GULFOILLUB

** Gulf Oil Lubricants India GOLU.NS jumps 6.7% to 1,149 rupees; eyes fourth straight session of gains

** Co's Q3 profit after tax grows ~22% y/y, helped by strong sales volume growth; rev up 10.7%

** Stock gained ~69% in 2024, outperforming rival Castrol India's CAST.NS ~9% rise

(Reporting by Yagnoseni Das in Bengaluru)

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Feb 6 (Reuters) - Gulf Oil Lubricants India Ltd GOLU.NS:

• DIVIDEND OF 20 RUPEES PER SHARE

• DEC-QUARTER CONSOL NET PROFIT 979.1 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 9.2 BILLION RUPEES

Source text: ID:nBSE25GK8r

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** Shares of Gulf Oil Lubricants GOLU.NS rise as much as 5.2% to 1232 rupees

** Co announces three-year partnership with fuel retailer Nayara Energy

** Partnership will see co's entire automotive product range made available across Nayara Energy's over 6500 fuel retail outlets

** Stock set to snap three straight months of decline

** GOLU last up 3.1%, extending YTD gains to 68%

(Reporting by Anuran Sadhu in Bengaluru)

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Dec 17 (Reuters) - Gulf Oil Lubricants India Ltd GOLU.NS:

• GULF OIL RENEWS EXCLUSIVE PARTNERSHIP UNTIL 2032 WITH PIAGGIO INDIA

Source text: ID:nBSE6Z1jG8

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** Gulf Oil Lubricants India GOLU.NS rises as much as 2.7% to 1,092 rupees

** Co renews partnership with Piaggio India till 2030; will continue as Piaggio India's exclusive lubricant partner

** GOLU last up 2%, extending YTD gains to ~51%

(Reporting by Anuran Sadhu in Bengaluru)

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Nov 25 (Reuters) - Gulf Oil Lubricants India Ltd GOLU.NS:

• GULF OIL LUBRICANTS - RENEWAL OF LONG TERM PARTNERSHIP WITH PIAGGIO VEHICLES

• GULF OIL LUBRICANTS - PARTNERSHIP FOR MARKETING HIGH-PERFORMANCE LUBRICANT SOLUTIONS

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Nov 6 (Reuters) - Gulf Oil Lubricants India Ltd GOLU.NS:

• SEPT-QUARTER CONSOL NET PROFIT 837.1 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 8.64 BILLION RUPEES

Source text: ID:nBSE9CDprp

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** Shares of Gulf Oil Lubricants India Ltd GOLU.NS up 8.4% at 1,168.3

** GOLU on Tuesday said Q1 profit rose 26.5%, helped by strong sales volume growth

** Over 712,000 traded, 1.6x 30-day avg volume

** Stock extends YTD gains to ~62%, beating rival Castrol India's CAST.NS 41% rise this year

(Reporting by Nandan Mandayam in Bengaluru)

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Aug 6 (Reuters) - Gulf Oil Lubricants India Ltd GOLU.NS:

• GULF OIL LUBRICANTS INDIA LTD JUNE-QUARTER CONSOL NET PROFIT 860.4 MILLION RUPEES

• GULF OIL LUBRICANTS INDIA LTD JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 8.94 BILLION RUPEES

Source text for Eikon: ID:nBSE7yhjFB

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BENGALURU, July 30 (Reuters) - Engine oil maker Castrol India CAST.NS reported a 3.1% increase in second-quarter profit on Thursday as the continuing rise in vehicle sales boosted its mainstay business of automobile lubricants and helped offset the rise in costs.

The company, 51% owned by oil major BP BP.L, said profit after tax rose to 2.32 billion rupees ($27.7 million) in the April-June quarter, from 2.25 billion rupees a year ago.

India's two-wheeler sales, which have been rising for three straight quarters, grew 20.4% in the latest quarter, while commercial vehicle sales grew 3.5%.

Castrol said in early May that the automobile lubricants market, which accounts for more than 80% of its revenue, is growing at about 4%-5% in the country.

The company, which also makes industrial lubricants like turbine oils, said total revenue from operations grew 4.8% to 13.98 billion rupees in the quarter.

The results were also helped by product launches such as the 'Castrol EDGE' range, Managing Director Sandeep Sangwan said in a statement.

