The most striking thing about our brand ambassador Sachin Tendulkar is
his enduring Passion for Performance. Sachin has consistently
delivered for many years, especially under extreme pressure situations.
I see a great parallel in Castrol India, which is also driven by a
passion to perform. Your Company has delivered consistently even in
Castrols sponsorship of the ICC (International Cricket Council) is a
logical next step in its ongoing association with cricket. This
association started with the Castrol Awards for Cricketing Excellence
about 12 years ago. We believe that our strong association with
cricket will help us engage and build an even deeper bond with millions
of new vehicle owners coming into the Indian market year after year.
Despite the multifold increase in raw material costs in recent years
and increased competition, your Company has grown handsomely, through
its strategic focus on the profitable and growing segments of the
Automotive and Industrial Lubricants. We have achieved this by
delivering continuous innovation in products, distribution and customer
relationships. This has required unflinching investment in the brand,
technology and our people.I am pleased to say that in the last five
years, your Company has nearly quadrupled its Profit Before Tax to
Rs.738 crores in 2010, clocking a CAGR of 33%.
Your Company continues to deliver relative best-in-class performance
compared to its peers in the industry and beyond, in consumable
categories. I attribute this entirely to the passion of our employees
and partners. Today Castrol India is by far the leading BP lubricant
operation in Asia & Pacific, the largest Region in the world. It is
also the second largest country in the BP lubricants business
worldwide. A centre of excellence, Castrol India has contributed
significantly to BPs global lubricant business with best practices,
unique insights and a pool of talent.
In recent years, Castrol Indias market capitalization has
leap-frogged, rewarding its stakeholders with attractive total returns,
in a sustained manner. Simultaneously, your
Company has also successfully worked towards making the business
accident-free and a great place to work.
Although your Companys success is rooted in being proactive in the
fast changing world of automotive technology and customer needs, the
pace of change is accelerating faster. Going forward, we will need to
anticipate the future and be ready with solutions, even before the
customer asks for them. To keep winning in tomorrows world, we will
need to be even more proactive, customer centric, contemporary and
innovative. Innovation is in your Companys DNA and I am confident that
this will keep us ahead and winning.
As the great Indian opportunity continues to unfold, Castrol India will
be ready to seize the possibilities in the lubricant category. In doing
so, we will draw on Castrols global scale, technology and knowledge
base and our proven skill of doing what is right for our local market
Our success has been singularly possible because of our people who are
passionate about your Companys success and more importantly, the
success of our customers - that is our winning mantra!