Manufactures and sells branded lubricants across passenger car motor oil, commercial vehicle oil, agricultural oils, and industrial segments, including projects such as bridges, dams, highways, tunnels, and mining. In FY26, consolidated revenue crossed ₹4,056 crore, with Q4 FY26 standalone revenue at ₹1,040 crore, up 13.7% year-on-year. Lubricants volumes grew 14% year-on-year in Q4 and 10.5% for the full year, with broad-based double-digit growth across PCMO, CVO, agri, OEM franchise workshops, and high double-digit growth in B2B industrial categories. The company also operates an EV-charging subsidiary, Tirex Chargers, which crossed the ₹100 crore revenue milestone in FY26. It is part of the Hinduja Group and reports over 50 OEM tie-ups and more than 1,000 B2B clients. Materials account for 52.7% of revenue, the single largest cost line, reflecting exposure to base oil and additive prices linked to crude oil. EBITDA margins compressed by 44-61 basis points in FY26 due to elevated crude oil prices and rupee weakness, while net profit declined about 3.5% after a ₹22.64 crore incremental charge for new labour codes. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Passenger car motor oil (PCMO), Commercial vehicle oil (CVO), Agricultural lubricants, OEM franchise workshops, B2B industrial segments, EV charging subsidiary (Tirex Chargers). Branded lubricants manufacturer and marketer with growing B2B industrial and EV charging exposure
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,192 | 2,999 | 3,301 | 3,631 | 4,056 |
| EBITDA (ex other income) | 285 | 343 | 421 | 472 | 491 |
| margin % | 13.0 | 11.4 | 12.8 | 13.0 | 12.1 |
| Owners' profit | 0 | 0 | 308 | 360 | 348 |
| EPS, as reported (₹) | 41.89 | 47.30 | 62.76 | 73.09 | 70.47 |
| ROE % · ROCE % | 20.2 · 27.2 | 19.7 · 28.6 | 22.5 · 30.7 | 23.3 · 32.3 | 21.8 · 30.9 |
| Debt / equity (x) | 0.34 | 0.28 | 0.24 | 0.28 | 0.32 |
| Cash from operations | (24) | 273 | 341 | 395 | 350 |
| Capex | (25) | (23) | (28) | (53) | (51) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 864 | 920 | 953 | 1,016 | 967 | 1,018 | 1,055 | 1,327 |
| Profit before tax | 111 | 129 | 125 | 128 | 113 | 102 | 120 | 165 |
| Net profit | 83 | 97 | 93 | 95 | 84 | 76 | 90 | 121 |
| EPS (₹) | 17.01 | 19.89 | 18.70 | 19.45 | 17.35 | 15.50 | 18.17 | 24.88 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CASTROL INDIA LIMITED | 18,595 | 17.5 | 9.74 | — | 30.9 | 40.4 | — | 27.2 |
| GULF OIL LUB. IND. LTD. ◆ | 5,276 | 14.0 | 3.33 | 7.9 | 21.8 | 27.6 | — | 14.5 |
| SAVITA OIL TECHNOLO. LTD | 4,909 | 11.9 | 2.70 | 16.4 | 10.0 | 13.3 | — | 26.8 |
| PANAMA PETROCHEM LTD | 2,922 | 6.1 | 1.99 | 10.2 | 14.5 | 17.3 | 16.2 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · 18th AGM proceedings - dividend, director re-appointment, financials adopted | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Senior Management Personnel resigns from Gulf Oil Lubricants | management changes | medium | — | — |
| 7 Sept 2026 · Sandeep Bangia ceases as Senior Management Personnel | management changes | medium | — | — |
| 1 Sept 2026 · Gulf Oil launches Kuch Behad Kar brand platform for Gulf Pride with MS Dhoni | business updates | low | — | — |
| 20 Aug 2026 · Gulf Oil Lubricants 18th AGM notice published; final dividend Rs 30 per share | compliance | minimal | — | — |
| 19 Aug 2026 · Gulf Oil Lubricants files BRSR for FY 2025-26 | general | low | — | — |
| 19 Aug 2026 · Annual Report FY25-26 and 18th AGM Notice filed | board shareholder meetings | medium | — | — |
| 19 Aug 2026 · 18th AGM on Sept 11, 2026; Rs 30 per share final dividend proposed | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Gulf Oil Lubricants Q1 FY27: Revenue up 33%, PAT up 32% on record results | investor communications | medium | — | — |
| 10 Aug 2026 · Gulf Oil Lubricants to meet analysts at Emkay Conference on Aug 13 | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 22.6 |
| GANDHAR OIL REFINE IND L | 2,670 | 8.9 | 1.91 | 11.3 | 9.8 | 11.4 | — | 16.4 |
| VEEDOL CORPORATION LTD | 2,436 | 11.1 | 2.35 | 9.3 | 18.5 | 19.0 | 11.5 | 16.8 |
| Greenhitech Ventures Limited | 42 | 56.2 | — | — | — | 1.0 | — | — |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 14.0 | 10.4 | 13 of 20 | 37% |
| P/B | 3.3 | 2.1 | 14 of 18 | 24% |
| ROCE | 27.6 | 17.1 | 4 of 19 | 83% |
| ROE | 21.8 | 14.5 | 6 of 17 | 69% |
| Debt / Equity | 0.3 | 0.3 | 10 of 18 | 47% |
| EBITDA margin | 14.5 | 12.7 | 8 of 17 | 56% |
| Revenue growth | 30.6 | 26.2 | 6 of 14 | 62% |
| Profit growth | 27.0 | 56.9 | 10 of 15 | 36% |
| Market cap | 5276 | 2796 | 8 of 20 | 63% |
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| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
