Castrol India Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹18,571 Cr
- P/E
- 17.21
- ROE
- 45.86%
- PEG
- 3.00
- Price to sales
- 2.99
- Debt to equity
- 0.03
- 52W high / low
- ₹202 / ₹174
- Sales growth (5Y)
- 13.81%
- EBITDA margin
- 24.35%
- Net profit margin
- 16.75%
- Promoter holding
- 51.00%
- Sales (last year)
- ₹6,219 Cr
Castrol India Ltd is principally engaged in the business of manufacturing & marketing of automotive and industrial lubricants and related services.[1]
Guidance scorecard · Q2 FY27 call
What Castrol India Ltd's management guided
and where it ranks in Petroleum Products
RevenueQ4 FY26 call
0–10%- Rural and urban geographies are both growing, with rural consistently posting double-digit volume growth.
- Premium portfolios in urban areas, especially cars and motorcycles, are also experiencing double-digit growth.
- Large commercial vehicle and industrial segments are growing but at a slower pace, mostly at high single-digit rates.
- Overall volume growth is around 7%-8% year-on-year, influenced by slower growth in commercial and specialty industrial products.
- The industrial segment continues to rapidly grow in volume at double-digit rates, though margins are slightly lower on average.
2 more points from Castrol India Ltd's call on revenue
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MarginsQ4 FY26 call
FlatSee what Castrol India Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
- Castrol India is focused on expanding its distribution network, particularly in rural areas, now reaching over 40,000 outlets.
- The company has added 700 Rural Service Express outlets catering to bikes, deepening last-mile rural reach.
- Investments continue in activating premium brands in urban high-density consumption markets, especially for cars.
- The company emphasizes innovation and portfolio expansion with multiple "Made in India" products tailored for local applications.
2 more points from Castrol India Ltd's call on capex
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FundraisingQ4 FY26 call
See what Castrol India Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
Ask what Castrol India Ltd said on the order book →
Full Q4 FY26 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Petroleum Products
on management's own guidance
- Arabian Petrol.Good growth2
- Continental Petroleums LtdGood growth1
- Gulf Oil Lubricants India LtdModerate growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Petroleum Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Continental Petroleums Ltd | 20–40% | Up 2%+ | ₹70 Cr | 20.7 |
| 2 | Arabian Petrol. | 20–40% | Up 0–2% | ₹114 Cr | 10.1 |
| 3 | Gulf Oil Lubricants India Ltd | 10–20% | Up 0–2% | ₹5,402 Cr | 13.6 |
| 4 | 10–20% | Flat | ₹16.39L Cr | 21.9 | |
| 5 | 10–20% | Flat | ₹1.84L Cr | 5.5 | |
| 6 | 10–20% | Flat | ₹30,270 Cr | 7.3 |
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Pro shows every company guiding 40%+ revenue growth →Full Petroleum Products rankingFinancials of Castrol India Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Castrol India Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% |
| FIIs + | 10.38% | 9.51% | 9.98% | 10.05% | 9.52% | 10.64% | 10.31% | 10.27% | 9.68% | 8.48% | 8.17% | 10.42% |
| DIIs + | 15.92% | 16.37% | 16.11% | 15.19% | 14.46% | 14.57% | 14.92% | 14.95% | 14.58% | 14.20% | 13.63% | 12.88% |
| Government + | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.46% | 0.78% | 0.43% |
| Public + | 22.70% | 23.11% | 22.90% | 23.77% | 25.02% | 23.79% | 23.75% | 23.78% | 24.73% | 25.85% | 26.41% | 25.26% |
| No. of Shareholders | 3,39,597 | 3,77,234 | 3,98,584 | 4,88,060 | 5,06,992 | 5,28,263 | 5,41,916 | 5,27,199 | 5,29,407 | 5,44,404 | 5,41,506 | 5,30,141 |
Pros & Cons
Castrol India Ltd
Key positives and risks surfaced from the company insights section.
