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Swing Capital

Gulf Oil Lubricants India Ltd

NSE: GULFOILLUB BSE: 538567

Gulf Oil Lubricants Ltd is engaged in the business of manufacturing, marketing and trading of automotive and non-automotive lubricants.[1] It is among the top three lubricant companies in India among private players.[2]

₹907
52W: ₹864 — ₹1332
PE 12.2 · Book ₹335 · +171% vs book
Market Cap₹4,493 Cr
Stock P/E12.2Price to Earnings
ROCE28.3%Return on Capital
ROE25.5%Return on Equity
Div. Yield5.29%Face Value ₹2

Strengths

  • +Stock is providing a good dividend yield of 5.31%.
  • +Company has been maintaining a healthy dividend payout of 58.5%

Weaknesses

  • −Promoter holding has decreased over last 3 years: -5.01%

Shareholding Pattern

Promoters67.01%
FIIs8.91%
DIIs8.17%
Public15.57%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters71.76%67.22%▼4.567.14%▼0.167.14%67.14%67.11%▼0.067.11%67.01%▼0.1
FIIs5.65%7.07%▲1.47.29%▲0.27.52%▲0.28.48%▲1.09.53%▲1.09.22%▼0.38.91%▼0.3
DIIs5.87%9.55%▲3.79.59%▲0.09.53%▼0.17.84%▼1.77.45%▼0.48.13%▲0.78.17%▲0.0
Public16.42%15.85%▼0.615.67%▼0.215.51%▼0.216.24%▲0.715.61%▼0.615.25%▼0.415.57%▲0.3

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales802817853885849905915996957998
Expenses702706738769742783791870838868
Operating Profit100111115116107122124127118130
OPM %13%14%13%13%13%14%14%13%12%13%
Net Profit74818588849892978777
EPS ₹1516.4517.3717.8917.1519.9118.5819.617.6715.63

AI Insights

Revenue Trend

TTM revenue at ₹3,866Cr, up 8.8% YoY. OPM at 13%.

Debt Position

Borrowings at ₹482Cr. Debt-to-equity ratio: 0.29x. Healthy balance sheet.

Capex Cycle

CWIP at ₹5Cr (2% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 8.17% (+1.77pp change). FIIs: 8.91% (+5.22pp change). Promoters hold 67.01%.

Margin & Efficiency

ROCE improving from -22% (Mar 2014) to 28% (Mar 2025). Working capital days: -3.

Valuation

PE 12.2x with 28.3% ROCE. Price is 171% above book value of ₹335. Dividend yield: 5.29%.

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