Gulf Oil Lubricants India Limited, a Hinduja Group Company, reported its unaudited financial results (Standalone and Consolidated) for the first quarter ended June 30, 2026, delivering what the company described as all-time record quarterly performance. The results reflect broad-based growth across business segments despite headwinds from the West Asia supply crisis, elevated crude prices, and constrained availability of key raw materials.

Record Standalone Financial Performance

On a standalone basis, the company posted revenue from operations of ₹1,320.4 crore in Q1 FY27, compared to ₹996.4 crore in Q1 FY26, registering a year-on-year growth of 32.5%. Profit after tax stood at ₹127.5 crore against ₹96.7 crore in the corresponding quarter of the previous year, reflecting a growth of 31.9% YoY. EBITDA grew 34.6% YoY to ₹170.4 crore, with EBITDA margin expanding by 20 basis points to 12.9%.

The following table summarises the key standalone financial metrics:

Not annualised

Key Business Highlights

The quarter's performance was underpinned by robust volume-led growth, with lubricants volume rising 17% YoY despite the West Asia supply crisis. The company maintained uninterrupted supply to OEMs, distributors, and retailers throughout the period of supply volatility, while also expanding its customer base.

• B2C: Strong growth across regions, led by double-digit growth in the PCMO segment
• OEM Franchise Workshop (FWS): High double-digit growth driven by Agri, MCO, and PCMO segments
• B2B Industrial, Infrastructure, and Mining: Strong double-digit growth supported by new customer additions
• Tirez (EV charging subsidiary): Expanding AC and DC charger presence through strategic tie-ups with leading CPOs and construction equipment OEMs
• ElectreeFi (EV SaaS subsidiary): New customer wins among leading CPOs, strengthening position within the EV charging ecosystem

Management Commentary

Mr. Ravi Chawla, Managing Director & CEO, commented: "We have commenced FY27 with strong momentum and record performances. Despite the West Asia crisis and a volatile macro environment, we continued to execute with focus and agility, resulting in strong volume-led profitable growth. Lubricants volume grew 17% Y-o-Y during the quarter, supported by effective market execution and proactive customer engagement. Growth was all-round across our key business segments in B2C, OEM and B2B with each delivering good double-digit volume growth."

Mr. Manish Gangwal, Whole-Time Director & CFO, noted: "Our excellent Q1 results reflect the strength of our business fundamentals and disciplined execution in the toughest environment. Elevated crude prices and constrained availability of key raw materials during the quarter exerted pressure on input costs and margins. However, we remained focused on offsetting these headwinds prudently with necessary pricing actions and cost measures, leading to margin management as a key focus area. We reported 35% EBITDA growth at Rs 170 crores for the quarter, enabled by high volume growth and segment mix, keeping margin stable at 13%."

Major Marketing Initiative

During the quarter, the company launched 'Dream Beyond, Do Beyond', a B2B brand campaign dedicated to customers who build, manufacture, innovate, and power India forward. The campaign was inspired by customer conversations and the phrase "Gulf ke log, kaam ke log", reflecting trust in the company's people and service. The campaign employs advanced AI-driven visual techniques to create an immersive narrative, and was timed to address supply security concerns among customer partners during the West Asia crisis.

Company Overview

Gulf Oil Lubricants India Limited (GOLIL), part of the Hinduja Group and Gulf Oil International, is a leading player in India's lubricant market with a comprehensive product portfolio in automotive and industrial lubricants. The company operates an extensive Pan India distribution network for B2C, maintains tie-ups with over 50 OEMs, serves 1,000+ industrial, infrastructure, and institutional clients for B2B, and exports to over 25 countries. GOLIL holds manufacturing facilities in Silvassa and Ennore, Chennai, and operates a state-of-the-art R&D centre in Ennore. Globally, Gulf operates in over 100 countries across five continents, offering over 400 performance lubricants and associated products.

Gulf Oil Lubricants India Limited reported a significant improvement in profitability for the first quarter of FY26, with consolidated net profit rising 27% year-on-year to ₹1,208.38 lakh. Revenue from operations expanded by 30.6% to ₹1,327.21 crore, reflecting strong demand in its core lubricants segment. The Board of Directors, meeting on August 3, 2026, approved these unaudited financial results and set the record date for the final dividend payment.

The financial performance was underpinned by robust top-line growth, which outpaced the increase in total expenses. While revenue grew by over 30%, total expenses rose by approximately 30%, allowing the company to expand its pre-tax profit margin. Statutory auditors S R B C & Co. LLP issued an unmodified limited review report on the standalone and consolidated financial results, confirming compliance with Indian Accounting Standards and SEBI Listing Regulations.

Financial Performance Highlights

The following table outlines the key consolidated financial metrics for Q1FY26 compared to the corresponding period last year:

Standalone net profit also showed strong growth, increasing 32% year-on-year to ₹1,275.25 lakh. Standalone revenue from operations reached ₹1,320.36 crore, up from ₹996.36 crore in Q1FY25. The company’s basic earnings per share stood at ₹25.76 on a standalone basis, compared to ₹19.60 in the previous year.

Dividend and Corporate Actions

The Board recommended a final dividend of ₹30 per equity share (1,500% of face value) for the financial year ended March 31, 2026, subject to shareholder approval at the upcoming Annual General Meeting. The record date for determining dividend entitlement has been fixed as Friday, September 4, 2026. The 18th AGM is scheduled for September 11, 2026, to be conducted via Video Conferencing or Other Audio Visual Means.

Shareholders eligible to vote at the AGM must hold shares as of the e-voting cut-off date, also fixed as September 4, 2026. The e-voting window will remain open from Monday, September 7, 2026, at 9:00 a.m. IST until Thursday, September 10, 2026, at 5:00 p.m. IST.

What the Numbers Show

A notable aspect of the quarterly performance is the efficiency gain in cost management relative to revenue growth. Although total expenses increased by 30.5%, nearly matching the 30.6% revenue growth, the absolute expansion in profit before tax was substantial. The profit before tax rose from ₹1,277.82 lakh in Q1FY25 to ₹1,646.91 lakh in Q1FY26, a jump of nearly 29%. This indicates that while input costs (raw materials and other expenses) rose proportionally with sales, the company successfully leveraged its scale to drive higher absolute profits. Additionally, the subsidiary Tirex Transmission Private Limited reported a net loss of ₹507.16 lakh, while the associate Techperspect Software Private Limited contributed a minor loss of ₹1.62 lakh to the group’s equity pick-up, highlighting that the primary profit engine remains the core lubricants business.