Gulf Oil Lubricants India and Piaggio Vehicles (Piaggio India), a 100 % subsidiary of the Italian Piaggio Group and India's leading manufacturer of small commercial vehicles have renewed their strategic partnership agreement to extend collaboration in delivering genuine and co-branded lubricants across Piaggio's commercial vehicle segment. This exclusive partnership, renewed until 2030, underscores both companies' commitment to high-performance, customized lubricant solutions and sets the foundation for further growth across retail, factory-fill, and export markets. With the renewal, Gulf will continue as Piaggio India's exclusive lubricant partner for all factory fill, workshop, and retail requirements in India, along with exports to select international markets. The partnership will cover the full spectrum of lubricants, including advanced BS VI oils and new EV fluids, developed to meet the evolving needs of Piaggio India's growing customer base.Powered by Capital Market - Live

The agency has affirmed the company's short-term rating at '[ICRA] A1+'. ICRA stated that the rating upgrade factors in the expectation of healthy improvement in the credit profile of the company over the next couple of years as the demand for its products is expected to remain healthy supported by increasing vehicle sales, wide distribution network and a strong brand recall for the company's products. The ratings continue to factor in the company's strong financial profile, characterised by healthy profitability levels and return indicators and a comfortable capital structure. In FY2024, the company witnessed healthy revenue growth driven by a mix of growth in the sales volume and realisations. The operating profit also increased in FY2024 driven by the growth in volumes and company passing on the increase in the raw material prices to consumers. The trend has continued in H1 FY2025 with company witnessing healthy volume growth and associated growth in operating profits. The ratings continue to consider the company's ability to maintain healthy profitability levels on the back of timely price revisions to partly mitigate the impact of base oil price movements. The company has also been witnessing improvement in its market share in the domestic lubricants industry, driven by its strong marketing efforts, the well-recognised Gulf brand and a wide distribution network. The company also benefits from being part of the Hinduja group as it derives operational and strategic benefits from being part of the group. The ratings are, however, constrained by the exposure of the company's profitability to the movements in base oil prices. Its profitability is also exposed to forex movements (to the extent of the unhedged exposure). The company's operations will continue to be exposed to the demand indicators from the automotive sector. The ratings also consider the highly competitive pressures in the domestic market, which is largely dominated by Government-owned oil marketing companies (OMCs), apart from other established players in the private sector. Gulf Oil Lubricants India (GOLIL) is part of the transnational conglomerate Hinduja Group. GOLIL sells its lubricants products under the Gulf brand with sales largely to the automotive sector along with industrial users.Powered by Capital Market - Live

Gulf Oil Lubricants India has received upgrade in credit ratings from ICRA as under: Long term fund based cash credit (Rs 92 crore) - ICRA AA+; Stable (upgraded from ICRA AA; Stable) Short term - fund based/non fund based-others (Rs 50 crore) - ICRA A1+ (reaffirmed) Short term non fund based- others (Rs 490 crore) - ICRA A1+ (reaffirmed)Powered by Capital Market - Live

Net profit of Gulf Oil Lubricants India rose 13.74% to Rs 83.71 crore in the quarter ended September 2024 as against Rs 73.60 crore during the previous quarter ended September 2023. Sales rose 7.69% to Rs 863.98 crore in the quarter ended September 2024 as against Rs 802.30 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales863.98802.30 8 OPM %12.4312.52 - PBDT124.59110.12 13 PBT111.4498.99 13 NP83.7173.60 14 Powered by Capital Market - Live

Gulf Oil Lubricants India will hold a meeting of the Board of Directors of the Company on 6 November 2024Powered by Capital Market - Live

Gulf Oil Lubricants India has allotted 38,241 equity shares under ESOP. With this allotment, the paid up equity share capital has increased to o Rs. 9,84,81,602/- consisting of 4,92,40,801 equity shares of Rs. 2/- each. Powered by Capital Market - Live

Gulf Oil Lubricants India has received upgrade in credit ratings from Infomerics Ratings as under: Long term bank facilities (Rs 15 crore) - IVR A / Stable (upgraded from IVR A- / Stable) Short term bank facilities (Rs 1445 crore) - IVR A1 (upgraded from IVR A2+) Powered by Capital Market - Live

Gulf Oil Lubricants India announced that the 16th Annual General Meeting (AGM) of the company will be held on 12 September 2024.Powered by Capital Market - Live

