Q3 2026 Gulf Oil Lubricants India Ltd Earnings Call Transcript
Key Points
- Gulf Oil Lubricants India Ltd (BOM:538567) achieved an all-time high in quarterly volumes, reaching 41,500 kL.
- The company reported the highest quarterly revenue and EBITDA, indicating strong momentum.
- Lubricant volumes grew by 8% in the quarter, outperforming the industry growth rate.
- Double-digit growth was observed in key segments such as passenger car motor oil and agriculture.
- The OEM franchisee workshop segment experienced high double-digit growth, reinforcing Gulf Oil's market leadership.
- Some segments, such as exports and marine, experienced slower growth, impacting overall lubricant sales.
- The company faced cost pressures due to rupee depreciation, although managed to extend EBITDA margins.
- There was a one-time income from the sale of surplus land in the previous year, affecting year-over-year comparisons.
- The commercial vehicle segment, while showing signs of revival, has been growing at a slower pace.
- The implementation of a new labor code resulted in a one-time provisioning expense, impacting financials.
Ladies and gentlemen, good day and welcome to Gulf Oil Lubricants India Limited, Q3 FY26 earnings conference call hosted by ICICI Securities Limited.
(Operator Instructions)
Please note that this conference is being recorded. I now hand the conference over to Mr. Probal Sen from ICICI Securities Limited.
Thank you and over to you, sir.
Thank you, operator.
Thank you everyone for making the time to attend this post Q3, FY26 result call of Gulf Oil Lubricants. We have with us members of the senior management headed by Mr. Ravi Chawla, the Managing Director and CEO and Mr. Manish Gangwal, the whole-time Director, CFO of the company, we will, the format will be as always, management will give their opening remarks and outlook on the company, and then we will move into an interactive Q&A around.
So, without further ado, let be handed over to the management over to you, sir.
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