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Castrol India Ltd.’s Q1 CY22 volumes have been above our estimates at 59 thousand kilo litre. Realisation was at Rs 209.4/litre.
Income elevated by 8.5% YoY and by 13.3% QoQ due strategic market actions and development from agri sector.
Castrol India goals for double the market development yearly. Gross spreads elevated by 4.5% on a YoY foundation and have been flat on a sequential foundation.
The corporate is taking pricing actions as and when required and can take mandatory steps to maintain value in management.
They’ve cumulatively taken value hike between Rs 12- Rs 20 in several segments to mitigate the rising enter value.
Value per litre improved by 21.1% on a YoY foundation and was flat sequentially. Gross margins contracted to 50.2% YoY.
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