February 24 2016, 18.53 PM IST || Pocket News Alert
Chandigarh, 24 February, 2016: Castrol India Limited today announced its results for the full year/ fourth quarter 2015. For the Full Year 2015, Profit from operations was up by 25.7% to Rs 855.8 crs whilst Profit after Tax was up by 29.7% to Rs.615.2 crores as against Rs.474.5 crores during the same period in the previous year.
Profit from operations during the quarter under review was up by 3.5% at Rs.202.9 crores whilst Profit after Tax at Rs.140.8 crores was up by 6.7% as compared to the same period last year.
The Board of Directors of the company, have at their meeting held on 24 February 2016, recommended subject to the approval of the shareholders of the company, a Final Dividend of Rs. 5.00 per share for the year ended 31 December 2015 (2014: Final Dividend Rs.4.00 per share). In addition, an Interim Dividend of Rs.4.00 per share (2014: Interim Dividend Rs.3.50 per share) was paid on 20 August 2015, both dividends aggregating to Rs.9.00 per share (2014: Rs. 7.50 per share). The final dividend would be paid to those shareholders whose names appear in the Register of Members at the close of business hours on 28 April 2016 and would be payable on 25 May 2016.
Commenting on the results, Omer Dormen, Managing Director, Castrol India Limited, said: “This is an outstanding overall performance, driven by momentum in the personal mobility segment, continued premiumization of our portfolio and judicious margin and cost management.”
Commenting on the personal mobility segment, Omer Dormen said: “We saw strong volume and value growth in our two-wheeler and passenger car engine oil categories during the year under review. Castrol Activ, the growth engine of the two-wheeler segment, continued to deliver exciting results, building on the innovative and successful digital campaign run during the first quarter for the ICC Cricket World Cup 2015 and followed up by innovative and exciting campaigns using traditional as well as new age digital and social media.
In the passenger car segment, the growth was largely delivered through Castrol MAGNATEC which was promoted through a unique micro-marketing programme and the Castrol MAGNATEC mobile units which are now operational in several key markets. The brand delivered strong volume and value growth – especially in the retail and independent workshop channels.
In the commercial vehicle oils, Castrol Vecton launched during the year, has been performing exceptionally well in the market place.”
Commenting on the Industrial part of the business, Mr. Dormen said: “The challenging external environment in the manufacturing sector and increased competitive pressures impacted the overall volume growth in the Industrial segment as well. However, the volume of Castrol’s Industrial ‘focus’ products grew strongly over 2014, driven by our superior technology and enhanced levels of customer service. During 2015, the Industrial business won new orders from major Indian and global OEMs in the wind energy segment and continued to strengthen its position in the Indian market”.
Outlook: The strong results for the year have been achieved in an environment which continues to be challenging for the Commercial Vehicle Oils and Industrial lubricant oils. Looking ahead, although the drop in crude oil price has translated into lower base oil cost, we are likely to experience volatility in the cost of goods due to volatile Rupee exchange rate. In the longer run, we continue to remain optimistic about the Indian lubricant market and our business growth. The company is in a strong position to benefit from growth prospects on account of its strong brands, enduring relationships with key stakeholders and continued commitment of its staff.
(In Rupees Crores)
Year Ended
|
Year Ended
|
Year Ended
|
Q4
|
Q4
|
Q4
|
|
Jan - Dec
|
Jan - Dec
|
% Inc/
|
Oct - Dec
|
Oct - Dec
|
% Inc/
|
|
2015
|
2014
|
(Dec)
|
2015
|
2014
|
(Dec)
|
|
Net Sales / Income from Operations
|
3,298.0
|
3,392.3
|
(2.8)
|
790.9
|
859.3
|
(8.0)
|
Profit Before Tax
|
950.9
|
726.3
|
30.9
|
225.0
|
206.3
|
9.1
|
Profit After Tax
|
615.2
|
474.5
|
29.7
|
140.8
|
132.0
|
6.7
|
