Castrol India Limited
Registered Office: Technopolls Knowledge Park, Mahakall Caves Road, Andheri (East), Mumbai - 400 093.
(CIN: L23200MH1979PLC021359)
Website:www.castrol.co.in, Tel: (022) 66984100, Fax: (022) 66984101, Email - investorrelations.india@castrol.com
Statement of Unaudited Financial Results for the Quarter Ended 31 March 2022
(Rupees in Crore)
Particulars | Quarter | Quarter | Quarter | Year |
Ended | Ended | Ended | Ended | |
31.03.22 | 31.03.21 | 31.12.21 | 31.12.21 | |
(Refer Note 6) | ||||
Unaudited | Unaudited | Unaudited | Audited | |
Revenue From Operations | 1,235.7 | 1,138.7 | 1,090.6 | 4.192.1 |
Net Profit after tax | 228.4 | 243.6 | 188.6 | 758.1 |
Equity Share Capital | 494.6 | 494.6 | 494.6 | 494.6 |
Total Comprehensive Income for the period | 228.4 | 243.6 | 188.9 | 757.3 |
[Comprising Profit for the period (after tax) and other Comprehensive | ||||
Income (after tax)] | ||||
Earnings Per Share (EPS) (Face value of share of Rs. 5/- each) | 2.31 • | 2.46 * | 1.91 • | 7.66 |
(Rs.) (Basic and Diluted) (Not Annualised) • | ||||
Notes: |
1. The above is an extract of the detailed format of quarterly financial results filed with the stock exchanges under Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The full format of quarterly financial results is available on the stock exchange websites. (www.bseindia.com andwww.nseindia.com) and the Company's website (https://www.castrol.com/en_in/india/investors/financial-results.htmQ.
2. The financial results have been prepared in accordance with Indian Accounting Standards f1ND AS") notified under section 133 of the Companies Act (1he Act') read with Companies Qndian Accounting Standards) Rules, 2015 as amended.
3.
The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 2 May 2022.
4.
The above results have been subjected to •umited
Review" by the Statutory Auditors of the Company.
5
The Company's business segment consists of a single segment of "Lubricants" in accordance with the requirements of Indian Accounting Standard (Ind AS) - 108 Operating Segment. Accordingly, no separate segment information has been provided.
6 The figures of the quarter ended December 31, 2021 are the balancing figures between audited figures in respect of the full financial year ended 2021 and the published year to date figures up to September 30, 2021
7 Estimation of uncertainties relating to the global health pandemic from COVID-19: The Company continues to evaluate the possible effects, if any, that may result from the pandemic relating to COVID-19 in the preparation of the financial results including the recoverability of carrying amounts of financial and non-financial assets. In developing the assumptions relating to the possible future uncertainties in the global economic conditions because of the pandemic, the Company has, at the date of approval of the financial results, used internal and external sources of information and expects that the carrying amount of these assets will be recovered. The impact of COVID-19 on the financial results may be different from that estimated as at the date of approval of these financial results.
8. The Parliament of India has approved the Code on Social Security, 2020 (the Code) which may impact the contributions by the Company towards provident fund, gratuity and ESIC. The Code has been published in the Gazette of India however, the effective date has not yet been notified. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective, if any.
FOR CASTROL INDIA LIMITED
~
Dated : 2 May 2022 Place : Mumbai
Sandeep Sangwan Managing Director
DIN: 08617717
·t'
..!"""
·'
Castrol India Limited
Registered Office: Technopolis Knowledge Park, Mahakall Caves Road, Andheri (East), Mumbai . 400 093
.
