Hinduja Group Company Gulf Oil Lubricants India claims to have achieved record revenue during Q1FY23 touching INR 706 crore registering 69.26% growth YoY. The company's profit after tax stands at INR 55.33 crore as against INR 30.35 crore in Q1FY22.
Certain product categories, including diesel engine oil, passenger car oil, AdBlue, etc., have done particularly well during the quarter, noted Ravi Chawla, Managing Director & CEO, Gulf Oil Lubricants India. He said, 'As the markets are fully open and operating near normal, post two years of Pandemic, our theme is to 'Re-establish Connect & Re-energize Growth' by bringing back the personal touch at all levels and connect with all our stakeholders coupled with the rolling out of extensive outreach programmes to gain distribution and this quarter has already shown encouraging results on that front.'
During the quarter, the company conducted hundreds of tractor oil change camps across the country's rural belts. It also introduced a slew of activities and incentives for mechanics during this quarter. This was done to keep mechanics engaged and to encourage them to promote the usage of Gulf products.
The company has seen good traction in sales of AdBlue in recent months. Notably, Gulf Oil has tie-ups for supplying AdBlue to more than 10 OEMs. A collaboration with Shibaura Machine for the supply of lubricants was also inked during the quarter. Shibaura Machine is one of the largest Injection moulding machine manufacturers in India.
Maintaining margins is the key focus of the company for the next quarter. It also evaluates the evolving electric vehicle (EV) space and consulting experts in India and globally to find synergies in the sector.