Gulf Oil Lubricants shares surged over 5% in trade today to hit a fresh record high after brokerage firm Systematix initiated coverage on the stock. The firm has initiated coverage with a “BUY” rating and set a target price of ₹1,700 per share, reflecting a potential upside of 14% from the current market price. As of 2:10 PM, Gulf Oil Lubricants share price was up 5.2% at Rs 1,490 on the NSE.
Systematix’s analysis highlights Gulf Oil’s impressive performance in the lubricants sector, noting an 8.2% compound annual growth rate (CAGR) over the past decade, significantly outperforming the industry average of 3.2%. The company holds a notable 7%-8% market share in lubricants and 25% in the AdBlue segment.
Looking ahead, Systematix forecasts that Gulf Oil’s overall volumes will continue to exceed the industry CAGR by 11% from FY24 to FY27. The brokerage firm also anticipates growth driven by strategic acquisitions and the company’s expansion into electric vehicle (EV) charging and data center fluids.
Systematix projects a revenue CAGR of 9.7%, EBITDA growth of 12.6%, and PAT growth of 14.6% over the next three years, underscoring a strong growth outlook for Gulf Oil Lubricants.