. (CIN: l23200MH1979PLC021359)
Website:www.caslrol.co.1n,Tel: (022) 66984100, Fax: (022) 66984101, Email -lnvestorrelabons ind1a@castrolcom
Statement ol UnauditedFinancialResultsfor the Quartar En<>31 March 2022
(Rupees In Crore)
QuarterQuarterQuarter
Particulars
Income
Revenue Fran ()p«1tkw'ls other Income
Total Income Expenses
Co,t of rwwondpoclmg MotertolsCon,umod Purcllosesoflroded goods
Chong .. In lnventortes offtnlslled goods /lrlded goods Emp/"'1'9eBeneflts EXpense
Flnonc:Ceost
OeprecJltla, and Amortlsltton Expenses other Expenses
Total Expensn Profit Befor• Tax Tax Eiq,1nsH
OJrrent tax (net d reversal of eatffer years)
Deferredlox
Total Tax Elcpensts Prontaftertu
Olhtr compr1henslw Income (OCIJ
Items that -MUnot be reclnslfted to profit or loss Re-measurement gains/ (losses) on deftned benefit p.. n, ltlcome tu relating to Itemsthat wfl not be redusffled to prcet or Ion
Total other compr1htmlw
Income/ (1xptnH) for the p1rfodTotal Compr.tltnsfve Income fOf' the period
E<>s,,are CopllaJ
EarningsPer Share (EPS) (Face va~e d shared Rs. 51-each) (RS.) (Blslc and Oiluled) (NetAnnullsed) •
See acccmoan•..,...notes lo the Flnandal Results
Ended 31.03.22
Ended 31.03.21
Ended 31.12.21 (Refer Note 5)
Unaudited
Unaudited
Unaudrted
Year
Ended 311221
Audited
1250.7
1235.7
1138.7
15.0
14.3
1153.0
570.4 472,3
64.2 52,6
(18.9)
1103.0
1090612 4
4192 1 48 4 4240.5
4634
18791
45 7
191 9
0.6
385
70.2
(12 1)
50.1
632
0.7
232 0
0.6
05
20.2
24
21.5
209
939.4 311.3
232.6
82 7
820.7332.3
223.0
1029.3 | |
2800 | |
/881 | |
271.2 | |
188.6 | 758.1 |
04 | (1.1) |
(01) | 0.3 |
0.3 | (0.8) |
757.3 |
494.6
213 9 846.1256.9
82.9 228.4
83.6 /0.71
835 2 3211.2
88.7243.6
92.3 /3.6'
686 (03: 68.3
- .
.
-
.
228.4
243.6
188.9
494.6
494.6
4946
2.31 •
2.46 •
1 91 •
7.66
Dated: 2 May 2022 Place: Mumbai
FOR CASTROL INDIA LIMITED
,./::.
......
Managing Director
DIN : 08617717
Castrol India Limited
RegisteredO!r1CeT:echnopollsKnowtedgePark,Mahaka/CI avesRoad,Andhen(East),Mumbai- 400 093
(CIN:L23200MH1979PLC021359)
Website:www.castrol.co.inT, el: (022)66984100,Fax:(022)66964101,Email. mvestorrelabonlsnd1a@cas!Jcool m statementorUnaudtt.d Financial Results for the Quarter Ended 31 March 2022
NotH:
1. The tlnanclll relUlts haw been prepared rt accordance~ lndan Accounting Standards r1NO ASl notified under secl/a, 133 of the Companies Act ("lhe Acf) read W'ithCorrc>anles(IndianAccounlfng Slandard1) Rule■, 2015 11amendad.
.
2. The aboverMUllswere re-d by Ille Aucfl Committeeand approwd by tho Boordof Directorsol /Is meeting hetd on 2 Moy 2022
3. Tho aboveresuns have been 11JbJecleldo i.1m1todReview"by tho SlaMo,y Audltcn of tho Company
4. The Company'sbulrless segmtnt conststsof a U,gte segmentoti.ubl1cants• 1naccordanceWiththe requirementsof Ind an Accounting standard (Ind AS)- 108 Operating Segment.Accordl'lgly, no separateMIJ!)enl lnl'ormallonhas been pr""1ded.
5. The ftguresof the quarter ended December 31, 2021 are the balancing figuresbetween audited ftguresIn respect of the full ftnanclalyear ended 2021 and the published year lo dslefigures up lo September30. 2021
Estfmldon of uncertaintiesrelatng tothe globalheath pandemicltom COVl~19: The Companyconlrlues to evak.latelhe possible effects,if any. that mayresull from t~e ptnderrlc rellthg to C0V1[)..19In the preparationdthe aiandal resuHslndudng the recoverabllty a carl)1ngamounts or ffnancial and non-ftnancfalassets. In developing lhe assumptionsreilUng to the possib~ future uncertaintiesIn the iobal economiccaHftfons because a the pandemc lhe C001panyhas. al !he date d approval of the flnancial resuh, used htem1l and externalsourcH oflnfom,atlon and expects that the carl}t,g amount dthese assets will be recovered The Impact of COVt0-19 on lhe ffnancial resuts mey be dfferent from that estmated II al the date of approval ct these r,,anclal results.
