While EVs are quietly humming into the future, Castrol India’s engines are still roaring with old-school swagger. The company posted another “steady” quarter (corporate-speak for “we didn’t crash, yay!”) even as the world debates when lube giants will finally go extinct. Spoiler: not this quarter. With new helmet cleaners, EV fluids, and MoUs with VinFast, Castrol’s trying to prove it can still stay slick in a battery-powered world. Read on—things get oily, profitable, and mildly sarcastic from here.
At a Glance
- Revenue ₹1,363 cr –Up 6% YoY. CFO swears it wasn’t inflation, just pure hustle.
- EBITDA ₹323 cr –Up ₹37 cr. The grease still pays the bills.
- PAT ₹228 cr –Up 10%. Margins smooth as Castrol EDGE.
- Volumes –Up 7%. Clearly, India still loves combustion.
- Stock –Traders likely heard “EV” and forgot to check it was about coolants, not cars.
Management’s Key Commentary
“We delivered steady, consistent growth backed by focus on profitability.”(Translation: No fireworks, but at least the engine didn’t stall.)😏
“We’re transforming from a lubricant provider to a full service and maintenance company.”(Castrol wants to be your car’s therapist, not just its oil change.)
“The MoU with VinFast aligns with India’s transition to sustainable mobility.”(Translation: EVs scare us, but partnering with one helps us look brave.)
“Base oil volatility and forex movement added pressure.”(Ah yes, the eternal corporate scapegoats—‘volatile’ and ‘forex.’)
“Our products are now available at 1.5 lakh retail outlets, including 40,000 in rural India.”(The only thing more widespread than Castrol is political posters before elections.)
“Data center coolants are a huge global opportunity.”(Because if cars stop needing oil, maybe servers will start sweating instead.)
“We’ve maintained margin stability and delivered growth—a rare dual achievement.”(Basically saying: ‘We’re not like those other midlife oil companies.’)
Numbers Decoded
| Metric | Q3CY25 | YoY Growth | Comment |
|---|---|---|---|
| Revenue from Operations | ₹1,363 cr | +6% | Volume-led, not price-fueled |
| EBITDA | ₹323 cr | +13% | Margins still high-octane |
| PAT | ₹228 cr | +10% | Profits behaving, for once |
| Volumes | 60 mn liters | +7% | 63–66–60 mn L quarterly trend |
| Industrial share of volume | ~13–14% | Double-digit gr. | Castrol’s “second engine” |
| Rural contribution (B2C) | ~25–30% | Double-digit gr. | Villages now greasing the growth |
| Base oil cost movement | -3.5% YTD | — | Slight COGS tailwind, forex spoiled it |
(CFO calls it “discipline.” We call it “smart spreadsheet yoga.”)
Analyst Questions
Q:Will the new CEO change direction?A:Nope. Same GPS, just a new driver. (Translation: “Don’t expect innovation, but don’t panic either.”)
Q:What’s the deal with your investment in ki Mobility?A:Still holding, still learning, still “strategic.” (So… not exactly paying rent yet.)
Q:EVs are killing engine oils—what’s your defense?A:EVs still need fluids, coolants, and greases. (Basically saying: “We’ll lubricate whatever moves.”)
Q:Data center coolants—any real money?A:Tests are on; margins could be $1/litre. (Finally, a new buzzword after “premiumization.”)
Q:Can margins go beyond 24%?A:“We’re happy where we are.” (Translation: Stop dreaming, this isn’t software.)
Guidance & Outlook
Management expects to“stay the course”—the corporate way of saying, “don’t expect miracles.” Volume growth to stay at 7–8%, with industrial and rural driving demand. Focus areas: EV fluids, data center coolants, and the new auto service network (CAS). Assumes no oil crash, no recession, and no EV
