Gulf Oil Lubricants India Limited reported a record-breaking performance for the quarter ended December 31, 2025, delivering its highest-ever quarterly volumes, revenues and EBITDA. On a standalone basis, Q3 FY26 revenue from operations stood at ₹997.92 crore, a growth of 10.28% year-on-year, while EBITDA increased 6.60% to ₹130.27 crore. EBITDA margins improved sequentially by 67 basis points to 13.05%.
On a consolidated basis, revenue for the quarter rose 10.56% year-on-year to ₹1,017.55 crore, with EBITDA increasing 7.80% to ₹132.46 crore. For the nine-month period ended December 31, 2025, standalone revenues grew 11.81% year-on-year to ₹2,951.07 crore, while EBITDA increased 8.60% to ₹375.31 crore. Consolidated revenues crossed ₹3,000 crore, reaching ₹3,000.78 crore, with EBITDA of ₹377.36 crore.
Commenting on the performance, Ravi Chawla, Managing Director & CEO, said “Q3 was a strong quarter for us, with record volumes, revenues and EBITDA. Lubricant volumes grew 8%, significantly outperforming industry growth, supported by strong demand across both B2C and B2B segments. Growth was broad-based, led by PCMO, Agri and OEM Franchise Workshop businesses.”
He added that improved affordability following GST rationalisation for ICE vehicles, along with continued focus on rural and agricultural markets, is expected to support demand in the coming quarters. The company’s EV subsidiary, Tirex, continued its strong growth trajectory, recording 83% revenue growth in Q3 and 78% growth over the nine-month period.
Manish Gangwal, Whole-Time Director & CFO, said “Our Q3 performance reflects strong execution, an improved product mix and stable commodity prices, which supported margin expansion and delivered our highest-ever quarterly EBITDA. Despite currency headwinds, EBITDA margins improved sequentially.”
He added that the company recognised an exceptional charge of ₹22.64 crore related to the new labour code during the quarter. Excluding one-time items, PAT grew 7.4% year-on-year. The Board has declared an interim dividend of ₹21 per equity share, reinforcing the company’s focus on delivering sustained value to shareholders.
Gulf Oil Lubricants India Limited, part of the Hinduja Group, holds a significant position in India’s lubricant market with a wide product range for automotive and industrial applications. The company maintains an extensive distribution network across India, collaborates with over 40 original equipment manufacturers (OEMs), serves 1,000+ industrial and institutional clients, and exports to more than 25 countries. It also leads in the AdBlue® product segment and ranks among the top five in the two-wheeler battery replacement market.
With manufacturing and research facilities in Silvassa and Ennore (Chennai), Gulf Oil is committed to innovation in mobility solutions, including investments in EV charging infrastructure and software. Globally, the brand operates in over 100 countries, offering more than 400 products. Gulf Oil’s brand strength is boosted by endorsements from prominent sports figures like Mahendra Singh Dhoni, Hardik Pandya, and Smriti Mandhana, and partnerships with Chennai Super Kings and Williams Racing.
