Castrol India Q3 Review - Ebitda Beat; Outlook Positive: IDBI Capital
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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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