Mumbai, 3 February 2025 – Castrol India Limited (BSE: 500870; NSE: CASTROLIND) has announced its financial results for the fourth quarter (4Q) and full year ended 31 December 2024 (FY24), reporting record revenue and profitability.
Key Financial Highlights
| (Figures in ₹ Crore) | 4Q 2024 (Oct – Dec) | 4Q 2023 (Oct – Dec) | FY 2024 (Jan – Dec) | FY 2023 (Jan – Dec) |
|---|---|---|---|---|
| Revenue from Operations | 1,354 | 1,264 | 5,365 | 5,075 |
| Profit Before Tax (PBT) | 371 | 324 | 1,258 | 1,181 |
| Profit After Tax (PAT) | 271 | 242 | 927 | 864 |
- Annual revenue grew by 6% YoY, reaching ₹5,365 crore.
- PBT for FY24 increased by 6% to ₹1,258 crore, while PAT rose by 7% to ₹927 crore.
- For 4Q 2024, revenue increased by 7% YoY, with PBT and PAT rising 14% and 12%, respectively.
Dividend Declaration
The Board has recommended a final dividend of ₹9.5 per share, which includes a special dividend of ₹4.5 per share, subject to shareholder approval at the 47th Annual General Meeting on 25 March 2025. The total dividend for 2024 amounts to ₹13 per share.Strategic and Business Highlights
- Product Innovations:
- Launched Castrol EDGE variants for SUVs, hybrids, and European vehicles.
- Introduced CRB TURBOMAX+ CK4, a premium lubricant for trucks.
- Expanded Auto Care range, now available across 60,000 outlets and e-commerce platforms.
- Inaugurated a state-of-the-art technology centre at Patalganga for product innovation.
- Brand Expansion & Marketing:
- Shah Rukh Khan endorsed Castrol EDGE with the 'Stay Ahead' campaign.
- CRB TURBOMAX Pragati Ki Paathshaala campaign engaged over 70,000 truckers across 35 cities.
- Supported motorcycling talent via Castrol POWER1 Ultimate MotoStar initiative.
- Sustainability & Community Engagement:
- Increased recycled content in HDPE plastic bottles to 50%.
- Trained 30,000 truck drivers and 15,000 mechanics in 2024.
- Implemented rainwater harvesting and solar power projects at Silvassa, reducing CO₂ emissions by 45%.
Leadership Changes
- Ms. Nisha Trivedi has been appointed as Nominee Director, replacing Mr. Udayan Sen, who resigned from bp and stepped down from Castrol India's board.
Management Commentary
Kedar Lele, Managing Director, Castrol India Limited, stated:"2024 was a year of significant progress for Castrol India. We introduced meaningful innovations in key product categories and strengthened our market reach. Our focus for 2025 will be on improving rural footprint, launching innovative service offerings, and scaling accessibility to consumers.”
Deepesh Baxi, Chief Financial Officer, added:
"Our strong financial discipline has allowed us to balance growth and profitability in a volatile global environment. Optimizing costs, operational efficiencies, and pricing strategies have helped strengthen margins."
Outlook for 2025
- Relaunch of ACTIV, Castrol's biggest brand, in 1Q 2025.
- Expansion into rural India with a growing network of 143,000 outlets.
- Continued focus on high-quality automotive and industrial lubricants.
