Gulf Oil Corporation Limited

The Gulf Story

This page discusses the history and profile of Gulf Oil India prior to its merger with IDL Industries to form Gulf Oil Corporation Limited.

The liberalisation policies of Government of India, introduced in 1992 were responsible in a large way for the emergence of Gulf Oil India.

Gulf Oil India Limited was promoted in 1993 by Ashok Leyland Limited with its associated companies and 50% equity participation from Gulf Oil International along with Hinduja Consultancy Ltd. to became first such company in India within the industry.

Ashok Leyland Ltd. (ALL) is India's second largest manufacturer of commercial vehicles and diesel engines. ALL has five plants in India and with its own R&D base it has established a tradition for technological leadership and a strong reputation for product liability.

ALL was the first to introduce 3-axle trucks and full air-brakes in India. Recently, as a result of almost US$200 million investment program and technology from IVECO a new generation of world class trucks - the cargo series, has been added to its products range.

It also manufactures 60 other models in the light, medium and heavy duty vehicle range. ALL was the first automotive manufacturer in India to receive the ISO 9002 certificate. For the year ended March 1999, ALL registered sales turnover of Rs.20,451 millions and PAT of Rs.203.68 millions.

GULF has agreement with GULF Oil International (Mauritius) Inc. for Trademarks licence and Technical Know-How. Initially GULF introduced a whole range of GULF's international products into the country through toll blending arrangements.

In 1995 the Company set up its first State-of-the-art blending plant at Silvassa to take benefits extended by the Government policies in this Territory in the form of Sales Tax and Income Tax exemptions. The Silvassa plant has the lubricating oil production facility for 75,000 tpa and is equipped with the 'State-of-the-art' equipments including PLC for blending control.

In 1994 the Company promoted a subsidiary company viz. GULF CareX India Limited ("GCIL") with a technical collaboration with SIPAL Arexons SpA, Italy and Member of Fiat Group Companies for manufacture and marketing of wide range of vehicle maintenance products.

GCIL launched its product range of 'Do-it-yourself' that keep the vehicle fit. The name of GULF CareX India Limited was changed to GULF Carosserie India Limited in 1996. GCIL commenced successful operations in Greases in a big way from 1997.

On August 31, 1996 GULF merged with Pita Ashish Oils & Lubricants Ltd., a listed company and subsequently on September 4, 1996 the merged entity changed its name from Pita Ashish Oils & Lubricants Ltd. to GULF Oil India Limited and thereby completed exercise of so-calledreverse merger.

During 1997 the second manufacturing facility was started at Calcutta under blending & filling arrangements to cater to Eastern and North-eastern locations. The annual capacity of the Calcutta plant is 12,000 kl.

GULF's Manufacturing and Quality Control facilities at both plants viz. Silvassa and Calcutta as well as Purchase, Supply and Distribution, and Technical Department are certified under ISO-9002 certification.

In 2002, Gulf Oil India merged with IDL Industries to form Gulf Oil Corpoartion Limited with headquarters in Hyderabad, India.