Gulf Oil Lubricants: Management Group

Gulf Oil Lubricants India Ltd. is into the business of lubricants and oils. The company's business operates under three main segments - automotive, industrial & exports. Gulf Oil International holds 72.29% stake in Gulf Oil’s total share capital, owning the distinguished Gulf brand globally (except the
US, Spain and Portugal) and is present in 100+ countries worldwide. The Hinduja group acquired Gulf Oil International Ltd, in 1984, & thus entered the oil & gas space.

The leading player of the lubricants & oils industry is Castrol i.e. the top competitor.

Business Segments

(i) Automotive Segment

Gulf Oil Lubricants distributes via two primary channels: 1) Bazaar, which includes spare parts stores, exclusive lubricant stores and independent workshops/garages 2) Secondly, OEM Franchise Workshops.

  • Personal Mobility (MCOs and PCMOs): The segment caters to bikes and cars. PCMO contribution to volume mix is ~24%.
  • Commercial vehicle oils/DEO: As per company, Gulf holds 8-9% market share in this segment. DEO contribution to the mix is ~34%.
  • Non-engine oil: include greases, coolants, brake fluid & other products.

(ii) Industrial Segment

As per company, Gulf holds 3-4% market share in Industrial lubricants segment. Contribution to volumes mix is around 23%.

(iii) Infrastructure Segment

This segment caters to the unique requirements of clients across the sectors of infrastructure, mining & fleets.

(iv) Exports Segment

The key countries that the Company caters to include Nepal, Bangladesh, Indonesia, Qatar, Africa, among others. Volume share of the segment is 3-4%.

(v) Batteries

Gulf entered two wheeler batteries business in 2013. Most recently, Gulf Oil is planning to set up a greenfield plant (capex of Rs 800mn) to manufacture batteries locally.

Hinduja Group

Mr. Parmanand Deepchandh Hinduja is the founder of Hinduja Group. The group was set up in 1920 & now is a conglomerate with companies including Ashok Leyland, Hinduja Foundries Ltd, Hinduja Bank (Switzerland) Ltd, IndusInd Bank, Hinduja Housing Finance, Hinduja Leyland Finance Ltd, Hinduja Global Solutions Ltd, Gulf Oil International Ltd, Gulf Oil Lubricants India Limited, Hinduja National Power Corporation Ltd, IndusInd Media and Communications Ltd. among others.

Srichand P. Hinduja, the eldest son of founder P. D. Hinduja is now the chairman of Hinduja Group.

Family Structure

detailed family structure of Hinduja group of Gulf Oil, Indusind Bank, Ashok Leyland

Executive Management of Gulf Oil Lubricants

(i) Mr. Sanjay G. Hinduja - Chairman

He is the son of Mr. Gopichand P Hinduja (Co-chairman - Hinduja Group, Chairman - Hinduja Automotive Limited, UK) and Ms. Sunita Hinduja. Mr. Sanjay G. Hinduja holds a Bachelor’s Degree in Business Administration from Richmond College, London. Before joining the family business, Mr. Sanjay worked with Credit Suisse, First Boston and Chase Manhattan Bank. His current age is 56 years. He does not hold shareholding in Gulf Oil Lubricants. His remuneration for FY19 includes Fees for attending Board Committee meetings Rs. 9,25,000 & Commission Rs. 87,50,000, 0.06% of the company revenue.

(ii) Mr. Ravi Chawla - Managing Director

He has been Managing Director of Gulf Oil Lubricants from June 2014. He has over 28 years of professional experience in sales, marketing & management across diverse sectors in Indian companies and MNCs with organisations like Wipro Consumer Products Ltd., CEAT Ltd, Polaroid, Pennzoil-Quaker State India Ltd. (was part of Royal Dutch Shell Group of Companies) & Mahindra and Mahindra (Farm Equipment Division) before joining Gulf Oil Corporation Ltd in 2007. His age is 53 years. His remuneration for FY19 is Rs. 4.75 crore, 0.28% of company revenue.

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Disclaimer: The report only represents personal opinions and views of the author. No part of the report should be considered as recommendation for buying/selling any stock. The report & references mentioned are only for the information of the readers about the industry/company stated.

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