GULF OIL CORPORATION LIMITED
		Registered Office: Kukatpally, Sanathnagar (IE) PO, Hyderabad-500 018
		AUDITED FINANCIAL RESULTS
		FOR THE YEAR ENDED 31.03.2007
						Rs.Lakhs				Rs. Lakhs
		Particulars	Unaudited 9 Months ended              31-12-2006	Unaudited Quarter ended		Audited Year ended			Unaudited Consolidated for the year ended
				31-03-2007	31-03-2006	31-03-2007	31-03-2006		31-03-2007	31-03-2006
		1. INCOME FROM SALES & OTHER OPERATIONS	45986.28	20879.36	15758.87	66865.64	50724.65		68223.45	52207.56
		Less Excise Duty	4629.80	2101.01	1429.37	6730.81	4809.84		6742.82	4811.08
		Net Sales	41356.48	18778.35	14329.50	60134.83	45914.81		61480.63	47396.48
		2  Income from Property Development	1987.00	1350.00	350.00	3337.00	350.00		1350.00	-
		2. Other Income	306.20	11.79	138.33	317.99	2015.38		328.42	2050.71
		Total Revenue	43649.68	20140.14	14817.83	63789.82	48280.19		63159.05	49447.19
		3. Total Expenditure	39822.82	17580.54	13879.44	57403.36	43855.24		58932.69	45685.25
		a) (Increase)/decrease in Stock in trade	(999.17)	299.72	64.20	(699.45)	(599.01)		(754.01)	(557.92)
		b) Purchase of goods for resale	4745.10	796.99	2251.63	5542.09	4044.06		6483.21	4380.51
		c) Consumption of raw materials,etc.,	22545.90	9587.54	6758.34	32133.44	21217.07		32009.52	26647.98
		d) Expenses on Operation Contracts	2129.18	1749.80	982.67	3878.98	5831.63		3909.73	5831.63
		e) Staff Cost	3528.56	1327.62	1037.67	4856.18	4055.75		5031.99	4268.68
		f) Other expenditure	7873.25	3818.87	2784.93	11692.12	8789.38		12252.25	9494.88
		4. Interest (Net)	1119.35	619.28	268.66	1738.63	835.60		1751.29	871.18
		5. Depreciation	675.23	326.91	185.05	1002.14	701.57		1073.99	777.20
		6. PROFIT BEFORE TAX & Extra -Ordinary Item (1+2-3-4-5)	2032.28	1613.40	484.68	3645.69	2887.78		1401.08	2113.56
		7. Extraordinary Items - VRS Compensation	311.62	150.70	95.76	462.32	344.35		462.32	344.35
		8.PROFIT BEFORE TAX (6-7)	1720.66	1462.70	388.92	3183.37	2543.43		938.76	1769.21
		9. Provision for Current Tax	195.00	159.00	35.00	354.00	135.00		356.07	135.03
		10. Tax Provision of earlier years written back	-	(59.32)	-	(59.32)	-		(59.32)	-
		10.Fringe Benefit Tax	60.13	59.97	51.50	120.10	109.83		121.07	111.71
		11.Profit before Deferred Tax (8-9-10)	1465.53	1303.06	302.42	2768.59	2298.60		520.94	1522.47
		12.Provision For Deferred Tax	(50.00)	518.00	(100.00)	468.00	20.00		435.97	83.16
		13.NET PROFIT AFTER TAX (11-12)	1515.53	785.06	402.42	2300.59	2278.60		84.97	1439.31
		14.Less : Minority Interest (Overseas)	-	-	-	-	-		2.96	(35.82)
		15. Profit after Minority Interest	-	-	-	-	-		82.01	1475.13
		16.Paid up Equity Share Capital (Face value of Rs.10 each)	1387.17	1487.17	1387.17	1487.17	1387.17		1487.17	1387.17
		17.Reserves excluding revaluation Reserves (as per Balance Sheet)				14388.71	13393.06		11161.67	12413.96
		18.EPS for the period (not to be annualised) - Basic	10.93	5.28	2.90	16.58	16.43		0.55	10.63
		- Diluted	10.45	5.06	2.86	15.84	16.21		0.58	10.50
		19. Aggregate of Non-Promoter shareholding
		No. of Shares	7070767	8070767	7070767	8070767	7070767		8070767	7070767
		Percentage of shareholding	50.97	54.27%	50.97%	54.27%	50.97		54.27	50.97
		SEGMENT INFORMATION AS PER CLAUSE 41 OF THE LISTING AGREEMENT FOR THE QUARTER AND YEAR ENDED 31st MARCH 2007
		Rs.Lakhs
			Unaudited 9 Months ended              31-12-2006	Unaudited Quarter ended		Audited Year ended			Unaudited Consolidated for the year ended
		Particulars
				31-03-2007	31-03-2006	31-03-2007	31-03-2006		31-03-2007	31-03-2006
		1. Segment Revenue
		a.  Explosives	10620.17	4248.53	3555.63	14868.70	13078.92		14868.70	13078.92
		b.  Lubricants	25678.26	9954.27	9657.03	35632.53	25985.87		38821.59	25985.87
		c.  Consult (Mining/Infrastructure contracts)	3558.99	2885.18	1253.83	6444.17	7201.39		6444.17	7201.39
