Gulf Oil Lubricants India Limited has delivered exceptional financial performance in Q3 FY26, achieving record quarterly revenue and EBITDA figures. The Hinduja Group company reported its unaudited financial results for the quarter and nine months ended December 31, 2025, showcasing strong growth momentum across all key business segments.

Record Financial Performance

The company's standalone operations generated revenue of ₹997.92 crores in Q3 FY26, representing a robust 10.28% year-on-year growth from ₹904.88 crores in Q3 FY25. EBITDA reached an all-time quarterly high of ₹130.27 crores, up 6.60% from ₹122.20 crores in the corresponding period last year.

Nine-Month Performance Highlights

For the nine-month period ended December 31, 2025, Gulf Oil demonstrated consistent growth with standalone revenue of ₹2,951.07 crores, up 11.81% from ₹2,639.28 crores in the previous year. On a consolidated basis, the company achieved a significant milestone with nine-month revenue crossing ₹3,000 crores, reaching ₹3,000.78 crores compared to ₹2,678.42 crores, marking a 12.04% increase.

Strong Volume Growth Across Segments

The company's overall lubricants volume grew by 8%, significantly outperforming industry growth by 2x. This performance was supported by double-digit growth in key B2C segments led by Passenger Car Motor Oil (PCMO) and Agricultural products, along with strong momentum across B2B segments. The OEM Franchise Workshops business delivered high double-digit growth, driven by existing partnerships and new customer acquisitions.

Dividend Declaration and Profitability Impact

The Board declared an interim dividend of ₹21.00 per equity share, representing 1,050% of the face value of ₹2 per share. However, profitability was impacted by incremental estimated obligations of ₹22.64 crores for standalone financials due to new labour codes notified effective November 21, 2025. The previous year's results included a one-time gain of ₹11.97 crores from the sale of land and building during Q3 FY25.

Business Expansion and Strategic Initiatives

Gulf Oil's EV subsidiary Tirex continued its strong performance trajectory with quarterly revenue growth of 83% and nine-month growth of 78%. The subsidiary reported positive EBITDA for both Q3 and the nine-month period, reinforcing the EV segment as a key long-term growth pillar. The company also strengthened its market presence through strategic partnerships with leading construction equipment manufacturers including Ammann India, ACE, and XCMG.

Sustainability and Operational Excellence

Both lubricant manufacturing plants in Chennai and Silvassa now operate with 100% solar rooftop capacity installations. During the nine-month period, rooftop solar systems contributed over 28% of total plant power consumption, reflecting the company's commitment to clean energy adoption and operational sustainability.

Gulf Oil Lubricants India Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving two key resolutions related to the appointment of Mr. Manish Kumar Gangwal (DIN: 00255201). The company announced the voting results on February 9, 2026, following the completion of remote e-voting that concluded on February 7, 2026.

Postal Ballot Process and Timeline

The remote e-voting process commenced on Friday, January 9, 2026, at 9:00 a.m. (IST) and concluded on Saturday, February 7, 2026, at 5:00 p.m. (IST). The record date for determining eligible shareholders was set as January 2, 2026, with a total of 79,890 shareholders registered on this date. Mr. Virendra G. Bhatt, Practicing Company Secretary (M. No. 1157, CP No. 124), served as the scrutinizer for the postal ballot process.

Resolution Details and Voting Results

Shareholders voted on two ordinary resolutions, both receiving strong support across all shareholder categories:

First Resolution Voting Breakdown

The first resolution regarding Mr. Gangwal's appointment as Director received comprehensive support:

Second Resolution Voting Results

The second resolution for Mr. Gangwal's appointment as Whole-Time Director achieved even stronger support:

Regulatory Compliance and Documentation

The postal ballot was conducted in compliance with Regulation 44 read with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The process followed all applicable MCA circulars and SEBI guidelines for remote e-voting. National Securities Depository Limited (NSDL) provided the e-voting platform, ensuring secure and transparent voting procedures.

The voting results and scrutinizer's report are available on the company's website at https://india.gulfoilltd.com/investors/postal-ballot-notice and on NSDL's e-voting portal at https://www.evoting.nsdl.com/ . Both resolutions were deemed passed on February 7, 2026, with the requisite majority approval from shareholders. The company has formally communicated these results to BSE Limited (Scrip Code: 538567) and National Stock Exchange of India Limited (Scrip symbol: GULFOILLUB) through their respective listing platforms.