GULF OIL Profit Increases 3 Times to Rs. 26.74 crores in Q4
Highlights for Q4
Highlights for F2009
Hyderabad, June 25
Q4 was Rs. 32.83 crores as against Rs.8.18 crores in the same quarter last year.
Profit after tax was Rs. 26.74 crores ( Rs. 8.06 crores ) an increase of 231%.
For the year ended on 31
996 crores and Profit after Tax by 16% to Rs. 29.05 crores. The Board has
recommended a Dividend of Rs. 1.70 per share.
Division wise performance and highlights are as under:
During the Fourth quarter of the financial year 2008-09, the Lubricants Division
achieved a gross turnover of Rs. 144 crores as compared to Rs. 136 crores in the
corresponding quarter of the previous year. For the year ended 31
2007-08. Import of base oils at high international market prices and exposure to
the depreciation of the Indian Rupee during Q3 and Q4 of F 2009 impacted
The automotive sector continued to witness a slowdown during the quarter,
particularly the commercial & industrial segments, resulting in reduced demand
for lubricants. The SBU managed to retain its base of customers in the bazaar
segment by achieving similar volumes to the previous year by launching
customised promotions & products catering to the agricultural segment, adding
new fleet customers & focussing on promoting sales of new products / skus.
Explosives Division achieved a net sales revenue of Rs. 251 crores during the
financial year 2008-09, a 33% yoy growth. This growth has been possible with
the focus on Value for Customer in both Domestic and exports Market.
Our new Initiating systems offering very low vibration and noise blasts,
Emulsion Explosives in Small Diameter Applications and Emulsion boosters
were well received in the market place. Our working with the customers to get
the best value from our products in their business resulted in organic growth and
also helped us develop several products and services best suited for their
Exports of Explosives grew 51% ( Rs. 40 crores in 2008-09 ). Our international
markets now include Countries in Eastern Europe, Africa, Middle East and
South East Asia. Our products compete with international brands and
companies in these markets.
MINING AND INFRASTRUCTURE DIVISION (IDLconsult DIVISION)
Contract Mining achieved net sales revenue of Rs. 211 crores during the year.
50% increase over last year and growing 3.3 times in a two year time line.
We started contract operation at a new coal site in Nighai, at Northern
Coalfields limited of Coal India, while, continuing several other metal mining
operations. In spite of recessionary trends, IDLconsult did well in the iron ore
mining sector in Orissa and Karnataka. Production volume from its iron ore
mines at Orissa has increased substantially. The contract in the iron ore mine of
NMDC at Donimalai is being carried out successfully. The Division has bagged
more works from the Aditya Birla Group for Structural works at their Alumina
plant in Orissa.
Our operations are now geographically diverse and well balanced with Coal,
Iron Ore, Manganese and other minerals along with Mining related
infrastructure projects. With National presence, experience in handling a
variety of minerals, ability to handle large volumes efficiently, we have emerged
as a partner of choice for mining companies. We are well prepared to
participate it the new growth of mining industry. Orders booked till date is
valued at over Rs. 400 crores.
SCHEME OF ARRANGEMENT
During the year the High Court of Andhra Pradesh sanctioned the Scheme of
Arrangement under Sections 391 to 394 of the Companies Act, whereby the
Speciality Chemicals Division of the Company was demerged and merged with
the IDL Speciality Chemicals Limited, a 100% subsidiary of the Company.
Simultaneously the Agro Division of IDL Speciality Chemicals Limited
( formerly known as IDL Agro Chemicals Limited ) was demerged and merged
the Company. The formalities after receipt of the Court Order have been
completed. As a result, the Speciality Chemicals business is currently a 100%
subsidiary of the Company with effect from 1
The Company received the approvals for :
a) Setting up of an IT/ITES SEZ on 30 acres out of the 40 acres
proposed to be developed at Yelahanka Bangalore from both the
Government of Karnataka and the Central Government in June 2009.
b) Approval for a Knowledge Park on 100 acres at Hyderabad from
the Government of Andhra Pradesh
Requisite layout plans and financing proposals along with the Developer and
Architects are being finalised