Gulf Oil Lubricants India Ltd (GOLIL) has reinforced its commitment to India’s growing electric mobility ecosystem by acquiring an additional 14.18% stake in Tirex Transmission Private Limited for ₹38.09 crore. With this move, Gulf Oil’s total holding in Tirex will increase to 65.18%, strengthening its control over one of India’s leading EV charging solution providers.

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The decision marks another milestone in Gulf Oil’s journey toward diversification and innovation in clean energy. As India accelerates its transition toward electric mobility, Gulf Oil aims to play a central role in building the EV charging infrastructure that powers this transformation.

Approved during the company’s board meeting on November 5, 2025, the transaction involves the purchase of 11,71,929 equity shares of ₹10 each. The acquisition, expected to be completed within two to three months, reflects Gulf Oil’s proactive approach to supporting future-ready energy solutions beyond traditional lubricants.

The acquisition amounting to ₹38.09 crore will be executed via cash investment, demonstrating Gulf Oil’s strong financial backing and confidence in Tirex’s growth potential. Once completed, the company’s majority stake of 65.18% will give it greater strategic control over Tirex’s business operations and innovation roadmap.

This move is a calculated step toward long-term value creation in the rapidly expanding EV charging market, positioning Gulf Oil as a serious player in e-mobility technology. It also highlights the brand’s shift from a traditional lubricants business to a sustainable mobility-focused enterprise.

Founded in July 2021 and based in Ahmedabad, Tirex Transmission specializes in designing and manufacturing AC and DC fast chargers for electric vehicles. The company’s solutions cater to multiple customer segments, including commercial fleets, EV infrastructure developers, and public charging networks.

Tirex’s growth has been exceptional. The company’s revenue has surged 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. This rapid financial performance reflects India’s increasing adoption of electric vehicles and the urgent need for reliable charging infrastructure.

Following the announcement, Gulf Oil Lubricants India’s share price was trading at ₹1,222 per share as of November 6, 2025, marking a 3.35% rise from the previous close. While the stock has dipped 0.73% over the past month, investors have shown optimism toward the company’s forward-looking strategy in EV infrastructure expansion.

By increasing its stake to 65.18%, Gulf Oil underscores its strategic intent to lead India’s EV charging revolution. The investment strengthens Tirex’s position as a key enabler of the country’s e-mobility infrastructure and aligns with Gulf Oil’s broader goal of diversifying into energy-efficient, technology-driven businesses.

This move not only consolidates Gulf Oil’s role in the EV value chain but also signals the company’s long-term commitment to supporting India’s clean energy transition. As the nation moves toward mass EV adoption, Gulf Oil’s foresight and early investments in this space position it strongly for future growth.

Gulf Oil’s additional investment in Tirex represents more than just an ownership increase—it’s a strategic pivot toward innovation, sustainability, and long-term competitiveness. As Tirex continues to scale, Gulf Oil is set to emerge as a driving force behind India’s EV charging infrastructure and sustainable mobility ecosystem.