Gulf Oil LUB. IND. Ltd.
NSE: GULFOILLUB · Lubricants · sector
₹1,050.30NSE close 2026-10-26
Key numbers
Market cap₹5,201 cr
Price₹1,050.30
52w high / low₹1,289 / ₹865
P/E13.8xSector median 10.6x
P/B3.4xSector median 2.1x
Book value₹310.3
Dividend yield4.64%Sector median 0.64%
ROE25.0%Sector median 23.5%
ROCE27.3%Sector median 28.5%
OPM12.1%Sector median 11.2%
Debt / equity0.33xSector median 0.05x
EV/EBITDA8.6xSector median 7.9x
Interest cover9.5x
Current ratio1.85x
Sales growth 3y+10.6%Sector median +6.3%
Profit growth 3y+14.4%Sector median +1.7%
PEG0.98x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 8 companies in Lubricants (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹1,157 cr vs borrowings ₹514 cr (FY26): cash is higher (net cash).
- Borrowings rose in each of the last 3 years (₹332 cr → ₹514 cr).
- Operating profit covered interest 9.5x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 1 of the last 5 years (FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 27% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹1,050.30 on 2026-10-26: -18.5% from the 52-week high, +21.4% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,417.00 · low ₹870.20
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 864 | 920 | 953 | 1,016 | 967 | 1,018 | 1,055 | 1,327 |
| EBITDA | 107 | 123 | 129 | 127 | 117 | 110 | 136 | 166 |
| OPM % | 12.4% | 13.3% | 13.5% | 12.5% | 12.1% | 10.8% | 12.9% | 12.5% |
| Other income | 24 | 34 | 23 | 23 | 26 | 24 | 25 | 27 |
| Net profit | 84 | 98 | 92 | 96 | 86 | 76 | 90 | 123 |
| EPS (₹) | 17.01 | 19.89 | 18.70 | 19.45 | 17.35 | 15.50 | 18.17 | 24.88 |
| Revenue YoY | +11.9% | +10.6% | +10.8% | +30.6% | ||||
| Profit YoY | +2.2% | -21.9% | -2.6% | +28.5% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 2,192 | 2,999 | 3,301 | 3,631 | 4,056 | 4,367 |
| EBITDA | 285 | 343 | 421 | 472 | 491 | 529 |
| Net profit | 211 | 232 | 308 | 360 | 348 | 375 |
| EPS (₹) | 41.89 | 47.30 | 62.76 | 73.09 | 70.47 | 75.90 |
| Revenue growth | +36.8% | +10.1% | +10.0% | +11.7% | +16.3% | |
| Profit growth | +10.1% | +32.6% | +16.8% | -3.4% | +1.4% | |
| Dividend / share (₹) | 9.00 | 5.00 | 41.00 | 40.00 | 49.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +10.6% | +19.7% | +16.3% |
| Net profit | +14.4% | +11.7% | +1.4% |
| EPS | +14.2% | +12.1% | – |
| Share price | – | -8.3% (2y) | -13.3% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 1,178 | 1,295 | 1,462 | 1,536 |
| Borrowings | – | 332 | 333 | 422 | 514 |
| Cash & equivalents | – | 654 | 757 | 1,051 | 1,157 |
| Total assets | – | 2,072 | 2,409 | 2,758 | 3,015 |
| Fixed assets | – | 275 | 254 | 284 | 315 |
| Capital work in progress | – | 3 | 9 | 2 | 7 |
| Investments | – | 74 | 76 | 74 | 36 |
| Receivables | – | 410 | 502 | 494 | 535 |
| Inventory | – | 472 | 494 | 507 | 595 |
| Payables | – | 41 | 497 | 559 | 658 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -24 | 273 | 341 | 395 | 350 |
| Cash from investing | -17 | 30 | -51 | 77 | 11 |
| Cash from financing | 98 | -202 | -238 | -150 | -251 |
| Capex | 25 | 23 | 28 | 53 | 51 |
| Free cash flow | -48 | 250 | 314 | 342 | 298 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 19.7% | 23.8% | 24.6% | 22.6% |
| ROCE % | – | 23.2% | 26.9% | 27.4% | 25.3% |
| Debtor days | – | 50 | 55 | 50 | 48 |
| Inventory days | – | 92 | 93 | 88 | 93 |
| Payable days | – | 8 | 93 | 97 | 103 |
| Cash conversion cycle (days) | – | 134 | 55 | 41 | 38 |
| Working capital days | – | 100 | 102 | 108 | 102 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 66.80% |
| FIIs | 8.63% |
| DIIs | 7.91% |
| of which Mutual funds | 5.98% |
| of which Insurance | 1.64% |
| Government | 0.33% |
| Public (non-institutions) | 16.33% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 67.14% | 67.14% | 67.14% | 67.11% | 67.11% | 67.01% | 66.85% | 66.80% |
| Promoter group | % |
|---|---|
| Gulf Oil International (Mauritius) INC | 66.80% |
| Public holders above 1% | % |
|---|---|
| ICICI Prudential Smallcap Fund | 2.90% |
| Uti-mnc Fund | 1.51% |
| The Prudential Assurance Company Limited | 1.35% |
72,382 shareholders. Pledged: 0.00% of promoter shares.
