Source : PTI | Gulf Oil Lubricants India is steadily building a scalable EV ecosystem amid rising adoption of electric vehicles and demand for charging infrastructure in the domestic market.
This comes as EV penetration in the two-wheeler segment is nearing 7 per cent, the company said on Thursday.
According to the company, its EV subsidiary Tirex revenue crossed ₹100-crore mark during the previous fiscal.
The Hinduja Group firm Gulf Oil Lubricants on Wednesday had reported a 3.46 per cent dip in the consolidated Profit After Tax (PAT) to ₹89.59 crore for the March quarter. The company had recorded a consolidated PAT of ₹92.80 crore in the last quarter of FY25.
Revenue from operations for the fourth quarter of the previous fiscal was up 10.76 per cent at ₹1,055.26 crore from ₹952.74 crore in the corresponding quarter a year earlier.
For FY26, consolidated PAT dropped 3.51 per cent to ₹344.85 crore from ₹357.39 crore in FY25. Revenue from operations was at ₹4,057.04 crore in FY26 against ₹3,631.16 crore in FY25.
“Mobility remains a key strategic growth pillar for Gulf Oil as we continue expanding beyond lubricants into future-ready mobility solutions. Alongside strong growth in our core lubricants business, we are steadily building a scalable EV ecosystem as EV adoption and charging infrastructure demand continue to rise in India, with EV penetration in the two-wheeler segment nearing 7 per cent,” said Ravi Chawla, Managing Director & CEO, Gulf Oil Lubricants India.
FY26 marked a significant milestone in this journey with Tirex crossing the ₹100 crore revenue mark for the first time, he said.
Tirex today also holds a leadership position in India’s electric bus and fleet charging segment with nearly 40 per cent market share, reinforcing the company’s confidence in the mobility business becoming a meaningful contributor to Gulf’s long-term growth story, Chawla said.
The business is witnessing encouraging traction with marquee customer additions and remains well aligned with our long-term vision of building a future-ready mobility ecosystem and strengthening the EV segment as a key growth pillar for the company, Gulf Oil Lubricants said.
