Full year’s net revenues up by 11.8% at Rs 1131.06 crores, gross sales at Rs 1301.59, up by 11.6%
Gulf Oil Lubricants India Limited, which is part of the Hinduja Group Company, has declared its financial results for the Year ended March 31, 2017.
In Q4, growth in volume for its core business (excluding base effect of one-time institutional order) has been continued by the company, recording a double digit volume growth for the quarter, of around 10%. Annual volume growth rate for the lubricant industry is estimated to be 2-3% for the year and the company achieved more than 3 times industry growth rate, as it has consistently done for last few years, and recorded approx. 11% volume growth for the full year. Its revenues and profits grew faster as a result of improvements in product mix, thereby increasing its market share across segments.
Q4 was robust, achieving a PAT growth of 6.8% YoY at Rs. 32.10 Crores, in spite of some impact due to demonetization continuing in certain segments and Company ended full year PAT growth at healthy 20.7% at Rs. 121.08 Crores.
In all the 3 key automotive segments of Commercial vehicles, Passenger Cars & Motorcycle Fuels, Gulf continued its momentum of growing faster than the market. In Personal mobility, higher growth in Synthetic and Premium grades was the key highlight. OEM dealership businesses across various product categories produced excellent growth, including new business generated by the recent tie-ups with Bajaj.
A final dividend of Rs. 5.00 per equity share was recommended by the Board of Directors, subject to approval of members in the coming AGM. Interim dividend of Rs 3.50 per equity share was declared by the Board earlier during the year. As such, total dividend of Rs. 2 per equity share stands for the year.
As Gulf continued its consumer promotions in the PCMO segment, investments in the brand continued to gain strength. A series of initiatives was launched by the company to connect better with its trade partners and influencers in CV segment.
The exclusive retailer Loyalty Program, 'Gulf Unnati', which focuses on trade and the need to instill & reward loyalty among trade partners, continued to add partners in Q-4. PWKD17052017
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