Last Updated : Dec 18, 2018 02:49 PM IST | Source:

Buy Gulf Oil Lubricant; target of Rs 987: Dolat Capital

Dolat Capital is bullish on Gulf Oil Lubricant has recommended buy rating on the stock with a target price of Rs 987 in its research report dated December 18, 2018.

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Dolat Capital's research report on Gulf Oil Lubricant

We hosted the GOLIL management team – Mr Ravi Chawla (MD) and Mr Manish Gangwal (CFO) in Mumbai for investor interaction. Our interaction has reinforced our belief in the management team. According to the management, lubricant business will continue to be driven by distribution, and brand more than the product. KTAs are appended.


The company’s business model continues to be right on all key drivers. We believe that EV threat is overblown and is already reflected on valuations. Valuations will recover in the long term, as profitability grows. We retain our rating to BUY with a target of ` 987 (22x FY20E earnings).

For all recommendations report, click here

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First Published on Dec 18, 2018 02:49 pm
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