The headline equity benchmarks traded with substantial gains in early afternoon trade. The Nifty traded above the 24,250 mark. Media shares extended gains for the second consecutive trading session. At 12:26 IST, the barometer index, the S&P BSE Sensex, was up 773.11 points or 0.98% to 79,366.18. The Nifty 50 index gained 277.15 points or 1.16% to 24,269.70. The broader market outperformed the headline indices. The S&P BSE Mid-Cap index added 1.95% and the S&P BSE Small-Cap index gained 1.82%. The market breadth was strong. On the BSE, 2,857 shares rose and 954 shares fell. A total of 110 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 9.39% to 16.98. The Nifty 29 August 2024 futures were trading at 24,299.75, at a premium of 30.05 points as compared with the spot at 24,269.70. The Nifty option chain for the 29 August 2024 expiry showed maximum Call OI of 37 lakh contracts at the 25,000 strike price. Maximum Put OI of 40.8 lakh contracts were seen at 24,000 strike price. Buzzing Index: The Nifty Media index gained 2.04% to 2,048.15. The index rallied 2.19% in two consecutive trading sessions. TV18 Broadcast (up 4.42%), Tips Industries (up 3.65%), PVR Inox (up 3.41%), Network 18 Media & Investments (up 2.44%), Hathway Cable & Datacom (up 2.36%), Nazara Technologies (up 2.34%), Zee Entertainment Enterprises (up 1.8%), Dish TV India (up 1.14%) and Sun TV Network (up 1.08%) advanced. Stocks in Spotlight : Gulf Oil Lubricants India surged 7.29% after the company's consolidated net profit jumped 28.89% to Rs 88.02 crore in Q1 FY25 as compared with Rs 68.29 crore posted in corresponding quarter last year. Revenue from operations increased 9.04% YoY to Rs 885.07 crore during the quarter. Gland Pharma slipped 3.10% after the company's consolidated net profit declined 25.94% to Rs 143.76 crore in Q1 FY25 as compared with Rs 194.10 crore in Q1 FY24. Revenue from operations jumped 15.97% YoY to Rs 1,401.70 crore in Q1 FY25. Powered by Capital Market - Live

Revenue from operations increased 9.04% YoY to Rs 885.07 crore during the quarter. Profit before tax (PBT) climbed 28.8% to Rs 118.20 crore in Q1 FY25 as compared with Rs 91.77 crore in Q1 FY24. EBITDA stood at Rs 116.24 crore during the quarter, registering the growth of 25.28% as compared with Rs 92.78 crore posted in corresponding quarter last year. EBITDA margin expanded by 170 bps to 13.13% during the quarter as against 11.43% in Q1 FY24. The company maintained its EBITDA margin within the guided range of 12-14% as the company increased investment in brand and customer-centric activities. Ravi Chawla, managing director & CEO, Gulf Oil Lubricants India, said, 'Our lubricants volume grew 2x the industry rate and it was evident across major segments, with the B2C and Industrial segment both doing well. This highlights our relentless efforts and reliable performance, setting industry benchmarks. Looking ahead, we aim to drive industry leading volume and revenue growth, generating more resources to invest in our brand and focus on premiumization.We remain confident in the medium to long-term potential of the Indian lubricants sector.With our strong brand, execution capabilities, extensive distribution network and strong relations with our OEM partners and B2B customers, we are well-positioned to capitalize on industry opportunities. We are also committed on capitalizing on opportunities in the EV value chain with our strategic investments in e-mobility space to transform and achieve significant growth in the next 4-5 years.' Manish Gangwal, CFO, Gulf Oil Lubricants India, said, 'Going forward, in-spite of global uncertainties, we remain focussed on margin management through prudent cost controls and improved product/segment mix, enhancing profitability and maximizing shareholder returns. We continue to explore opportunities in EV space, which can be synergistic to our brand, distribution strengths catering to evolving needs of our existing and new customers/consumers. Gulf Oil Lubricants India, part of Hinduja Group and Gulf Oil International, is one of the leading players in the lubricant market in India and has a top 2/3 position in key segments amongst the private sector brands. The company has a wide range of world class-leading products in the automotive and industrial lubricants space catering to B2B and B2C segments with a growing distribution network. The company also has a growing share in the 2-wheeler batteries segment.Powered by Capital Market - Live