Gulf Oil Lubricants India
- P/E
- 14.06
Key Fundamentals
MicrocapPetroleum ProductsEnergyPrice-based figures as of · EPS basis: Standalone · TTM
- ROCE
- 27.20%
- Debt to Equity
- 0.33
- EPS (TTM)
- ₹77.27
- Book Value
- ₹330.71
- Market Cap
- —
- P/E (TTM)
- 14.06
- P/B
- 3.28
- ROE
- 24.10%
- Dividend Yield
- 4.70%
- EBITDA
- ₹612 Cr
- 52W High
- ₹1,264.00
- 52W Low
- ₹865.00
- Volume
- 0
Peer Comparison
Energy › Petroleum Products › Lubricants
| ₹194.97 | 19.08 | ₹19,194 Cr | 10.10 | 3.22% | 45.90% | 60.30% | ₹6,591 Cr | ₹1,011 Cr | |
| Gulf Oil Lubricants (this company) | ₹1,086.30 | 14.06 | ₹5,342 Cr | 3.28 | 4.70% | 24.10% | 27.20% | ₹4,315 Cr | ₹382 Cr |
| ₹675.65 | 10.85 | ₹4,737 Cr | 2.55 | 0.72% | 8.88% | 14.00% | ₹4,853 Cr | ₹427 Cr | |
| ₹458.35 | 5.79 | ₹2,807 Cr | 1.89 | 0.64% | 15.60% | 19.20% | ₹4,106 Cr | ₹479 Cr | |
| ₹269.81 | 8.76 | ₹2,657 Cr | 1.55 | 0.76% | 10.50% | 13.30% | ₹5,052 Cr | ₹317 Cr | |
| ₹1,412.80 | 11.20 | ₹2,463 Cr | 2.38 | 4.11% | 19.50% | 24.10% | ₹2,263 Cr | ₹220 Cr | |
| ₹65.00 | 8.03 | ₹326 Cr | 0.85 | 0.77% | 8.38% | 10.80% | ₹714 Cr | ₹40 Cr | |
| Median 7 companies | ₹458.35 | 10.85 | ₹2,807 Cr | 2.38 | 0.77% | 15.60% | 19.20% | ₹4,315 Cr | ₹382 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 100/100
Category scores
- Quality
- 66
- Good
- Returns, margins, earnings quality 22% weight
- Valuation
- 57
- Good
- Cheap vs sector & own history 24% weight
- Growth
- 59
- Good
- Sales & profit trajectory 9% weight
- Financial Health
- 49
- Average
- Solvency, leverage, coverage 9% weight
- Momentum
- 50
- Average
- Trend strength, vol-adjusted 12% weight
- Ownership
- 49
- Average
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
2- Stock is providing a good dividend yield of 4.74%.
- Company has been maintaining a healthy dividend payout of 64.9%
Weaknesses
1- Promoter holding has decreased over last 3 years: -5.09%
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bullish | 3 | 5 | 11 |
| Oscillators | Bearish | 3 | 5 | 1 |
| Moving Averages | Strong Bullish | 0 | 0 | 10 |
Oscillators
Bearish
Overall
Strong Bullish
Moving Averages
Strong Bullish
Key readings
- RSI (14)
- 53.60
- Neutral
- MACD (12,26,9)
- −4.78
- Bullish
- SMA (50)
- 1,084.91
- Bullish
- SMA (200)
- 1,040.78
- Bullish
As of
Analyst Rating
4 of 4 analysts rate Buy, 0 Hold, 0 Sell.
