Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹18,263Cr
Rev Gr TTM
Revenue Growth TTM
7.01%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

CASTROLIND
VS
| Quarter | Jun 2023 | Sep 2023 | Dec 2023 | Jun 2024 | Sep 2024 | Dec 2024 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 7.4 | 5.5 | 7.5 | 2.4 | 4.8 | 8.9 | 7.1 | 7.3 | 7.1 | 5.8 | 6.3 | 8.7 |
| 1,024 | 914 | 935 | 1,032 | 1,075 | 1,002 | 978 | 1,115 | 1,147 | 1,040 | 1,072 | 1,216 |
Operating Profit Operating ProfitCr |
| 23.2 | 22.7 | 26.0 | 22.2 | 23.1 | 22.2 | 27.8 | 21.6 | 23.4 | 23.7 | 25.6 | 21.3 |
Other Income Other IncomeCr | 19 | 20 | 22 | 24 | 20 | 21 | 23 | 32 | 9 | 12 | -9 | 23 |
Interest Expense Interest ExpenseCr | 1 | 2 | 2 | 2 | 3 | 2 | 3 | 2 | 3 | 2 | 2 | 2 |
Depreciation DepreciationCr | 22 | 23 | 25 | 24 | 26 | 25 | 25 | 25 | 27 | 25 | 24 | 28 |
| 305 | 264 | 324 | 292 | 314 | 280 | 371 | 313 | 330 | 308 | 332 | 323 |
| 80 | 69 | 82 | 76 | 82 | 73 | 100 | 79 | 86 | 80 | 88 | 81 |
|
Growth YoY PAT Growth YoY% | 9.2 | 3.9 | 25.1 | 6.8 | 3.1 | 6.7 | 12.2 | 8.0 | 5.1 | 9.8 | -9.8 | 3.7 |
| 16.9 | 16.4 | 19.1 | 16.3 | 16.6 | 16.1 | 20.1 | 16.4 | 16.3 | 16.7 | 17.0 | 15.7 |
| 2.3 | 2.0 | 2.5 | 2.2 | 2.4 | 2.1 | 2.7 | 2.4 | 2.5 | 2.3 | 2.5 | 2.5 |
| Financial Year | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Mar 2026 |
|---|
|
| -2.8 | 2.2 | 6.3 | 8.9 | -0.7 | -22.7 | 39.9 | 13.9 | 6.3 | 5.7 | 6.7 | 2.1 |
| 2,403 | 2,371 | 2,551 | 2,834 | 2,724 | 2,183 | 3,126 | 3,663 | 3,877 | 4,087 | 4,374 | 4,475 |
Operating Profit Operating ProfitCr |
| 27.1 | 29.6 | 28.8 | 27.4 | 29.7 | 27.2 | 25.4 | 23.3 | 23.6 | 23.8 | 23.6 | 23.4 |
Other Income Other IncomeCr | 96 | 87 | 84 | 84 | 65 | 62 | 48 | 67 | 83 | 89 | 45 | 36 |
Interest Expense Interest ExpenseCr | 1 | 1 | 1 | 1 | 1 | 4 | 2 | 4 | 8 | 9 | 9 | 9 |
Depreciation DepreciationCr | 39 | 45 | 46 | 56 | 70 | 87 | 83 | 81 | 92 | 100 | 101 | 104 |
| 951 | 1,040 | 1,070 | 1,098 | 1,147 | 785 | 1,029 | 1,093 | 1,181 | 1,258 | 1,282 | 1,293 |
| 336 | 370 | 378 | 390 | 320 | 202 | 271 | 278 | 317 | 330 | 332 | 334 |
|
| 29.6 | 9.0 | 3.2 | 2.4 | 16.8 | -29.5 | 30.1 | 7.5 | 6.0 | 7.3 | 2.5 | 0.9 |
| 18.7 | 19.9 | 19.3 | 18.1 | 21.3 | 19.4 | 18.1 | 17.1 | 17.0 | 17.3 | 16.6 | 16.4 |
| 6.2 | 6.8 | 7.0 | 7.2 | 8.4 | 5.9 | 7.7 | 8.2 | 8.7 | 9.4 | 9.6 | 9.7 |
| Financial Year | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|
Equity Capital Equity CapitalCr | 247 | 247 | 495 | 495 | 495 | 495 | 495 | 495 | 495 | 495 | 495 |
| 328 | 734 | 526 | 671 | 872 | 920 | 1,151 | 1,391 | 1,627 | 1,784 | 1,406 |
Current Liabilities Current LiabilitiesCr | 1,071 | 893 | 941 | 925 | 840 | 947 | 1,034 | 1,119 | 1,215 | 1,270 | 1,408 |