Total expenses grew 5.4%. The cost of raw materials and packing, which accounts for the bulk of expenses, increased by 6.6%.

Castrol India's shares closed 1.1% higher ahead of its results. They have risen 51% so far this year, while those of smaller peer Gulf Oil Lubricants India GOLU.NS have jumped 70.4%.

($1 = 83.6900 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Savio D'Souza)

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** Shares of Gulf Oil Lubricants India GOLU.NS up as much as 13.7% at 1,068.85 rupees; last up 11%

** Stock posts biggest intraday pct gain since August 2020

** Automotive and industrial lubricant maker reported a 37.4% Y/Y jump in its March-qtr net profit at 854.3 mln rupees ($10.3 mln)

** Revenue from operations rose 7.7% Y/Y

** EBITDA margin expands to 13.49% from 11.05% a year earlier

** Co declared final dividend of 20 rupees per share

** More than 481,000 shares traded by 10:00 a.m. IST, 4.4x its 30-day avg

** Including session's gain, stock is up 43% YTD, outpacing larger peer Castrol India CAST.NS, which is up 7.3%

($1 = 83.2400 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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May 21 (Reuters) - Gulf Oil Lubricants India Ltd GOLU.NS:

• MARCH-QUARTER NET PROFIT 854.3 MILLION RUPEES VERSUS 621.7 MILLION RUPEES

• MARCH-QUARTER REVENUE FROM OPERATIONS 8.53 BILLION RUPEES VERSUS 7.92 BILLION RUPEES

• FINAL DIVIDEND OF 20 RUPEES/SHR

Further company coverage: GOLU.NS

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BENGALURU, April 30 (Reuters) - Engine oil maker Castrol India CAST.NS reported a 6.8% rise in first-quarter profit on Tuesday, boosted by new product launches and resilient demand for its automobile lubrication products.

The company, in which oil major BP BP.L has a 51% stake, said profit after tax rose to 2.16 billion rupees (nearly $26 million) in the January-March quarter, from 2.03 billion rupees a year ago.

A significant rise in sales of two-wheelers and passenger vehicles during the quarter along with steady demand from existing vehicles benefited Castrol, which derives more than 80% of its revenue from automobile lubricants.

The company, which also manufactures industrial lubricants like turbine oils, said in a statement that the launch of new products significantly expanded its market share across segments.

Revenue from operations grew 2.4% to 13.25 billion rupees, despite soft consumer demand initially in the quarter, Managing Director Sandeep Sangwan said.

Total expenses grew 2.9%, as compared to a roughly 9% growth a year earlier, while the cost of raw materials and packing materials stayed flat in the quarter.

Castrol India's shares closed 0.6% down ahead of its results. They have risen 17.3% so far this year, while those of smaller peer Gulf Oil Lubricants India Ltd GOLU.NS have jumped 43.2%.

($1 = 83.3980 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Savio D'Souza)

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** Shares of Gulf Oil Lubricants India Ltd GOLU.NS rise as much as 7.7% to highest since February 2018

** Stock ends 7% higher at 1,067.3 rupees

** ICICI Securities starts coverage of GOLU with "buy", Street-high price target of 1,250 rupees, per LSEG data

** Brokerage highlights stock's industry-leading earnings momentum and volume growth, and says it sees scope for re-rating since stock still trades at "steep discount" to competitor Castrol CAST.NS

** Gulf Oil has a 12-month forward P/E of 14.1 vs CAST's 21.7 - LSEG

** GOLU has grown market share and improved margins in "extremely competitive lubricants space"; will see sustained growth over next 3-5 years thanks to strong demand for commercial vehicles, increasing demand for EV, industrial fluids - ICICI

** Stock up 48.6% so far this year, rose ~70% in 2023, outperforming CAST in both years

(Reporting by Nandan Mandayam in Bengaluru)

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Dec 7 (Reuters) - An alert on Boston-based Gulf Oil entering a partnership with the Boston Celtics has been withdrawn as it was incorrectly tagged to Gulf Oil Lubricants India Ltd GOLU.NS, an unrelated entity.

There will be no substitute.

