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Growth prospects aside, margin-hit likely in FY 11: Castrol

Castrol India said with the country's economy poised to maintain its growth momentum, the lubricants industry is likely to witness growth from both personal mobility and infrastructure segments.

February 23, 2011 / 08:59 AM IST
 
 
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Castrol India said with the country's economy poised to maintain its growth momentum, the lubricants industry is likely to witness growth from both personal mobility and infrastructure segments.


The lubricants maker, however, warned margins could be impacted due to the expected steep rise in the cost of goods.


"Despite this risk, we remain confident of sustainable growth in our financial performance," Castrol India said in a release here.


The lubricants major has clocked an 18% increase in net sales at Rs 2,734.7 crore for the year-ended December 31 as compared to the previous year, while its PAT grew 28.7% to Rs 490.3 crore.


The company has declared a final dividend of Rs 8 per share. It has already paid an interim dividend of Rs 7 a share. Hence, the total dividend paid for the financial year January-December 2010 is Rs 15 per share, it said.


Both dividends have been paid on the enhanced share capital post-the issue of bonus shares. (The company had allotted in April 2010 bonus shares in the ratio of 1:1).


The total dividend paid for 2009 was Rs 25 per share (which included a special dividend of Rs 10 a share). However, the dividend for 2009 was paid on the old share capital i.e. prior to the issue of bonus shares, the release said.


Castrol India Vice-Chairman Naveen Kshatriya said the firm has delivered yet another set of record results with growth in sales, unit margins and profits.

"The margin improvement has been achieved through a combination of higher sales of premium products and higher unit realisation through strategic pricing actions."

first published: Feb 23, 2011 08:28 am

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