Gulf Oil Q2 Net Profit Grows 34% to Rs 117 Crore on Volume Expansion

Gulf Oil Lubricants India reported a 34.48% year-on-year increase in standalone net profit for Q2 FY27, recording Rs 117 crore compared to Rs 87 crore in the corresponding period of the previous financial year. Profitability was supported by strong volume growth across consumer, commercial, and industrial segments.

Standalone revenue from operations for Q2 FY27 expanded by 44% year-on-year to Rs 1,379 crore from Rs 957 crore in the prior-year period. Total standalone expenses rose to Rs 1,223 crore compared with Rs 842 crore in Q2 FY26, driven by higher operational costs and elevated raw material prices stemming from West Asia supply chain disruptions.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 37.29% to Rs 163 crore from Rs 118 crore, while EBITDA margin contracted by 58 basis points to 11.8% against 12.4% in the year-ago quarter.

The company noted that timely pricing interventions, effective raw material sourcing, and operational efficiency helped offset elevated input costs and maintain profitability.

Total lubricant sales volumes grew 16% year-on-year during the quarter. Growth was recorded across OEM franchise workshops, industrial B2B accounts, marine segments, and commercial fleet sectors. Its electric mobility subsidiary, Tirex, recorded a 78% revenue growth in the quarter as it expanded its fast-charging infrastructure across OEM, charge point operator, and fleet client segments.

"Q2 was testament to our agility amid the continued challenging environment. Despite elevated input cost and Q2 being a monsoon quarter, we stayed strong with the growth momentum delivering industry leading 16% lubricants volume growth during the quarter," said Ravi Chawla, Managing Director and CEO of Gulf Oil Lubricants India.

"Our timely pricing interventions and effective sourcing helped us to manage our per litre margin band with focus on gaining market share across segments. We closed the quarter and half year on a strong note, reporting 37% growth in EBITDA during the quarter supported by strong volume growth and calibrated pricing actions," said Manish Gangwal, Whole-Time Director and CFO.

For H1 FY27, standalone net profit grew 33.15% to Rs 245 crore compared to Rs 184 crore in H1 FY26. Standalone revenue from operations for H1 FY27 rose 38.25% to Rs 2,700 crore against Rs 1,953 crore in the corresponding period of the previous financial year. Total standalone expenses for the six-month period scaled to Rs 2,380 crore compared to Rs 1,714 crore in H1 FY26.