Gulf Oil Lubricants India Limited (GULFOILLUB) held an earnings conference call on 22 May 2025, to discuss the audited financial results for the quarter and year ended 31 March 2025.
Q4 was a record quarter with highest ever volumes in core lubes at 39,500 kl, revenue crossing ₹915 crore, and EBITDA at ₹124.47 crore.
The fiscal year 2024-25 was also a record year, surpassing revenue of ₹3,500 crore and increasing market share by nearly 0.5% across key segments.
Volume growth was more than 2x the industry growth rate.
Investments in EV subsidiary, Tirex, resulted in a strong year-end with revenue nearly tripling (300% growth).
The company launched two advertising campaigns: 'Unstoppables' and 'Gulf Pride' for motorcycle range with MS Dhoni as brand ambassador.
EBITDA for the full year grew by 12%, and PAT grew by nearly 17.5%.
Cash from operations for the year was ₹423 crore, leading to a cash balance of ₹1,027 crore at year-end.
The Board declared a final dividend of ₹28, bringing the total dividend for the year to ₹48, a payout ratio of 65%.
Gross margins for the quarter remained stable despite rupee depreciation.
AdBlue volumes reached 140,000 kl for the year.
The company is actively looking at investment opportunities in industrial businesses, adjacencies, and the EV segment.
The company is running at almost 100% capacity on a 2-shift basis at its Silvassa plant and may expand it shortly.
Management Outlook:
Expects to continue growing at 2x the industry rate.
Aims for sustainable margins in the 12%-14% band.
Focuses on increasing distribution and marketing efforts.
Continues to evaluate investments in the e-mobility space.