External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Gulf Oil Lubricants India / Equity Bottom-Up

<ul><li>Gulf Oil (GOLI) delivered a relatively strong Q3FY25 with 10%/21.6% YoY growth in EBITDA/PAT to INR 1.2bn/INR 0.98bn (ISec: EBITDA/PAT INR 1.1bn/INR 0.87bn).</li><li>Better product/segment mix, lower crude prices and premiumisation drove EBITDA margin to 13.5%, up 90bps QoQ and above I-Sec’s estimate of 12.8%.</li><li>Double-digit growth in mobility and B2B segments with recovery in AdBlue volume reflected in core lubricant/AdBlue volume of 38.5mn/36mn litres (+6.9/+16.1% YoY, ahead of I-Sec’s est 38/35mn).</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Gulf Oil (GOLI) delivered a relatively strong Q3FY25 with 10%/21.6% YoY growth in EBITDA/PAT to INR 1.2bn/INR 0.98bn (ISec: EBITDA/PAT INR 1.1bn/INR 0.87bn).Better product/segment mix, lower crude prices and premiumisation drove EBITDA margin to 13.5%, up 90bps QoQ and above I-Sec’s estimate of 12.8%.Double-digit growth in mobility and B2B segments with recovery in AdBlue volume reflected in core lubricant/AdBlue volume of 38.5mn/36mn litres (+6.9/+16.1% YoY, ahead of I-Sec’s est 38/35mn).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Gulf Oil Lubricants India - Quarterly Earnings Hit a New High, Remains on Track for Strong Growth