As of
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | +14.72% |
|---|---|
| 5Y | +19.29% |
| 3Y | +9.99% |
| 1Y | +12.30% |
| TTM | +17.74% |
Net profit
| 10Y | +13.38% |
|---|---|
| 5Y | +11.91% |
| 3Y | +14.80% |
| 1Y | −3.04% |
| TTM | +2.96% |
Operating cash flow
| 10Y | +11.89% |
|---|---|
| 5Y | +13.35% |
| 3Y | +9.96% |
| 1Y | −14.18% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | −2.95 pp |
|---|---|
| 5Y | −3.26 pp |
| 3Y | +1.34 pp |
| 1Y | −0.44 pp |
| TTM | −0.28 pp |
Revenue by year
| Mar 2017 | ₹1,087 Cr |
|---|---|
| Mar 2018 | ₹1,332 Cr |
| Mar 2019 | ₹1,706 Cr |
| Mar 2020 | ₹1,644 Cr |
| Mar 2021 | ₹1,652 Cr |
| Mar 2022 | ₹2,192 Cr |
| Mar 2023 | ₹2,999 Cr |
| Mar 2024 | ₹3,284 Cr |
| Mar 2025 | ₹3,554 Cr |
| Mar 2026 | ₹3,991 Cr |
Net profit by year
| Mar 2017 | ₹118 Cr |
|---|---|
| Mar 2018 | ₹159 Cr |
| Mar 2019 | ₹178 Cr |
| Mar 2020 | ₹203 Cr |
| Mar 2021 | ₹200 Cr |
| Mar 2022 | ₹211 Cr |
| Mar 2023 | ₹232 Cr |
| Mar 2024 | ₹308 Cr |
| Mar 2025 | ₹362 Cr |
| Mar 2026 | ₹351 Cr |
Analyst Forecasts
AI Analysis — Bull vs Bear
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%.
- 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
- 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
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.
- 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.
Quarterly Results
₹ Cr| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 812 | 802 | 817 | 853 | 885 | 849 | 905 | 915 | 996 | 957 | 998 | 1,040 | 1,320 | 1,379 |
| Expenses | 719 | 702 | 706 | 738 | 769 | 742 | 783 | 791 | 870 | 838 | 868 | 905 | 1,150 | 1,217 |
| Operating Profit | 93 | 100 | 111 | 115 | 116 | 107 | 122 | 124 | 127 | 118 | 130 | 135 | 170 | 163 |
| OPM % | 11% | 13% | 14% | 13% | 13% | 13% | 14% | 14% | 13% | 12% | 13% | 13% | 13% | 12% |
| Other Income | 14 | 17 | 17 | 18 | 17 | 23 | 33 | 22 | 22 | 25 | 1 | 25 | 27 | 27 |
| Interest | 4 | 7 | 8 | 6 | 5 | 6 | 14 | 10 | 6 | 13 | 13 | 23 | 8 | 14 |
| Depreciation | 11 | 11 | 11 | 14 | 11 | 11 | 11 | 14 | 14 | 14 | 15 | 16 | 17 | 19 |
| PBT | 92 | 99 | 108 | 114 | 118 | 113 | 131 | 123 | 130 | 117 | 104 | 121 | 172 | 157 |
| Tax % | 26% | 26% | 26% | 25% | 26% | 26% | 25% | 26% | 25% | 26% | 26% | 26% | 26% | 25% |
| Net Profit | 68 | 74 | 81 | 85 | 88 | 84 | 98 | 92 | 97 | 87 | 77 | 90 | 128 | 117 |
| EPS (₹) | 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 | — |
Sep 2026: from the results filed on 28 Oct 2026, ahead of the full statement, so some rows are blank.
Profit & Loss
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 (₹) | 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% | — |
Balance Sheet
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 |
Cash Flow
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Gulf Oil Lubricants insights
65 extracted metrics across FY09–FY27.
Documents
- Q1 FY27 concall · Aug 2026Transcript PPT Recording
- Q4 FY26 concall · Jun 2026Transcript PPT
- Q3 FY26 concall · Feb 2026Transcript PPT
- Q2 FY26 concall · Nov 2025Transcript PPT
- Q1 FY26 concall · Aug 2025Transcript PPT
- 30 Jan 2026
- 18 Nov 2024
- 8 Sep 2023
- 10 Oct 2022
- 7 Sep 2021
- General announcements 3 Nov 2026
- General announcements 30 Oct 2026
Frequently Asked Questions about Gulf Oil Lubricants India
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What is the 52-week high and low of Gulf Oil Lubricants India Ltd?
Does Gulf Oil Lubricants India Ltd pay dividends?
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Company Information
Gulf Oil Lubricants Ltd is engaged in the business of manufacturing, marketing and trading of automotive and non-automotive lubricants. It is among the top three lubricant companies in India among private players.
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