GULF OIL LUBRICANTS INDIA LTD (GULFOILLUB): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹1,095.4 latest close · +6.6% over the last 90 sessions

₹1,095.4 month-end · −4.7% over 12 months

₹1,095.4 month-end · +65.2% over 3 years

₹1,095.4 month-end · +186.2% since Jun '22

52-week range ₹841.70 to ₹1254.60 · 1-year volatility 30.0%

Was the rally earned?

1 year3 years

-5%share price, 1 yearRoughly flat

The share price was roughly flat over 1 year (-5%).
The share count barely moved.

Net profit growth+2 ptsNet profit rose about 2%, which lifts the price.

P/E change-6 ptsThe P/E fell from 15.3x to 14.4x, which lowers the price.

Share count change-1 ptsShare count was little changed. More shares would count against the price.

+65%share price, 3 yearsEarnings-driven

Mostly yes.

Per-share earnings added 61 points to the rise, while the multiple moved less (P/E 14.0x to 14.4x).
The share count barely moved.

Net profit growth+63 ptsNet profit rose about 62%, which lifts the price.

P/E change+4 ptsThe P/E rose from 14.0x to 14.4x, which lifts the price.

Share count change-2 ptsShare count was little changed. More shares would count against the price.

What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Not shown for 5 years: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with RELIANCE INDUSTRIES

How rough has the ride been?

Maximum drawdown-57.6%recovered 2024-02

1-year volatility30.0%annualised

Beta vs sector index0.703-year daily, correlation 0.36

Volume spikes2last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-57.6% (2019-01 peak to 2022-06 low, recovered 2024-02)

-39.8% (2024-09 peak to 2026-03 low, not yet recovered)

-20.1% (2024-04 peak to 2024-06 low, recovered 2024-06)

Most recent volume spikes

2026-10-14: 5.3x the 50-day median, price +1.4% that day

2026-08-04: 12.5x the 50-day median, price +4.1% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

14.4xP/E todayWithin its usual range

Against its own history50th percentile

CheapestMedian 14.5xDearest

Usual range 9.5x to 18.7x since 2022-06.

Against Energy Minerals14.4x vs 12.7x

This company

14.4x

Sector median

12.7x

14% above the Energy Minerals median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianEnergy Minerals median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianEnergy Minerals median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianEnergy Minerals median

How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Energy Minerals is valued

Where does it rank among Energy Minerals peers?

Each cell is the company's percentile rank among its Energy Minerals peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE90th▲ 4 pts vs a year ago
Op. margin52ndflat vs a year ago
Revenue growth58th▼ 17 pts vs a year ago
EPS growth48th▼ 22 pts vs a year ago
Debt/equity ↓46th▼ 8 pts vs a year ago
Cash cycle ↓65th▲ 17 pts vs a year ago
P/E ↓48th▼ 4 pts vs a year ago
12M momentum58th▼ 9 pts vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Energy Minerals sector page Watch it move against Energy Minerals in the Observatory

What is the price implying?

~11%annual earnings growth implied by the price

At a P/E of 18.4x, the price would imply about 10.5%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Fewer than six years of annual earnings are available, which is too little to measure delivered growth.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Energy Minerals The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹1095.40
P/E: 14.4x
ROCE: 26.0%
Market Cap: ₹5428 cr
Revenue (TTM): ₹4367 cr
P/S: 1.2x
P/B: 3.5x
ROE: 24.5%
Operating Margin: 12.0%
Debt / Equity: 0.4x
Promoter Holding: 66.8%
12M Momentum: -4.7%

52-week range

₹841.70₹1254.60

61% of the way from its 52-week low to its high

Price risk

1Y volatility

30.0%

Beta vs sector

1-year daily

0.45

Balance sheet & cash

Interest cover

operating profit ÷ interest

9.6x

Cash from profit, 3Y

operating cash flow ÷ net profit

1.08x

Share count, 1Y

unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold

Other income reliance16%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 16.0%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 26.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.08xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.08x (cash from operations ₹1,086 cr, net profit ₹1,010 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-2 daysWithin range

Debtor days are below the median of the previous three fiscal years by 2 days (48 vs 50). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress8% of fixed assetsWithin range

Capital work-in-progress is 8% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+9 days / 2 yrsWithin range

Days payable changed by +9 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 2 years, promoters trimmed 5.1 pts; DIIs added 4.7 pts; FIIs added 2.8 pts.
The number of shareholders rose from 60,822 to 72,647 (+19%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change

Promoters71.9%66.8%-5.1 pts

FIIs5.0%7.8%+2.8 pts

DIIs4.0%8.7%+4.7 pts

Public and others18.8%16.3%-2.5 pts

Number of shareholders

72,647shareholders+19% since Dec '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−4.7%typical 12-month return vs the marketNot meaningfully different from the base rate

