Maximus International to Acquire 40% Strategic Stake in Quebec Petroleum Resources Limited

VMPL
Vadodara (Gujarat) [India], June 24: Maximus International Limited (BSE: 540401), a manufacturer and distributer of automotive, industrial, and speciality lubricants, announced that its Board of Directors has approved a proposal to acquire a 40% equity stake in Quebec Petroleum Resources Limited ("Quebec"), a Vadodara-based company engaged in the manufacturing of lubricants and the distribution of petroleum products. The transaction values the stake at Rs. 18.43 crore, to be settled through cash consideration, and represents the Company's first major step into India's domestic lubricant market.
Strategic Rationale
Maximus International's business has, to date, been anchored in manufacturing & distribution of automotive, industrial, and speciality lubricants, to customers across the Middle East and Africa. The investment in Quebec provides the Company with an established, on-the ground platform in India -- a manufacturing base, a diversified product portfolio and a distribution network refined over more than two decades of serving industrial customers and contractors across the country
About The Target Entity -- Quebec Petroleum Resources Limited
Incorporated on November 21, 2005, Quebec Petroleum Resources Limited is a closely held public limited company based in Vadodara, Gujarat. The company manufactures and markets oils and lubricants across automotive, industrial and speciality applications, and distributes petroleum products. Its operations are supported by advanced manufacturing facilities, in-house R&D, quality assurance systems and technology-driven product development. Quebec reported a turnover of Rs. 184.73 crore for FY2024-25.
Transaction at a Glance
- Target Entity: Quebec Petroleum Resources Limited
- Stake Acquired: 40% of the paid-up share capital
- Consideration: ₹18.43 crore, payable in cash
- Industry: Lubricants manufacturing and petroleum products distribution
- Turnover (FY25): ₹184.73 crore
- Nature of Transaction: Related-party transaction conducted on an arm's length basis
- Regulatory Approvals: Not applicable
- Completion Timeline: As per the terms and conditions of the Share Purchase Agreement (SPA)
Management Commentary
Mr. Dipak Raval, Chairman & Managing Director, Maximus International Limited
"This acquisition is a deliberate step in strengthening our presence in India's lubricants and petroleum products sector -- an area we believe offers durable, long-term demand across the country's automotive and industrial economy. In Quebec Petroleum Resources, we are partnering with a business that has built genuine manufacturing depth, in-house R&D and a diversified product portfolio over more than two decades of operations.
By combining Quebec's domestic capabilities with Maximus International's established presence across the Middle East and Africa, we expect to create meaningful operational and market synergies. Our focus will be on expanding into higher-growth automotive, industrial and specialty lubricant segments while building a scalable platform for long-term value creation."
About Company
Maximus International Limited is a premier manufacturer and distributor of high-performance automotive, industrial, and specialty lubricants. With a precision-engineered portfolio of over 200 products, the Company delivers tailored formulation solutions to highly specialized sectors worldwide, meeting strict technical standards across diverse operating environments. The Company's advanced product range is strategically formulated to serve demanding industrial applications, spanning from textile, specialized refrigeration compressor lubricants, and heavy-duty fluids engineered to withstand the extreme loads of the sugar and mining sectors, alongside premium maintenance fluids for general equipment and manufacturing.
Disclaimer
Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
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