Arabian Petroleum Limited (ARABIAN)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Arabian Petroleum's revenue was ₹232 Cr (+58.9% year on year, +27.5% on the previous half-year), and net profit ₹5.0 Cr (+25.0% year on year); the operating margin was 3.9%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹232 | +58.9% | +27.5% |
| Operating profit | ₹9.0 | +12.5% | +0.0% |
| Net profit | ₹5.0 | +25.0% | -16.7% |
| EPS (₹) | 4.84 | +18.3% | -11.4% |
| Operating margin | 3.9% | — | — |
ARABIAN delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 85.71% of the ARABIAN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 87.33%. That is close to its usual level. Turnover was only ₹29 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 100.0% · 66.7% · 100.0% · 88.9% · 85.7%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Arabian Petroleum Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the period ended September 30, 2026. The certificate, issued by its Registrar and Share Transfer Agent Purva Sharegistry (India) Pvt. Ltd., confirms the processing of dematerialisation requests. During the quarter from July 1, 2026, to September 30, 2026, zero (NIL) share certificates were dematerialised. This is a standard quarterly regulatory submission with no impact on business operations.
- Compliance certificate submitted under Regulation 74(5) for the period ended September 30, 2026
- Issued by Registrar and Share Transfer Agent Purva Sharegistry (India) Pvt. Ltd. on October 1, 2026
- Details of shares dematerialised between July 1, 2026, and September 30, 2026 reported as NIL
Arabian Petroleum Limited concluded its 17th Annual General Meeting on September 28, 2026, passing all four agenda resolutions with 100% of polled votes in favour. A total of 80,13,000 votes were cast across 8 participating members, representing 73.57% of total outstanding shares (1,08,92,000 shares). The approved agenda included adoption of FY26 standalone and consolidated financial statements, re-appointment of Executive Director Mr. Dharman Manoj Mehta, and approval of Material Related Party Transactions. Public non-institutional voting participation was low at 0.98% of their holdings.
- All 4 resolutions passed with 100% of polled votes cast in favour
- Overall voter turnout stood at 73.57% (80,13,000 votes out of 1,08,92,000 total shares)
- Promoter group polled 79,85,000 votes (99.81% of their 80,00,000 shareholding)
- Public non-institutional shareholders cast 28,000 votes out of 28,62,000 shares (0.98% participation)
- Approved approval of Material Related Party Transactions and reappointment of Executive Director Dharman Manoj Mehta
Arabian Petroleum concluded its 17th Annual General Meeting on September 28, 2026. Shareholders approved ordinary business, including the adoption of standalone and consolidated financial statements for FY26 (ended March 31, 2026). Additionally, resolutions for the reappointment of Whole Time Director Mr. Dharman Manoj Mehta and approval of material related party transactions were cleared with requisite majority. Detailed voting tallies and Scrutinizer's report will follow separately.
- 17th AGM concluded on September 28, 2026, running from 09:30 AM to 09:54 AM
- Adopted audited standalone and consolidated financial statements for FY ended March 31, 2026
- Approved reappointment of Whole Time Director Mr. Dharman Manoj Mehta (DIN: 07821311)
- Approved resolutions regarding material related party transactions
Arabian Petroleum Limited has issued the notice for its 17th Annual General Meeting scheduled for September 28, 2026, via video conferencing, alongside its FY25-26 Annual Report. In the report, the company highlighted consolidated FY26 revenue growth of 44.9% to ₹413.27 crore and net profit growth of 23.5% to ₹11.22 crore (EPS of ₹10.30). Standalone revenue grew 31.6% to ₹375.42 crore, while consolidated EBITDA margin compressed to 4.9% due to higher institutional/tender volume mix and early-stage subsidiary costs. The company noted DRDO technology transfers and expansion into specialty and defence-grade lubricants.
- 17th Annual General Meeting scheduled for September 28, 2026, at 09:30 AM via VC/OAVM
- Consolidated FY26 revenue from operations rose 44.9% year-on-year to ₹413.27 crore
- Consolidated FY26 PAT grew 23.5% to ₹11.22 crore with EPS improving to ₹10.30
- Consolidated EBITDA reached ₹20.11 crore with EBITDA margin moderating to 4.9%
- Debt-to-equity ratio stood at 0.69 as of March 31, 2026, compared to 0.48 in FY25
Arabian Petroleum Limited released its FY26 investor presentation highlighting consolidated revenue growth of 44.9% YoY to ₹413.27 Cr compared to ₹285.25 Cr in FY25. Consolidated EBITDA rose 15.6% YoY to ₹20.11 Cr, while PAT grew 23.5% YoY to ₹11.22 Cr, though EBITDA margins contracted from 6.10% to 4.87%. The company operates a 48,000 KL per annum manufacturing capacity and is scaling its presence via Dubai-based trading subsidiary Arzol Petroleum (which achieved break-even in FY26) and Lavisa Technologies for specialty metalworking lubricants.
