Gulf Lloyds (India) IPO

Incorporated in 2014, Gulf Lloyds (India) is an inspection, auditing, testing, certification and compliance services company that mainly provides independent third-party quality assurance services to government bodies, public sector undertakings and private companies.

The company operates from its registered office in Ahmedabad, Gujarat, and serves customers across infrastructure, oil & gas, engineering, manufacturing, energy and industrial sectors. The company helps its client ensure that their products, equipment, projects and processes comply with technical specifications, quality standards and regulatory requirements.

Gulf Lloyds (India) undertakes third-party inspection assignments both in India and overseas through contractual arrangements. The company deploys qualified engineers, inspectors and auditors to inspect materials, equipment, construction works and industrial facilities, and submits independent reports to clients. Gulf Lloyds has executed projects across India as well as countries such as the USA, UAE, Sudan, South Sudan, China, Singapore, Germany, the UK, Egypt, Jordan and Panama.

Inspection remains its core business and follows internationally accepted ISO/IEC 17020 standards. The company is also accredited by the National Accreditation Board for Certification Bodies (NABCB) and empanelled with the Petroleum and Natural Gas Regulatory Board (PNGRB) for carrying out inspection and audit assignments in the oil and gas sector. In FY26, 90.86% of total operating revenue was generated from inspection, followed by certification (4.23%), verification (3.40%), auditing (1.47%) and training (0.04%). India contributed 99.37% of revenue, while international assignments contributed 0.63%. Gujarat was the biggest market with nearly 40% of revenue, followed by Maharashtra, Kerala, Uttar Pradesh and Delhi in FY26. The largest customer contributed 21.67% of revenue from operations, while the top ten customers contributed 73.93% in FY26.