Revenue from operations grew by 7.67% year on year to Rs 852.82 crore during the quarter.

Profit before tax (PBT) was at Rs 114.2 in the March quarter, up 35.92% from Rs 84.02 crore recorded in Q4 FY23.

EBITDA surged 31.42% YoY to Rs 115.04 crore in Q4 FY24 as against Rs 87.54 crore recorded in Q4 FY23. EBITDA margin improved to 13.49% in Q4 FY24 as compared to 11.05% registered in the same period a year ago.

The company said that it sustained its EBITDA margins sequentially at 13.49% tracking towards the higher end of the guided band of 12-14% by prudent margin management efforts and increased focus on premium range of products.

On full year basis, the company reported 32.63% rise in net profit to Rs 308.1 crore on 9.5% increase in revenue to Rs 3,284.1 crore in the FY24 over FY23.

The Hinduja Group company stated that it maintained the growth momentum for the year with volume growth rate 2x of industry, led by double-digit growth in infra, mining, and B2B segments. Growth was strong across all segments, except for OEM factory fill during the quarter.

B2C sales got a boost by targeted sales and marketing efforts and leveraging distribution network, leading to good growth in CVO and MCO and positive traction in the Agri sector which saw improved demand from the rural segment. While OEM franchise workshops business maintained good momentum, challenges persisted in factory fill, resulting in lower offtake, it added.

Commenting on the performance, Ravi Chawla, managing director & CEO of Gulf Oil Lubricants India said, "We have had an excellent quarter, maintaining our growth momentum. In the financial year, we have gained market share in B2B and B2C, expanded our distribution, and launched new products across segments which have been innovative and value driven. We are continuously growing by capitalizing on robust distribution and brand initiatives as our strong pillars of growth. Our key focus remains on strategic, sustainable, and profitable growth across our portfolio over long term in line with our segment-wise focus and brand strategies.

With a positive outlook, we believe that the company will continue to deliver industry leading performance driven by our sustained focus on increasing market share, growing distribution, brand activations, enhancing our focus on premiumisation and leveraging our strengths to growing our business in e-mobility with the strategic acquisitions made.”

Manish Gangwal, CFO of Gulf Oil Lubricants India, stated, “Amidst some variation in input cost towards the end of FY24, we showcased our prudent margin management efforts and focused on a better product mix translating to quarterly EBITDA of Rs 115.04 crore, sustaining at 13.49% EBITDA to revenue. Going forward, our strategic focus remains clear. We are committed to outperform the industry with 2-3x of volume and value growth, effective margin management, enhancing profitability and maximizing return to shareholders.”

Meanwhile, the company's board has recommended a final dividend of Rs 20 per equity share for the financial year ended 31 March 2024. The record date for the payment of the final dividend shall be intimated later.

Gulf Oil Lubricants India, part of Hinduja Group and Gulf Oil International, is one of the leading players in the lubricant market in India and has a top 2/3 position in key segments amongst the private sector brands. The company has a wide range of world class-leading products in the automotive and industrial lubricants space catering to B2B and B2C segments with a growing distribution network. The company also has a growing share in the 2-wheeler batteries segment.