News: Castrol India's revenue increased 39.6% YoY to Rs 1241.7 crore in Q2CY22. Gross margin was Rs 612.9 crore against Rs 444.7 crore in Q2CY21 while EBITDA was up 44.9% YoY to Rs 286.1 crore. PAT stood at Rs 206.3 crore, up 47.3% YoY. The company announced interim dividend of Rs 3/share.
Views: While we await more clarity on sales volume, revenue growth YoY was driven by higher realisation as well as volume as Q2CY21 results were impacted by second wave of Covid-19. On QoQ basis, the management stated that volume and margins were under pressure in Q2CY22. Maintaining balance between volume growth and margins will be important going ahead as raw material costs are likely to be at elevated level in near term.
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