Gulf Oil Lubricants (GOLI) has received a "BUY" rating from Emkay Global Financial, with a target price of Rs 1,800.

The company is expected to experience strong core volume growth of 8% CAGR from FY24 to FY27, surpassing industry growth. GOLI aims to maintain a healthy EBITDA margin of 13-14% through premiumization strategies, brand development, and effective cost management.

The company is also focused on strengthening relationships with Original Equipment Manufacturers (OEMs) and expanding its customer base in the industrial and business-to-consumer (B2C) sectors. GOLI's entry into the electric vehicle charging market is expected to double Tirex's turnover annually over the next 3-4 years, with a long-term revenue target of Rs 5-7 billion per annum.

Emkay predicts consistent volume-earnings growth for FY25-27 and highlights a healthy dividend yield of approximately 4%.