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Our Bureau

Hyderabad , Aug. 20

THE Indian lubricants market, the fourth largest in the world with an estimated consumption of 1.4 million tonnes, is growing at about 4 per cent per annum.

The industry turnover at present is over Rs 7,000 crore, according to Mr Rajendra Sah, Executive Chairman Sah Petroleums Ltd (SPL), which manufactures the IPOL brand of industrial and automobile lubricants. Mr Sah told newspersons here on Friday that the industrial sector accounted for 40 per cent of the lubricants market in the country while the remaining 60 per cent market pertained to the automotive sector.

SPL, which is coming out with an initial public offer of 90.9 lakh equity shares, has a 5 per cent share of the industrial lubricants market.

Mr Sah said that SPL began exporting its products from last year, and would open an office in Delhi soon. The company plans to set up more branches in India.

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