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Q4 slowdown due to setback in auto industry, says Gulf Oil Lubricants

Updated : May 16, 2019 11:57 AM IST

Ravi Chawla, MD of Gulf Oil Lubricants, spoke to CNBC-TV18 about the company's financial results and shared growth outlook.

"The core volume growth for FY19 was 18 percent, which was good compared to the industry growth of 2-3 percent. We still believe that the industry is having positive growth. Given that our trajectory has improved, the customer base is up, our strategies are working, we think that 11-12 percent CAGR growth, which was there till last year we see that an upside to that,” Chawla said on Thursday.

"The slowdown in Q4 was mainly due to setback in the automobile industry, elections etc", he said.

On the pricing front, Chawla said, "In the B2C market, which is 60-65 percent of their portfolio they did take 2-3 percent price hikes late last calendar year. Moreover, the B2C mix – the automotive product range did better and aided realisations in the quarter gone by", said Chawla.
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