Gp Petroleums

What Gp Petroleums does

GP Petroleums Limited is an India-listed (NSE: GULFPETRO) specialty petroleum products manufacturer headquartered in Mumbai, with a core focus on bitumen-based products including emulsions, Polymer Modified Bitumen (PMB), and Crumb Rubber Modified Bitumen (CRMB). Its specialty bitumen franchise is operated through Amron Oil Resources, a 50:50 joint venture with West Coast Oils LLP established in 2004, which serves as the operational vehicle for GP Petroleums' downstream bitumen activities and infrastructure customer relationships.

The company monetizes primarily through sales of formulated bitumen products to public-sector and infrastructure customers in Western India, most notably Indian Oil Corporation (IOCL) and Gujarat state public infrastructure projects. A June 2026 partnership designates Amron Oil Resources as the operating partner for IOCL's Pipavav Bitumen Cell, anchoring the company's logistics presence at the Pipavav port. For FY26, GP Petroleums reported revenue of Rs. 643 crore with EBITDA margin of ~9% and PAT of Rs. 26.50 crore, reflecting modest top-line growth (~5% YoY) alongside margin expansion versus FY25.

Leadership comprises Mr. Prashant Achar as CEO and Ayush Goel as Chairman. The VP Operations & Supply Chain function saw a transition with Ashish Garg's resignation effective June 30, 2026. The business model is anchored on JV-driven specialty manufacturing, port-adjacent feedstock logistics, and government/infrastructure customer concentration rather than digital or consumer channels.

Name

Gp Petroleums

Legal name

GP Petroleums Limited

Website

https://gppetroleums.co.in

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

GP Petroleums Limited is a Mumbai-based, India-listed specialty bitumen manufacturer producing emulsions, PMB, and CRMB via its Amron Oil Resources JV, serving IOCL and Gujarat public infrastructure customers from the Pipavav port corridor.

Ownership category

akta.pro rank

Product category

Specialty Bitumen & Lubricants Manufacturing

NAICS

Petroleum and Coal Products Manufacturing (324)

SIC

Petroleum Refining (2911)

akta.pro primary industry

Oilfield & Refining Specialty Chemicals (IMAEABAI)

akta.pro secondary industry

Industrial & Waterproofing Bitumen Products (Roofing, Membranes, Shingles, Sealants) (EUALAKAF)

Keywords

• Specialty bitumen manufacturing
• Polymer modified bitumen
• Crumb rubber modified bitumen
• Road construction materials
• Industrial lubricants

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure

Revenue model

1. Bitumen Manufacturing and Supply: GP Petroleums generates revenue through manufacturing and supplying high-performance bitumen products including specialty emulsions, polymer modified bitumen, and crumb rubber modified bitumen. Revenue streams include bulk bitumen dispatches and specialty product sales to infrastructure and road construction sectors.
2. Operating Partner Services: Through its 50:50 joint venture Amron Oil Resources with West Coast Oils LLP, GP Petroleums earns revenue as operating partner for IOCL's Pipavav Bitumen Cell, providing specialized bitumen operations and supply chain management services.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

GP Petroleums manufactures and supplies specialty bitumen products including emulsions, polymer modified bitumen (PMB), and crumb rubber modified bitumen (CRMB) for road construction and infrastructure projects. Through its 50:50 joint venture Amron Oil Resources with West Coast Oils LLP, the company operates as the operating partner for Indian Oil Corporation Limited's (IOCL) Pipavav Bitumen Cell in Gujarat, providing bulk bitumen dispatch and specialty bitumen supply chain management services.

Product overview

GP Petroleums is an oil and petroleum company that operates primarily through its manufacturing and supply of bitumen products. The company's core offering consists of specialty bitumen products including emulsions, polymer modified bitumen (PMB), and crumb rubber modified bitumen (CRMB). These products serve India's road and transportation infrastructure sector. The company also operates through a 50:50 joint venture, Amron Oil Resources Private Limited (with West Coast Oils LLP), which has been manufacturing and supplying high-performance bitumen products since 2004 and recently secured a partnership with Indian Oil Corporation Limited (IOCL) to operate the Pipavav Bitumen Cell in Gujarat.

Differentiator

Problem solved

Functional benefit

Products and services

• Specialty Bitumen Products (Emulsions, PMB, CRMB)

Quantifiable outcome

• Specialty bitumen supply improved across Gujarat and neighboring regions
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Amron Oil Resources (50:50 JV with West Coast Oils LLP)coreStrategic or Co-development Partner · 4 June 2026Amron Oil Resources is a 50:50 joint venture between GP Petroleums Limited and West Coast Oils LLP that has been manufacturing and supplying high-performance bitumen products since 2004. The JV serves as the operating partner for IOCL's Pipavav Bitumen Cell, marking a strategic milestone for GPPL and advancing its diversification into value-added infrastructure businesses.
• Indian Oil Corporation Limited (IOCL)coreStrategic or Co-development Partner · 4 June 2026GP Petroleums' JV Amron Oil Resources was selected by Indian Oil Corporation Limited as operating partner for the Pipavav Bitumen Cell in Gujarat. The partnership operates under IOCL's SPRINT 2026 Mission Excellence initiative, leveraging Pipavav's strategic port location to serve large-scale infrastructure projects and enhance specialty bitumen supply across Gujarat and neighboring regions.

Scale indicators5 records

Recent moves4 records

Expansion highlights3 records

Broad incumbents

• Hindustan Petroleum Corporation Limited (HPCL): Major Indian PSU oil refiner producing and marketing viscosity-grade and modified bitumen nationally. Comparable as a vertically integrated refiner with bitumen as part of a broader petroleum product portfolio.
• Reliance Industries Limited: India's largest private sector refiner with significant bitumen production from its Jamnagar complex. Operates as a broad incumbent in the bitumen value chain and competes for institutional infrastructure demand.
• Bharat Petroleum Corporation Limited (BPCL): Indian PSU refiner with bitumen production and marketing capabilities serving road infrastructure. Comparable broad incumbent competing in the same domestic bitumen market across conventional and specialty grades.
• Indian Oil Corporation Limited (IOCL): India's largest oil corporation and GP Petroleums' flagship customer/partner. IOCL produces and markets bitumen nationwide and is the counterparty in the Pipavav Bitumen Cell operating partnership, making it both a critical customer and the most relevant broad incumbent.
• Shell Bitumen (Shell plc): Global leader in bitumen with specialty PMB and emulsions offerings, including activity in India through Shell India. Comparable as a broad incumbent with deeper specialty formulation R&D and international benchmarks.
• Sinopec Bitumen: One of the world's largest bitumen producers via Chinese refining assets, exporting specialty grades globally. Comparable broad incumbent with scale advantages and ability to compete on price in Indian import channels.
• TotalEnergies Bitumen: Global integrated energy major with a dedicated bitumen division offering PMB, emulsions, and warm-mix technologies. Comparable broad incumbent in the specialty bitumen category with presence across emerging markets.

Direct peers

• Tiki Tar Industries (India) Limited: Indian manufacturer of bitumen products and road construction materials including emulsions and modified bitumen. Direct domestic competitor in specialty bitumen formulations serving India's road sector.
• Nynas AB: Specialty bitumen and naphthenic specialty oils producer focused on polymer modified bitumen, emulsions, and pavement technologies. Direct comparable in specialty bitumen formulations and customer/market overlap.

Others

• Cargill Bioindustrial (Bitumen Additives): Supplier of bio-based and polymer additives used in PMB and modified bitumen formulations. Comparable as an ecosystem/enabling player in the specialty bitumen value chain rather than a direct competitor.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/gp-petroleums-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gp Petroleums