Rays Power Infra announced closure of INR 127 Crore Equity Capital Fund Raise - "Mother's Embrace" A Photography Exhibition will be displayed by Renowned Photographer Devendra Naik at Jehangir Art Gallery in Mumbai - DAM Capital Advisors collects Rs 251 cr from Anchor Investors - Blackstone backed Ventive Hospitality Limited raises ₹ 719.55 Crores from 26 anchor investors at the upper end of the price band at ₹643 per equity share - The Inventurus Knowledge Solutions Limited listing ceremony held at NSE today - “ENCOUNTER WITH THE MOMENT” An Exhibition of Photographs by Gurdeep Dhiman at Jehangir Art Gallery in Mumbai - VENTIVE HOSPITALITY LIMITED ANNOUNCED ITS Rs. 16,000 MILLION INITIAL PUBLIC OFFERING (IPO) TO OPEN ON FRIDAY, DECEMBER 20, 2024 Sets Price Band fixed at Rs. 610 to Rs. 643 per equity share of face value of Rs. 1 each - Dr Agarwals Eye Hospital, Chembur, launches advanced laser system for precise and bladeless corneal surgery, Renowned actress Saiee Manjrekar inaugurates the state-of-the-art WaveLight FS200 Femtosecond Laser System - DAM Capital Advisors Limited announced its initial public offering (IPO) to open on Thursday, December 19, 2024 Sets Price Band fixed at ₹ 269/- per equity share to ₹ 283/- per equity share of the face value of ₹2 each - TRANSRAIL LIGHTING LIMITED ANNOUNCED ITS INITIAL PUBLIC OFFERING (IPO) TO OPEN ON THURSDAY, DECEMBER 19, 2024 Sets Price Band has been fixed at ₹ 410.00 to ₹ 432.00 per equity share, of face value ₹2 each - CONCORD ENVIRO SYSTEMS LIMITED ANNOUNCED ITS INITIAL PUBLIC OFFERING (IPO) TO OPEN ON THURSDAY DECEMBER 19, 2024 Sets Price Band fixed at ₹ 665 to ₹ 701 per equity share of face value of ₹5 each

Castrol India announces 1Q 2021 (January to March) results, Robust financial delivery in 1Q 2021

Mumbai, 26 April 2021 (GNI): Sandeep Sangwan, managing director, Castrol India Limited:

Castrol India Limited reported a strong financial delivery in 1Q 2021 building on a resilient second half performance for FY 2020. We delivered robust revenue and profit growth with 1Q revenue from operations @ INR 1139 crores (66% higher) and 1Q Profit Before Tax @ INR 332 crores (96% higher) versus 1Q 2020 which saw the onset of the Covid-19 pandemic and resultant business slow down beginning March 2020.

Focused investments, interventions and actions taken in the second half of 2020 towards brand building with increased marketing and advertising spends, new product introductions as well as corrective pricing have yielded a positive impact on overall topline growth. This has been aided by improving demand trends especially in tractor and SUV sales in 1Q 2021.

Strengthening our network and expanding our footprint, as well as building our participation in digital market platforms, we entered into a strategic collaboration with ki Mobility Solutions Private Limited to supply lubricant products to ki Mobility workshops in India and also be available on goBumpr, their digital platform.

Our cost efficiency programmes and judicious working capital management efforts led to healthy cash from operations @ INR 269 crores in the quarter, which is equivalent to 1.1 times of Profit After Tax.

While we continue to focus on fundamental building blocks to deliver sustainable profitable growth keeping safety of our teams as our top priority, our plants continued to operate safely deploying Covid-19 safety processes and guidelines as laid out by local governments. Our Patalganga plant won recognition from the National Safety Council for the second consecutive year for its strong safety performance.

The second wave of the Covid-19 pandemic in India is resulting in a market slowdown in various parts of the country. In addition, supply disruptions on account of base oil and raw materials availability, logistics challenges and rupee depreciation are likely to adversely impact demand and supply. The management is keeping a close watch on the situation and responding with appropriate actions as needed, stated in the press release.

About Castrol India is one of the world’s leading lubricant brands and has a proud heritage of innovation and fueling the dreams of pioneers. Castrol India Limited is one of India’s leading lubricants companies with iconic brands such as Castrol CRB, Castrol GTX, and power brands like Castrol Activ, Castrol MAGNATEC and Castrol VECTON being the brand of choice for millions of consumers and customers across the country. The company also has a presence in select segments like High Performance Lubricants and metalworking fluids used in a wide variety of industries such as automotive manufacturing, mining, machinery and wind energy.
Castrol India has a large manufacturing and distribution network in India with three blending plants and a distribution network of 350 distributors who reach consumers and customers through over 100,000 retail outlets. In addition, Castrol sub-distributors reach additional outlets in rural markets while the company also directly services over 3,000 key institutional accounts.
Along with providing world class products and services, Castrol India focuses on and prioritizes safety, compliance and quality.
For more visit www.castrol.co.in.ends

Be the first to comment on "Castrol India announces 1Q 2021 (January to March) results, Robust financial delivery in 1Q 2021"

Leave a comment

Your email address will not be published.


*