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Dolat Capital Report
Castrol India Ltd.’s results were above estimates on revenue and profitability front.
The company’s Q3 CY20 volumes were above our estimates at 47 TKL. Realization was at Rs 187.9 per litre.
Revenue increased by 4% YoY and 80% QoQ owing to agri demand and partial revival of pent up demand.
However, there was slow demand pick up in the industrial segment and volume recovery was mainly seen from commercial vehicle and two-wheeler space.
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