HP Lubricants

What HP Lubricants does

HP Lubricants is the lubricants division of Hindustan Petroleum Corporation Limited (HPCL), a Maharatna Central Public Sector Enterprise and Forbes 2000 company listed on BSE and NSE. Established in 1974, HP Lubricants has held the position of India's largest lubricant marketer since 2013. The company manufactures and markets over 350 grades of lubricants, specialties and greases across more than 1,000 SKUs, serving automotive (two-wheelers, three-wheelers, passenger cars, commercial vehicles, agricultural equipment), industrial (manufacturing, steel, cement, power), marine, defense, railways and agricultural segments. Its portfolio is structured around five product categories — Automotive Oils, Industrial Oils, Specialties, Greases and Marine Oils — with flagship brands including Racer (2/3-wheelers), Milcy (commercial diesel), Neosynth (passenger cars) and Enklo (hydraulic oils).

The technology backbone is HPCL's Mumbai Lube Refinery — the largest in India at 428 TMT capacity, producing over 40% of the country's total Lube Base Oil — supplemented by blending plants at Silvassa and Mazagaon and HPCL's broader refinery network (Mumbai 7.5 MMTPA, Visakhapatnam 8.3 MMTPA, Bathinda 11.3 MMTPA JV with Mittal Energy Investments, and an ~17% stake in MRPL's 15 MMTPA refinery). HP Lubricants holds ISO/IEC 17043:2010 accreditation as a Proficiency Testing Provider, ISO 17034:2016 for Certified Reference Materials traceable to NIST, and operates the only BIS-approved laboratory for biodiesel certification. Distribution is the primary moat: 19 dedicated Lube Regional Offices sit atop HPCL's wider network of 128 regional offices, 3,370+ km of product pipelines, warehouses, Bazaar Lube Distributors, Industrial Lube Distributors and the Star Retailer Program, complemented by HPCL Middle East FZCO in Dubai and appointed distributors across 21+ export markets.

Revenue is generated principally through one-time product sales across these channels, with a B2B enterprise field-sales force targeting OEMs, industrial accounts, Indian Railways (sole approved coolant supplier) and the Indian Army (~40% of defense lubricants), alongside a long-tail retail base. The company also markets the Caltex brand in India under an exclusive partnership with Chevron (Delo manufacturing launched in India in August 2023) and offers TOTAL Lubricants-sourced marine formulations. Recent product strategy has centred on BS VI compliance, an Electric and Hybrid vehicle lubricant range launched in 2023, and the Futur-X ultra-premium synthetic line introduced across multiple viscosity grades in 2024.

Name

HP Lubricants

Legal name

Hindustan Petroleum Corporation Limited

Website

https://hplubricants.in

Company type

Public

Founded year

1974

Operating status

Operating

Headcount range

11–50 employees

Short description

HP Lubricants, the lubricants division of HPCL (a Maharatna CPSE), is India's largest lubricant marketer, manufacturing 350+ grades of automotive, industrial, marine, and specialty lubricants sold across India and 21+ export markets. Serves automotive, industrial, defense, and railways customers.

Ownership category

akta.pro rank

Product category

Industrial Lubricants

NAICS

Petroleum Lubricating Oil and Grease Manufacturing (324191), Petroleum and Coal Products Manufacturing (324), All Other Petroleum and Coal Products Manufacturing (324199), Petroleum Bulk Stations and Terminals (424710)

SIC

Miscellaneous Products Of Petroleum & Coal (2990), Petroleum Refining (2911), Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Lubricant Formulation & Blending (Finished Lubricants) (EUALAJAC)

akta.pro secondary industries

Automotive Lubricants (PCMO, HDMO, ATF, Gear Oils, Coolants) (EUALAJAH), Industrial Lubricants (Hydraulics, Gear, Compressor, Turbine, Metalworking) (EUALAJAG), Base Oil Production & Supply (Group I–V, Re-refined) (EUALAJAA), Greases & Specialty Lubricants (Greases, Pastes, Chain Oils, Silicone/Fluoro) (EUALAJAJ), Marine & Offshore Lubricants (Cylinder Oils, System Oils, EALs) (EUALAJAI)

Keywords

• Engine lubricants
• Industrial lubricants
• Automotive engine oils
• Specialty greases
• Marine lubricants

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices26 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Lubricant Product Sales: HP Lubricants generates revenue through manufacturing and marketing over 350 grades of lubricants, specialties and greases. Products are sold through distribution channels including Bazaar Lube Distributors, Industrial Lube Distributors, and direct sales to industrial customers.
2. Marine Oil Products: Revenue from marine oils including formulations from TOTAL Lubricants partnership, sold through marine distributors and applications for shipping industry.
3. International Exports: Export of lubricants to 21+ countries including Nepal, Bhutan, Bangladesh, Sri Lanka, Myanmar, South Korea, Malaysia, Vietnam, Oman, UAE, Qatar, Kuwait, Bahrain, Kenya, Ghana, Indonesia, Uganda, Thailand, Saudi Arabia, Ecuador and DR Congo. HPCL is the largest exporter among Indian Oil Marketing Companies.

