Gulf Oil Lubricants India Ltd (GULFOILLUB) AI Stock Analysis

• Market Cap: ₹45.46B
• Dividend Yield: 3.96%
• Average Volume (3M): 7.79K
• Price to Earnings (P/E): 19.4
• Beta (1Y): 1.29
• Revenue Growth: 11.94%
• EPS Growth: 10.23%
• Country: IN
• Employees: 591
• Sector: Energy
• Sector Strength: 52
• Industry: Chemicals - Specialty
• EPS (TTM): 19.00
• Shares Outstanding: 49,400,074
• 10 Day Avg. Volume: 11,795
• 30 Day Avg. Volume: 7,786
• PEG Ratio: 0.93
• Price to Book (P/B): 3.76
• Price to Sales (P/S): 1.51
• P/FCF Ratio: 16.08
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 78.2
• Revenue Forecast (FY): ₹39.04B

• Rating: 73 Outperform
• Price Target: ₹1,026.00 ▼(-15.36% Downside)
• Action: Reiterated Date: 10/25/25
• Date: Action: Reiterated 10/25/25

Gulf Oil Lubricants India Ltd's strong financial performance is the most significant factor, supported by a solid valuation. Technical analysis indicates some bearish momentum, which slightly offsets the positive financial and valuation aspects.

Positive Factors

Sustained Revenue Growth

Consistent top-line expansion (reported as a robust growth trajectory) indicates durable demand across automotive and industrial channels. Sustained revenue growth supports scale advantages, funds product development and distribution expansion, and underpins medium-term market-share gains.

Healthy and Resilient Margins

Strong gross, EBIT and EBITDA margins reflect efficient cost management and pricing power in lubricants. Durable margins across cycles enable reinvestment, protect cash generation during commodity swings, and support funding for marketing and premium product rollouts.

Strong Balance Sheet and Cash Generation

A favorable debt profile and consistent free cash flow provide financial flexibility for capex, distribution expansion, and strategic investments. This balance-sheet strength reduces refinancing risk and supports long-term operational resilience during industry cyclicality.

Negative Factors

Raw Material Cost Exposure

Significant dependence on base oils and additives exposes margins to volatile commodity prices. Over 2-6 months, persistent or rising base-oil costs can compress margins if pass-through to customers is limited, pressuring profitability despite stable volumes.

Capex Variability

Fluctuating capital expenditures can create uneven free cash flow and limit predictable reinvestment. If capex rises unpredictably, it may force trade-offs between growth investments, working capital needs, or incremental financing, affecting medium-term execution.

Slight EPS Contraction

A modest negative EPS growth rate signals near-term earnings pressure despite revenue growth. Persistent EPS contraction could indicate margin compression, one-off costs, or dilution, and warrants monitoring of profit conversion and cost control over coming quarters.

Gulf Oil Lubricants India Ltd Business Overview & Revenue Model

Company Description

Gulf Oil Lubricants India Limited manufactures, markets, and trades lubricants for use in the automobile and industrial sectors in India. The company offers automotive lubricants, such as engine oil, gear oils, greases, and specialties for bikes, scooters, cars, light and heavy commercial vehicles, and tractors. It also provides hydraulic, bearing and circulating, industrial gear, turbine, compressor, refrigeration, quenching, and slideway oils; and metal working fluids, rust preventives, greases, and thermic fluids for use in construction, manufacturing, textile, power generation, mining, food processing, light heavy engineering, marine, and metal working industries. In addition, the company offers two-wheeler batteries; and marine lubricants, as well as a range of complementary technical services. It also exports its products primarily to Bangladesh, Indonesia, Nepal, Qatar, Africa, and internationally. The company has a strategic partnership with S-Oil Corporation to manufacture and market lubricants under the S-Oil Seven brand for the Indian market. The company was formerly known as Hinduja Infrastructure Limited and changed its name to Gulf Oil Lubricants India Limited in September 2013. Gulf Oil Lubricants India Limited was incorporated in 2008 and is headquartered in Mumbai, India. Gulf Oil Lubricants India Limited is a subsidiary of Gulf Oil International (Mauritius) Inc.

How the Company Makes Money

Gulf Oil Lubricants India makes money primarily by selling lubricant products (e.g., engine oils and related automotive lubricants, industrial lubricants, and specialty oils/fluids) to multiple customer segments and through multiple routes to market. Key revenue streams typically include: (1) Automotive aftermarket sales, where products are sold via distributors/retailers, workshops, and service points to end-consumers for regular oil changes and maintenance; revenue here is driven by volumes, product mix (premium vs. mass-market SKUs), and brand pull in high-frequency segments such as two-wheelers and passenger vehicles. (2) Business-to-business and institutional sales, where lubricants are supplied directly to fleets, logistics operators, OEM-related channels, infrastructure contractors, and other large users; these contracts can be recurring and volume-led, with pricing linked to base oil and additive cost movements and negotiated terms. (3) Industrial lubricants and specialty products, sold to manufacturing and industrial customers for machinery and process applications; earnings depend on long-term customer relationships, technical support, and the ability to supply specialized formulations. The company’s profitability is influenced by raw material costs (notably base oils and additives), its pricing and product-mix strategy, distribution reach, and brand/marketing investments. Specific significant partnerships or detailed revenue split by stream: null.

