A leading player in the lubricants industry has renewed its strategic partnership with Piaggio Vehicles Pvt Ltd, India’s leading manufacturer of small commercial vehicles. The two companies have extended their exclusive collaboration until 2030, underscoring their commitment to delivering high-performance, customised lubricant solutions.
The partnership’s success since its commencement in 2020 has consistently delivered advanced products that enhance vehicle performance and longevity, providing Piaggio India’s channel partners and customers with optimised solutions for their commercial vehicles.
Share Price Movement
The share price of Gulf Oil Lubricants India Limited (Gulf Oil) went up by 5.07 percent to Rs. 1,117 per share on Tuesday, an increase from its previous close of Rs. 1,063.1 per share. The market capitalisation now stands at approximately Rs. 5,500 crore as of November 26, 2024.
What Happened
Gulf Oil Lubricants India Limited (Gulf Oil) and Piaggio Vehicles Pvt Ltd (Piaggio India) have renewed their strategic partnership agreement to extend collaboration in delivering genuine and co-branded lubricants across Piaggio’s commercial vehicle segment. This exclusive partnership, renewed until 2030, underscores both companies commitment to high-performance, customised lubricant solutions and sets the foundation for further growth across retail, factory-fill, and export markets.
Q2 Financial Highlights
According to its recent filing, in the quarter ending September 2024, Gulf Oil Lubricants’s consolidated revenue from operations has increased by 5.86 percent YOY from Rs. 802 crore in Q2 FY24 to Rs. 849 crore in Q2 FY25 and declined by 4.06 percent QoQ from Rs. 885 crore in Q4 FY24.
The company’s consolidated net profit has increased by 13.5 percent, from Rs. 74 crore in Q2 FY24 to Rs. 84 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has declined by 4.54 percent QoQ from Rs. 88 crore.
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Market Outlook
The industry outlook for India’s lubricants market is quite positive. India is experiencing a demographic convergence, with a large population between the ages of 18 and 35, which is expected to drive sustainable growth in the longer term.
Additionally, the Indian government’s increased budget for capital expenditure, particularly in infrastructure, construction, manufacturing, and transportation sectors, is expected to fuel the demand for lubricants across various industries. Furthermore, India’s position as the third-largest lubricant-consuming country globally and the rapid growth in its automobile market, which is the third-largest in the world, indicate a promising future for the lubricants industry in the country.
Shareholding Pattern
As of the November 2024 shareholding pattern, Gulf Oil Lubricants Limited is primarily held by the promoters at 67.22 percent, domestic institutional investors hold 9.55 percent, and the public with 15.85 percent.
About Company
Gulf Oil Lubricants India Limited (GOLIL) is a leading force in India’s lubricants sector. Founded on July 17, 2008, as Hinduja Infrastructure Limited, the company rebranded in 2013. GOLIL is a subsidiary of Gulf Oil International, part of the prestigious Hinduja Group.
GOLIL produces a wide array of products, including automotive, industrial, and marine lubricants, and innovative fluids for electric vehicles (EVs). The company operates a modern, ISO-certified facility in Silvassa and has a vast distribution network of over 350 distributors and 80,000 retail points across India. Notably, it caters to diverse industries with eco-friendly solutions like AdBlue, alongside specialised oils for various automotive needs.
Looking ahead, Gulf Oil is set to grow further. It plans to increase manufacturing capacity, with a new plant in Chennai in the works. GOLIL’s commitment to sustainability and innovation ensures its continued success both locally and globally.
Written By Fazal Ul Vahab C H
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