Non Current Liabilities Non Current LiabilitiesCr | 15 | 14 | 16 | 16 | 21 | 33 | 24 | 64 | 83 | 87 | 86 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 1,333 | 1,544 | 1,572 | 1,727 | 1,835 | 1,944 | 2,244 | 2,234 | 2,324 | 2,563 | 2,345 |
Non Current Assets Non Current AssetsCr | 328 | 345 | 405 | 380 | 393 | 450 | 460 | 835 | 1,096 | 1,072 | 1,050 |
Total Assets Total AssetsCr |
| Financial Year | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 740 | 664 | 609 | 549 | 879 | 893 | 630 | 916 | 853 | 1,044 | 1,090 |
Investing Cash Flow Investing Cash FlowCr | 2 | -33 | 151 | 66 | -448 | -201 | -83 | 62 | -251 | -267 | 199 |
Financing Cash Flow Financing Cash FlowCr | -478 | -568 | -657 | -567 | -628 | -564 | -558 | -608 | -664 | -819 | -1,315 |
|
Free Cash Flow Free Cash FlowCr | 703 | 641 | 574 | 472 | 780 | 869 | 547 | 806 | 761 | 951 | 996 |
| 120.3 | 99.1 | 88.1 | 77.6 | 106.3 | 153.2 | 83.1 | 112.3 | 98.7 | 112.6 | 114.8 |
CFO To EBITDA CFO To EBITDA% | 82.7 | 66.5 | 59.0 | 51.3 | 76.3 | 109.7 | 59.1 | 82.4 | 71.2 | 81.7 | 80.9 |
| Financial Year | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 21,855 | 18,816 | 19,105 | 14,980 | 12,794 | 12,186 | 12,151 | 12,181 | 17,784 | 19,515 | 19,031 |
Price To Earnings Price To Earnings | 41.6 | 28.1 | 27.6 | 21.1 | 15.5 | 20.9 | 16.0 | 14.9 | 20.6 | 21.1 | 20.0 |
Price To Sales Price To Sales | 6.6 | 5.6 | 5.3 | 3.8 | 3.3 | 4.1 | 2.9 | 2.5 | 3.5 | 3.6 | 3.3 |
Price To Book Price To Book | 38.0 | 19.2 | 18.7 | 12.9 | 9.4 | 8.6 | 7.4 | 6.5 | 8.4 | 8.6 | 10.0 |
| 23.6 | 18.0 | 17.7 | 13.3 | 10.3 | 13.4 | 10.2 | 9.9 | 13.9 | 14.2 | 13.3 |
Profitability Ratios Profitability Ratios |
| 51.5 | 54.6 | 53.5 | 51.2 | 54.9 | 57.8 | 50.9 | 47.6 | 48.0 | 49.1 | 49.0 |
| 27.1 | 29.6 | 28.8 | 27.4 | 29.7 | 27.2 | 25.4 | 23.3 | 23.6 | 23.8 | 23.6 |
| 18.7 | 19.9 | 19.3 | 18.1 | 21.3 | 19.4 | 18.1 | 17.1 | 17.0 | 17.3 | 16.6 |
| 165.3 | 106.1 | 105.0 | 94.3 | 84.0 | 55.8 | 62.4 | 56.6 | 54.1 | 53.7 | 65.8 |
| 106.9 | 68.3 | 67.8 | 60.8 | 60.5 | 41.2 | 46.1 | 43.2 | 40.7 | 40.7 | 50.0 |
| 37.0 | 35.5 | 35.0 | 33.6 | 37.1 | 24.4 | 28.0 | 26.6 | 25.3 | 25.5 | 28.0 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Castrol India Limited, a part of the bp group, has been a cornerstone of India’s lubricants industry for **115 years**. The company operates as a market leader in both **automotive and industrial lubricants**, supported by strong brand recognition, an extensive distribution footprint, and a forward-looking transformation strategy focused on digital integration, sustainability, and diversification into **mobility services and future technologies**.
