Gulf Oil Lubricants India Limited reported a 12.65% year-on-year increase in standalone revenue from operations for the second quarter of fiscal year 2026, reaching Rs 956.78 crore compared to Rs 849.33 crore in the same period last year.
The Hinduja Group company’s profit after tax for Q2 stood at Rs 87.13 crore, marking a 3.19% growth over the previous year. On a consolidated basis, the company posted revenues of Rs 966.77 crore, up 11.90% year-on-year.
For the half-year period ending September 30, 2025, Gulf Oil’s standalone revenue reached Rs 1,953.14 crore, registering 12.61% growth, while profit after tax increased 6.57% to Rs 183.79 crore. EBITDA for the quarter grew 10.56% to Rs 118.46 crore.
The company’s performance comes despite what management described as a seasonally impacted quarter due to uneven monsoon patterns. Gulf Oil said it achieved core lubricants volume growth at 2-3 times the industry rate.
Managing Director and CEO Ravi Chawla highlighted strength across multiple segments, with the B2C segment showing strong momentum in personal mobility and rural markets driven by the agriculture sector. The B2B segment recorded broad-based growth across industrial, infrastructure, and mining sectors, while the OEM segment achieved its highest-ever quarterly volume.
CFO Manish Gangwal noted that EBITDA margin was maintained at 12.4% despite input cost pressures from sharp rupee depreciation. However, profit after tax was impacted by higher finance costs due to adverse currency movements leading to mark-to-market forex losses.
In a significant development, the company’s board approved the acquisition of an additional 14% stake in its EV charger subsidiary Tirex Transmission, increasing Gulf Oil’s holding to 65%. The investment of approximately Rs 38 crore reflects confidence in Tirex’s growth potential, which posted 75% revenue growth in H1 with topline revenues of Rs 42 crore.
The company launched new variants of Gulf Syntrac, a fully synthetic engine oil range for premium motorcycles, and continued its M-Power program engaging with mechanics nationwide. Gulf Oil was also recognized as one of India’s Best Managed Companies 2025 by Deloitte India.
On the sustainability front, the company extended its Road to Livelihood program in Silvassa, reaching over 700 students, and inaugurated its second Suraksha Clinic in Sankagiri for the driver community.
Gulf Oil Lubricants operates with manufacturing facilities in Silvassa and Chennai, serving domestic markets through an extensive distribution network and exporting to over 25 countries.