KIRA
KIRA Research · Energy / Oil & Gas · Lubricants

Gulf Oil Lubricants India Limited

NSE: GULFOILLUB · BSE: 538567 · ISIN INE635Q01029 · Data as of 2026-09-26
Research: READYConfidence: HIGHKIRA Score: Not yet scoredSmallFigures: INR crore; basis shown per row

KIRA view

Steady niche lubricant franchise; FY26 PAT slightly down. Dividend conflict resolved (Rs30 final / Rs51 total); spurious Q4 PAT figure (Rs136.52cr) rejected. Major strength: brand + distribution. Major risk: growth ceiling. ANALYSIS

Pillar 1 — Business Quality & Moat

Business overview, segments, revenue drivers, competitive position and industry standing.

Revenue drivers

  • Branded lubricant volumes ANALYSIS
  • B2B OEM tie-ups ANALYSIS
  • Base-oil cost pass-through ANALYSIS

Competitive position — peers

  • Castrol India ANALYSIS
  • Tide Water Oil (Veedol) ANALYSIS
  • Gandhar Oil ANALYSIS

Pillar 2 — Growth Quality

Revenue/AUM and profit growth, multi-year CAGR, growth consistency, growth drivers and relevant recent developments.

MetricPeriodValueBasisProvenanceSource
Net profit (PAT)FY26₹350.92 crStandaloneSOURCEDS10, S11
PAT growth (YoY)FY26-3.13%StandaloneSOURCEDS10, S11
Net profit (PAT)FY26₹347.63 crConsol.SOURCEDS10
dividend finalFY26₹30StandaloneSOURCEDS11
dividend totalFY26₹51StandaloneSOURCEDS11
Net profit (PAT)Q4FY26₹90.02 crStandaloneSOURCEDS11
revenue standaloneFY26₹3,991.31 crStandaloneSOURCEDS10, S11
revenue consolidatedFY26₹4,056.04 crConsol.SOURCEDS10, S11
EBITDA standaloneFY26₹510.38 crStandaloneSOURCEDS11
EBITDA consolidatedFY26₹513.89 crConsol.SOURCEDS11
Profit for the year (incl. NCI)FY26₹344.85 crConsol.SOURCEDS10, S11

Growth drivers

  • B2B/OEM tie-ups ANALYSIS
  • Premiumisation ANALYSIS
  • EV-fluids optionality ANALYSIS

Recent developments

  • 27 May 2026 — audited FY26 results approved (unmodified opinion, SRBC & Co LLP); final dividend ₹30/share recommended, ₹51/share total for FY26 (S10, S11). SOURCED S10, S11

Pillar 3 — Profitability & Return Ratios

Margins, ROE, ROCE, and ROA/NIM for financial companies.

NOT VERIFIED — no verified data for this pillar yet.

Pillar 4 — Balance Sheet Strength

Debt, leverage, liquidity, capital adequacy and asset quality where applicable.

Notes

  • Basis note: every Gulf Oil figure on this page is labelled STANDALONE or CONSOLIDATED; no ratio mixes the two. Balance-sheet detail not yet verified. ANALYSIS

Pillar 5 — Cash Flow & Earnings Quality

CFO, FCF, CFO/PAT, working capital and, for lenders, credit-cost quality.

MetricPeriodValueBasisProvenanceSource
CFO standaloneFY26₹362.52 crStandaloneSOURCEDS10
CFO consolidatedFY26₹349.65 crConsol.SOURCEDS10

Notes

  • note: Detail pending ANALYSIS

Pillar 6 — Governance & Shareholding

Promoter holding and pledge, FII/DII/public holding, auditor, board, regulatory actions and material litigation.

NOT VERIFIED — no verified data for this pillar yet.

Pillar 7 — Valuation Comfort

P/E, P/B, EV/EBITDA, dividend yield, historical and peer context — descriptive only; no price target.

NOT VERIFIED — no verified data for this pillar yet.

Pillar 8 — Technical Confirmation

Informational only: long-term trend context when properly sourced. No entry levels, targets, stop-losses or calls.

No sourced technical data. This pillar is informational only and never carries entry levels, targets, stop-losses or buy/sell/hold calls.

Material risks

  • Base-oil cost volatility ANALYSIS
  • Flat PAT trajectory (-3.1% FY26) ANALYSIS
  • Niche TAM limits ANALYSIS

Key questions to monitor

None recorded yet.

Sources

IDDocumentPublisherTypeDateAuthority
S10Audited standalone and consolidated financial results for the year ended 31-Mar-2026 (incl. statements of cash flows; auditor SRBC & Co LLP, unmodified)Gulf Oil Lubricants India Limitedaudited financial results2026-05-27PRIMARY
S11Press release Q4 FY26 — letter to BSE (538567) / NSE (GULFOILLUB), standalone and consolidated highlights and dividendGulf Oil Lubricants India Limitedresults press release (exchange filing)2026-05-27PRIMARY
S12NSE circular — listing of further issues (includes this company's symbol and ISIN)National Stock Exchange of Indiaexchange circular2026-04-28PRIMARY

Research status

Status
READY
Confidence
HIGH
Data as of
2026-09-26
KIRA Score
Not yet scored — no verified KIRA Score registry match
Method
Primary filings first; aggregators for cross-check only. SOURCED = from a cited document; ANALYSIS = KIRA interpretation; UNVERIFIED = not yet checked against a primary source.
Withheld
6 item(s) not yet verified are not shown.

Data conflicts

  • Resolved · financials.PAT.FY26 basis
    Standalone vs consolidated: revenue, PAT, EBITDA and cash flow exist on both bases.
    Both bases kept as separate labelled metrics from the audited results (S10) and press release (S11): revenue S 3,991.31 / C 4,056.04; PAT S 350.92 / C attributable 347.63 (C profit for year 344.85); EBITDA S 510.38 / C 513.89; CFO S 362.52 / C 349.65. No valuation multiple is published for this record, so no valuation denominator basis is used. No ratio combines bases. S10, S11