ICICI Direct's research report on Gulf Oil Lubricants
Gulf Oil Lubricants is one of the leading private companies in the domestic lubricants business. The company reported volume growth at ~10% CAGR in FY17-22 • Total capacity of the company is 140 million litre.
We maintain our HOLD rating on the stock. We value Gulf Oil Lubricants at Rs 440/ share i.e. 6.6x FY24E EPS.
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