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HDFC Securities Retail Research
Gulf Oil Lubricants India Ltd. is one of the fastest growing players in the domestic industry and has regularly posted higher-than-industry growth in its volume sales.
The company has ability to maintain healthy profitability levels on the back of timely price revisions to partly mitigate the impact of base oil price movements as well as its improving market share in the domestic lubricants industry, driven by its strong marketing efforts, well-recognised 'Gulf' brand and wide distribution network.
Considering the company’s strong financial profile, led by healthy profitability levels and return indicators and a comfortable capital structure, we have a positive view on the stock. Its valuations are cheaper compared to its MNC peer and the stock also offers decent dividend yield.
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