Maximus International Limited (BSE: 540401), a manufacturer and distributor of automotive, industrial, and specialty lubricants, has announced that its Board of Directors approved a proposal to acquire a 40% equity stake in Quebec Petroleum Resources Limited. The transaction is valued at Rs 18.43 crore, to be settled through cash consideration. This marks the company's first major step into India's domestic lubricant market.
Strategic Rationale
Maximus International's business has historically been focused on manufacturing and distributing 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, including 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 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 specialty 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 Details
- Target Entity: Quebec Petroleum Resources Limited
- Stake Acquired: 40% of the paid-up share capital
- Consideration: Rs 18.43 crore, payable in cash
- Industry: Lubricants manufacturing and petroleum products distribution
- Turnover (FY25): Rs 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 of Maximus International Limited, said, "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."
He added, "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 Maximus International Limited
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 and specialized refrigeration compressor lubricants to heavy-duty fluids engineered to withstand extreme loads in the sugar and mining sectors, alongside premium maintenance fluids for general equipment and manufacturing.
