Key Quantitative Figures (Consolidated)

Income Statement (Q2 FY26 vs Q2 FY25)

  • Revenue from Operations: ₹1,40,865.69 lakhs (vs ₹96,677.39 lakhs in Q2 FY25)
  • Other Income: ₹2,727.86 lakhs (vs ₹2,549.98 lakhs)
  • Total Income: ₹1,43,593.55 lakhs (vs ₹99,227.37 lakhs)
  • Profit Before Tax: ₹15,390.70 lakhs (vs ₹11,322.21 lakhs)
  • Net Profit for the period: ₹11,452.00 lakhs (vs ₹8,395.12 lakhs)
  • Total Comprehensive Income: ₹11,671.05 lakhs (vs ₹8,388.53 lakhs)

Income Statement (H1 FY26 vs H1 FY25)

  • Revenue from Operations: ₹2,73,586.93 lakhs (vs ₹1,98,322.54 lakhs)
  • Other Income: ₹5,415.92 lakhs (vs ₹4,804.94 lakhs)
  • Total Income: ₹2,79,002.85 lakhs (vs ₹2,03,127.48 lakhs)
  • Profit Before Tax: ₹31,859.78 lakhs (vs ₹24,100.41 lakhs)
  • Net Profit for the period: ₹23,535.83 lakhs (vs ₹17,912.61 lakhs)
  • Total Comprehensive Income: ₹23,762.31 lakhs (vs ₹17,865.11 lakhs)

Earnings Per Share (Consolidated, Face Value ₹2)

For Q2 FY26:

  • Basic EPS (Before & After Exceptional Item): ₹23.30
  • Diluted EPS (Before & After Exceptional Item): ₹23.06

For H1 FY26:

  • Basic EPS (Before & After Exceptional Item): ₹48.18
  • Diluted EPS (Before & After Exceptional Item): ₹47.77

Key Quantitative Figures (Standalone)

Income Statement (Q2 FY26 vs Q2 FY25)

  • Revenue from Operations: ₹1,37,942.66 lakhs (vs ₹95,678.17 lakhs)
  • Net Profit for the period: ₹11,719.36 lakhs (vs ₹8,713.43 lakhs)

Income Statement (H1 FY26 vs H1 FY25)

  • Revenue from Operations: ₹2,69,978.65 lakhs (vs ₹1,95,314.45 lakhs)
  • Net Profit for the period: ₹24,471.81 lakhs (vs ₹18,379.36 lakhs)

Earnings Per Share (Standalone, Face Value ₹2)

For Q2 FY26:

  • Basic EPS: ₹23.65
  • Diluted EPS: ₹23.41

For H1 FY26:

  • Basic EPS: ₹49.41
  • Diluted EPS: ₹49.00

Subsidiary and Associate Performance (Consolidated)

The results include one subsidiary, Tirex Transmission Private Limited, and one associate, Techperspect Software Private Limited.

  • Tirex Transmission (Subsidiary) for H1 FY26: Total Net Loss after tax of ₹607.40 lakhs; Net Cash Outflow of ₹67.30 lakhs.
  • Techperspect Software (Associate) for H1 FY26: Group's share of net loss of ₹8.83 lakhs.

Capital Structure Impact

  • The Company allotted 38,751 equity shares in Q2 and 155,452 shares in H1 FY26 pursuant to the exercise of employee stock options (ESOP Scheme-2015).
  • Paid-up Equity Share Capital (Consolidated): Increased to ₹991.11 lakhs as of September 30, 2026 (from ₹988.00 lakhs on March 31, 2026).
  • These newly allotted shares rank pari-passu with existing equity shares.

Balance Sheet Highlights (Consolidated as of 30.09.2026)

  • Total Assets: ₹3,69,669.02 lakhs (vs ₹3,01,496.71 lakhs on 31.03.2026)
  • Inventories: ₹86,412.01 lakhs (vs ₹59,466.48 lakhs)
  • Trade Receivables: ₹74,319.80 lakhs (vs ₹53,475.67 lakhs)
  • Cash and Cash Equivalents: ₹1,26,859.31 lakhs (vs ₹1,13,588.54 lakhs)
  • Total Equity: ₹1,68,290.79 lakhs (vs ₹1,58,363.52 lakhs)
  • Borrowings (Current): ₹74,750.61 lakhs (vs ₹48,985.58 lakhs)

Cash Flow Statement (Consolidated, H1 FY26)

  • Net Cash from Operating Activities: ₹3,566.98 lakhs
  • Net Cash from Investing Activities: ₹1,698.29 lakhs
  • Net Cash from Financing Activities: ₹8,005.50 lakhs
  • Net Increase in Cash: ₹13,270.77 lakhs

Subsequent Event

A fire incident occurred on October 27, 2026, at approximately 3:00 PM at an adjoining premises that extended to a third-party warehouse used by the Company in Valsad, Gujarat. The extent of damage is being assessed. The Company confirmed the stocks are insured and that its two manufacturing plants and other 24 warehouses across India remain fully operational.

Notes to Accounts

  • The Company operates in a single business segment: "Lubricants" (as per Ind AS-108).
  • An exceptional item of ₹2,278.21 lakhs was recorded in FY2026 related to the implementation of new labour codes.
  • The financial results were reviewed by the statutory auditors, M/s S R B C & Co. LLP.

Dates and Parties Involved

  • Board Meeting Date: October 28, 2026 (commenced at 12:00 PM, concluded at 3:47 PM IST).
  • Reporting Entity: Gulf Oil Lubricants India Limited (Scrip Code: 538567, NSE Symbol: GULFOILLUB).
  • Authorized Signatory: Manish Kumar Gangwal, Whole-Time Director & CFO.
  • Auditors: S R B C & Co. LLP, Chartered Accountants.