Domino effect: Gandhar Oil’s 20% upper circuit spurs rally in Savita Oil and Panama Petro. Here’s why

Gandhar Oil Refinery hit a 20 percent upper circuit after reporting a strong Q1, with revenue nearly doubling year-on-year to about Rs 1,732 crore (up 92 percent) and EBITDA soaring over 500 percent to Rs 281 crore. EPS jumped 633 percent to Rs 19.65, driven by the PHPO segment and strong demand from personal care, healthcare, and pharmaceutical sectors. The blockbuster results spilled over to peer stocks Savita Oil and Panama Petro, lifting the broader lubricants and specialty oils segment.