Castrol India Ltd share Price Today

Castrol India, a subsidiary of BP, operates in the lubricants business and caters to automotive and industrial segments.

• Automotive segment volumes contribute 80-85% of total sales volume
• Castrol has high pricing power and commands premium for its products

Q2CY22 earnings were driven by higher volume as well as realisation YoY.

• Revenue was up 39.6% YoY to ₹ 1241.7 crore, driven by higher volume (on a lower base) as well as realisation
• Gross margins were up ~11% YoY to ₹ 109.5/litre, on account of higher realisation. EBITDA/litre was at ₹ 51.1/litre, up ~16% YoY leading to EBITDA of ₹ 2861.1 crore, up 44.9% YoY 
• Subsequently, PAT increased 47.3% YoY to ₹ 206.3 crore

Oil Marketing & Distribution company Castrol India announced Q4CY23 & CY23 results:

• Q4CY23
  • For Q4, from October to DecemberCY23, the Company registered Revenue from Operations of Rs 1,264 crore, achieving a growth of 7% over Rs 1,176 crore in Q4CY22.
  • Profit Before Tax for Q4CY23 stood at Rs 324 crore, marking a gain of 31% from Rs 248 crore in Q4CY22. The Profit After Tax for Q4CY23 stood at Rs 242 crore, registering a growth of 25% from Rs 193 crore in Q4CY22.
• CY23:
  • For CY23, the Company registered Revenue from Operations of Rs 5,075 crore, recording a strong growth of 6% over Rs 4,774 crore in CY22.
  • Profit Before Tax for CY23 stood at Rs 1,181 crore, marking a growth of 8% from Rs 1,093 crore in CY22.
  • The Profit After Tax for CY23 stood at Rs 864 crore, making a growth of 6% from Rs 815 crore in CY22.
• The Company’s Board of Directors recommended a final dividend of Rs 4.50/- per equity share of the face value of Rs 5/- each for the financial year ended CY23 subject to approval by the Shareholders at the 46th Annual General Meeting. This takes the total dividend for CY23 to Rs 7.5/- per share.

Commenting on the annual performance and Q4CY23 results, Sandeep Sangwan, Managing Director, Castrol India, said, “In CY23, we navigated strategic landscapes with precision, driving robust top-line and bottom-line growth by deftly balancing volume, margin, and unwavering cost management. Our bonds with the trucking community, auto dealers, and consumers strengthened, fueled by the triumph of the #BadhteRahoAagey campaign—an anthem of empowerment for the trucking sector. Pragati Ki Paathshaala, our ongoing on-ground initiative, aspires to be the heartbeat of skill development and entrepreneurship among truckers nationwide.”

“In the realm of two-wheelers, Castrol POWER1's 'India’s ULTIMATE Motostar' sought to discover the nation's top motorsports talent. As for four-wheelers, our Castrol Auto Service centers, now totaling 450 , provide reliable service across India. Expanding our reach into rural Bharat, we enhanced product availability to 32,000 outlets deep in the hinterland. The launch of our auto care products gained momentum, now accessible in 21,000 outlets and embraced by trade and consumers alike. Direct consumer outreach, especially through e-commerce platforms, has yielded a positive impact,” he added.

Deepesh Baxi, Chief Financial Officer, Castrol India, shared his thoughts on how he sees the next year panning out. “In 2024, we will boldly navigate through challenges and capitalise on opportunities. Despite economic uncertainties, we see steady inflation and a positive shift in consumer confidence. Our focus on resilient manufacturing remains unwavering, with a keen eye on global risks. We move ahead with confidence, investing in our brands and innovations. Castrol is well-positioned to thrive, embracing smart factories and adapting to evolving market trends.”

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