Gulf Oil Lubricants India Ltd Financial Statement Overview

Summary

Gulf Oil Lubricants India Ltd exhibits a strong financial profile with robust revenue and profit growth, a solid equity base, and effective cash flow management. The company is well-positioned for continued success, despite minor fluctuations in capital expenditures.

Income Statement

Gulf Oil Lubricants India Ltd has demonstrated a robust growth trajectory with a consistent increase in total revenue over the years, indicating a strong market position. The gross profit margin is healthy, reflecting efficient cost management, while the net profit margin shows profitability resilience. The EBIT and EBITDA margins are strong, underscoring solid operational performance.

Balance Sheet

The company's balance sheet is strong, characterized by a solid equity base and manageable debt levels, as evidenced by a favorable debt-to-equity ratio. The return on equity is impressive, showcasing effective use of shareholder funds, while the equity ratio reflects a stable financial structure.

Cash Flow

Cash flow management appears effective, with consistent free cash flow generation supporting operational sustainability. The company has demonstrated a positive operating cash flow to net income ratio, indicating strong cash earnings capacity. Free cash flow growth is evident, although variations in capital expenditure warrant attention.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	38.56B	36.31B	32.93B	29.99B	21.85B	16.47B
Gross Profit	16.41B	15.29B	13.35B	11.31B	8.43B	7.31B
EBITDA	5.76B	4.72B	4.89B	3.70B	3.26B	3.21B
Net Income	3.72B	3.60B	3.08B	2.32B	2.11B	2.00B
Balance Sheet
Total Assets	29.15B	27.58B	24.09B	20.72B	17.92B	14.46B
Cash, Cash Equivalents and Short-Term Investments	11.30B	10.51B	7.54B	6.54B	5.49B	4.92B
Total Debt	5.07B	4.67B	3.65B	3.73B	3.90B	2.11B
Total Liabilities	11.99B	12.27B	10.42B	8.93B	7.50B	5.76B
Stockholders Equity	16.49B	14.62B	12.95B	11.78B	10.43B	8.69B
Cash Flow
Free Cash Flow	42.41M	3.42B	3.14B	2.50B	-483.31M	1.85B
Operating Cash Flow	238.57M	3.95B	3.41B	2.73B	-237.26M	1.94B
Investing Cash Flow	281.60M	773.46M	-505.77M	304.27M	-173.06M	295.17M
Financing Cash Flow	155.07M	-1.50B	-2.38B	-2.02B	981.54M	-2.77B

Gulf Oil Lubricants India Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1212.15
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GULFOILLUB, the sentiment is Negative. The current price of 1212.15 is above the 20-day moving average (MA) of 1023.07, above the 50-day MA of 1070.91, and above the 200-day MA of 1153.61, indicating a bearish trend. The MACD of -41.49 indicates Positive momentum. The RSI at 26.19 is Positive, neither overbought nor oversold. The STOCH value of 12.99 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GULFOILLUB.

Gulf Oil Lubricants India Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GRWRHITECH	78 Outperform	₹84.74B	32.39	―	0.37%	4.20%	2.14%
GULFOILLUB	73 Outperform	₹45.46B	19.36	―	3.96%	11.94%	10.23%
BALAMINES	69 Neutral	₹34.60B	29.53	―	0.97%	-10.76%	-27.70%
INDIGOPNTS	65 Neutral	₹35.41B	37.48	―	0.30%	0.14%	2.95%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
SOTL	58 Neutral	₹23.40B	17.34	―	1.06%	5.84%	-17.92%
CAMLINFINE	44 Neutral	₹22.79B	-19.42	―	―	9.21%	87.89%

Gulf Oil Lubricants India Ltd Corporate Events

Gulf Oil Lubricants Files SEBI Regulation 74(5) Compliance Certificates for December Quarter

Gulf Oil Lubricants India Limited has informed the stock exchanges that it has received and submitted the requisite certificates from its registrar and share transfer agent, KFin Technologies Limited, under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended December 31, 2025. The filing confirms that details of securities dematerialised and rematerialised during the period have been duly furnished to all stock exchanges where the company’s shares are listed, underscoring ongoing compliance with depository regulations and reinforcing transparency in the company’s share transfer and demat processes for investors and regulators.