Shares of Castrol India Ltd. surged as much as 8% after its December quarter results. The company follows a calendar year format to disclose its quarterly financials.
The company reported results after market hours on Monday, February 3, which improved both sequentially, as well as on a year-on-year basis.
For the December quarter, the company’s net profit grew by 12% from last year and over 30% from the previous quarter to ₹271 crore.
Revenue increased by 7% from last year and 5% from the September quarter to ₹1,353 crore.
Castrol’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) grew by 14% year-on-year to ₹375 crore. When compared to the September quarter, that figure went up by 31%.
EBITDA margin for the quarter went up by 170 basis points from last year and over 550 basis points from the previous quarter to 27.7%.
Castrol announced dividends worth ₹9.5 per share, which is also included a special dividend of ₹4.5 per share.
Shares of Castrol India had made a peak of ₹284 in August last year. Despite Tuesday’s move, the stock is down close to 40% from those levels.
Despite the fall from the peak, retail shareholders, or those with authorised share capital of up to ₹2 lakh, have continued to increase their stake in the company.
At the end of the December quarter, Castrol India had 4.9 lakh retail shareholders with a 16.88% stake, in comparison to 3.84 lakh shareholders at the end of the June quarter, who had a 15.37% stake.
Mutual Funds have pared their stake in the company over the last two quarters by 50 basis points to 2.1% from 2.6% in June.
Among other marquee shareholders, Government of Singapore’s name appears in the list with a 1.75% stake. Plutus Wealth Management is also among the other prominent shareholders. India’s largest insurance company Life Insurance Corporation of India (LIC) also has a 10% stake in Castrol India.
Shares of Castrol India are trading 6.6% higher on Tuesday at ₹188.09.

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