We found 50 past situations where a non-financial company looked like GULF OIL LUBRICANTS INDIA LTD today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −27% to +30% vs the market, against −3% for all non-financial companies in the same months.
The gap against the base rate (−1.3%, 80% range −17.0% to +6.8%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 1 beyond the range shown, drawn at the edge

Similar setups' median

−4.7%

All companies' median

−3.4%

Beat the market

46% vs 46%

50 past situations · 50 companies · 39 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
JKLAKSHMI Non-Energy Minerals	Jun 2021	17x	20%	+128%	−1%	−27%
KNRCON Industrial Services	Oct 2023	16x	21%	+19%	−7%	−19%
PSPPROJECT Industrial Services	Oct 2023	21x	25%	+28%	−8%	−43%
GRANULES Health Technology	May 2024	20x	19%	+48%	−11%	+21%
GNA Producer Manufacturing	Aug 2023	17x	21%	+48%	−2%	−43%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
ORIENTCEM Non-Energy Minerals	Jan 2022	16x	19%	+99%	−8%	−26%
SIS Commercial Services	Apr 2022	20x	30%	+40%	−8%	−23%
CEATLTD Consumer Durables	Feb 2025	18x	20%	−11%	−26%	+18%

How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and P/S. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to GULF OIL LUBRICANTS INDIA LTD. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

TRANSPORT CORPORATION OF INDIATCI

Transportation

75%similar

P/Evolatility

POWER MECH PROJECTSPOWERMECH

Industrial Services

66%similar

ROCEmarket cap

REDTAPEREDTAPE

Retail Trade

64%similar

market capROCE

SHARDA MOTOR INDUSTRIESSHARDAMOTR

Producer Manufacturing

62%similar

market capEPS growth

JINDAL STAINLESSJSL

Non-Energy Minerals

61%similar

operating margindebt/equity

OIL AND NATURAL GAS CORPORATIOONGC

Energy Minerals

39%similar

debt/equityvolatility

REFEX INDUSTRIESREFEX

Energy Minerals

37%similar

operating marginP/E

COAL INDIACOALINDIA

Energy Minerals

34%similar

ROCEvolatility

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Nov '22

2026
OctPriceVolume reached 5.3x its 50-day median on 2026-10-14; price +1.4% that day.
SepResultsYear-on-year EPS growth turned positive.
SepPeer rankMoved into the 3rd quartile of Energy Minerals on EPS growth (from the bottom quartile).
AugPriceVolume reached 12.5x its 50-day median on 2026-08-04; price +4.1% that day.
JunPeer rankMoved into the 2nd quartile of Energy Minerals on operating margin (from the 3rd quartile).
MayPriceVolume reached 8.7x its 50-day median on 2026-05-29; price +4.6% that day.
MarResultsYear-on-year EPS growth turned negative.
MarPriceFell 40% from the Sep 2024 peak to the Mar 2026 low.