Headquartered in India and publicly listed for over 40 years, Castrol combines its **125-year global technological legacy** with locally developed innovations to serve a rapidly evolving mobility landscape.
---
### **Key Business Segments & Markets**
- **Automotive**: Two-wheelers, four-wheelers, commercial vehicles, SUVs, hybrids, and electric vehicles.
- **Industrial**: Serves 12 sectors including mining, machinery, wind energy, steel, cement, data centers, aerospace, food processing, and marine.
- **Aftermarket & Services**: Vehicle maintenance, fast oil change, digital platforms, and workshop networks.
- **B2B & OEM Partnerships**: Strong collaborations with domestic and global OEMs across ICE, hybrid, and EV platforms.
---
### **Core Brands & Product Portfolio**
Castrol offers a diverse portfolio of **~600 brand variants across 45 brands**, tailored to different market segments and applications.
#### **Consumer Lubricants**
- **Castrol Activ**: Mass-market 2-wheeler oil; relaunched in 2025 with Shah Rukh Khan ("Garmi Mein Bhi 3X Protection"), reaching 250M+ consumers.
- **POWER1**: Premium synthetic 2-wheeler oil; supplied to Triumph Motorcycles.
- **MAGNATEC**: Mass-prestige and premium 4-wheeler oil; upgraded with API SP/ACEA C2/C3 compliance and E20 fuel compatibility; includes variants like 0W-20, 5W-30, 5W-40.
- **EDGE**: Super-premium passenger car oil with PowerBoost Technology™ (claimed 30% better performance); targeted at hybrids, SUVs, and European cars.
- **CRB Series**: Commercial vehicle oils including:
- *CRB TURBOMAX + CK4*: Premium HD truck oil, tested over 100,000 km on OEMs.
- *CRB Plus 15W-40*: 1,000-hour engine protection for tractors.
- *CRB ESSENTIAL*: Affordable range for rural truck and tractor owners.
- **GTX**: Entry-to-mid-tier oils for older engines and diesel vehicles.
#### **Industrial & Specialty Products**
- **Hysol MB 50 & Hysol 20 XBB**: High-performance metalworking fluids, now **localized in India**.
- **Rustilo DW Series** (800, 806, 809, 812): Rust-preventive oils for automotive, tube, bearings, and metal manufacturing.
- **Optigear CT 320**: Carbon-neutral gear oil for **wind energy**.
- **SPHEEROL Greases**: Non-lithium-based industrial greases.
- **Condition Monitoring & Chemical Management Services (CMS)**: Offers end-to-end lifecycle management of industrial chemicals; operational at over 23 customer sites.
#### **Auto Care & Non-Lube Expansion**
- Launched in 2023, Castrol’s Auto Care range includes:
- Throttle Body Cleaner
- Fuel Injector & Carburetor Cleaner
- Brake Cleaner
- 3-in-1 Shiner, Anti-Rust Lubricant, Chain Lube, Microfibre Cloth, and Shiner Sponge
- Available via **60,000+ physical outlets and e-commerce platforms**.
- Registered **100% volume growth in H1 2025 vs full-year 2024**, with 27,000 units sold in June 2025 alone on e-commerce.
---
### **Distribution & Service Network**
Castrol maintains **India’s largest lubricants distribution and service ecosystem**:
| **Channel** | **Scale** |
|------------|---------|
| **Retail Outlets** | >160,000 outlets (urban, semi-urban, rural) |
| **Rural Reach** | >36,000 outlets via 850+ sub-distributors |
| **Two-Wheeler Service Points** | 32,000+ |
| **Multi-Brand Car Workshops** | 11,000+ |
| **Castrol Auto Service (CAS) Workshops** | 730+ across 340+ cities |
| **Distributors** | 400+ |
| **Direct Institutional Accounts** | >5,500 |
---
### **Strategic Initiatives & Transformations**
#### **1. Bharat Strategy**
- Focus on **semi-urban and rural markets**, where over 50% of two-wheeler sales occur.
