Final Dividend of 1000%: 5 Sep - Record Date; SL At Rs 1120, Target Rs 1600-1660, Buy Range?

Gulf Oil Lubricants India Ltd is a small-cap company in the energy sector. The stock ended 1.15% higher today at BSE at Rs 1349.60 apiece with a market cap of Rs 6,639.48 Cr. The company has fixed record date for its upcoming dividend of 1000%. Gulf Oil Lubricants India Limited (GOLIL), a prominent participant in the Indian lubricant industry with a broad product range including industrial and automotive lubricants, is a division of Gulf Oil International and the Hinduja Group. GOLIL markets to more than 25 countries and has a vast B2C distribution network throughout all of India. It also has partnerships with over 40 OEMs and over 1000 industrial, institutional, and infrastructure clients for B2B sales.

Gulf Oil Lubricants India Dividend

The Board of Directors of the company have recommended a final dividend of Rs. 20/- per equity share of face value of Rs. 2/- each (1000%) for the financial year ended March 31, 2024. To determine a member's eligibility for the final dividend payment, the record date is Thursday, September 5, 2024.

"The final dividend on equity shares for the financial year ended March 31, 2024, as recommended by the Board of Directors on May 21, 2024 and if approved and declared at the ensuing 16th AGM, will be paid by the Company in permitted modes on or after Tuesday, September 17, 2024 within statutory timelines subject to deduction of tax at source as applicable to those shareholders or their mandates: i) Whose name appears as Beneficial Owners as at the end of the business hours on Thursday, September 5, 2024, in the list of Beneficial Owners to be furnished by National Securities Depository Limited and Central Depository Services (India) Limited in respect of the shares held in dematerialised form; and ii) Whose names appear as Members in the Register of Members of the Company as at the end of the business hours on Thursday, September 5, 2024 after giving effect to valid request(s) received for transmission/transposition of shares and lodged with the Company/its Registrar & Transfer Agent on or before Thursday, September 5, 2024," said Gulf Oil Lubricants India in a stock exchange filing.

Gulf Oil Lubricants India Q1 Results

In Q1 FY25, the company's total net profit jumped by 28.89% to Rs 88.02 crore from Rs 68.29 crore in the same period the previous year. Revenue from operations for the quarter was Rs 885.07 crore, up 9.04% YoY. Profit before tax (PBT) jumped from Rs 91.77 crore in Q1 FY24 to Rs 118.20 crore in Q1 FY25, a 28.8% growth. In comparison to the similar quarter previous year, when EBITDA was recorded at Rs 92.78 crore, it increased by 25.28% to Rs 116.24 crore during the quarter under review. Compared to Q1 FY24, when the EBITDA margin was 11.43%, it increased by 170 basis points to 13.13% during the quarter ended 30th June 2024.

Gulf Oil Lubricants India Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "The current trading price of GULFOILLUB is Rs 1394. The stock has formed higher high higher low pattern on the daily chart, accompanied by a significant increase in trading volume. Indicating bullish trend. If the price manages to close above the Rs 1394 level, it could have the potential to reach short-term targets of Rs 1600 and Rs 1660. On the downside, immediate support levels are located at Rs 1200, which can be considered as opportunities to buy on dips."

"The Relative Strength Index (RSI) is currently at 68 and is trending upward, indicating increasing buying momentum. To prudently manage risk, it is advisable to set a stop-loss (SL) at Rs 1120. This will help protect your investment in case of an unexpected market reversal. In summary, based on technical analysis and current market conditions, GULFOILLUB appears to present an appealing buying opportunity for those targeting a price of Rs 1600 and Rs 1660 provided that appropriate risk management measures are in place," the analyst further recommended.

Disclaimer

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