Gulf Oil Lubricants India Limited (GOLIL), a Hinduja Group Company net revenue for Q1 FY 2020-21 is down by 45% to reach Rs. 241.17 crore. 

 

As the quarter progressed and lockdown restrictions were partially lifted and unlocking mode started across various parts of the country, the company could very quickly ramp up its supply capabilities, get back the rhythm of its production and supply chain to a large extent. Fast actions on creating supply related efficiencies and demand sensing initiatives enabled us to increase sales related to the agri segment, rural as anticipated and then the retail (bazaar), industrial and other OEM segments responded well and we saw good results in these strong areas for us from Mid-May onwards. 

 

In June, as the economic and industrial activities started picking up significantly and personal and commercial mobility levels improved, the company volumes also saw quick recovery and the gap from average pre-Covid volumes started closing rapidly, also aided by some pent up demand. Lubricants being a semi-essential product, the rebound has been relatively faster than many discretionary items. The stronger position of the Gulf in various segments also helped us respond better in this improving scenario, particularly in June to reach near pre-covid levels.

 

"We have utilised this period also to build stronger connections with customers, our trade partners, B2B customers and OEMs and their dealerships to engage with them and align meeting their needs. I am happy to share that we have also focussed to tap new businesses and build a strong 'pipeline' for the future. I am optimistic about our businesses regaining sooner than earlier expected as the start of the quarter, as the business is clearly gaining momentum back and we are seeing the pick-up in demand from June onwards and we are ready for a strong return,” said Ravi Chawla, Managing Director & CEO, Gulf Oil Lubricants India Ltd.

 

In another recent development, Gulf Oil International that provides us brand and technical support, announced a multi-year strategic partnership with Mclaren which will see Gulf, one of the most iconic brands in the world, partner with world-famous race team McLaren Racing for the Formula 1 races and l with luxury supercar company McLaren Automotive for other product related initiatives going forward.

 

This partnership reunites two renowned brands that have a long-standing and successful history together and symbolises a united ambition to use both brands' innovation and class-leading capabilities to refine a winning formula, both on the track and on the road. Gulf will become the preferred lubricant supplier to McLaren Automotive, with all cars to be filled with Gulf Oil and fuel optimised for high performance engines.

 

“We are thrilled to leverage this partnership between Gulf Oil International & McLaren that will help us deliver a unique value proposition to our Passenger Car Segment in India. Working with McLaren will help us to enhance our brand values, imagery & market position as a leading lubricant player. With this strategic multi-year partnership, we will create enthralling experiences for our consumers and racing enthusiasts,” added Ravi Chawla, Managing Director & CEO, Gulf Oil Lubricants India.