirmed A+/Stable and A1 ratings; rated bank facilities to ₹1,014 crore Management Commentary Commenting on the Results,Mr.Aslesh Parekh, Joint Managing Directorsaid: “Q2 FY27 reflects the resilience of our operating model and our ability to execute effectively in a dynamic market environment. We achieved our highest-ever quarterly revenue of ₹1,847 crore, while sustaining healthy gross margin spreads for the second consecutive quarter. Our first-half profit after tax stood at approximately ₹392 crore, nearly 3x the profit reported for the whole of FY26. This performance is underpinned by our sourcing agility, disciplined procurement, prudent inventory management and continued focus on product mix and customer relationships. The quarter presented operational challenges, particularly due to geopolitical developments in West Asia, which impacted base oil availability, pricing and shipping logistics. Our diversified supplier base, established relationships with international suppliers and domestic base oil producers, and responsive supply-chain management helped us maintain continuity of supply to customers. We continued to see strong traction in PIO, with half yearly volumes growing 23% year-on-year, supported by demand from the transformer, power and rubber industries. Lubricants volumes improved sequentially, while in PHPO, we remain focused on addressing changing customer requirements and competitive dynamics. Operational reliability and capacity enhancement remain important priorities. Following the disruption caused by heavy rainfall and flooding at our Silvassa Unit No. 2 in July, we restored operations in early August through the focused efforts of our teams. We also completed a debottlenecking programme during the quarter, strengthening our operating capacity. Looking ahead, we will continue to focus on improving operational efficiency, deepening customer engagement, expanding our presence across geographies and progressing our capacity-expansion plans. With our strong first-half performance, robust internal accruals and a disciplined approach to capital allocation, we are well positioned to support the next phase of growth. The reaffirmation of our credit ratings by CRISIL and enhancement of our rated bank facilities to ₹1,014 crore further strengthen our financial flexibility. While we remain mindful of external uncertainties, our priorities remain clear: build operational resilience, strengthen our market position, move towards higher-value opportunities and deliver sustainable, profitable growth over the long term.” About Gandhar Oil Refinery (India) Ltd: Gandhar Oil Refinery (India) Limited is a known name in the world of specialty oils. Our Company is a leading manufacturer of white oils by revenue with a growing focus on the consumer and healthcare end-industries. We have a diversified customer base. We produce a broad variety of specialty oils and lubricants such as White oils, waxes, jellies, automotive oils, industrial oils, transformer oils and rubber processing oils. Our products are sold under our flagship brand “Divyol”. For more information, visithttps://gandharoil.com/ For further information, please contact: Gandhar Oil Refinery (India) Limited Adfactors PR Ltd Binal Khosla Pratik Shah / Hashika Mutreja Email:investor@gandharoil.com Tel No:9870030585 / 9167753859 Website:https://gandharoil.com/ Email:pratik.shah@adfactorspr.com/ hashika.mutreja@adfactorspr.com