Castrol India - Pent Up Demand Drives Earnings In Q1; Covid-19 Likely To Impact In Q2: Motilal Oswal
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Motilal Oswal Report
Castrol India Ltd. delivered a beat across all fronts, led by higher than estimated volumes of approximately 61 million litre (up 62% YoY and 17% QoQ) – aided by pent up demand in January-February 2021.
Commercial and two-wheeler segment performed well during Q1 CY21, while demand from agriculture sector remains robust (led by higher tractor sales).
However the management said additional restrictions/lockdowns are resulting in a market slowdown in various parts of India, thus posing a challenge to its Q2 CY21 volume outlook.
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