- 23 May 2022
- ICICI Securities
Gulf Oil Lubricants posts Q4FY22 numbers
GULFOILLUB - 399 Change: -3.20 (-0.80 %)News: Revenue increased 23.5% YoY to Rs. 638.9 crore in Q4FY22. EBITDA was Rs. 89.1 crore, up 14.1% YoY. Gross margin was Rs. 250.7 crore against Rs. 222.7 crore in Q4FY21. PAT was at Rs. 63.4 crore, up 6% YoY
Views: While we await sales volume data, revenue growth YoY was driven by higher realisation as well as volume as per our understanding. Maintaining balance between volume growth and margins will be important going ahead as raw material costs are likely to be at elevated level in near term
Impact: Neutral