Q2 2024 Castrol India Ltd Earnings Call Transcript
Key Points
- Castrol India Ltd (BOM:500870) reported a 5% year-on-year increase in revenue for 2Q 2024, reaching INR1,398 crores.
- Profit before tax for 2Q 2024 rose by 3% year-on-year to INR314 crores.
- The company declared an interim dividend of INR3.5 per share, reflecting a 16.7% increase from the previous year's interim dividend.
- Castrol India Ltd (BOM:500870) launched three new variants of Castrol EDGE and expanded its Auto Care range, enhancing its product portfolio.
- The company inaugurated a state-of-the-art India Technology Center at Patalganga to boost innovation and development, including advanced testing capabilities for EVs.
- Despite the strong financial performance, the company faces uncertainties in the stabilization of input costs, which could impact future margins.
- The data center cooling fluids project is still in its early stages, making it difficult to predict potential revenue from this initiative.
- The company's pricing strategy maintains a premium over the market, which could limit its competitiveness in lower segments.
- There is a potential risk of reduced lubricant usage in EVs compared to ICE vehicles, which could impact future volumes.
- The company has not provided specific guidance on future dividend or bonus decisions, leaving shareholders uncertain about potential returns.
Ladies and gentlemen, welcome to our 2Q FY 2024 earnings conference call for Castrol India Limited. (Operator Instructions)
Also please note that this conference call may contain certain forward-looking statements, which are based on the beliefs, opinions and expectations of the company as on the date of this call. These statements are not the guarantee of future performance and involve risks and uncertainties, which are difficult to predict. We have with us Mr. Sandeep Sangwan, Managing Director, Castrol India Limited; and Mr. Deepesh Baxi, CFO and Whole-time Director, Castrol India Limited. I now hand the conference over to Mr. Sangwan for his remarks.
Good afternoon, everyone. Thank you for joining Castrol India second quarter and first half 2024 earnings call. This is Sandeep Sangwan. I hope you and your families are in good health and doing well. We're delighted to announce the strong growth that Castrol India Limited achieved in the second quarter of 2024. Please note that
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
