Gulf Oil Lubricants Focuses on Rapid Expansion into Battery Industry Amid Growing Demand

Mumbai, India - Gulf Oil Lubricants India, a leading player in the lubricants industry, is eyeing significant expansion into the rapidly growing battery sector. According to Ravi Chawla, Managing Director and CEO of the company, oil-to-chemicals behemoth has seen its revenue and volume grow at twice the market rate, driven primarily by strong performance in motorcycle segments.

However, the company's factory fill segment is currently experiencing a slowdown, with only 10% of its business coming from this area. Excluding this impact, Gulf Oil Lubricants reported a growth rate of 9-10%, highlighting a stable overall B2C-to-B2B ratio of 55:45.

"We are witnessing double-digit growth in segments such as motorcycles and industrial and infrastructure," Chawla said, expressing optimism about the outlook for the company's business. "The factory fill segment has been impacted by market trends, but we see signs of recovery on the horizon. With the Union Budget announcements set to benefit the middle class, we anticipate accelerated growth in the coming months."

As the battery industry continues to gain momentum driven by the rapid adoption of electric vehicles, Gulf Oil Lubricants is well-positioned to capitalize on this trend with its diverse portfolio of oil and chemicals products. The company's expansion plans mark an exciting development in the rapidly evolving landscape of the Indian lubricant market.