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Three Charts on One of the Quickest Bull Markets in History podcast

Jul 3, 2020

How to come out stronger on the other side of this quick bull market.

Pidilite: Buoyancy tapered by 'crude' jolt

Nov 5, 2004

Adhesives and sealants major, Pidilite, reported a strong 18.5% topline growth during the September quarter. However, pressure on operating margins led to the company reporting only 10% bottomline growth. On a half yearly basis, the company reported nearly 17% topline and over 12% bottomline growth.

Castrol: A new chapter

Oct 21, 2004

Private sector lubricants major, Castrol has announced results for the third quarter of FY05, reporting 8% and 9% YoY growth in topline and bottomline respectively. Operating margins have witnessed an improvement of 60 basis points.

Castrol: Slippery road ahead

Apr 2, 2004

Castrol India is a leading private sector lubricant major with a market share of 20%. However, over the past few years, the company's topline growth has been stagnating (growth of a mere 1.5% in FY04). The company's operating margins have reduced by 14% while the bottomline has suffered by 10% YoY.

Castrol: Same old story

Oct 24, 2003

Lubricants major, Castrol, has reported a nearly 4% topline growth during the September quarter. However, at the net profit level, the company continues to be hit and has reported a disappointing 27% decline during the quarter.

Castrol: Raw material blues

Jul 29, 2003

Castrol India announced its second quarter results today. The company reported a 4% growth in the topline while its bottomline has taken a hit of 6%. On a half yearly basis the topline was up marginally whereas the bottomline improved by about 4%. We take a detailed look at the results.

Castrol: Tough road ahead

Jul 10, 2003

Castrol India is one of the leading players in the lube oil industry. The lube oil industry is divided into two categories, the bazaar segment and the retail segment. By bazaar segment, we mean lube oils available at non-petrol pump outlets. Retail segment encompasses lube oil available at petrol pumps.

Castrol: Growth slowing down

Apr 16, 2003

The first quarter results of Castrol India limited for FY04 has seen the topline rise by 2.5% while the bottomline has risen by a better 9%. Growth in bottomline was mainly on account of improvement in the operating margins of the company. Operating margins have improved by 170 basis points. Bottomline growth has been further precipitated by a 36% rise in other income.

Castrol: Auto upturn gives breather

Nov 26, 2002

The lubricants industry contracted in the past two fiscals with downturn in the auto industry and better engine technology, road infrastructure & lubricants. Pressure on players intensified with increase in competition. Having said that, Castrol India Ltd. (CIL) has managed to reverse the slide in revenues registered in the past two quarters.

Castrol: Makes a comeback?

Jul 23, 2002

In our flash report, we stated the performance of Castrol (India) Ltd. (CIL), prima facie, looked impressive. We held back analysis, as the numbers were much above expectations. That said, the topline continues to face challenges but benefits have accrued at the operating profit level with key cost heads registering declines. We had estimated gains from lower base oil prices.

Castrol: It's the industry

Jul 13, 2002

Considered to be the pioneer of the bazaar segment, Castrol India Ltd. (CIL) revolutionised the way lubricants are bought in India. The company successfully transformed lube-buying behaviour from petrol pumps to a more effective parallel channel including garages, service stations and auto spare part shops.

Energy Sources: Slippery times

Jul 13, 2002

On liberalization of the economy, like in most industries, foreign multinationals, attracted by the emerging market characteristics, made a beeline for the Indian lubricants industry. Experiencing saturation in home markets, it seems, any growth story was worth testing. Besides a few, most MNCs are unlikely to have had a memorable experience.

Castrol: Not out of the woods

Jul 10, 2002

Over the past week, Castrol India Ltd. (CIL) has been heating up on the bourses. The scrip has increased by an estimated 5% to touch Rs 200 levels. With decanalisation of base oils and decontrol in sale of auto lubricants during the nineties, private sector companies experienced respectable growth. However, over the past two years the industry has experienced challenging times.

Castrol: Tata BP effect

Jun 21, 2002

We had covered the annual results of Castrol India Ltd. (CIL), which were declared on February 1, 2002. However, results were excluding amalgamation effect of Tata BP Lubricants India Ltd. With the Bombay High Court approving the scheme of amalgamation, effective from January 1, 2001, the company has presented the amalgamated result for FY02.

Castrol: Waiting for a silver lining

Apr 24, 2002

The weather has not cleared for Castrol India Ltd., as it continues to operate in a tough business environment. Earnings growth of the company has been fluctuating over the past four quarters. Sales have declined in 1QFY03 which could indicate that the industry continues to sputter.

Castrol: Doing the basics right

Feb 1, 2002

The lubricants market over the past twenty four months has faced challenging times. In FY01, the size of the pie contracted by an estimated 10%. Castrol India Ltd. (CIL) has indicated that it expects the automotive lubes sector to grow by only 2.5% p.a over the next four years. Considering this background, the company has managed to post relatively impressive topline growth. In FY01, net sales grew by less than 1%.

Castrol: Still in the woods

Oct 29, 2001

The difficulty in the lubricants industry is evident with topline of the company registering marginal growth for the quarter ended September '01. This is significantly lower than the 6.3% topline growth posted for the first half of the current financial year. In the previous fiscal the lubricants industry reported a de-growth of 10%. Castrol (India) Ltd. expects the automotive lubes segment to grow by 2.5% p.a.

Mergers: The only survival route

Oct 12, 2001

Merger - It's the most talked about term today creating lot of excitement and speculative activity in the markets. With the turmoil in the equity markets, 'takeovers', 'open offers', 'buybacks' and 'acquisitions' are some of the terms, which are making the noise in the markets. But before Mergers & Acquisitions (M&A) activity speeds up, it has to actually pass through a long chain of procedures (both legal and financial), which at times delays the deal.

Energy: Friction fights lubricants

Oct 10, 2001

The screws have been tightening over the lubricants market over the past eighteen months. The industry witnessed an estimated de-growth of 12% in FY01. This sluggish performance has continued into the current fiscal.

Castrol: SEBI protects investor interest

Sep 12, 2001

The Castrol stock has climbed 13% in the last three months whereas the BSE Sensex has declined by 9.9% in the same period. The stock has jumped by 24.6% since August 1, 2001. This is due to the Mumbai High Court ruling in favour of the Securities Appellate Tribunal (SAT). In fact, the SEBI has ordered BPAmoco & Castrol U.K to pay interest for the delay in carrying out the buyback.

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