Castrol India Q2 Review - Volumes Recover; Margins Resilient: IDBI Capital

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.Castrol India Ltd.’s Q2 CY22 result was above our expectation. Castrol reported a double digit topline growth of 40% YoY to Rs 12,417 million led by both volumes (up 22%) and price increase (up 14%). Volume growth was mainly led by personal mobility and commercial vehicle segments. Ebitda increased by 45% YoY despite rising prices of key inputs indicating Castrol’s pricing power. Its net profit increased by 47% YoY to Rs 2,063 million. The company has declared an interim dividend of Rs 3/share. We make marginal changes to our CY22-CY23 forecasts and expect Ebitda/profit after tax to increase at a compound annual growth rate of 8%/13%, respectively over CY21-23E..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Castrol India Q2 Review - Volumes Recover; Margins Resilient: IDBI Capital

Castrol India Q2 Review - Volumes Recover; Margins Resilient: IDBI Capital

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