India’s TOP 500 Companies 2020

INDIA’S TOP 500 COMPANIES 2020 129 Experts’ View Gulf Oil Lubricants India Limited RAVI CHAWLA Managing Director & CEO Tell us about Gulf Oil Lubricants journey in the Indian market thus far. Gulf Oil Lubricants India Limited (Gulf Oil) is one the fastest growing brands among private sector players and has consistently outperformed the industry for the past decade now, leading to healthy improvement in its market share. During the period, not only did the company’s market share double but the company also delivered a PBT growth of more than 30% CAGR. Gulf Oil is among the top three private sectors players in terms of volumes and brand recall. The company has built scalable and strong business models across verticals and segments. Gulf Oil has worked with various existing & new Original Equipment Manufacturers (OEMs) and has recorded a rise from 2 OEMs to 14 OEMS. What solutions or initiatives has the company introduced to help its customers and other stakeholders at large gear up for a post-COVID world? Gulf Oil continued to provide supplies to essential services even during the lockdown. The company has been digitizing several customer centric processes such as an online ordering tool to facilitate digital payments and contactless ordering system, tie- ups with ecommerce and delivery aggregators among others. The company initiated many CSR initiatives such as #GulfHaiSaath #GulfSuraksha to actively support our mechanics & retailers and also worked closely with local and govt bodies to provide immediate help & relief to those majorly impacted. The company has built enough cashflow/liquidity to keep the business cycle moving and has simultaneously focused on collection efficiency improvement solutions. In view of the COVID-19 pandemic, the company has accordingly undertaken the measure of cost optimization for each cost line item in order to develop resilience towards any such unforeseen events post-COVID world. What are some of the key factors that contributed to the company’s success? What is your outlook for the next 3-5 years? Firstly, strong parentage. Hinduja group is defined by its principles, strong value system and rich experience across diverse businesses. By adopting the group’s holistic approach in its business, Gulf Oil has always created sustainable value for all its stakeholders. The company garnered double-digit growth year after year even though the industry volumes grew in single digits. Strategies to provide innovative products, strong focus on company’s core values of Quality Endurance & Passion, investments in brand building, nurturing partnerships with OEMs, adding B2B customers across industries, expanding distribution network and adding new channels, embracing best technology and digitalization practices and building a motivated team are expected to add to the company’s growth trajectory thereby helping to continue to grow 2-3X of market growth. “ Gulf Oil is one the fastest growing brands among private sector players and has consistently outperformed the industry for the past decade. ” Dun & Bradstreet