GP Petroleums Ltd (GPPL) is preparing for a major transformation as it aims to grow from an India-focused industrial lubricants manufacturer into a diversified international energy and lubricants business. The company expects to achieve a combined turnover of approximately ₹3,000 crore by integrating overseas assets following the entry of its new strategic investor, Incubit.
Vaswani, Non-Executive Director at GPPL and a former executive who helped establish ELF’s operations in India, sees significant growth potential in the company. Drawing on his experience across Asia-Pacific, the Middle East and the Philippines with Total and ELF, he aims to apply his expertise in building and scaling businesses to GPPL’s next phase of growth.
GP Petroleums Planning to Build a ₹3,000 Crore Business
GPPL’s expansion strategy centres on integrating a portfolio of assets acquired by Incubit, which held close to a 14% stake in the company as of June 2026. The portfolio includes lubricant manufacturing operations in Nigeria and Tanzania, fuel retail networks in Kenya and Uganda, a terminal asset at Pipavav, and Dubai-based lubricant company MagLube. Following the proposed integration, the combined business could generate approximately ₹3,000 crore in revenue. This would represent substantial growth compared with GPPL’s standalone turnover of around ₹643 crore in FY2026. Moreover, the integration would expand the company’s international footprint and diversify its revenue streams across lubricants, fuel retail and related energy infrastructure.
Automotive Lubricants Emerge as a Key Growth Driver
Alongside international expansion, GPPL is prioritising automotive lubricants to strengthen its domestic business. Although its iPOL brand has an established presence in industrial lubricants and rubber process oils, the company has historically maintained a relatively limited presence in the automotive segment. However, automotive lubricants account for nearly 55% of India’s lubricant market, presenting a significant opportunity for GPPL to expand its market share and improve profitability. To capitalise on this opportunity, the company is revamping its distribution network, strengthening its leadership team and leveraging its licensing arrangement with Spanish lubricant major Repsol. “The main focus is now on growing the automotive business,” Vaswani said. Currently, GPPL sells approximately 4,000–4,500 tonnes of automotive lubricants annually under its Repsol and iPOL brands. The company aims to increase this volume nearly fivefold to around 20,000 tonnes over the next five years.
Repsol and iPOL to Target Different Market Segments
GPPL plans to position Repsol as its premium automotive lubricant brand, targeting competition with established international brands such as Castrol and Valvoline. Meanwhile, iPOL will serve the mass-market segment. To support this strategy, the company intends to expand its distributor network and strengthen engagement with mechanics, who play an important role in influencing lubricant purchasing decisions. By combining premium and mass-market offerings, GPPL aims to reach a wider customer base and accelerate growth in India’s competitive automotive lubricants market.
Africa and Southeast Asia Offer International Expansion Opportunities
GPPL also sees considerable potential in international markets, particularly Africa. Based on his experience managing Total’s operations across emerging markets, Vaswani believes the continent offers opportunities to expand both sales volumes and profitability. As part of its growth strategy, GPPL plans to increase its fuel retail network in Kenya and Uganda from approximately 40 stations to nearly 100 over the next few years. The company is also exploring opportunities in neighbouring African markets. Furthermore, GPPL may expand into Southeast Asia once it completes and stabilises the current integration. The company will evaluate opportunities to grow its presence in the region using its iPOL and Repsol brands. This approach could help GPPL establish a broader international presence while diversifying its revenue base beyond India.
AI and Digitalisation to Support Business Scalability
In addition to acquisitions and market expansion, GPPL is investing in artificial intelligence (AI) and digital technologies to improve operational efficiency. The company has appointed an AI leader and is developing digital capabilities to support future growth without a proportional increase in operating costs. “With the existing headcount, we can probably support a business twice the current size,” Vaswani said. Accordingly, GPPL intends to use AI to streamline operations, improve productivity and manage a larger business more efficiently. This technology-led approach could help the company scale its operations while maintaining cost discipline.
GP Petroleums Focuses on Long-Term Growth
GPPL’s growth strategy combines international asset integration, automotive lubricant expansion, geographic diversification and technology adoption. Together, these initiatives could transform the company’s business profile and strengthen its position in the global lubricants and energy markets. For Vaswani, the opportunity builds on decades of experience developing businesses across multiple regions. As reported by thehindubusinessline.com, with India serving as a key growth market and overseas operations offering additional opportunities, GPPL aims to establish a larger, more diversified international enterprise through disciplined execution and strategic expansion.
