CASTROL INDIA Announces Quarterly Results (3QFY19); Net Profit Up 7.7%

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CASTROL INDIA Announces Quarterly Results (3QFY19); Net Profit Up 7.7%
Fri, 1 Feb

CASTROL INDIA has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

CASTROL INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m9,7039,26910,33411.5%6.5%
Other incomeRs m16418625637.6%56.1%
TurnoverRs m9,8679,45510,59012.0%7.3%
ExpensesRs m6,6376,9957,1602.4%7.9%
Gross profitRs m3,0662,2743,17439.6%3.5%
DepreciationRs m1031351468.1%41.7%
InterestRs m6-23-50.0%
Profit before taxRs m3,1212,3273,28141.0%5.1%
TaxRs m1,1548231,16241.2%0.7%
Profit after taxRs m1,9671,5042,11940.9%7.7%
Gross profit margin%31.624.530.7
Effective tax rate%37.035.435.4
Net profit margin%19.915.920.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 6.5% on a year-on-year (YoY) basis. The expenses were up by 7.9% YoY during the same period.
  • The company's operating profit increased by 3.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 30.7% in 3QFY19 as against 31.6% in 3QFY18.
  • Depreciation charges increased by 41.7% and finance costs declined by 50.0% YoY, respectively.
  • Other income increased by 56.1% YoY during the quarter.
  • Net profit for the quarter increased by 7.7% YoY. Net profit margins during the quarter increased from 19.9% in 3QFY18 to 20.0% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 11.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.4% QoQ during the same period.
  • The company's operating profit increased by 39.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 30.7% in 3QFY19 as against 24.5% in 2QFY18.
  • Net profit for the quarter increased by 40.9% QoQ, while net profit margins increased from 15.9% in 2QFY18 to 20.0% in 3QFY19.

To see how CASTROL INDIA has performed over the last eight quarters, please visit here.

CASTROL INDIA Share Price Performance

Over the last one year, CASTROL INDIA share price has moved up from Rs 183.8 to Rs 159.3, registering a Loss of Rs 24.6 or around 13.4%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 13,573.1 (down 0.3%). Over the last one year it has moved down from 16,159.0 to 13,573.1, a gain of 2,586 points (down 16.0%).

Overall, the S&P BSE SENSEX is up 1.2% over the year.

Current Valuations

At the current price of Rs 159.3, the price to earnings (P/E) ratio of CASTROL INDIA stands at 22.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 15.4 times.

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For the quarter ended September 2019, CASTROL INDIA has posted a net profit of Rs 2 bn (up 25.3% YoY). Sales on the other hand came in at Rs 8 bn (down 8.4% YoY). Read on for a complete analysis of CASTROL INDIA's quarterly results.

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