GULFOILLUB

Gulf Oil Lubricants India Limited

Lubricants marketer and blender for automotive and industrial segments

Energy›Oil, Gas & Consumable Fuels›Petroleum Products›Lubricants

gulfoilltd.com

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Key metrics

Price as of 2026-10-16

Stock price

₹1089.90

Market cap

5,395 Cr

Stock P/E

14.4

P/B

3.50

Dividend yield

4.5%

ROE (FY26)

22.0%

ROCE (FY26)

24.8%

Operating margin (FY26)

11.0%

Debt / equity (FY26)

0.33

OCF / EBITDA (FY26)

68.0%

OCF / EBITDA (3Y)

77.2%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Gulf Oil Lubricants (Gulf Oil Lubricants India) makes and sells Gulf brand lubricants in India, covering engine oils for cars and motorcycles and oils for industrial, infrastructure and mining customers, sold through distributors, workshops and vehicle makers.

Company snapshot

2ndBy market cap

Ranked among 7 companies in Lubricants.

What we see

Positives

✓Return on equity of 22.0% — the company generates strong returns on shareholders' money.

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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

Metric	Sept 2023	Dec 2023	Mar 2024	Jun 2024	Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	802 Cr	818 Cr	870 Cr	894 Cr	864 Cr	920 Cr	953 Cr	1,016 Cr	967 Cr	1,018 Cr	1,055 Cr	1,327 Cr
Operating expenses (approx.)	702 Cr	707 Cr	752 Cr	780 Cr	757 Cr	798 Cr	824 Cr	889 Cr	849 Cr	885 Cr	919 Cr	1,161 Cr
EBITDA	100 Cr	110 Cr	117 Cr	114 Cr	107 Cr	123 Cr	129 Cr	127 Cr	117 Cr	133 Cr	136 Cr	166 Cr
OPM %	12.5%	13.5%	13.5%	12.7%	12.4%	13.3%	13.5%	12.5%	12.1%	13.0%	12.9%	12.5%
Other income	17 Cr	17 Cr	20 Cr	18 Cr	24 Cr	34 Cr	23 Cr	23 Cr	25 Cr	24 Cr	25 Cr	27 Cr
Interest	7 Cr	8 Cr	6 Cr	5 Cr	7 Cr	15 Cr	10 Cr	6 Cr	13 Cr	14 Cr	23 Cr	8 Cr
Depreciation	11 Cr	13 Cr	16 Cr	13 Cr	13 Cr	13 Cr	16 Cr	16 Cr	16 Cr	18 Cr	19 Cr	20 Cr
Profit before tax	99 Cr	107 Cr	115 Cr	114 Cr	111 Cr	129 Cr	125 Cr	128 Cr	113 Cr	102 Cr	120 Cr	165 Cr
Tax %	25.6%	25.6%	24.4%	25.9%	25.5%	24.6%	25.9%	25.5%	25.9%	25.4%	25.4%	26.6%
Net profit	74 Cr	79 Cr	87 Cr	84 Cr	83 Cr	97 Cr	93 Cr	95 Cr	84 Cr	76 Cr	90 Cr	121 Cr
EPS (₹)	₹15.00	₹16.19	₹17.69	₹17.49	₹17.01	₹19.89	₹18.70	₹19.45	₹17.35	₹15.50	₹18.17	₹24.88

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	2,192 Cr	2,999 Cr	3,301 Cr	3,631 Cr	4,056 Cr	Sign in free for the trailing twelve months
Operating expenses (approx.)	1,906 Cr	2,656 Cr	2,880 Cr	3,159 Cr	3,542 Cr	Sign in free for the trailing twelve months
EBITDA	285 Cr	343 Cr	421 Cr	472 Cr	514 Cr	Sign in free for the trailing twelve months
OPM %	13.0%	11.4%	12.8%	13.0%	12.7%	Sign in free for the trailing twelve months
Other income	44 Cr	47 Cr	68 Cr	99 Cr	98 Cr	Sign in free for the trailing twelve months
Interest	10 Cr	38 Cr	26 Cr	36 Cr	56 Cr	Sign in free for the trailing twelve months
Depreciation	36 Cr	40 Cr	51 Cr	56 Cr	69 Cr	Sign in free for the trailing twelve months
Profit before tax	284 Cr	313 Cr	412 Cr	479 Cr	463 Cr	Sign in free for the trailing twelve months
Tax %	25.8%	25.7%	25.3%	25.5%	25.6%	Sign in free for the trailing twelve months
Net profit	211 Cr	232 Cr	308 Cr	357 Cr	345 Cr	Sign in free for the trailing twelve months
EPS (₹)	₹41.89	₹47.30	₹62.76	₹73.09	₹70.47	Sign in free for the trailing twelve months
Dividend payout %	21.3%	10.7%	65.4%	54.9%	70.0%	Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	10 Cr	10 Cr	10 Cr	10 Cr	10 Cr
Reserves	1,033 Cr	1,169 Cr	1,285 Cr	1,452 Cr	1,526 Cr
Borrowings	357 Cr	332 Cr	333 Cr	422 Cr	514 Cr
Other liabilities	393 Cr	562 Cr	709 Cr	805 Cr	917 Cr
Total liabilities	1,792 Cr	2,072 Cr	2,409 Cr	2,758 Cr	3,015 Cr
Fixed assets (net)	270 Cr	275 Cr	254 Cr	284 Cr	315 Cr
CWIP	3 Cr	3 Cr	9 Cr	2 Cr	7 Cr
Investments	36 Cr	88 Cr	91 Cr	89 Cr	51 Cr
Loans & advances	0.21 Cr	0.31 Cr	0.45 Cr	0.44 Cr	0.54 Cr
Inventories	476 Cr	472 Cr	494 Cr	507 Cr	595 Cr
Trade receivables	296 Cr	410 Cr	502 Cr	494 Cr	535 Cr
Cash & bank	549 Cr	650 Cr	703 Cr	1,026 Cr	1,136 Cr
Other assets	162 Cr	173 Cr	355 Cr	355 Cr	376 Cr
Total assets	1,792 Cr	2,072 Cr	2,409 Cr	2,758 Cr	3,015 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	-24 Cr	273 Cr	341 Cr	395 Cr	350 Cr
Cash from investing	-17 Cr	30 Cr	-51 Cr	77 Cr	11 Cr
Cash from financing	98 Cr	-202 Cr	-238 Cr	-150 Cr	-251 Cr
Net cash flow	57 Cr	102 Cr	53 Cr	323 Cr	110 Cr
Free cash flow (OCF − Capex)	-48 Cr	250 Cr	314 Cr	342 Cr	298 Cr

Ratios

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROCE %	21.0%	23.2%	25.8%	26.4%	24.8%
ROE %	20.2%	19.7%	22.5%	23.5%	22.0%
Debtor days	49	50	55	50	48
Inventory days	147	110	102	96	101
Days payable	84	10	102	106	112
Cash conversion cycle	113	150	55	40	37
OCF / EBITDA %	-8.3%	79.7%	81.1%	83.7%	68.0%
OCF / EBITDA % (3 years)	—	—	56.3%	81.7%	77.2%
Debt / equity	0.34	0.28	0.26	0.29	0.33
Current ratio	2.03	1.97	1.94	1.92	1.85
Net debt / EBITDA	-0.67	-0.93	-0.88	-1.28	-1.21