Gulf Oil Lubricants India Limited records 38.1 percent PAT growth in Q 4
The Company ended the year with Q IV setting new records for profits & good volume growth. Q IV was a robust quarter achieving a PAT growth of 38.1 percent YoY at Rs. 30.04 Crores and full year PAT growth is 29.6 percent at Rs. 100.31 Crores.
Company’s Quarter IV EBIDTA has also shown a healthy growth of approx. 27.1 percent compared to previous year QIV. Company’s EBIDTA margins expanded further during the quarter to approx. 16.8 percent, 80 bps sequential improvement and approx. 320 bps improvement YoY for Q IV.
The Board of Directors at their meeting held on May 11, 2016, recommended a final dividend of Rs. 4 per equity share ( i.e. 200 percent on face value of Rs. 2 per equity share) subject to approval of members in the coming AGM. Earlier during the year, the Board had declared and paid interim dividend of Rs 3.00 per equity shares (i.e. 150 percent of face value). With this, the total dividend for the year stands at Rs 7.00 per share (i.e. 350 percent of Face Value of Rs 2 per equity shares).
The Company continued its volume and revenue growths across all key segments recording double digit volume growths in motorcycle oils, key OEM volumes and sale to direct customer in infrastructure & industrial segment. Added to this, an Institutional order also enabled the company to clock an overall double digit growth in volumes. There is also positive growth in diesel engine oil segment for the Company.
Company has gained further market share in MCO (2-wheeler) segment achieving double digit growth during the year, which is more than 2 times the market growth, aided by a TV campaign to promote consumer proposition of ‘Insta Pick-Up’. Earlier in the year, we also launched Gulf Pride Scooter oil catering to the rising sales of scooters in the market. The category also introduced in the market its new global packs. The following investments were backed with a 360 degree campaign including a social media campaign, consumer and trade promotions.
The PCMO segment was revamped with the portfolio focus on fast growing Synthetic products lineup and the year saw introduction of Ultrasynth (10W-40, 5W-30), an entry level synthetic product along with Formula G series (High performance fully synthetic products) launched on a grand scale in New Delhi by brand ambassador M. S. Dhoni.
Company is also seeing a pickup in the commercial vehicles led DEO segment during the year.
Recently, the Company announced three new brand associations. At an India level, the Company sponsored Rising Pune Supergiants, an Indian Premier League (IPL) Franchise, to create visibility and ground level activations in one of India’s most viewed platform of IPL.
At the Global level, Gulf Oil International announced two major associations, one with world’s leading football club Manchester United and another with Team Milwaukee BMW for World Superbike Championship. Gulf India also announced the Manchester United global tie-up in Mumbai
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