Show 22 earlier events

2026
MarPeer rankSlipped to the 3rd quartile of Energy Minerals on operating margin (from the 2nd quartile).
MarPriceVolume reached 5.9x its 50-day median on 2026-03-17; price -0.8% that day.
2025
SepPeer rankSlipped to the 2nd quartile of Energy Minerals on EPS growth (from the top quartile).
JunPeer rankMoved into the top quartile of Energy Minerals on ROCE (from the 2nd quartile).
MarInstitutionsFII + DII holding rose 5.4 pts over 2 quarters to 16.9%.
FebPriceVolume reached 6.7x its 50-day median on 2025-02-07; price +8.2% that day.
2024
DecPromoterPromoter holding fell 4.5 pts to 67.2%.
DecPeer rankSlipped to the 2nd quartile of Energy Minerals on ROCE (from the top quartile).
SepPeer rankMoved into the top quartile of Energy Minerals on EPS growth (from the 2nd quartile).
AugValuationP/E crossed above the 90th percentile of its own history to date (21.5x).
JulPriceVolume reached 10.3x its 50-day median on 2024-07-01; price +2.7% that day.
JunResultsRevenue (TTM) reached a new high of ₹3,301 cr.
JunInstitutionsFII + DII holding rose 3.1 pts over 1 quarter to 12.1%.
JunPeer rankMoved into the top quartile of Energy Minerals on ROCE (from the 2nd quartile).
JunPriceVolume reached 16.7x its 50-day median on 2024-06-26; price +1.3% that day.
FebPriceRegained the 2019-01 peak, 20 months after the low.
2023
NovPriceVolume reached 17.1x its 50-day median on 2023-11-28; price +7.9% that day.
AugPriceVolume reached 37.4x its 50-day median on 2023-08-04; price +5.8% that day.
JunResultsRevenue (TTM) reached a new high of ₹2,999 cr.
MayPriceVolume reached 14.7x its 50-day median on 2023-05-19; price +4.4% that day.
FebPriceVolume reached 14.7x its 50-day median on 2023-02-20; price +1.2% that day.
2022
NovPriceVolume reached 9.3x its 50-day median on 2022-11-30; price +1.7% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history54 months · 2022-06 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	14.4x	₹4367 cr	24.5%	26.0%	0.4x
2026-10	13.6x	₹4367 cr	24.2%	26.0%	0.4x
2026-09	14.8x	₹4367 cr	24.2%	26.0%	0.4x
2026-08	15.5x	₹4056 cr	22.5%	26.0%	0.4x
2026-07	14.8x	₹4056 cr	22.5%	26.0%	0.4x
2026-06	14.7x	₹4056 cr	22.5%	26.0%	0.4x
2026-05	13.3x	₹3954 cr	23.8%	27.0%	0.3x
2026-04	13.5x	₹3954 cr	23.8%	27.0%	0.3x
2026-03	12.2x	₹3954 cr	23.8%	27.0%	0.3x
2026-02	14.3x	₹3856 cr	25.2%	27.0%	0.3x
2026-01	14.1x	₹3856 cr	25.2%	27.0%	0.3x
2025-12	15.5x	₹3856 cr	25.2%	27.0%	0.3x
2025-11	15.3x	₹3753 cr	25.2%	27.0%	0.3x
2025-10	16.0x	₹3753 cr	25.2%	27.0%	0.3x
2025-09	15.7x	₹3753 cr	25.2%	27.0%	0.3x
2025-08	16.3x	₹3631 cr	24.4%	27.0%	0.3x
2025-07	15.8x	₹3631 cr	24.4%	27.0%	0.3x
2025-06	16.5x	₹3631 cr	24.4%	27.0%	0.3x
2025-05	15.7x	₹3548 cr	27.1%	26.0%	0.3x
2025-04	15.8x	₹3548 cr	27.1%	26.0%	0.3x
2025-03	15.2x	₹3548 cr	27.1%	26.0%	0.3x
2025-02	15.3x	₹3446 cr	25.7%	26.0%	0.3x
2025-01	14.2x	₹3446 cr	25.7%	26.0%	0.3x
2024-12	16.9x	₹3446 cr	25.7%	26.0%	0.3x
2024-11	15.9x	₹3384 cr	25.0%	26.0%	0.3x
2024-10	17.0x	₹3384 cr	25.0%	26.0%	0.3x
2024-09	19.9x	₹3384 cr	25.0%	26.0%	0.3x
2024-08	21.5x	₹3301 cr	23.8%	26.0%	0.3x
2024-07	18.3x	₹3301 cr	23.8%	26.0%	0.3x
2024-06	18.5x	₹3301 cr	23.8%	26.0%	0.3x
2024-05	18.8x	₹2999 cr	19.7%	23.0%	0.3x
2024-04	20.7x	₹2999 cr	19.7%	23.0%	0.3x
2024-03	18.8x	₹2999 cr	19.7%	23.0%	0.3x
2024-02	20.1x	₹2999 cr	19.7%	23.0%	0.3x
2024-01	16.0x	₹2999 cr	19.7%	23.0%	0.3x
2023-12	14.4x	₹2999 cr	19.7%	23.0%	0.3x
2023-11	14.0x	₹2999 cr	19.7%	23.0%	0.3x
2023-10	12.5x	₹2999 cr	19.7%	23.0%	0.3x
2023-09	10.7x	₹2999 cr	19.7%	23.0%	0.3x
2023-08	11.6x	₹2999 cr	19.7%	23.0%	0.3x
2023-07	10.6x	₹2999 cr	19.7%	23.0%	0.3x
2023-06	9.3x	₹2999 cr	19.7%	23.0%	0.3x
2023-05	10.4x	₹2192 cr	20.2%	—	0.4x
2023-04	9.3x	₹2192 cr	20.2%	—	0.4x
2023-03	9.2x	₹2192 cr	20.2%	—	0.4x
2023-02	9.4x	₹2192 cr	20.2%	—	0.4x
2023-01	9.9x	₹2192 cr	20.2%	—	0.4x
2022-12	9.6x	₹2192 cr	20.2%	—	0.4x
2022-11	10.3x	₹2192 cr	20.2%	—	0.4x
2022-10	9.4x	₹2192 cr	20.2%	—	0.4x
2022-09	9.8x	₹2192 cr	20.2%	—	0.4x
2022-08	11.0x	₹2192 cr	20.2%	—	0.4x
2022-07	9.5x	₹2192 cr	20.2%	—	0.4x
2022-06	9.1x	₹2192 cr	20.2%	—	0.4x

Methodology and data notes