The Ptr11■ ment d -,da hes lpprOYedthe Code on Soda, Secu,ty. 2020 (the Code) ..t>Jchmay Impactthe conlnbut,a,s by the Company towards provldenl fund. gratuity and EStc. The Code has been publishedk, the Gazetted '1cfa however,the effectivedale has not yet been nollffed The C~anywill assess the Impact of the Code 'wflen it canes Into effect and wll record any related Impact In the period the Code becanes effective.if any
FOR CASTROL !NOIA LIMITED
Dated: 2 May 2022
Place : Mumbai
San~~n Man~s~}~~tor
DIN: 0861TT17
Deloitte
Haskins & Sells LLP
Chartered Accountants One International Center Tower 3, 27th -32nd Floor
Senapati Bapat Marg Elphinstone Road (West)
Mumbai - 400 013 Maharashtra, IndiaTele: + 91 22 6185 4000
Fax: +91 22 6185 4001
INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM FINANCIAL RESULTS
TO THE BOARD OF DIRECTORS OF CASTROL INDIA LIMITED
1. We have reviewed the accompanying "Statement of Unaudited Financial Results of CASTROL INDIA LIMITED ("the Company"), for the Quarter Ended 31 March 2022" ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
For DELOITTE HASKINS & SELLS LLP
Chartered Accountants
Firm's Registration No. 117366W/W-100018
Samir R. Shah
Partner
Membership No. 101708
UDIN: 22101708AIGRKT3817
Place: MUMBAI
Date: 02 May 2022
Regd. Office. One International Centre, Tower 3, 27th -32nd Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013, Maharashtra, India. (LLP Identification No. AAB-8737)
Castrollndla Umltecl
Tat (022)66984100
CINL23200MH1979PLC021359Fax:(022)66984101
TechnopolKisnowledgPe ark, MahakalCl avesRoad, ChakalaA, ndheri(East),
https:/fwww.caslrol.coinm/l/nednla.html CUstomSerelvk:TeolFl reeNo.: 1800222100/ 18002098100
~Castrol/
Mumba-i 400093.
PRESSRELEASE
Castrol India Limitedreportsfirst quarter resultsfor 2022
- Resilientgrowthand performancein the Januaryto Marchquarter
- Continuedrevenuegrowthin 10 2022amidstinflationaryand supplypressures
Mumbai,2 May 2022: Castrol India Limited (BSE: 500870; NSE: CASTROLIND)has announcedits resultsfor the first quarterended 31 March2022.The Companyfollows a calendaryear basis(Januaryto December)for its financialreporting.
For the first quarter (10) ended 31 March2022, the CompanyregisteredRevenuefrom Operationsof ,1,236 crores,registeringa growthof 9% comparedto ,1, 139crores in 10 2021.ProfitBeforeTax for the quarterstoodat ,311 crores,comparedto ,332 croresin 10 2021.
Commentingon the quarterlyresults,SandeepSangwan,ManagingDirector,CastrolIndia Limited,said,"Continuingourgrowthmomentumfrom40 2021,CastrolIndiadelivereda strongperformancein 10 2022,achievingdouble-digigt rowthinvolumes,revenues,gross profitand profitbeforetax, markinga significantgrowthoverthe previousquarter.Despite a brief impact from the third wave of Covid-19in January,businessoperationsresumed normalcyand 10 2022 witnesseda good resurgencein demand.While inflationaryand supplyside pressurescontinuedto be high,CastrolIndiawas ableto serve its customers' needsby leveragingits strongdistributionnetworkand supplierrelationships."
Key highlightsof 1Q 2022 included:
• Expandedour CastrolAutoService(CAS)networkto 116multi-brandpassengercar workshopsin 50+ citiesacrossIndia.
• Expandedpresenceof CastrolExpressOil Changeoutletsin Jio-bpmobilitystations across India, bringing the total count to 38. These outlets offer two-wheeler consumersswiftand reliableoil changeon the go.
• BYDIndiaapprovedthe useof Castrolfluidfor itsfirstall-electricMPVin India.
•· Castro! Super MechanicContest 2021-22 culminatedwith the winners being announcedat a ceremonygraced by the Hon'ble Ministerfor Education,Skill Developmen&t EntrepreneurshipS,hriDharmendraPradhan.Thecontestengaged 140,000+independenat utomechanicsacrossIndiaandofferedthemwithadvanced technicaltrainingin partnershipwiththeAutomotiveSkillsDevelopmenCt ouncil.
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Castrol India Ltd. published this content on 02 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 May 2022 12:46:09 UTC.