Shares of Gandhar Oil Refinery (India) Ltd were about 7% on Tuesday, 22 April, after the company signed a Memorandum of Understanding (MoU) with the Jawaharlal Nehru Port Authority to explore terminal development at Vadhvan port. 

The business stated in an exchange filing on Monday that it and Jawaharlal Nehru Port Authority signed a non-binding Memorandum of Understanding on 21 April 2025. This is done in order to contribute to the construction of a terminal at Vadhvan Port that will handle bulk, liquid, and container goods. 

Additionally, infrastructure will be built to support maritime services, intermodal connectivity, and the sustainability of the ecosystem as a whole. 

According to Gandhar Oil’s exchange filing, the project is expected to start in 2030 with an estimated cost of Rs 1,000 crore. “Further, the development is subject to a transparent competitive bidding process; on successful acceptance of the bid, a binding MoU or definitive agreement will be executed at a later date.”

In terms of revenue, the company is the leading manufacturer of white oils, with a growing concentration on the consumer and healthcare markets. It is one of the most diverse players in the speciality oils and lubricants market, delivering a wide range of products to a variety of industries.  

The company’s flagship brand, Divyol, supplies a wide range of speciality oils and lubricants, including liquid paraffin, industrial oil and greases, transformer oils, automobile lubricants, petroleum jelly, and rubber processing oils.

At 1:49 pm, the shares of Gandhar Oil were trading 4.50% higher at Rs 158.30 on NSE.

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