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Gulf Oil Lubricants India (GULFOILLUB)₹1,095−1.11%Lubricants
In the Sep 2026 quarter (consolidated), Gulf Oil Lubricants India reported sales of ₹1,405 Cr, up 45.6% from Sep 2025, and net profit of ₹115 Cr, up 37.0% year on year. For the year to Mar 2026, sales were ₹4,045 Cr and net profit ₹346 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 815 | 867 | 892 | 862 | 917 | 951 | 1,013 | 965 | 1,016 | 1,052 | 1,324 | 1,405 |
| Expenses | 704 | 749 | 778 | 754 | 795 | 821 | 886 | 846 | 881 | 916 | 1,157 | 1,241 |
| Operating Profit | 110 | 117 | 113 | 107 | 123 | 129 | 127 | 117 | 132 | 136 | 166 | 163 |
| OPM % | 14.0% | 13.1% | 13.0% | 12.0% | 13.0% | 14.0% | 13.1% | 12.0% | 13.0% | 13.1% | 12.1% | 12.0% |
| Other Income | 17.03 | 20.04 | 18.03 | 24.03 | 34.02 | 23.03 | 23.04 | 26.02 | 2.01 | 25.02 | 27.02 | 27.02 |
| Interest | 7.99 | 5.99 | 4.99 | 6.98 | 14.97 | 9.98 | 5.99 | 12.96 | 13.97 | 22.93 | 7.99 | 14.97 |
| Depreciation | 13.03 | 16.01 | 13.01 | 13.01 | 13.01 | 16.02 | 16.02 | 16.01 | 18.03 | 19.01 | 20.03 | 21.05 |
| Profit before tax | 107 | 115 | 114 | 111 | 129 | 125 | 128 | 113 | 102 | 120 | 165 | 154 |
| Tax % | 26.1% | 24.1% | 26.0% | 26.0% | 25.1% | 26.1% | 26.0% | 26.0% | 25.1% | 25.1% | 27.0% | 26.1% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | −15.97 | 0.00 | 0.00 | 0.00 |
| Net Profit | 79.28 | 87.23 | 84.27 | 83.29 | 97.34 | 93.26 | 95.35 | 84.25 | 76.29 | 90.31 | 121 | 115 |
| EPS (Rs) | 16.31 | 17.53 | 17.48 | 16.99 | 19.84 | 18.69 | 19.46 | 17.34 | 15.51 | 18.16 | 24.85 | 23.28 |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| Sales | 2,186 | 2,992 | 3,290 | 3,623 | 4,045 | 4,797 |
| Expenses | 1,898 | 2,647 | 2,870 | 3,147 | 3,530 | 4,195 |
| Operating Profit | 286 | 343 | 422 | 473 | 515 | 598 |
| OPM % | 13.1% | 11.1% | 13.1% | 13.0% | 13.1% | 12.5% |
| Other Income | 44.07 | 47.08 | 68.13 | 99.14 | 75.07 | 81.07 |
| Interest | 9.97 | 37.91 | 25.94 | 35.92 | 55.82 | 59.86 |
| Depreciation | 36.04 | 40.05 | 51.03 | 56.06 | 69.05 | 78.12 |
| Profit before tax | 285 | 313 | 413 | 480 | 464 | 542 |
| Tax % | 26.0% | 26.0% | 25.1% | 25.1% | 26.1% | — |
| Exceptional items | 0.99 | 1.99 | 1.99 | 18.96 | −12.98 | −15.97 |
| Net Profit | 212 | 233 | 309 | 358 | 346 | 404 |
| EPS (Rs) | 41.81 | 47.38 | 62.62 | 72.98 | 70.35 | 81.80 |
| Dividend payout % | 11.9% | 53.0% | 57.0% | 65.9% | 73.0% | — |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 10.04 | 10.04 | 10.04 | 10.04 | 10.03 |
| Reserves | 1,031 | 1,168 | 1,284 | 1,450 | 1,524 |
| Borrowings | 389 | 372 | 364 | 466 | 565 |
| Other Liabilities | 359 | 519 | 749 | 828 | 902 |
| Total Liabilities | 1,789 | 2,069 | 2,405 | 2,753 | 3,002 |
| Fixed Assets | 274 | 278 | 369 | 391 | 418 |
| CWIP | 2.99 | 2.99 | 14.94 | 18.93 | 31.91 |
| Investments | 36.10 | 88.24 | 91.31 | 89.34 | 51.15 |
| Other Assets | 1,476 | 1,699 | 1,931 | 2,254 | 2,501 |
| Inventories | 476 | 473 | 494 | 507 | 595 |
| Trade receivables | 297 | 410 | 502 | 494 | 536 |
| Cash & equivalents | 574 | 654 | 757 | 1,052 | 1,157 |
| Total Assets | 1,789 | 2,069 | 2,405 | 2,753 | 3,002 |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from operating activity | −24.05 | 274 | 342 | 396 | 351 |
| Cash from investing activity | −17.05 | 30.12 | −51.15 | 77.30 | 11.04 |
| Cash from financing activity | 98.21 | −202 | −239 | −150 | −252 |
| Net cash flow | 56.99 | 102 | 52.99 | 323 | 110 |
| Capex | 25.01 | 23.01 | 28.02 | 53.05 | 51.06 |
| Free cash flow | −48.05 | 250 | 316 | 355 | 299 |
| CFO / OP % | 18.1% | 107.1% | 105.1% | 110.1% | 93.1% |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor days | 50 | 51 | 56 | 51 | 49 |
| Inventory days | 151 | 104 | 105 | 98 | 103 |
| Days payable | 87 | 88 | 107 | 110 | 116 |
| Cash conversion cycle | 116 | 69 | 56 | 41 | 38 |
| Working capital days | 27 | 21 | 19 | 2 | −2 |
| ROCE % | — | 23.0% | 26.1% | 27.0% | 26.1% |
For the Sep 2026 quarter, Gulf Oil Lubricants India reported sales of ₹1,405 Cr, up 45.6% year on year and net profit of ₹115 Cr, up 37.0% year on year. The operating margin was 12.0%.
Gulf Oil Lubricants India's sales for the year to Mar 2026 were ₹4,045 Cr; over the last twelve months they were ₹4,797 Cr.
Net profit for the year to Mar 2026 was ₹346 Cr, and ₹404 Cr over the last twelve months. Earnings per share over the same trailing period were ₹81.80.
Gulf Oil Lubricants India reported borrowings of ₹565 Cr at Mar 2026, against cash and equivalents of ₹1,157 Cr.
Cash from operations was ₹351 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹299 Cr.