Go-to-market motion3 records

Distribution channels8 records

Marketing channels8 records

Core offering

HP Lubricants manufactures and markets over 350 grades and 1,000+ SKUs of lubricants, specialties, and greases spanning automotive, industrial, marine, defense, and railway applications. The portfolio includes engine oils (Racer, Milcy, Neosynth, FUTUR-X brands), hydraulic/turbine oils (Enklo, Turbinol), specialty fluids (Metaquench, Rolmet, Koolkut), greases, and marine oils. Backed by HPCL's 428 TMT capacity lube refinery producing over 40% of India's lube base oil, the company distributes through 19 regional offices, dedicated Bazaar and Industrial Lube Distributor networks, and international distributors in 21+ countries.

Product overview

HP Lubricants is India's largest lubricant marketer and a division of Hindustan Petroleum Corporation Limited (HPCL), a Maharatna CPSE and Forbes 2000 company. The company operates as a multi-category lubricant platform offering more than 350 grades of lubricants, specialties, and greases spanning over 1000 SKUs. The product portfolio is organized into five main categories: Automotive Oils (engine oils for two-wheelers, three-wheelers, passenger cars, commercial vehicles, diesel engines, and agricultural equipment), Industrial Oils (compressor oils, hydraulic oils, turbine oils, transformer oils, machinery oils, spindle oils, refrigeration compressor oils), Specialties (metal drawing compounds, metal working fluids, quenching oils, rolling oils, rust preventives, thermic fluids, diesel exhaust fluid), Greases (automotive and industrial greases), and Marine Oils. The company also offers the premium FUTUR-X synthetic engine oil brand positioned as its flagship ultra-premium offering. Key flagship brands include Racer (two/three wheelers), Milcy (commercial diesel vehicles), Neosynth (passenger cars), and Enklo (hydraulic oils). Through a partnership with Chevron, HP Lubricants also markets the Caltex premium brand in India.

Differentiator

Problem solved

Functional benefit

Brands

• Racer: Flagship brand for two and three wheelers, including HP Racer, HP Racer 2, HP Racer 4, HP Racer GEN6, HP Racer Skutex, HP Racer Synth variants for geared bikes
• Milcy
• Neosynth
• Enklo
• FUTUR-X
• Turbinol
• Metaquench
• Hytherm
• Koolkut
• Rolmet

Products and services

• Automotive Oils Comprehensive range of engine oils for two-wheelers, three-wheelers, passenger cars, commercial vehicles, diesel engines, and agricultural equipment, including BS VI compliant grades and EV/Hybrid vehicle products. Flagship consumer brands include HP Racer (two/three wheelers), HP Milcy (commercial diesel), and HP Neosynth (passenger cars).
• Industrial Oils Wide range of industrial lubricants including compressor oils, hydraulic oils (Enklo series), turbine oils (Turbinol), transformer oils, machinery oils, spindle oils, and refrigeration compressor oils used by manufacturing, mining, steel, cement, and power generation industries.
• Specialties Specialized lubricants for unique applications including metal drawing compounds, metal working fluids (Koolkut), mould release oils, quenching oils (Metaquench), rolling oils (Rolmet), rubber process oils, rust preventives, thermic fluids (Hytherm), and Diesel Exhaust Fluid (HP DEF).
• Greases High performance greases for automotive and industrial applications including automotive greases, industrial greases, EP (extreme pressure) greases, and specialty greases for various bearing and machinery applications.
• Marine Oils

Quantifiable outcome

• Up to 5% improvement in fuel consumption with energy efficient hydraulic oils
• +2 more outcomes

Named customers13 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Twelve partnerships are on record, tiered flagship, core and minor.

