Gulf Oil Lubricants India Ltd

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Gulf Oil Lubricants India is engaged in the business of manufacturing, marketing and trading of automotive and non automotive lubricants.(Source : 201903 Annual Report Page No: 109)

  • Market Cap 3,490 Cr.
  • Current Price 694
  • High / Low 846 / 540
  • Stock P/E 19.8
  • Book Value 153
  • Dividend Yield 2.02 %
  • ROCE 28.8 %
  • ROE 30.1 %
  • Face Value 2.00

Pros

  • Company has delivered good profit growth of 21.20% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 33.43%
  • Company has been maintaining a healthy dividend payout of 33.25%

Cons

  • The company has delivered a poor sales growth of 11.18% over past five years.

Peer comparison

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
373 390 417 462 436 441 421 422 360 241 412 482
310 326 346 389 362 363 346 344 304 216 333 399
Operating Profit 63 64 71 73 74 78 76 78 55 25 78 83
OPM % 17% 17% 17% 16% 17% 18% 18% 18% 15% 11% 19% 17%
Other Income 7 7 7 7 9 8 8 9 10 13 14 12
Interest 3 4 10 -2 3 3 7 4 10 7 5 1
Depreciation 4 5 6 6 6 8 8 8 9 8 9 9
Profit before tax 63 62 62 77 75 75 69 74 47 23 79 86
Tax % 35% 35% 35% 35% 36% 35% 10% 24% 23% 26% 25% 25%
Net Profit 41 40 40 50 48 49 62 56 36 17 59 64
EPS in Rs 8.32 8.07 8.09 10.00 9.55 9.78 12.38 11.15 7.17 3.43 11.78 12.73

Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
0 0 0 0 967 1,011 1,087 1,332 1,706 1,644 1,494
0 0 0 0 838 852 909 1,097 1,423 1,357 1,252
Operating Profit -0 0 0 -0 129 159 178 236 283 287 242
OPM % 13% 16% 16% 18% 17% 17% 16%
Other Income 0 0 0 0 9 18 20 26 29 35 50
Interest 0 0 0 0 18 18 10 9 15 25 23
Depreciation 0 0 0 0 5 6 7 10 22 33 34
Profit before tax -0 0 0 -0 116 153 181 243 275 265 235
Tax % 0% 0% 33% 35% 35% 35% 35% 23%
Net Profit -0 0 0 -0 77 100 118 159 178 203 176
EPS in Rs -2.00 0.00 0.00 -2.00 15.62 20.24 23.69 31.90 35.70 40.42 35.11
Dividend Payout % 0% 0% 35% 35% 36% 33% 32% 35%
Compounded Sales Growth
10 Years:%
5 Years:11%
3 Years:15%
TTM:-13%
Compounded Profit Growth
10 Years:%
5 Years:21%
3 Years:20%
TTM:-18%
Stock Price CAGR
10 Years:%
5 Years:6%
3 Years:-9%
1 Year:23%
Return on Equity
10 Years:%
5 Years:36%
3 Years:33%
Last Year:30%

Balance Sheet

Figures in Rs. Crores

Mar 2009 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
0 0 0 0 10 10 10 10 10 10 10
Reserves -0 0 0 -0 177 239 344 457 577 751 762
Borrowings 0 0 0 0 215 195 178 248 283 376 311
0 0 0 34 162 205 206 313 273 309 287
Total Liabilities 0 0 0 34 565 649 738 1,029 1,142 1,447 1,370
0 0 0 34 89 107 118 260 270 280 268
CWIP 0 0 0 0 8 2 29 6 1 1 2
Investments 0 0 0 0 3 3 4 4 5 5 5
0 0 0 0 464 537 587 759 867 1,161 1,095
Total Assets 0 0 0 34 565 649 738 1,029 1,142 1,447 1,370

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
0 0 19 131 118 134 110 17 237
0 0 -19 1 -3 -10 -51 -22 17
0 0 0 20 -79 -59 9 -29 5
Net Cash Flow 0 0 -0 152 36 65 68 -34 259

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 0% -22% 67% 40% 39% 40% 37% 29%
Debtor Days 43 38 37 37 32 42
Inventory Turnover 7.55 3.30 3.48 3.22 2.90 2.21

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
72.88 72.74 72.74 72.73 72.73 72.32 72.29 72.29 72.25 72.18 72.02 71.99
9.06 8.00 7.93 9.27 10.82 11.89 11.92 11.96 11.89 10.98 11.45 11.31
4.99 5.91 5.71 5.59 5.31 4.80 5.22 5.42 5.49 6.30 6.06 6.22
0.30 0.30 0.30 0.00 0.00 0.00 0.00 0.30 0.30 0.30 0.30 0.30
12.77 13.05 13.31 12.40 11.15 10.99 10.57 10.04 10.07 10.24 10.17 10.18

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