BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Castrol India Ltd.’s top line was below of our estimate, but Ebitda was higher than our forecast.
Revenue increased by 4% YoY to Rs 8,831 million led by growth in volumes partially offset by lower realisation.
Ebitda margin expanded by 384 basis points YoY and 1,043 bps QoQ to 32.6% despite sharp rise in prices of key inputs.
Castrol India's net profit increased by 8.6% YoY to Rs 2,046 million.
We make marginal changes to our CY21, CY22 forecasts and introduce CY23 forecast in this report.
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