• Caltex (Chevron subsidiary)flagshipOEM/ Whitelabel/ Licensing Partner · 10 August 2023HPCL joined forces with US major Chevron to manufacture and market Chevron's renowned Caltex brand of premium and proprietary lubricants in India. Caltex has over 80+ years of excellence since 1936. On 10th August 2023, Caltex Lubricants established its first manufacturing unit of the Delo brand in India through this partnership with HPCL. HPCL gained exclusive rights to Caltex brand in India market.
• TOTAL LubricantscoreTechnology or IntegrationTOTAL Lubricants provides marine oil formulations to HPCL for marine applications including Atlanta Marine D 3005, Aurelia TI series, Disola M series, TALUSIA HR 70, and TALUSIA UNIVERSAL products marketed under HP Lubricants brand.
• Mittal Energy Investments Pte. Ltd.coreStrategic or Co-development PartnerHPCL operates an 11.3 MMTPA capacity refinery at Bathinda in collaboration with Mittal Energy Investments Pte. Ltd. with 48.99% equity ownership. This partnership provides additional refining capacity and market presence.
• Mangalore Refinery and Petrochemicals Ltd. (MRPL)minorStrategic or Co-development PartnerHPCL holds approximately 16.95% equity in MRPL which has 15 MMTPA capacity refinery. This is a strategic investment partnership in the petroleum refining sector.
• AL NABOODA AUTOMOBILES LLCcoreChannel Partner/ Reseller/ DistributorAL NABOODA AUTOMOBILES LLC is the distributor of HP Lubricants in UAE with locations at Sheikh Zayed Road and Dubai Industrial City.
• National Gas Company SAOGcoreChannel Partner/ Reseller/ DistributorNational Gas Company SAOG distributes HP Lubricants in Oman from Rusayl, Sultanate of Oman.
• Petromin CorporationcoreChannel Partner/ Reseller/ DistributorPetromin Corporation is the authorized distributor for HP Lubricants in Saudi Arabia based in Jeddah.
• AI Baraka International For Oil Trading Company SPCcoreChannel Partner/ Reseller/ DistributorAI Baraka International distributes HP Lubricants in Kuwait from their office in Qibla, Kuwait City.
• IIT Bombay Students (EVoX Electric Race Car)minorStrategic or Co-development PartnerHP Lubricants partnered with students of IIT Bombay as lubricant partner for 'EVoX', the electric race car developed for Formula Student 2018. HP Lubricants provided Transmission Oil & Brake Fluid for the project.
• Indian ArmyflagshipChannel Partner/ Reseller/ DistributorHP Lubricants is the largest lubricant supplier to the Indian Army. The company installed a Petroleum Products Testing cum Training lab at Army Services Corps Centre & College Bengaluru and handed over mobility aids to the army. HP Lubricants is the only approved supplier for coolant to Indian Railways.
• CSIR-NPL (National Measurement Institute of India)coreStrategic or Co-development PartnerHPCL jointly with CSIR-NPL developed primary reference standards for use in the field of petroleum as part of NMI Standards initiative.
• Sulabh InternationalminorStrategic or Co-development PartnerHP Lubricants collaborated with Sulabh International to provide toilets in economically backward areas as part of CSR initiative 'A Healthier India'.

Scale indicators15 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• Bharat Petroleum (MAK Lubricants): BPCL's MAK Lubricants is another Indian PSU-owned lubricant marketer with pan-India distribution and a full automotive/industrial portfolio. Direct competitor in retail engine oils and industrial segments with similar BLD/ILD channel structure.
• Castrol India: Castrol India is a BP subsidiary and the leading premium lubricant brand in India across automotive and industrial segments, directly competing with HP Lubricants in engine oils, greases, and specialties. Closest comparable in Indian lubricant marketing scale and product breadth.
• ExxonMobil India: ExxonMobil's Mobil 1 and Mobil industrial brands compete with HP's premium synthetic (FUTUR-X) and specialty industrial lubricants. Comparable in synthetic technology leadership and global OEM relationships.
• Shell India (Shell Lubricants): Shell Lubricants India is a major global major with strong premium positioning (Shell Helix, Rimula) competing directly with HP's Racer, Milcy, and Neosynth brands. Comparable in synthetic engine oil technology and B2B industrial offerings.
• Tide Water Oil (Veedol): Veedol (formerly Tide Water Oil) is a long-established Indian lubricant marketer with automotive and industrial portfolios. Comparable in heritage, Indian distribution footprint, and product breadth.
• Gulf Oil India: Gulf Oil India is a Hindustan Media Ventures group company and one of India's pure-play lubricant marketers with strong presence in two-wheeler and aftermarket segments. Direct competitor in retail engine oils with similar distribution model.
• Indian Oil Corporation (Servo Lubricants): Indian Oil's Servo brand is a direct domestic PSU competitor to HP Lubricants, offering automotive, industrial and marine lubricants across India. Competes head-to-head in defense, railways, and B2B industrial accounts as fellow Maharatna CPSE.
• TotalEnergies India: TotalEnergies India markets automotive and industrial lubricants in direct competition with HP Lubricants; also a technology partner to HP for marine oils (TOTAL Lubricants marine formulations). Comparable product breadth across automotive and industrial.
• Savita Oil Technologies: Savita Oil Technologies is an Indian specialty lubricant and transformer oil manufacturer with focus on industrial and electrical applications. Comparable in specialty products, transformer oils, and industrial customer base in India.

Broad incumbents

• Petronas Lubricants International: Petronas Lubricants is a global major with broad automotive and industrial portfolios; competes with HP Lubricants in selected export markets and through OEM partnerships. Comparable as broad incumbent with similar end-market exposure but global rather than India-centric scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hplubricantsfromhpcl

Compliance3 records

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 HP Lubricants