• Continues to outperform 2-3x industry volume growth rate in core lubricants
  • Q2 EBITDA grows at 11%
  • EV Charger subsidiary, Tirex revenue grows at 75% in H1, Board approves increase in stake by 14% to 65% in the subsidiary

India : Gulf Oil Lubricants India Limited, a Hinduja Group Company, has today reported its unaudited financial results (Standalone and Consolidated) for the quarter and half-year ended September 30, 2025. Key highlights (Standalone) are as under:                    

During the quarter ended Sept 30, 2025, on Standalone basis, the Company achieved revenue from operations of Rs. 956.78 Crores against Rs. 849.33 Crores, growth of 12.65% and PAT of Rs. 87.13 Crores against Rs. 84.44 Crores, growth of 3.19% compared to the Quarter ended Sept 30, 2024. On Consolidated basis, the Company achieved revenue from operations of Rs. 966.77 Crores against Rs. 863.98 Crores, growth of 11.90% and PAT of Rs. 83.95 Crores against Rs. 82.97 Crores, growth of 1.18% compared to the Quarter ended Sept 30, 2024.

During the half-year ended Sept 30, 2025, on Standalone basis, the Company achieved revenue from operations of Rs. 1,953.14 Crores against Rs. 1,734.40 Crores, growth of 12.61% and PAT of Rs. 183.79 Crores against Rs. 172.46 Crores, growth of 6.57% compared to the half year ended Sept 30, 2024. On Consolidated basis, the Company achieved revenue from operations of Rs. 1,983.23 Crores against Rs. 1,758.02 Crores, growth of 12.81% and PAT of Rs. 179.13 Crores against Rs. 167.27 Crores, growth of 7.09% compared to the half year ended Sept 30, 2024.

Mr. Ravi Chawla, Managing Director & CEO, Gulf Oil Lubricants India Ltd commented, “Despite a seasonally impacted quarter due to uneven monsoon pattern, we delivered a resilient performance during the quarter, in line with our guidance of achieving core lubricants volume growth 2–3x the industry rate and overall double-digit revenue growth.

The B2C segment showed strong momentum with healthy double-digit growth in personal mobility. Rural markets led by Agri sector also witnessed encouraging traction during the quarter, and we expect this momentum to continue. Similar strength was seen in the B2B segment, with broad-based growth across Industrial, Infrastructure, and Mining. In OEM segment, we recorded highest ever quarterly volume driven by sustained growth from existing partnerships.  We remain confident in our long-term structural growth across both our core lubricants and mobility segments. Our EV charger subsidiary, Tirex, in which we hold majority stake, delivered 75% revenue growth in H1. We are progressing well with ‘Unlock 2.0’ as our broader theme- accelerating growth across segments, leading in premium products, and transforming into a future-ready organization. With SPARK as our internal mantra, we are accelerating execution and energizing the next growth phase. Further, we are extremely proud to share that our organization has been recognized as one of ‘India’s Best Managed Companies 2025’ by Deloitte India. This honour reflects our successful and sustained business model based on our differentiated strategic execution, values, and commitment to excellence. Looking ahead, we expect healthy demand and remain focused on delivering high quality products, driving agility, and creating long-term value for all stakeholders as we advance towards our transformation journey.”

Mr. Manish Gangwal, CFO, Gulf Oil Lubricants India Ltd commented, “This quarter has been steady for us, delivering 12.6% revenue growth in both Q2 and H1, reflecting an improved product / segment mix. We grew our EBITDA by nearly 11% in spite of input cost pressures mainly due to sharp Rupee depreciation in Q2 and EBITDA margin was maintained at 12.4%. However, PAT was impacted by higher finance cost due to adverse INR movement leading to MTM forex losses accounted at quarter end. Going forward, we continue to closely monitor input cost trends while driving cost and margin management initiatives.

The recent GST reforms announced by the Government are a positive step toward boosting overall consumption and more particularly demand conditions in automotive sector have shown signs of good pick up setting the stage for sustained growth. Given the close linkage between the lubricants and automotive sector, going forward, we expect the positive momentum to reflect in the continued growth for our lubricants business.

With the strong and sustained performance of Tirex, the Board has today approved the acquisition of an additional 14% stake, increasing the overall holding to 65%, reaffirming the confidence in Tirex’s long-term growth potential and strategic importance to our overall business, while also positioning us well to capitalize on future opportunities in this segment.”

Key Business Highlights:

  • Achieved all round growth across segments with double-digit gain in PCMO and MCO category driving the B2C segment’s performance, alongside good momentum in the Agri sales and rural pickup.
  • EV Charger subsidiary Tirex, closed H1 with topline at Rs 42 Crores signifying 75% growth driven by existing customers scaling up their deployments and by new marquee wins, demonstrating  continued confidence in Tirex’s product and service quality.
  • Recorded highest ever quarterly volume in OEM segment with OEM Franchise Workshops (FWS) achieving good double-digit growth led by notable performance in Agri OEMs and positive demand from existing OEMs.
  • Recorded double-digit growth in the B2B Industrial and Infra, mining segments, driven by new customer acquisitions.
  • Participated in the Indian Plastics Institute (IPI) Plastotech and ACMEE exhibitions in Chennai, engaging with key stakeholders in the Industrial B2B segment.