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Gulf Oil scouts acquisitions in Asia, South America

By · Published by Everything Blog

In short

The brand is looking to deepen its presence across developing territories like Vietnam alongside established South American operations in Brazil, Argentina, and Chile. Meanwhile, its marine lubricants unit has grown into the world's second-largest supplier, servicing over 1,000 ports worldwide. To support this momentum, the company's publicly traded Indian subsidiary is deploying capital to substantially boost local factory output following strong quarterly earnings.

Key points

  • Gulf Oil International is evaluating potential listing venues and timelines to take the p…: Gulf Oil International is evaluating potential listing venues and timelines to take the privately held business public in the next three to five years.
  • Indian operations demonstrated robust financial growth as second-quarter profit rose 34.4…: Indian operations demonstrated robust financial growth as second-quarter profit rose 34.48% to ₹117 crore alongside a 44% jump in revenue.
  • Banking advisers have been commissioned to evaluate acquisition assets across Southeast A…: Banking advisers have been commissioned to evaluate acquisition assets across Southeast Asia and South America, though no formal financial commitments exist yet.

Sources checked by our analysis pipeline: 1

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The company also plans to re-enter the US market in 2027 through a master-licensing arrangement covering 11 states, with discussions under way to expand into other parts of the country, Sanjay Hinduja, non-executive chairman of Gulf Oil Lubricants India, told ET.

The US was excluded when the Hinduja family acquired Gulf from Chevron Corp in 1984. The planned entry will mark the company's return to a market it had not been permitted to operate in under the original acquisition arrangement.

The group also intends to list Gulf Oil International in the next three to five years, although the listing venue and timing have not been decided.

"We are still busy expanding, acquiring and growing," said Hinduja, adding that the company was still a few years away from going public. Gulf Oil International remains privately held and does not disclose its revenue figures.

Its Indian entity is listed and has a market capitalisation of ₹5, 113 crore. Last week, Gulf Oil Lubricants India reported a 34.48% year-on-year increase in net profit to ₹117 crore…

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