Gulf Oil Lubricants Records Net Revenue Of Rs. 706.45 Cr In Q1FY23
Gulf Oil Lubricants India, a Hinduja Group Company, has reported its Unaudited financial results (Standalone) for the Quarter ended June 30, 2022.
Key highlights are as under
Particulars Rs. in crore | Q-1- FY-22-23 | Q1 -FY 21-22 | Growth Percentage Y-o-Y |
Net Revenue | 706.45 | 417.37 | 69.26 |
EBITDA | 85.03 | 42.13 | 101.83 |
Profit Before Tax (PBT) | 74.37 | 40.67 | 82.86 |
Profit After Tax (PAT) | 55.33 | 30.35 | 82.31 |
EPS (Basic) | 11.20* | 6.03* |
|
* Not Annualised
The company achieved record revenue for the quarter touching Rs. 706 crores at 69.26 per cent growth YoY.
The company in a statement said that all segments of business witnessed good growth led by the B2C segment covering bazaar market and OEM Franchise workshops, with demand conditions improving in most categories on the back of improved business environment, industrial and infra customer/OEM off takes and the impact of market reach & distribution initiatives.
While there has been continuous pressure on input costs due to upward crude movement, additive price hikes, sharp rupee depreciation and in general inflationary trend across all cost items, the Company has taken suitable pricing actions to minimise the impact and helped with the better product and segment mix, delivered improved YoY margins.
The company continues to invest in building its brand and driving CVPs (consumer value propositions) for its sub-brands in each segment.
During the quarter, the company conducted hundreds of tractor oil change camps across the country's rural belts and received very encouraging response. This can be one of the reasons that rural business and the tractor engine oil portfolio has started picking up after a relatively leaner period in last FY due to various macro-factors.
Mechanics are an essential part of the purchase-decision making process when it comes to Automotive engine oils and the company introduced a slew of activities and incentives for them this quarter to keep them engaged and to encourage them to promote the usage of Gulf products.
Some other key highlights during Q1 –
1. The Company has seen good traction in sales of AdBlue in recent months and is a front runner in supplying AdBlue across the entire country through its extensive distribution network and tie-ups with more than 10 OEMs.
2. The Company has collaborated with Shibaura Machine for supply of Lubricants for their Factory fill requirement, which is one of the largest Injection molding machine manufacturers of India.
3. The Company is objectively evaluating the evolving EV space & consulting experts in India & Globally and look for synergistic areas where Gulf can create differentiation in the EV ecosystem on the strengths of its brand, distribution reach and OEM relationships, he further added.”
