Gulf Oil Lubricants gets listed on BSE and NSE

July 31, 2014 10:17 am

 Hinduja Group company Gulf Oil Lubricants India Ltd (GOLIL) today got listed on the BSE and NSE. With the demerger of the Lubricants business of Gulf Oil Corporation Ltd to GOLIL, the new lubricant company GOLIL will manage the standalone lubricant business in India under “Gulf Oil” brand.
 
Addressing the media on the occasion, Sanjay. G. Hinduja, Chairman, Gulf Oil International said, “Gulf Oil Lubricants India Ltd. aims to realise its vision of becoming one of the top 3 lubricant brands in the industry with expected support from the growing Indian economy. The company will continue to outperform the industry’s growth by enhancing its distribution, investing in the brand and securing more OEM tie-ups. Further, this is in line with our global vision of being one of the largest independent downstream players in lubricants and speciality chemicals in the world.”
 
Ravi Chawla, Managing Director, GOLIL adds, “The lubricant business has attained CAGR growth of about 15 per cent in revenues and about 42 per cent in profits before taxes over last 6 years. It has delivered an EBIDTA margin of over 12 per cent consistently and the volume growth rates are more than double the industry growth rates during this period, to emerge as one of the fastest growing lubricant majors in India. With this demerger we have plans to further expand our current 7 per cent market share in the ‘open market’ namely the bazaar channel and in the B2B related – OEM, industrial and infrastructure segments.”
 
The company has put in place plans to enhance manufacturing capacities at its current plant at Silvassa and is also in an advanced stage of setting up a new plant near Chennai.
 
(In pic: L to R – Manish Kumar Gangwal, CFO, GOLIL; Peter Hutton, Finance Director, Gulf Oil International; Ravi Chawla, MD, GOLIL; Sanjay. G. Hinduja, Chairman, GOLIL; Ms. Kanchan Chitale, Director, GOLIL and Ashish Kumar Chauhan, MD and CEO, BSE Ltd seen at the Gulf Oil Lubricants India Ltd listing ceremony)