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Gulf Oil’s Q1 FY27 earnings prompt Systematix to raise target price to Rs 1,601
Gulf Oil Lubricants India reported record Q1 FY27 performance, with revenue up 32.5% and EBITDA up 34.6%, despite base-oil inflation and supply disruptions. Systematix retained its Buy rating and raised the target price to Rs 1,601.
Reported figures
From the report. Source details below
| Q1 FY27 revenue: | ~Rs 1,320 crore, up ~32.5% YoY and ~26.9% QoQ |
|---|---|
| Core lubricant volume: | 48KL, up 17% YoY |
| EBITDA: | ~Rs 170 crore, up 34.6% YoY and 26.1% QoQ |
| EBITDA margin: | ~12.9%, up ~20 bps YoY |
| Adjusted PAT: | ~Rs 130 crore, up ~31.9% YoY and ~41.7% QoQ |
| Systematix target price: | Rs 1,601, revised from Rs 1,475 |
| Systematix valuation multiple: | 15x PER |
| FY27E/FY28E valuation: | 12.0x/10.9x EPS |
| ROE/ROCE: | 25%+ |
| Dividend yield: | ~5-6% |
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