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Gulf Oil Lubricants India Q2 FY27 Share Price & Earnings Call Analysis

₹1,030.00-3.13% today
Market cap
₹5,104 Cr
P/E
12.84
ROE
24.06%
PEG
0.77
Price to sales
1.18
Debt to equity
0.33
52W high / low
₹1,264 / ₹870
Sales growth (5Y)
19.29%
EBITDA margin
12.84%
Net profit margin
9.12%
Promoter holding
66.80%
Sales (last year)
₹4,315 Cr

Gulf Oil Lubricants Ltd is engaged in the business of manufacturing, marketing and trading of automotive and non-automotive lubricants.[1] It is among the top three lubricant companies in India among private players.[2]

Guidance scorecard · Q2 FY27 call

What Gulf Oil Lubricants India Ltd's management guided
and where it ranks in Petroleum Products

#3of 10 in
Petroleum Products
Revenue10–20%MarginsUp 0–2%CapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • Gulf Oil aims for sustained growth momentum in both volume and value, targeting 2 to 3 times market growth.
  • The company expects double-digit volume growth, maintaining strategies that resulted in a 17% volume growth in Q1.
  • Revenue growth is anticipated to continue positively, supported by price increases to offset raw material cost pressures.
  • Focus on premiumization with increased sales of synthetic and higher specification lubricants is expected to drive value growth beyond volume growth.
  • For FY27, the company plans to sustain double-digit volume growth, aligned with 2 to 3 times industry growth (~3-4% industry growth).

2 more points from Gulf Oil Lubricants India Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Up 0–2%

See what Gulf Oil Lubricants India Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Expansion at Silvassa and Chennai plants underway with a 70% capacity increase targeted; Chennai expected by December, Silvassa by end of March.
  • New upgraded facility for Tirex plant expansion has been commissioned to increase capacity, supporting INR 300-400 crores revenue guidance for Tirex business.
  • Investment planned to maintain supply resilience amid raw material uncertainty and pricing pressures.
  • Focus on brand investments and distribution expansion in B2C for increased reach and customer trust.
  • Exploring investments in e-mobility, adjacencies, and new ventures aiming for profitable growth.

2 more points from Gulf Oil Lubricants India Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Gulf Oil Lubricants India Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Ask what Gulf Oil Lubricants India Ltd said on the order book →

Full Q1 FY27 analysis
Full Petroleum Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Petroleum Products
on management's own guidance

  1. Arabian Petrol.Good growth
    2
  2. Continental Petroleums LtdGood growth
    1
  3. This stockGulf Oil Lubricants India LtdModerate growth
    3
See all potential multibaggersAll Petroleum Products rankings

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Petroleum Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
1Continental Petroleums Ltd20–40%Up 2%+₹70 Cr20.7
2Arabian Petrol.20–40%Up 0–2%₹114 Cr10.1
3Gulf Oil Lubricants India LtdThis stock10–20%Up 0–2%₹5,402 Cr13.6
410–20%Flat₹16.39L Cr21.9
510–20%Flat₹1.84L Cr5.5
610–20%Flat₹30,270 Cr7.3

Sign up free to see every company in the sector ranking and track Gulf Oil Lubricants India Ltd.

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Financials of Gulf Oil Lubricants India Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Gulf Oil Lubricants India Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +71.94%71.80%71.76%67.22%67.14%67.14%67.14%67.11%67.11%67.01%66.85%66.80%
FIIs +4.98%7.08%5.65%7.07%7.29%7.52%8.48%9.53%9.22%8.91%7.78%8.63%
DIIs +4.03%5.02%5.87%9.55%9.59%9.53%7.84%7.45%8.13%8.17%8.70%7.91%
Government +0.30%0.30%0.30%0.30%0.30%0.30%0.30%0.30%0.30%0.33%0.33%0.33%
Public +18.78%15.80%16.42%15.85%15.67%15.51%16.24%15.61%15.25%15.57%16.32%16.33%
No. of Shareholders60,82257,92870,21174,11374,67585,50393,15182,27778,80773,35072,64772,382

