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How is Castrol placed, post the de-rating of the sector?

Castrol enjoys a 20 percent market share and personal mobility accounts for around 45 percent of the total volume sold

June 22, 2022 / 10:18 AM IST
How is Castrol placed, post the de-rating of the sector?

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Castrol’s (CMP: Rs 102.25; MarketCap: Rs 10,159 crore) revenue growth for the March quarter beat Street expectations, led by a 14.6 percent sequential jump in volumes and higher realisation per litre. Castrol's margins, too, improved sequentially but fell around 6 percentage points over 1QCY21. March-quarter performance Castrol's revenue grew 13.3 percent sequentially and 8.5 percent over 1QCY21, driven by growth in volumes and improved realisation. Strong demand pushed up volume sold by 14.6 percent sequentially to 59 million litres. Gross margin expanded...

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