Gulf Oil Lubricants India Limited announced a record performance for the third quarter ending December 31, 2025, achieving all-time high quarterly volumes, revenue, and EBITDA. Standalone revenue grew 10.28% YoY to Rs. 997.92 Crores. The company also declared an interim dividend of Rs 21.00 per share. Growth was broad-based, particularly in PCMO and Agri segments, while the EV subsidiary, Tirex, showed strong top-line growth.
Record Financial Performance for Q3 FY2026
Gulf Oil Lubricants India Limited (GOLIL), a Hinduja Group Company, has released its unaudited financial results for the quarter and nine months ended December 31, 2025, showcasing exceptional momentum across key performance indicators, including all-time high quarterly volumes, revenue, and EBITDA.
Standalone Financial Highlights (Q3 FY’26 vs. Q3 FY’25)
- Revenues from Operations stood at Rs. 997.92 Crores, marking a substantial growth of 10.28% year-over-year (YoY).
- EBITDA reached Rs. 130.27 Crores, increasing by 6.60% YoY.
- EBITDA Margin improved sequentially by 67 BPS to 13.05%.
Consolidated Financial Highlights (Q3 FY’26 vs. Q3 FY’25)
- Consolidated Revenue from Operations was Rs. 1,017.55 Crores, up 10.56% YoY.
- Consolidated EBITDA grew to Rs. 132.46 Crores, reflecting a 7.80% YoY increase.
- The nine-month consolidated revenue period was a major milestone, crossing Rs. 3,000 Crores (Rs. 3,000.78 Crores).
Management Commentary on Growth Drivers
Mr. Ravi Chawla, Managing Director & CEO, stated that the quarter saw all-time high performance driven by strong demand pickup in the second half. Overall lubricants volume grew by 8%, outperforming the industry, with double-digit growth led by Passenger Car Motor Oil (PCMO) and the Agri segment. He noted the positive impact of GST rationalisation on affordability and highlighted that the EV subsidiary Tirex achieved 83% top-line growth in Q3.
Mr. Manish Gangwal, Whole-Time Director & CFO, emphasized the strong execution capabilities leading to healthy double-digit topline growth and the highest-ever quarterly standalone EBITDA of Rs 130.27 Crores. He mentioned an exceptional item impact of Rs 22.64 Crores due to new labour codes in Q3. Crucially, the Board approved an interim dividend of Rs 21.00 per equity share, translating to 1,050% on the face value of Rs 2.
Key Business and Strategic Updates
Business Performance
- B2C Performance: Driven by high double-digit gains in PCMO and good momentum in Agri sales.
- B2B Performance: Double-digit growth recorded in Industrial and Infra segments via new customer acquisitions.
- OEM Segment: Achieved the highest-ever quarterly volume, with high double-digit gains in OEM Franchise Workshops (FWS).
Marketing and Partnerships
GOLIL actively participated in CII Excon 2025, showcasing new product lines, including Fire-Resistant Hydraulic Oil and Energy-Efficient Zinc Free Hydraulic Oil. Strategic partnerships were strengthened with leaders in road-building machinery, including Ammann India, ACE, and XCMG, for genuine lubricant offerings. Furthermore, Gulf sponsored the India Bike Week (IBW), showcasing top-tier racing technology.
E-mobility Progress
The EV charger subsidiary, Tirex, delivered positive EBITDA for the quarter and nine months, progressing as planned. Tirex has partnered with Mahindra & Mahindra for EV Charging Stations. Additionally, the EV SaaS provider, TechPerspect (ElectreeFi), was appointed by VinFast as its Charging Management System (CMS) partner.
Sustainability Initiatives
Both manufacturing plants in Chennai and Silvassa are now operating with 100% solar rooftop capacity, which contributed over 28% of total power consumption during the nine-month period. The company also continued its skill development commitment through the Kushal Mechanic Training Program.
Source: BSE
