Gulf Oil Lubricants posts marginal growth in Q4 -; FY22 numbers; stock ends lower

23 May 2022 , 03:33 PM

Gulf Oil Lubricants Limited, a Hinduja group company, has reported its Audited financial results (Standalone) for the financial year ended March 31, 2022.

During the quarter ended March 31, 2022, the company has logged a Net Revenue of Rs638.93 crore, and PAT of Rs63.39 crores as compared to a Net Revenue of Rs517.43 crore and PAT of Rs59.79 crore respectively in the quarter ended March 31, 2021.

For the year ended March 31, 2022, the company has clocked a Net Revenue of Rs2,191.64 crore and PAT of Rs211.08 crore as compared to a Net Revenue of Rs1,652.21 crore and PAT of Rs200.09 crore respectively for the previous financial year.

The company’s board has recommended a dividend of Rs5 per equity share of Rs2 per share (250%).

The company has recently concluded a buy-back of 14,16,667 fully paid-up equity shares of the face value of Rs2 for Rs600 per fully paid-up Equity Share in cash for an amount of Rs85 crore.

The company continued to report very good revenue growths for the quarter at 23.5% YoY and the financial year ended on a high at 32.6% yoy growth despite many challenges all through the year. All segments of business have done well and demand conditions have picked up. Diesel Engine Oils for Commercial Vehicles and Passenger Car Motor Oils saw very good volume growth, as the Company has increased market share in both B2C and B2B segments.

Gulf Oil Lubricants ended at Rs407.10 down by Rs2.4 or 0.59% from its previous closing of Rs409.50 on the BSE. The scrip has touched day’s high and low of Rs420.60 and Rs405.50 respectively.