Meanwhile, Gulf Oil acquired an additional 14% stake in Tirex Transmission, increasing its total holding to 65%, with an investment outlay of around Rs 38 crore. Tirex reported a 75% revenue growth in H1 FY26 with a topline of Rs 42 crore, reflecting strong demand and new marquee client additions. The strategic move underscores Gulf Oil’s confidence in Tirex’s long-term potential and strengthens its position in the EV charging and e-mobility ecosystem.
Gulf Oil Lubricants India (GOLIL) is part of the transnational conglomerate Hinduja Group. GOLIL sells its lubricant products under the Gulf brand, with sales largely to the automotive sector along with industrial users.
Shares of Gulf Oil Lubricants India declined 3.36% to Rs 1,222.90 on the BSE.