Castrol India - Volumes Recover To Normal Levels In Q4; Dividend Payout Remains Strong: Motilal Oswal
An oil cap sits in the engine bay of a car. (Photographer: Simon Dawson/Bloomberg)

Castrol India - Volumes Recover To Normal Levels In Q4; Dividend Payout Remains Strong: Motilal Oswal

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Motilal Oswal Report

Castrol India Ltd. missed our estimates, weighed by lower-than-expected sales volumes and realization.

Volumes stood at approximately 52 million litres (down 4% YoY; up 11% QoQ), with realization at ~Rs 180/litre (down 4% YoY/QoQ).

This was attributable to corrective price action in commercial vehicles segment – in line with the competition.

The board recommended final dividend of Rs three per share (resulting in full-year dividend of Rs 5.5/share, similar to CY19 levels); this translated to a dividend payout of ~93% (dividend yield at 4.2%) in CY20.

Click on the attachment to read the full report:

Motilal Oswal Castrol India Q4CY20 Result Update.pdf

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