Peers in Lubricants
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| CASTROLIND | ₹18,870 cr | 17.8x | 9.9x | 57.0% | 75.8% | 24.0% | – | – |
| GULFOILLUB | ₹5,201 cr | 13.8x | 3.4x | 25.0% | 27.3% | 12.1% | +10.6% | 4.64% |
| SOTL | ₹4,723 cr | 11.4x | 2.6x | 23.8% | 31.8% | 10.7% | +6.3% | 0.58% |
| GANDHAR | ₹2,939 cr | 9.8x | 2.2x | 23.3% | 29.8% | 9.3% | – | 0.41% |
| PANAMAPET | ₹2,817 cr | 5.9x | 1.9x | 35.2% | 39.2% | 14.8% | +10.9% | 0.64% |
| VEEDOL | ₹2,166 cr | 9.8x | 2.1x | 22.6% | 23.9% | 11.7% | +5.4% | 4.67% |
| GULFPETRO | ₹333 cr | 8.2x | 0.9x | 11.9% | 15.1% | 7.6% | -6.7% | – |
| GVL | ₹43 cr | 57.2x | 0.5x | 1.6% | 1.8% | 8.9% | – | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-04 | Dividend | Dividend - Rs 30 Per Share |
| 2026-02-13 | Dividend | Interim Dividend - Rs 21 Per Share |
| 2025-09-19 | Dividend | Dividend - Rs 28 Per Share |
| 2025-02-14 | Dividend | Interim Dividend - Rs 20 Per Share |
| 2024-09-05 | Dividend | Dividend - Rs 20 Per Share |
| 2024-02-13 | Dividend | Interim Dividend - Rs 16 Per Share |
| 2023-08-25 | Dividend | Dividend - Rs 25 Per Share |
| 2022-09-08 | Dividend | Dividend - Rs 5 Per Share |
| 2022-02-18 | Buyback | Buy Back |
| 2021-09-08 | Dividend | Annual General Meeting/Dividend - Rs 9 Per Share |
| 2021-02-16 | Dividend | Interim Dividend - Rs 7 Per Share |
| 2020-09-10 | Dividend | Dividend - Rs 7 Per Share |
| 2020-04-22 | Dividend | Interim Dividend - Rs 7 Per Share |
| 2019-09-09 | Dividend | Dividend - Rs 7 Per Share |
| 2019-02-22 | Dividend | Interim Dividend - Rs 4.50 Per Share |
| 2018-09-14 | Dividend | Dividend Rs 6.50 Per Share |
| 2018-02-16 | Dividend | Interim Dividend Rs 4/- Per Share |
| 2017-09-07 | Dividend | Dividend - Rs 5/- Per Share |
| 2017-02-15 | Dividend | Interim Dividend Rs 3.50 Per Share |
| 2016-08-31 | Dividend | Annual General Meeting/ Dividend - Rs 4/- Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Coke and Petroleum Products
| Sector | Energy |
| Industry | Lubricants |
| Sub-industry | Lubricants |
| Symbol | GULFOILLUB |
| BSE code | 538567 |
| ISIN | INE635Q01029 |
| Face value | ₹2.0 |
| Incorporated | 2008-07-17 |
| Website | https://india.gulfoilltd.com |
| Plants (India / abroad) | 2 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.