- FY26 consolidated revenue rose 44.9% YoY to ₹413.27 Cr (₹41,327.37 Lakhs) from ₹285.25 Cr in FY25
- Consolidated FY26 PAT grew 23.5% YoY to ₹11.22 Cr with an EPS of ₹10.30
- Consolidated EBITDA margin compressed to 4.87% in FY26 from 6.10% in FY25
- Installed manufacturing capacity stands at 48,000 KL p.a. with 2,000 KL base-oil storage capacity
- Wholly owned Dubai subsidiary Arzol Petroleum Trading FZE achieved break-even in FY26 with profitability targeted from FY27
Arabian Petroleum Limited concluded an investor interaction session on September 1, 2026, held virtually between 4:00 PM and 5:00 PM IST. The meeting saw participation from 8 entities, including Counter Cyclical PMS, Mili Emerging Equities AIF, and Spangle Advisors. The company stated that discussions were strictly based on generally available public information, with no Unpublished Price Sensitive Information (UPSI) shared.
- Virtual investor interaction conducted on September 1, 2026, from 4:00 PM to 5:00 PM
- 8 investor entities participated, including Counter Cyclical PMS, Sunrise Fund, and Mili Emerging Equities AIF
- Confirmed no Unpublished Price Sensitive Information (UPSI) was shared during the session
- Follows prior regulatory intimation dated August 28, 2026
Arabian Petroleum Limited has announced that company officials will attend a virtual group investor meet on Tuesday, September 1, 2026, at 4:00 PM IST. The interaction will focus exclusively on publicly available information with no unpublished price-sensitive information discussed. This is a standard compliance intimation under Regulation 30 of the SEBI LODR Regulations.
- Virtual group investor meeting scheduled for Tuesday, September 1, 2026, at 4:00 PM IST
- Interaction will rely strictly on publicly available information without UPSI disclosure
- Filing submitted pursuant to Regulation 30(6) of SEBI LODR Regulations, 2015
Arabian Petroleum Limited has issued a clarification to the National Stock Exchange of India regarding recent share price movements in response to an exchange query dated August 07, 2026. The company stated that it has consistently disclosed all price-sensitive information under Regulation 30 of SEBI LODR Regulations, 2015. Management clarified that the movement in share price is purely market-driven, and there is no undisclosed material information affecting the company's operations or financials.
- Clarification issued on August 11, 2026, following NSE's reference query dated August 07, 2026.
- Reiterated full compliance with SEBI LODR Regulation 30 disclosure requirements.
- Confirmed that recent price movements (up 21.2% over 3 months) are purely market-driven without undisclosed corporate actions.
Arabian Petroleum Limited has secured a purchase order worth approximately Rs 5 crore from Hindustan Petroleum Corporation Ltd (HPCL). The contract involves the supply of additives to HPCL's lube plant. While the order value is relatively small, representing approximately 0.71% of the company's TTM revenue of Rs 699 crore, it demonstrates the company's ability to service major Public Sector Undertakings (PSUs). This contract aligns with the company's stated strategy of focusing on value-added products and specialty lubricants.
- Order value is approximately Rs 5 Crore for the supply of additives.
- The contract was awarded by Hindustan Petroleum Corporation Ltd (HPCL), a major domestic PSU.
- Order size represents ~0.71% of the company's TTM revenue of Rs 699 Crore.
- The supply is designated for the HPCL Lube Plant.
Financial Performance
Revenue Growth by Segment
Total revenue from operations reached INR 181.61 Cr in H1 FY26, representing a growth of 30.60% YoY compared to INR 139.05 Cr in H1 FY25. The Dubai subsidiary is projected to contribute 7-8% of total turnover by the end of FY26.
Geographic Revenue Split
Primary operations are based in India (Maharashtra), with international expansion via the Dubai-based 100% subsidiary, Arzol Petroleum. The Dubai entity is expected to scale from a trading hub to a significant contributor, targeting 7-8% of total revenue.
Profitability Margins
PAT for H1 FY26 was INR 5.95 Cr, up 28.39% YoY from INR 4.64 Cr. PAT margin remained relatively stable at 3.28% in H1 FY26 compared to 3.33% in H1 FY25. Management expects margin improvement through a shift toward value-added specialty products.
EBITDA Margin
EBITDA stood at INR 10.12 Cr in H1 FY26, a 17.09% increase YoY from INR 8.64 Cr. However, the EBITDA margin compressed to 5.57% in H1 FY26 from 6.21% in H1 FY25, a decline of 10.35% YoY due to higher total expenditure which rose 31.75% YoY.
Capital Expenditure
Fixed assets were reported at INR 11.60 Cr as of September 30, 2025. The company is investing in diversifying its product range into specialty lubricants, though specific future INR Cr outlay for expansion was not disclosed.