Financials of Gulf Oil Lubricants India Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +8028178538858499059159969579981,0401,3201,379
Expenses +7027067387697427837918708388689051,1501,217
Operating Profit100111115116107122124127118130135170163
OPM %13%14%13%13%13%14%14%13%12%13%13%13%12%
Other Income +1717181723332222251252727
Interest7865614106131323814
Depreciation11111411111114141415161719
Profit before tax99108114118113131123130117104121172157
Tax %26%26%25%26%26%25%26%25%26%26%26%26%25%
Net Profit +7481858884989297877790128117
EPS in Rs15.0016.4517.3717.8917.1519.9118.5819.6017.6715.6318.2225.7523.65

Financials of Gulf Oil Lubricants India Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +9671,0111,0871,3321,7061,6441,6522,1922,9993,2843,5543,9914,738
Expenses +8388529091,0971,4231,3571,3871,9062,6562,8653,0843,4814,140
Operating Profit129159178236283287265286343419470510598
OPM %13%16%16%18%17%17%16%13%11%13%13%13%13%
Other Income +9182026293552444766967480
Interest1818109152515103826355458
Depreciation56710223334364047465967
Profit before tax116153181243275265269284313413486471554
Tax %33%35%35%35%35%23%26%26%26%25%25%26%
Net Profit +77100118159178203200211232308362351412
EPS in Rs15.6220.2423.6931.9035.7040.4239.7741.8647.3962.6673.4771.0483.25
Dividend Payout %35%35%36%33%32%35%40%12%53%57%65%72%

Financials of Gulf Oil Lubricants India Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital10101010101010101010101010
Reserves1772393444575777518591,0331,1691,2851,4541,5511,659
Borrowings +215195178248283376211390373358455511778
Other Liabilities +1622052063132733093653995206527248321,118
Total Liabilities5656497381,0291,1421,4471,4461,8312,0722,3042,6432,9043,565
Fixed Assets +89107118260270280254273277250275286325
CWIP8229611433914168
Investments334455203688193191192192
Other Assets +4645375877598671,1611,1681,5191,7031,8512,1632,4103,040
Total Assets5656497381,0291,1421,4471,4461,8312,0722,3042,6432,9043,565

Financials of Gulf Oil Lubricants India Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +13111813411017237194-24273348423363
Cash from Investing Activity +1-3-10-51-221730-1730-584918
Cash from Financing Activity +20-79-599-295-27798-202-238-153-268
Net Cash Flow152366568-34259-545710252320113
Free Cash Flow96100923-32219185-48250327389323
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit128%105%110%77%38%112%94%18%107%107%117%96%

Financials of Gulf Oil Lubricants India Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days433837373242425650544847
Inventory Days971171031401491631751521051049598
Days Payable669791132861291348687106109115
Cash Conversion Cycle7458484595768212168523430
Working Capital Days-36-36-30-342-1718272116-3-5
ROCE %67%40%39%40%37%29%25%23%23%27%28%27%

Guidance history

How Gulf Oil Lubricants India Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%Up 0–2%Planned——
Q4 FY26 call →10–20%FlatPlanned——
Q3 FY26 call →10–20%FlatPlanned——
Q2 FY26 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

27out of 100

Momentum score · price trend

27 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−16.8%42%
Last 6 months+4.7%63%
Last 3 months−3.7%60%

The price is 28.2% below its all-time high of ₹1,433.55 (20 Sept 2024). Stocks more than 20% below their peak have their score halved, so 54 became 27.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Gulf Oil Lubricants India Ltd: 0.4 × 42 + 0.4 × 63 + 0.2 × 60 = 54, halved to 27 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Gulf Oil Lubricants India Ltd's management said in earlier quarters

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