Gulf Oil Lubricants logo

Gulf Oil Lubricants

GULFOILLUB NSE

Key Fundamentals

MicrocapLubricantsPetroleum Products
Market Cap
₹5,212 Cr
Volatility
Moderate
P/E Ratio
13.73
EBITDA
₹612 Cr
Return on Equity
21.78%
Debt to Equity
0.33
Book Value
₹310.03
EPS
₹66.26
52W High
₹1,329
52W Low
₹865

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Stock is providing a good dividend yield of 4.81%.
  • Company has been maintaining a healthy dividend payout of 64.9%

Weaknesses

1
  • Promoter holding has decreased over last 3 years: -5.15%

Growth Rate

Revenue Growth
11.36% higher than 3Y
Net Income Growth
-3.53% lower than 3Y
Cash Flow Change
-11.54% lower than 3Y
ROE
-6.68% lower than 3Y
ROCE
-4.3% lower than 3Y
EBITDA Margin (Avg.)
-3.85% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 69d ago
AI opinion · based on fundamentals
Risk medium

Gulf Oil Lubricants India Ltd is a mid-cap lubricants company with a market cap of ₹5,302 Cr, trading at a PE of 15.1x with a consistently high ROE averaging 24-26% over the past decade. The stock has declined 17% over the last year despite delivering 12% TTM sales growth and 5% TTM profit growth, while maintaining a dividend yield of 4.55%.

Bull Case 7
  • Consistently high return on equity of 24-26% over 3, 5, and 10-year periods, indicating strong capital efficiency and durable competitive positioning in the lubricants market
  • Attractive dividend yield of 4.55% with a healthy payout ratio of 64.8%, providing meaningful income return to shareholders
  • Reasonable valuation at PE of 15.1x, which is modest relative to the company's 24% ROE and consistent double-digit profit compounding
  • Compounded sales growth of 15% over 10 years and 19% over 5 years demonstrates sustained revenue expansion across economic cycles
  • Compounded profit growth of 14% over 10 years and 13% over 5 years shows the company has been able to translate top-line growth into bottom-line performance
  • Price-to-book ratio of 3.39x is reasonable for a business generating 24%+ ROE, suggesting the stock is not excessively priced relative to asset quality
  • TTM sales growth of 12% indicates continued business momentum even in the current period despite broader market headwinds
Bear Case 7
  • Stock price has declined 17% over the past year, underperforming broader markets significantly and signaling potential structural concerns among market participants
  • Promoter holding has decreased by 5.01% over the last 3 years, which may indicate reduced insider confidence or strategic dilution
  • TTM profit growth of only 5% has decelerated sharply from the 3-year CAGR of 17%, suggesting margin pressure or rising input costs
  • Long-term stock CAGR of only 6% over 10 years and 9% over 5 years has significantly lagged the company's fundamental profit growth of 14% and 13% respectively, indicating persistent valuation de-rating
  • Widening gap between sales growth (12% TTM) and profit growth (5% TTM) suggests operating margins are compressing, potentially due to base oil price volatility or competitive pricing pressure
  • The lubricants industry faces long-term structural risk from EV adoption, which reduces addressable market for engine oils and automotive lubricants
  • 3-year sales CAGR of 10% has slowed from the 5-year CAGR of 19%, indicating the high-growth phase may be moderating

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 69d ago
Positives 1
  • New B2B brand campaign launched Jun 15

    Gulf Oil Lubricants India launched its 'Dream Beyond. Do Beyond' B2B campaign on Jun 15 to strengthen relationships with industrial and OEM stakeholders, signaling focus on higher-margin institutional business.