Credit Rating & Borrowing
The company carries a credit rating of CARE BB-; Stable; ISSUER NOT COOPERATING as of April 2024. Despite this, overall gearing improved significantly to 0.48x in FY25 from 0.72x in FY24, and interest coverage ratio strengthened to 6.27x in H1 FY26 from 4.9x YoY.
Operational Drivers
Raw Materials
The company utilizes base oils, chemical additives, and packaging materials for its lubricants and greases. Specific percentage breakdowns for each raw material were not disclosed.
Import Sources
Raw materials are sourced domestically and internationally, with the Dubai subsidiary (Arzol Petroleum) facilitating global trade and imports to support the Ambernath manufacturing facility.
Capacity Expansion
Manufacturing is centralized at the Ambernath facility in Thane, Maharashtra. While specific MTPA capacity was not disclosed, the company is expanding its operational scope through two subsidiaries: Arzol Petroleum (Dubai) and Lavisa Technologies (91% holding) for specialty lubricants.
Raw Material Costs
Total expenditure, heavily driven by raw material consumption in lubricant blending, rose to INR 172.58 Cr in H1 FY26, a 31.75% increase YoY, slightly outpacing revenue growth of 30.60%.
Manufacturing Efficiency
The company is transitioning toward higher-margin 'value-added' products such as specialty metalworking fluids and auto care products to optimize manufacturing output value.
Logistics & Distribution
The company operates an administrative office and manufacturing facility in Ambernath, Maharashtra, serving sectors including automotive, engineering, chemicals, and pharmaceuticals.
Strategic Growth
Expected Growth Rate
30.60%
Growth Strategy
Growth will be driven by the Dubai subsidiary's expansion into global import/export markets, aiming for 7-8% of turnover. Additionally, the company is pivoting toward high-margin specialty lubricants through Lavisa Technologies and diversifying into auto care and mechanical maintenance products.
Products & Services
Industrial lubricants, automotive lubricants, greases, specialty metalworking fluids, auto care products, and mechanical maintenance products.
Brand Portfolio
Arzol (associated with Arzol Petroleum subsidiary).
New Products/Services
New launches include Specialty metalworking fluids, Auto care range, and Mechanical Maintenance products, intended to yield higher margins than standard lubricants.
Market Expansion
Expansion is focused on the UAE/Dubai market for global trading and the specialty lubricants segment in India.
Strategic Alliances
The company operates through subsidiaries Arzol Petroleum (100%) and Lavisa Technologies Private Limited (91%).
External Factors
Industry Trends
The industry is shifting toward specialty and synthetic lubricants. Arabian Petroleum is positioning itself by incorporating Lavisa Technologies to delve into these high-performance specialty ranges.
Competitive Landscape
Competes with both large PSU oil companies and private lubricant manufacturers in the industrial and automotive segments.
Competitive Moat
The company's moat is built on its ISO-certified manufacturing processes (9001:2008, 14001:2015, 45001:2018) and a decade-long track record since 2011, providing established relationships in diverse industrial sectors.
Macro Economic Sensitivity
The business is sensitive to industrial production cycles in the automotive and engineering sectors, which drive demand for lubricants.
Consumer Behavior
Increasing demand for high-performance and specialty lubricants in the automotive and pharmaceutical sectors is driving the company's product diversification.
Geopolitical Risks
Operations in Dubai expose the company to Middle Eastern geopolitical stability and international trade regulations.
Regulatory & Governance
Industry Regulations
Operations are subject to environmental pollution norms for chemical manufacturing and safety standards for handling petroleum-based products.
Environmental Compliance
The company maintains ISO 14001:2015 (Environmental Management) and ISO 45001:2018 (Occupational Health and Safety) certifications.
Taxation Policy Impact
Tax expense for H1 FY26 was INR 1.98 Cr, representing an effective tax rate of approximately 25% on Profit Before Tax of INR 7.93 Cr.
Legal Contingencies
Auditors noted related party transactions with Eastern India Co. and Arabian Technologies LLP. No specific pending court case values in INR were disclosed.
Risk Analysis
Key Uncertainties
The 'Issuer Not Cooperating' status with CARE Ratings presents a significant risk to credit access and reputation. Margin volatility (10.35% YoY decline in EBITDA margin) remains a key concern.
Geographic Concentration Risk
Manufacturing is highly concentrated in a single facility in Ambernath, Maharashtra, making it vulnerable to regional operational disruptions.
Third Party Dependencies
Dependency on base oil suppliers and global logistics providers for the Dubai trading operations.
Technology Obsolescence Risk
The shift toward electric vehicles (EVs) may reduce long-term demand for traditional automotive engine oils, necessitating the company's current pivot to specialty industrial fluids.
Credit & Counterparty Risk
Trade receivables of INR 59.25 Cr indicate significant credit exposure, though the reduction in debtor days to 48 suggests improving collection efficiency.
