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    Expect margins in 14-14.5% range: Gulf Oil Lubricants CFO

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    Expect margins in 14-14.5% range: Gulf Oil Lubricants CFO

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    Gulf Oil Lubricants is on radar -- in this week alone the stock has slipped 5 percent. The company had reported a weak third quarter with margin under pressure. Manish Gangwal, CFO of Gulf Oil Lubricants spoke to CNBC-TV18 to discuss the company's business trends and the outlook.

    Gulf Oil Lubricants is on radar -- in this week alone the stock has slipped 5 percent. The company had reported a weak third quarter with a margin under pressure. Manish Gangwal, CFO of Gulf Oil Lubricants spoke to CNBC-TV18 to discuss the company's business trends and the outlook.
    On price hikes Gangwal said, “The margins during the Q3 saw some pressure because of two things. The rising input costs were there, but also we had taken a series of pricing increases to pass on the input costs increase to the end customers and consumers, which has been largely done. We had to take almost five price increases during this last nine-month period. Our top-line has gone up because of that and, in relative terms, the margin looks weaker.”
    He added, “On the same realisation basis, our margin still would be in the range of around 14-14.50 percent, which is the largely the band 14 to 16 percent we have been guiding about.”
    Gangwal said rural demand was lower in the last quarter. He added, “However we are seeing the demand uptick. The December month was a particularly very good month beating many records for us.”
    For full management commentary, watch the video.
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