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  5. Castrol India Limited reports first quarter results for 2022

Castrol India Limited reports first quarter results for 2022

  • Resilient growth and performance in the January to March quarter
  • Continued revenue growth in 1Q 2022 amidst inflationary and supply pressures

Mumbai, 2 May 2022: Castrol India Limited (BSE: 500870; NSE: CASTROLIND) has announced its results for the first quarter ended 31 March 2022. The Company follows
a calendar year basis (January to December) for its financial reporting.

 

For the first quarter (1Q) ended 31 March 2022, the Company registered Revenue from Operations of ₹1,236 Crores, registering a growth of 9% compared to ₹1,139 Crores in 1Q 2021. Profit Before Tax for the quarter stood at ₹311 Crores, compared to ₹332 Crores in 1Q 2021.

 

Commenting on the quarterly results, Sandeep Sangwan, Managing Director, Castrol India Limited, said, “Continuing our growth momentum from 4Q 2021, Castrol India delivered a strong performance in 1Q 2022, achieving double-digit growth in volumes, revenues, gross profit and profit before tax, marking a significant growth over the previous quarter. Despite a brief impact from the third wave of Covid-19 in January, business operations resumed normalcy and 1Q 2022 witnessed a good resurgence in demand. While inflationary and supply side pressures continued to be high, Castrol India was able to serve its customers’ needs by leveraging its strong distribution network and supplier relationships.

 

Key highlights of 1Q 2022 included:

  • Expanded our Castrol Auto Service (CAS) network to 116 multi-brand passenger car workshops in 50+ cities across India.
  • Expanded presence of Castrol Express Oil Change outlets in Jio-bp mobility stations across India, bringing the total count to 38. These outlets offer two-wheeler consumers swift and reliable oil change on the go.
  • BYD India approved the use of Castrol fluid for its first all-electric MPV in India.
  • Castrol Super Mechanic Contest 2021-22 culminated with the winners being announced at a ceremony graced by the Hon’ble Minister for Education, Skill Development & Entrepreneurship, Shri Dharmendra Pradhan. The contest engaged 140,000+ independent auto mechanics across India and offered them with advanced technical training in partnership with the Automotive Skills Development Council.

 

Note to editors

Summary of CIL financial results and comparison to last year

*Please note CIL follows a calendar year basis (January to December) for financial reporting