TL;DR: Gulf Oil Lubricants is investing in brand-building on the B2B side with a new campaign targeting industrial and OEM clients. No negative developments surfaced in the recent news flow. The company appears to be doubling down on its institutional segment, which could support volume growth and margin stability going forward.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
812
802
817
853
885
849
905
915
996
957
998
1,040
1,320
Expenses
719
702
706
738
769
742
783
791
870
838
868
905
1,150
Operating Profit
93
100
111
115
116
107
122
124
127
118
130
135
170
OPM %
11%
13%
14%
13%
13%
13%
14%
14%
13%
12%
13%
13%
13%
Other Income
14
17
17
18
17
23
33
22
22
25
1
25
27
Interest
4
7
8
6
5
6
14
10
6
13
13
23
8
Depreciation
11
11
11
14
11
11
11
14
14
14
15
16
17
PBT
92
99
108
114
118
113
131
123
130
117
104
121
172
Tax %
26%
26%
26%
25%
26%
26%
25%
26%
25%
26%
26%
26%
26%
Net Profit
68
74
81
85
88
84
98
92
97
87
77
90
128
EPS in Rs
13.93
15
16.45
17.37
17.89
17.15
19.91
18.58
19.6
17.67
15.63
18.22
25.75
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
967
1,011
1,087
1,332
1,706
1,644
1,652
2,192
2,999
3,284
3,554
3,991
4,315
Expenses
838
852
909
1,097
1,423
1,357
1,387
1,906
2,656
2,865
3,084
3,481
3,761
Operating Profit
129
159
178
236
283
287
265
286
343
419
470
510
554
OPM %
13%
16%
16%
18%
17%
17%
16%
13%
11%
13%
13%
13%
13%
Other Income
9
18
20
26
29
35
52
44
47
66
96
74
78
Interest
18
18
10
9
15
25
15
10
38
26
35
54
56
Depreciation
5
6
7
10
22
33
34
36
40
47
46
59
62
PBT
116
153
181
243
275
265
269
284
313
413
486
471
514
Tax %
33%
35%
35%
35%
35%
23%
26%
26%
26%
25%
25%
26%
—
Net Profit
77
100
118
159
178
203
200
211
232
308
362
351
382
EPS in Rs
15.62
20.24
23.69
31.9
35.7
40.42
39.77
41.86
47.39
62.66
73.47
71.04
77.27
Div. Payout %
35%
35%
36%
33%
32%
35%
40%
12%
53%
57%
65%
72%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
10
10
10
10
10
10
10
10
10
10
10
10
Reserves
177
239
344
457
577
751
859
1,033
1,169
1,285
1,454
1,551
Borrowings
215
195
178
248
283
376
211
390
373
358
455
511
Other Liabilities
162
205
206
313
273
309
365
399
520
652
724
832
Total Liabilities
565
649
738
1,029
1,142
1,447
1,446
1,831
2,072
2,304
2,643
2,904
Fixed Assets
89
107
118
260
270
280
254
273
277
250
275
286
CWIP
8
2
29
6
1
1
4
3
3
9
14
16
Investments
3
3
4
4
5
5
20
36
88
193
191
192
Other Assets
464
537
587
759
867
1,161
1,168
1,519
1,703
1,851
2,163
2,410
Total Assets
565
649
738
1,029
1,142
1,447
1,446
1,831
2,072
2,304
2,643
2,904
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
131
118
134
110
17
237
194
-24
273
348
423
363
Investing
1
-3
-10
-51
-22
17
30
-17
30
-58
49
18
Financing
20
-79
-59
9
-29
5
-277
98
-202
-238
-153
-268
Net Cash Flow
152
36
65
68
-34
259
-54
57
102
52
320
113
Free Cash Flow
96
100
92
3
-32
219
185
-48
250
327
389
323
CFO/OP
128
105
110
77
38
112
94
18
107
107
117
96
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
43
38
37
37
32
42
42
56
50
54
48
47
Inventory Days
97
117
103
140
149
163
175
152
105
104
95
98
Days Payable
66
97
91
132
86
129
134
86
87
106
109
115
Cash Conversion Cycle
74
58
48
45
95
76
82
121
68
52
34
30
Working Capital Days
-36
-36
-30
-34
2
-17
18
27
21
16
-3
-5
ROCE %
67%
40%
39%
40%
37%
29%
25%
23%
23%
27%
28%
27%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others3.64%Govt.0.33%Promot.66.85%FIIs7.78%DIIs8.71%Public12.69%As ofJun 2026

Documents

Frequently Asked Questions about Gulf Oil Lubricants

What does Gulf Oil Lubricants India Ltd do?
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]
Where is Gulf Oil Lubricants India Ltd (GULFOILLUB) listed?
Gulf Oil Lubricants India Ltd trades as GULFOILLUB on the NSE and under code 538567 on the BSE.
Which sector does Gulf Oil Lubricants India Ltd belong to?
Gulf Oil Lubricants India Ltd is classified under the Petroleum Products sector, in the Lubricants industry.
What is the market capitalisation of Gulf Oil Lubricants India Ltd?
Gulf Oil Lubricants India Ltd has a market capitalisation of ₹5,212 Cr, which places it in the Mid Cap band.
What is the PE ratio of Gulf Oil Lubricants India Ltd?
Gulf Oil Lubricants India Ltd trades at a PE ratio of 13.73, on earnings per share of ₹66.26, against a book value of ₹310.03 per share.
What is the 52-week high and low of Gulf Oil Lubricants India Ltd?
Over the last 52 weeks Gulf Oil Lubricants India Ltd has traded between ₹865 and ₹1,329.
Does Gulf Oil Lubricants India Ltd pay dividends?
Gulf Oil Lubricants India Ltd has a dividend yield of 4.75%.
What is the Return on Equity (ROE) of Gulf Oil Lubricants India Ltd?
Gulf Oil Lubricants India Ltd reported a return on equity of 21.78%. Its debt-to-equity ratio is 0.33.

Company Information

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]

Website gulfoilindia.com
CEO Mr. Ravi Shamlal Chawla
Employees 637
Listed 2014-07-31
Face Value ₹ 2
Issued Size 4,93,19,623

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