Ravi Kirpalani – Managing Director, Castrol India Limited says Q3 profit was higher largely due to higher volume and improved unit gross profit over last year. Strong performance is fuelled by continued momentum in the personal mobility segment that has shown positive growth these past few quarters owing to Castrol Activ in the two-wheeler segment, and Castrol Magnatec in passenger car segment.< Castrol India third quarter net up 13% at Rs.117.9 crores
Industrial business continues to show a positive trend. Manufacturing and industrial production in India during 2014 Q1, Q2 and Q3 reports sluggish growth, but Castrol’s Industrial business has shown both volume and Gross Margin growth over the same 3 quarters in 2013.
In the last quarter, Castrol Professional range of CO2 neutral engine oils in passenger car workshops was launched. Castrol CRB Mini Truck engine oil for medium and light commercial vehicles was launched too. Castrol is valued as the 15th most valuable brand across categories in India in the BrandZ study by Millward Brown.
Castrol India has opened a Liquid Engineering Centre at the Maruti Suzuki India Limited (MSIL) Plant in Gurgaon. The Centre will train employees, vendors, dealers and mechanics associated with MSIL. Castrol has worked with Maruti to co-engineer and launch a fuel efficient lubricant for diesel engines. A partnership with Tata Motors has resulted in co-engineering a fuel efficient engine oil for Tata Motors’ new Zest car with the Revotron engine.
Castrol India has acquired new business with several customers in the Wind Energy sector through its range of Optigear synthetic oils. Rust preventive Castrol Mid Flash RP was launched for the Tube Industry for cost saving to customers. Global softening of crude oil prices should help lower base oil costs. Rupee continues to remain volatile, and commercial vehicle business continues to remain challenging here. Castrol is optimistic about Indian lubricant market and business growth in the long run.
Castrol India third quarter net up 13% at Rs.117.9 crores
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