		d.  Speciality Chemicals	1765.81	1596.62	-	3362.43	-		3362.43	-
		e.  Property Development	1987.00	1350.00	350.00	3337.00	350.00		1350.00	350.00
		f.  Others	-	0.04	9.32	0.04	49.28		174.47	49.28
		g.  Unallocable Income	64.97	115.60	-	180.57	1642.50		180.57	1642.50
		Total	43675.20	20150.24	14825.81	63825.44	48307.96		65201.93	48307.96
		Less: Inter segment revenue	25.52	10.10	7.98	35.62	27.77		2042.88	27.77
		Income from Sales & other Operations	43649.68	20140.14	14817.83	63789.82	48280.19		63159.05	48280.19
		2. Segment Results
		Profit/(loss) (before tax and interest from each segment)
		a.  Explosives	45.67	(191.99)	(78.19)	(146.32)	85.17		(146.32)	85.17
		b.  Lubricants	1056.78	657.29	693.98	1714.07	1445.10		1575.43	1445.10
		c.  Consult (Mining/Infrastructure contracts)	817.60	585.28	74.66	1402.88	866.77		1402.88	866.77
		d.  Specialty Chemicals	(290.43)	(44.52)	-	(334.95)	-		(334.95)	-
		e.  Property Development	1978.10	1350.00	350.00	3328.10	350.00		1341.10	350.00
		f.   Others	32.76	(58.44)	(370.47)	(25.68)	(344.61)		(74.11)	(344.61)
		Total	3640.48	2297.62	669.98	5938.10	2402.43		3764.03	2402.43
		Less:
		(i)  Interest paid (net of interest received)	1119.35	619.28	268.66	1738.63	835.60		1751.29	835.60
		(ii) Other un-allocated expenditure net off un - allocated income	800.47	215.63	12.40	1016.10	(976.60)		1073.99	(976.60)
		Total Profit Before Tax	1720.66	1462.71	388.92	3183.37	2543.43		938.75	2543.43
		3. Capital Employed as on
		a.  Explosives	7681.76	8001.06	7132.65	8001.06	7132.65		8001.06	7132.65
		b.  Lubricants	6426.09	7107.84	6001.34	7461.84	6001.34		7427.36	6001.34
		c.  Consult (Mining/Infrastructure contracts)	4576.88	6793.72	1984.22	6793.72	1984.22		6793.72	1984.22
		d.  Specialty Chemicals	7007.17	7468.96	-	7468.96	5411.84		7468.96	-
		e.  Property Development	70.90	81.70	-	81.70	-		81.70	-
		f.  Others	236.14	194.77	279.28	194.71	279.28		812.08	279.28
		g.  Unallocable-Corporate	7940.40	8692.35	9845.46	7033.41	4433.62		7033.41	9845.46
		Total	33939.34	38340.40	25242.95	37035.40	25242.95		37618.29	25242.95
		Notes
		1. The above results were reviewed by the Audit Committee and taken on record at the meeting of the Board of Directors of the Company held on 25th May 2007
		2. The Company has entered into Agreements for development of its 3 smaller properties and an option for Development Agreement of its larger properties at Hyderabad and Bangalore. During the quarter, the Company has received part amount towards development rights and a non refundable commitment fee against the option agreement both amounting to Rs. 3337 lakhs.
		3. The auditors in their report have mentioned that they are unable to take a view in the absence of sufficient taxable profit, the appropriateness of carrying deferred tax asset of Rs.993 lacs.  Management is confident that the Company will make sufficient profits to absorb the deferred tax asset.
		4. In view of Accounting Standards (AS) 15 (Revised 2006) "Employee Benefits" issued by the ICAI, which is applicable for financial year commencing from 6th Dec. 2006, adjustments on account of transitional provisions will be dealt with in the opening reserves in the next financial year and subsequent charges will be charged to P&L
		5. The Board of Directors has recommended a dividend of Rs. 7.50 (75 %) per share for the year 2006-07.
		6. Investor's complaints: Pending at the beginning of the quarter: 4 ; Received during the quarter: 24 ; Cleared during the quarter: 28; Pending complaints: Nil.
		7. Previous period / year figures have been regrouped / recasted wherever necessary.
						By Order of the Board
						for GULF OIL CORPORATION LTD.
		Hyderabad					Sd/-
		May 25, 2007				S. Pramanik
						MANAGING DIRECTOR