Gulf Oil Corporation Ltd., a Hinduja Group Company, has reported a turnover of Rs. 1097 crores for the year ( Rs. 1081 crores ) and Net Profit of Rs. 58.34 crores an increase of 10% over previous year. Turnover for Q4 was Rs. 312 crores ( Rs. 303 crores ) and net profit of Rs. 18.35 crores.
The Company has in the month of April 2014 paid an Interim Dividend of Rs.2.50 per share, i.e., 125% (110% + special dividend of 15%), a payout of 50%. The Board has recommended that the Interim Dividend be treated as the Final Dividend for the financial year 2013-14.
Division wise performance and highlights are as under:
LUBRICANTS BUSINESS
Demand conditions for lubricants continued to be subdued in Q4 impacted by lower goods movement, slowdown in mining, infrastructure segments and poor industrial growth factors. Despite these challenges, the Division grew its revenues in the 4th quarter of FY 2013-14. The net sales turnover increased to Rs. 255 crores as compared to Rs. 235 in the corresponding period last year, achieving a positive growth of 8% QoQ basis.
Operational Profit before Interest and Tax for the quarter has also gone up by 8.4% to Rs. 28.63 crores compared to Rs. 26.41 crores in the corresponding quarter of the previous year mainly on account of improvement in the product mix and sales realisations by the Division. Special promotional initiatives to gain market share in the diesel engine segment with trade retailer meets and retailer promotions were executed across key markets. For the year as well, the division has been able to maintain its Operational Profit before Interest and Tax clocking Rs. 105.46 crores compared to Rs. 105.68 crores in the previous year, inspite of the prevailing economic environment, negative growths in the commercial vehicle segment and slowdown in car / 2 wheeler segments.
The Lubricant Division has overall grown market shares with positive volume growth in the motorcycle segment & acquisition of new B2B customers across direct industries, infrastructure, mining segments from competition. Increase in distribution reach was achieved during the year with focused expansion initiatives. Season 2 of Leader Talk – a Gulf Oil sponsored program on CNN-IBN was telecast and the association with MTV Roadies continued in Q4 to ensure visibility and strengthen the brand across target audiences.
The Company has in the month of April 2014 paid an Interim Dividend of Rs.2.50 per share, i.e., 125% (110% + special dividend of 15%), a payout of 50%. The Board has recommended that the Interim Dividend be treated as the Final Dividend for the financial year 2013-14.
Division wise performance and highlights are as under:
LUBRICANTS BUSINESS
Demand conditions for lubricants continued to be subdued in Q4 impacted by lower goods movement, slowdown in mining, infrastructure segments and poor industrial growth factors. Despite these challenges, the Division grew its revenues in the 4th quarter of FY 2013-14. The net sales turnover increased to Rs. 255 crores as compared to Rs. 235 in the corresponding period last year, achieving a positive growth of 8% QoQ basis.
Operational Profit before Interest and Tax for the quarter has also gone up by 8.4% to Rs. 28.63 crores compared to Rs. 26.41 crores in the corresponding quarter of the previous year mainly on account of improvement in the product mix and sales realisations by the Division. Special promotional initiatives to gain market share in the diesel engine segment with trade retailer meets and retailer promotions were executed across key markets. For the year as well, the division has been able to maintain its Operational Profit before Interest and Tax clocking Rs. 105.46 crores compared to Rs. 105.68 crores in the previous year, inspite of the prevailing economic environment, negative growths in the commercial vehicle segment and slowdown in car / 2 wheeler segments.
The Lubricant Division has overall grown market shares with positive volume growth in the motorcycle segment & acquisition of new B2B customers across direct industries, infrastructure, mining segments from competition. Increase in distribution reach was achieved during the year with focused expansion initiatives. Season 2 of Leader Talk – a Gulf Oil sponsored program on CNN-IBN was telecast and the association with MTV Roadies continued in Q4 to ensure visibility and strengthen the brand across target audiences.
