And it is this hegemony that homegrown Lub-rref, which supplies the BNO-brand lubricant, wants to break. Bangladesh’s lubricant industry has been growing at 5 to 7 per cent per annum, according to LankaBangla Securities. Lub-rref, which has more than 85 different product lines of engine oil, generator oil, marine engine oil, automotive gear oil, hydraulic oil, compressor oil, industrial gear oil, machine oil, transformer oil, grease and so on, has performed better vis-à-vis the market leader MJL, which markets the Mobil brand of lubricants in Bangladesh, in recent years. It posted a top-line three-year CAGR of 18.1 per cent in contrast to MJL’s 6 per cent, according to Brac-EPL. In 2019, Lub-rref reported return on equity (ROE) of 6.5 per cent and MJL 13.3 per cent.

Source: Dhaka Tribune January 14, 2021 20:26 UTC