Castrol India saw good growth in revenue and margins in Q2 as goods and services tax (GST) headwinds seems to be behind for the company. In an interview to CNBC-TV18, Omer Dormen, MD of Castrol India spoke about the results and his outlook for the company.
Dormen said that personal mobility segment saw double-digit growth. However, industrial and heavy duty and segment saw some pressure.
Saw a fair amount of challenges last year due to GST and demonetisation, he said.
Talking about sales, he said we are seeing strong signs of recovery now in both personal mobility as well strong vehicle sales in the commercial vehicle (CV) sales but manufacturing sector continues to face some headwinds.
According to him, crude price between USD 60/bbl and USD 65/bbl is a bit of a concern.
In Q2 we saw a spike in base oil prices and took a price increase in the first half, said Dormen.
He further said that we do not see any price increases in the pipeline.
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