CASTROL INDIA Announces Quarterly Results (3QFY21); Net Profit Down 30.8%

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CASTROL INDIA Announces Quarterly Results (3QFY21); Net Profit Down 30.8%
Wed, 3 Feb

CASTROL INDIA has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

CASTROL INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m10,1188,8319,3525.9%-7.6%
Other incomeRs m16211715330.8%-5.6%
TurnoverRs m10,2808,9489,5056.2%-7.5%
ExpensesRs m6,7065,9496,77613.9%1.0%
Gross profitRs m3,4122,8822,576-10.6%-24.5%
DepreciationRs m1832152233.7%21.9%
InterestRs m398-11.1%166.7%
Profit before taxRs m3,3882,7752,498-10.0%-26.3%
TaxRs m675729621-14.8%-8.0%
Profit after taxRs m2,7132,0461,877-8.3%-30.8%
Gross profit margin%33.732.627.5
Effective tax rate%19.926.324.9
Net profit margin%26.422.919.7
* 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 fell 7.6% on a year-on-year (YoY) basis. The expenses were up by 1.0% YoY during the same period.
  • The company's operating profit declined by 24.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.5% in 3QFY21 as against 33.7% in 3QFY20.
  • Depreciation charges increased by 21.9% and finance costs increased by 166.7% YoY, respectively.
  • Other income declined by 5.6% YoY during the quarter.
  • Net profit for the quarter declined by 30.8% YoY. Net profit margins during the quarter declined from 26.4% in 3QFY20 to 19.7% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 13.9% QoQ during the same period.
  • The company's operating profit declined by 10.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.5% in 3QFY21 as against 32.6% in 2QFY20.
  • Net profit for the quarter declined by 8.3% QoQ, while net profit margins declined from 22.9% in 2QFY20 to 19.7% in 3QFY21.

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

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CASTROL INDIA Share Price Performance

Over the last one year, CASTROL INDIA share price has moved down from Rs 147.2 to Rs 128.0, registering a Loss of Rs 19.2 or around 13.0%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 14,535.3 (up 0.6%). Over the last one year it has moved up from 13,636.6 to 14,535.3, a gain of 899 points (up 6.6%).

Overall, the S&P BSE SENSEX is up 26.5% over the year.

Current Valuations

At the current price of Rs 128.0, the price to earnings (P/E) ratio of CASTROL INDIA stands at 21.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 9.3 times.

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