STORY_NUMBER:nTUA7GQNWK

STORY_DATE:07/12/2023

STORY_TIME:02:38:20 PM GMT

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Oct 30 (Reuters) - Gulf Oil Lubricants India Ltd GOLU.NS:

• COMPLETION OF ACQUISITION OF 51% STAKE IN TIREX TRANSMISSION

Source text for Eikon: ID:nNSE7vf436

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** Shares of Gulf Oil Lubricants India GOLU.NS rise as much as 7.2% to 579.40 rupees, sharpest intraday pct gain since Aug. 4

** Co on Wednesday reported near 41% Y/Y jump in Q2 net profit and 11.5% rise in revenue

** Automotive and industrial lubricant maker said the quarter saw reasonably stable input costs, resulting in higher material margins and better product mix across segments

** Stock sees its most active trading session since Aug. 4, with more than 697,000 shares changing hands by 11:49 a.m. IST, 12.5x 30-day avg

** Stock has been trading above its 100-day SMA since May 18

** GOLU last up 5.2%, bumping YTD gains to about 34.4%

(Reporting by Ashish Chandra in Bengaluru)

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Oct 25 (Reuters) - Gulf Oil Lubricants India Ltd GOLU.NS:

• SEPT-QUARTER CONSOL NET PROFIT 736 MILLION RUPEES VERSUS PROFIT 522.5 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 8.02 BILLION RUPEES VERSUS 7.2 BILLION RUPEES

Source text for Eikon: ID:nBSE1GrTfp

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Aug 28 (Reuters) - Gulf Oil Lubricants India Ltd GOLU.NS:

• APPROVED ACQUISITION OF 51% CONTROLLING STAKE IN TIREX TRANSMISSION

• COST OF ACQUISITION AT ABOUT 1.03 BILLION RUPEES

• ACQUISITION POSITIONS CO TO CAPTURE SHARE OF INDIA MARKET POTENTIAL

• ACQUISITION TO HELP CAPTURE SHARE OF MARKET POTENTIAL EVALUATED AT $1 BILLION TO $1.4 BILLION IN 5-7 YEARS

Source text for Eikon: ID:nBSEbdVFKd

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May 18 (Reuters) - Gulf Oil Lubricants India Ltd GOLU.NS:

• GULF OIL LUBRICANTS INDIA LTD MARCH-QUARTER NET PROFIT 621.7 MILLION RUPEES VERSUS PROFIT 633.9 MILLION RUPEES

• GULF OIL LUBRICANTS INDIA LTD MARCH-QUARTER REVENUE FROM OPERATIONS 7.92 BILLION RUPEES VERSUS 6.39 BILLION RUPEES

Source text for Eikon: ID:nBSE8c2KL1

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Recasts first sentence with confirmation by his daughters, adds details of death in paragraph 2, details on family feud and history of business in paragraphs 7-11

LONDON, May 17 (Reuters) - Srichand Hinduja, the Indian-born billionaire leader of a global business empire and the patriarch of Britain's wealthiest family, has died aged 87, his daughters said on Wednesday.

Hinduja, known by his initials S.P., was suffering from dementia and his family said he had "passed away peacefully this morning."

He was chairman of the eponymous business group which owns public companies in India with interests in banking, chemicals, software and commercial vehicles.

Hinduja and his younger brother Gopichand, 83, topped the Sunday Times Rich List in 2022 for a fourth time, with an estimated net worth of 28.5 billion pounds ($36 billion) that includes property worth millions in central London.

"It is with deep sadness that we announce the passing of our father," Hinduja's daughters Shanu and Vinoo said in a statement.

"SP was a visionary titan of industry and business, humanitarian and philanthropist ... He touched countless lives on his path, and we are forever grateful for the time we cherished with him."

The Hinduja Group, which employs 200,000 people across more than 30 countries, was founded in 1914 by Parmanand Deepchand Hinduja, who traded in carpets and dried fruit from Iran before his sons Srichand and Gopichand shifted their base to Britain in the 1970s.

More recently the brothers have been embroiled in a feud over the future of their business empire and Gopichand had challenged the legitimacy of a lasting power of attorney granted to Srichand's daughters.

Gopichand and Srichand’s daughters had reached an apparent truce, but a lawyer representing Srichand's interests told a London court last month that that agreement was at risk.

"Amongst other things, SP will be remembered for his great contributions in bringing India and its culture to the global stage through his work and philanthropic efforts," Hinduja's daughters said.

($1 = 0.7923 pound)

(Reporting by Sachin Ravikumar and Sam Tobin in London
Editing by Toby Chopra and Matthew Lewis)

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