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Castrol India: Volume Growth Continues - Views on News from Equitymaster
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Castrol India: Volume Growth Continues
Aug 2, 2016

Castrol India Ltd has announced results for the second quarter of the current year ended December 2016. The company has reported a year on year (YoY) growth of 5.2% in the net sales while net profits for the quarter grew 12.1% YoY.

Performance summary
  • Net sales reported a rise of 5.2% year-on-year (YoY) during the quarter ended June 2016.
  • Operating profit for the quarter grew 14.9% YoY with margins at 32.7% as compared to 29.9% in 2QCY15.
  • Net profit for the quarter grew by 12.1% YoY with net profit margin at 21.4% versus 20.0% in 2QCY15.

    Financial performance snapshot
    (Rs m) 2QCY15 2QCY16 Change (%) 1HCY15 1HCY16 Change (%)
    Net Sales 9,202 9,679 5.2% 17,160 18,200 6.1%
    Other operating income 34 29 68 65
    Total income from operations 9,236 9,708 17,228 18,265
    Expenditure 6,474 6,535 0.9% 12,559 12,540 -0.2%
    Operating profit (EBDITA) 2,762 3,173 14.9% 4,669 5,725 22.6%
    Operating profit margin (%) 29.9% 32.7% 27.1% 31.3%
    Other income 152 173 13.8% 587 360 -38.7%
    Depreciation 94 149 58.5% 205 235 14.6%
    Interest 2 7 250.0% 5 11 120.0%
    Profit before tax 2,818 3,190 13.2% 5,046 5,839 15.7%
    Tax 973 1,121 15.2% 1,734 2,046 18.0%
    Effective tax rate 34.5% 35.1% 34.4% 35.0%
    Net profit 1,845 2,069 12.1% 3,312 3,793 14.5%
    Net profit margin (%) 20.0% 21.4% 19.3% 20.8%
    No. of shares (m) 495 495
    Diluted earnings per share (Rs)* 13
    P/E ratio (x)* 32

    * On a trailing 12-months basis

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