Gulf Oil Lubricants Acquires Additional 14.18% Stake in Tirex to Strengthen E-Mobility

Gulf Oil Lubricants India Limited has intensified its push into electric mobility by increasing its stake in subsidiary Tirex Transmission Private Limited, reinforcing its strategy to grow in the EV charging ecosystem.

Key Development

Gulf Oil’s Board, in its meeting on November 5, 2025, approved the acquisition of an additional 14.18% stake in Tirex by purchasing 11,71,929 equity shares of face value ₹10 each. 

The deal will be executed through a cash investment of ~₹38.09 crore, planned to be completed within 2–3 months. With this acquisition, Gulf Oil’s total shareholding in Tirex will rise to 65.18%, increasing strategic control over the subsidiary.

Strategic Rationale & Focus on EV Growth

The acquisition is positioned as a strategic investment, driven by Tirex’s rapid scale-up and the high-growth potential of India’s EV charging market. Tirex operates in the E-Mobility segment, specialising in designing and manufacturing AC & DC fast chargers for electric vehicles. Gulf Oil highlighted that the move reinforces confidence in Tirex’s growth trajectory and supports its long-term EV ambitions.

Tirex Revenue Momentum

Tirex has demonstrated strong financial momentum since its inception. Incorporated in July 2021 and headquartered in Ahmedabad, the company has seen turnover rise sharply from ₹1,326.16 lakh in FY 2022–23 to ₹2,508.94 lakh in FY 2023–24, and further to ₹7,870.91 lakh in FY 2024–25, driven by rapid EV infrastructure deployment across India.

Read More: Jaiprakash Associates Schedules 23rd Committee of Creditors Meeting on November 7, 2025!

Gulf Oil Lubricants India Share Price Performance 

As of November 06, 2025, at 12:41 PM, Gulf Oil Lubricants India share price is trading at ₹1,222 per share, reflecting a surge of 3.35% from the previous closing price. Over the past month, the stock has declined by 0.73%.

Conclusion 

By raising its stake to 65.18%, Gulf Oil reinforces its commitment to the fast-growing EV charging space. The strategic investment in Tirex reflects a clear shift from traditional lubricants toward future-ready mobility solutions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.