Gulf Oil Lubricants India Ltd

Gulf Oil Lubricants India Ltd

Gulf Oil Lubricants was incorporated as Hinduja Infrastructure Limited' on July 17th 2008 as a wholly owned subsidiary of GOCL under the Companies Act 1956. The Company was incorporated with the objective of doing property/infrastructure development business. The name of our Company was changed to Gulf Oil Lubricants India Limited' on September 12 2013. The Company is engaged in the business of manufacturing marketing and trading of automotive and non-automotive lubricants.As per the Scheme the Lubricants Undertaking of Gulf Oil Corporation is demerged and transferred to and vested in Gulf Oil Lubricants India Limited on a going concern basis with effect from April 1 2014 (Appointed Date). The equity shares held by GOCL in GOLIL was cancelled as per the Scheme and our Company ceased to be a wholly owned subsidiary of GOCL. Pursuant to allotment of GOLIL shares to the shareholders of GOCL on June 12 2014 GOIMI became the Promoter of the Company.Gulf Oil Lubricants manufactures and trades in a range of lubricants and oils which are used by automobiles as well as by the industrial sector. We are a supplier to several automobile manufacturers in India and our products are approved by several OEM's. We have also diversified into automotive accessories such as automotive filters batteries as well as supplying lubricant handling and dispensing equipment to OEM's and private garages.The Company's manufacturing facility is located at Silvassa and is accredited with both ISO 9001:2008 and ISO 14001:2004 certification. This manufacturing facility employs process logic control systems and ensures that products manufactured meet the necessary levels of quality and consistency. The Hon'ble High Court of Andhra Pradesh vide its order dated April 16 2014 has approved the Scheme of Arrangement between Gulf Oil Corporation Ltd (Transferor Company/Demerged Company/GOCL) and Gulf Oil Lubricants India Ltd (Transferee Company / Resulting Company / GOLIL/Company) and their respective shareholders and creditors. The Scheme provided for demerger and transfer of the Lubricants Undertaking of Gulf Oil Corporation Ltd to Gulf Oil Lubricants India Ltd w.e.f. April 1 2014 (the appointed date under the Scheme) pursuant to Section 391 to 394 read with Sections 78 100 to 104 of the Companies Act 1956. Upon filing the Order of the High Court with the Registrar of Companies at Hyderabad the Scheme became effective on May 312014. Pursuant of Scheme of Arrangement shareholders of GOCL have been allotted 1 fully paid equity share of face value Rs 2/- each in Gulf Oil Lubricants India Ltd for every 2 equity shares held in GOCL and simultaneous effect was given to capital reduction / reorganization in GOCL by allotting 1 new GOCL fully paid equity share of face value Rs 2/- each for every such two old GOCL shares. These GOCL and GOLIL shares have been issued and allotted on June 12 2014 to the eligible shareholders of GOCL whose names appeared on the Register of Members as on the Record Date i.e. June 5 2014. New share certificates of GOLIL have been dispatched to all the Shareholders on June 18 2014 and dematerialsed shares have been credited to the demat accounts of the shareholders by Central Depository Services India Ltd on June 20 2014 and National Securities Depository Ltd on June 21 2014. The Company has been admitted for listing and trading on BSE Ltd (BSE) and National Stock Exchange India Ltd (NSE) with effect from July 31 2014.Subsequent to the year-end the approval of the shareholders was obtained on May 13 2015 through Postal Ballot process for shifting of Registered Office of the Company from Hyderabad State of Telangana to Mumbai the State of Maharashtra. The approval of Regional Director was received on July 3 2015 approving the shifting of Registered Office of the Company to Mumbai State of Maharashtra. The new address of the Registered Office of the Company is 'IN Centre 49/50 M.I.D.C. 12th Road Andheri (East) Mumbai - 400 093 Maharashtra India.In 2015 Gulf Oil & Schwing Stetter entered into Tie-up to Market Co-Branded Lubricants for India. Gulf Oil Launches 'Ultrasynth X' For Mid-Sized Passenger Cars.During the year 2016 the company launched specialized lubricants - Gulf Pride Scooter Oil - for the fast growing scooter segment.During the year 2017 the Company started the construction of its second plant at Ennore (Chennai). The Company launched two new products in the PCMO category during the year 2019 namely Multi G for CNG cars and Tata Motors Genuine Oil. It entered into an agreement with Tata Motors to launch a range of co-branded lubricants for the passenger vehicles section in the bazaar segment. In the commercial vehicle oils/DEO the Company launched three new products in this segment namely Superfleet Turbo+ Cargo Power Pro and Force Genuine Oil range. These products are receiving encouraging market response due to the differentiated customer value proposition offered by each one of them.In OEM Franchise Workshops Segment the Company acquired new OEMs namely Force Motors Tata Motors (Passenger Cars business unit) among others in FY19.During the year 2019 the infrastructure mining and fleet (IMF) business segment added two new OEMs (L&T Construction Equipment and Putzmeister Concrete Machines) even as it continued to witness healthy momentum with existing OEMs.