- Digitized **Rural DMS** (Distributor Management System) to improve operational visibility and scalability.
- Affordable product lines (e.g., CRB Essential, Activ Essential) to capture price-sensitive segments.
#### **2. Digital & Technology Enablement**
- **Fast Scan App**: Engages **1 million+ mechanics**, records 200,000+ transactions/day.
- **Castrol CONNECT**: Workshop booking app for customers.
- **Castrol DMS & Rural DMS**: Streamline billing, inventory, and claims for distributors.
- **Castrol DIGICLAIM**: Digital claims processing system.
- **Castrol SMART**: Salesforce automation for field teams.
#### **3. Expansion into Mobility & Aftermarket Services**
- **Castrol Auto Service (CAS)**: Organized network of branded service centers.
- **Castrol Express**: 42+ quick-service oil change outlets at Jio-bp fuel stations for two-wheelers.
- Partnerships:
- **With Mahindra Insurance Brokers**: CAS workshops act as insurance POSPs (Point of Sale for Insurance).
- **With Jio-bp**: Nationwide presence at fuel stations to enhance accessibility.
- **With k1 Mobility Solutions (KMS)**: Strategic investment of **₹487.5 crores** (7.09% equity) to co-develop a **digital, B2C-focused service network** via the **myTVS** O2O platform. MyTVS serves 3M+ customers via 1,000+ garages.
#### **4. Electrification & Future Mobility**
- **Castrol ON**: E-fluids brand for EVs including e-transmission fluids, e-coolants, and e-greases.
- Supplies fluids to leading EV OEMs including **Tata Motors, MG Motor, and VinFast**.
- **VinFast Partnership**: Joint service standards, diagnostics, and digital support to build EV service ecosystem in India.
- Trained **1,000+ mechanics** in EV servicing via ASDC-endorsed program.
- Investing in **data center thermal management** (e.g., immersion cooling) via BP’s £50M global R&D center.
#### **5. Manufacturing & Localization**
- **Three manufacturing plants** located in Patalganga (Maharashtra), Paharpur (Telangana), and Silvassa (Dadra & Nagar Haveli).
- **Local production** of Hysol and Rustilo products improves delivery speed and cost efficiency.
- New **filling lines added** at Paharpur and Silvassa to support growth.
- **Patalganga Technology Centre**: State-of-the-art facility for EV, data center, and industrial R&D.
---
### **Sustainability & Industrial Leadership**
- **Recycled Packaging**: Transitioned to **30% post-consumer recycled (PCR) HDPE bottles**, saving 1,800 MT of virgin plastic and 2,600 MT of CO₂/year (100% target by 2030).
- **Circular Economy**: Commercial launch of **RRBO-based (Re-Refined Base Oil) engine oils for BS-IV vehicles**.
- **Silvassa Plant**: 45% reduction in CO₂ emissions via solar power and rainwater harvesting.
- **Eco Product Lines**: Hysol SL, Alusol, Techniclean with extended fluid life and lower environmental impact.
---
### **Leadership & Go-to-Market**
- **Saugata Basu**: Head of B2C, driving multi-year transformation and rural outreach.
- **Omnichannel GTM Model**: Integrates retail, e-commerce, OEM, and digital platforms.
- Major campaigns featuring **Shah Rukh Khan** for Activ and EDGE launched during high-visibility events (IPL, T20 World Cup, Sunburn).
---
### **Competitive Landscape**
The Indian lubricants market is fragmented, with competition from:
- National Oil Companies (IOCL, BPCL, HPCL)
- Global brands (Shell, Mobil)
- OEM genuine oils
- Local unorganized players
Castrol maintains leadership through:
- **Brand trust**, innovation, and digital ecosystem
- **OEM partnerships** and first-fill supply agreements
- **Service-led differentiation** and rural penetration