Gulf Oil Lubricants India Ltd (GOLIL), was got listed on the BSE and NSE stock exchanges yesterday, is to manage the standalone lubricant business under the Gulf Oil brand in India.
01 Aug 2014 | 11385 Views | By Autocar Pro News Desk
Gulf Oil Lubricants India Ltd (GOLIL), was got listed on the BSE and NSE stock exchanges yesterday, is to manage the standalone lubricant business under the Gulf Oil brand in India. This follows the demerger of the lubricants business of Gulf Oil Corporation to GOLIL.
According to Sanjay G ...
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Gulf Oil Lubricants India Ltd (GOLIL), was got listed on the BSE and NSE stock exchanges yesterday, is to manage the standalone lubricant business under the Gulf Oil brand in India. This follows the demerger of the lubricants business of Gulf Oil Corporation to GOLIL.
According to Sanjay G Hinduja, chairman, Gulf Oil International, “Gulf Oil Lubricants India aims to realise its vision of becoming one of the top three lubricant brands in the industry with expected support from the growing Indian economy. The company will enhance its distribution, invest in the brand and secure more OEM tie-ups. Further, this is in line with our global vision of being one of the largest independent downstream players in lubricants and speciality chemicals in the world.”
Ravi Chawla, managing director, GOLIL, said: “In the past 5-6 years, our strategies of leveraging our longer drain technological prowess, increasing our distribution reach and innovative brand-building initiatives have resulted in volumes, revenues and profits growing multi-fold. The lubricant business has attained CAGR growth of about 15 percent in revenues and about 42 percent in profits before taxes over the past 6 years. The lubricant business has delivered an EBIDTA margin of over 12 percent consistently and the volume growth rates are more than double the industry growth rates during this period, to emerge as one of the fastest growing lubricant majors in India. With this demerger we have plans to further expand our current 7 percent market share in the ‘open market’ namely the bazaar channel and in the B2B related – OEM, industrial and infrastructure segments.”
The company is also targeting to increase its presence in the tractor segment with OEM tie-ups and a focus on exports to neighboring countries in the coming months. It has also put in place plans to enhance manufacturing capacities at its current plant at Silvassa and is also in an advanced stage of setting up a new plant near Chennai.