Gulf Oil Lubricants India Ltd, a Hinduja Group company, has delayed the commissioning of its expansion project at Silvassa in Dadra and Nagar Haveli, by a month to January. It had said earlier that the expansion would be completed in December. The prolonged monsoon has delayed the commissioning.
With a current manufacturing capacity of 75,000 KL a year, the Silvassa plant is running at about 95 per cent capacity now. The company is boosting this to 90,000-95,000 KL with an investment of Rs40 crore (US$6.4 million).
The company also plans to begin construction of its proposed Rs125-crore (US$20.3 million) plant near Chennai shortly. Work on the plant is expected to begin soon and take about two years to complete. This will have capacity to manufacture 50,000 tonnes a year said Ravi Chawla, Managing Director, GOLIL. Gulf is targeting a 2016 opening date for that plant.
Last year, Gulf Oil reported a turnover of Rs. 1,017 crore (US$165 million). Gulf Oil Lubricants India Ltd has posted a profit after tax of Rs. 19.4 crore and gross turnover of Rs. 284 crore for the second quarter ended September 30, 2014. For the first-half ended September 30, 2014, the company achieved a turnover of Rs. 549 crore and profit after tax of Rs. 37.4 crore.
Gulf Oil International is part of the Hinduja Group and is responsible for the management of the Gulf brand in more than 100 countries across five continents. Gulf Oil Internationals core business is manufacturing and marketing an extensive range of more than 400 performance lubricants and associated products, for all market segments.
The company has also expanded into the global marine business. Hong Kong-based Gulf Oil Marine, has been delivering lubricants to ships across more than 1000 ports since 2008.
In December 2012, the company added Houghton International, the global market leader in metal working fluids into its fold, to further increase its presence in the areas of lubricants and specialty chemicals.
Gulf Oil Lubricants India Limited (GOLIL), is the resulting company housing the Lubricants Business of Gulf Oil Corporation Limited post the demerger. Gulf Oil is an established player in the lubricants market in India and markets a wide range of automotive, industrial lubricants and 2-wheeler batteries.