- Dec 2022 May 2024 Mar 2026 Castrol Auto Service (CAS) Outlets outlets 230 Concall Transcript - 20 Feb 2023 “we expanded our service and maintenance network with 230 Castrol Auto Service centers” Page 4 · Source 534 Concall Transcript - 06 May 2024 “534 Castrol Auto Service outlets” Page 4 · Source 800 Concall Transcript - 04 May 2026 “Our service ecosystem remains a strong pillar of our business, 800 Castrol Auto Services at the end of March” Page 4 · Source Independent Bike Workshops workshops 5,500 Concall Transcript - 04 Nov 2022 “we have about 5,000 bike points and as I said, 40 express oil change centers where customers can buy oil on Jio-bp sites and change their oil” Page 4 · Source 28,000 Concall Transcript - 06 May 2024 “We've also reached nearly 28,000 independent bike workshops adding over 1,000 outlets each quarter” Page 4 · Source 34,000 Concall Transcript - 04 May 2026 “we now tapped 34,000 independent bike workshops across the country” Page 4 · Source Lubricant Volume million liters 210.00 Concall Transcript - 20 Feb 2023 “Annual volume is 210 million liters.” Page 6 · Source 219.50 Concall Transcript - 06 Feb 2024 “So the volume for full year has been 219 million to 220 million litres in that range.” Page 12 · Source Multi-brand Car Workshops workshops 9,000 Concall Transcript - 06 May 2024 “Expanding our aftermarket presence, we've grown to over 9,000 multi-brand passenger car workshops, showcasing impressive double-digit growth quarter-on-quarter” Page 4 · Source 13,000 Concall Transcript - 04 May 2026 “we reached 13,000 multi-brand workshops in cars” Page 4 · Source Retail Automotive Lubricant Market Share (Nielsen) % 37.70 Presentation - 31 May 2024 “37.7% Castrol (MAT for Feb 2024 as per Nielsen RSA)” Page 8 · Source 21.00 Presentation - 28 May 2026 “Market share across automotive categories” Page 4 · Source Rural Outlets outlets 33,500 Concall Transcript - 06 May 2024 “we've significantly increased our reach, making our products available in more than 33,500 outlets situated in the remote parts of the country” Page 4 · Source 43,000 Presentation - 28 May 2026 “Expanded national distribution footprint to ~150K outlets, including 43K outlets across 9K villages” Page 5 · Source Total Retail Outlets outlets 135,000 Concall Transcript - 06 May 2024 “we now have a national footprint exceeding 1,35,000 outlets” Page 4 · Source 150,000 Presentation - 28 May 2026 “Expanded national distribution footprint to ~150K outlets” Page 5 · Source Volume Growth YoY % YoY 8 Concall Transcript - 09 Feb 2026 “For the full year, volume grew 8% year-on-year” Page 3 · Source
- Dec 2022 May 2024 Mar 2026 Castrol Auto Service (CAS) Outlets outlets 230 Concall Transcript - 20 Feb 2023 “we expanded our service and maintenance network with 230 Castrol Auto Service centers” Page 4 · Source 534 Concall Transcript - 06 May 2024 “534 Castrol Auto Service outlets” Page 4 · Source 800 Concall Transcript - 04 May 2026 “Our service ecosystem remains a strong pillar of our business, 800 Castrol Auto Services at the end of March” Page 4 · Source Independent Bike Workshops workshops 5,500 Concall Transcript - 04 Nov 2022 “we have about 5,000 bike points and as I said, 40 express oil change centers where customers can buy oil on Jio-bp sites and change their oil” Page 4 · Source 28,000 Concall Transcript - 06 May 2024 “We've also reached nearly 28,000 independent bike workshops adding over 1,000 outlets each quarter” Page 4 · Source 34,000 Concall Transcript - 04 May 2026 “we now tapped 34,000 independent bike workshops across the country” Page 4 · Source Lubricant Volume million liters 210.00 Concall Transcript - 20 Feb 2023 “Annual volume is 210 million liters.” Page 6 · Source 219.50 Concall Transcript - 06 Feb 2024 “So the volume for full year has been 219 million to 220 million litres in that range.” Page 12 · Source Multi-brand Car Workshops workshops 9,000 Concall Transcript - 06 May 2024 “Expanding our aftermarket presence, we've grown to over 9,000 multi-brand passenger car workshops, showcasing impressive double-digit growth quarter-on-quarter” Page 4 · Source 13,000 Concall Transcript - 04 May 2026 “we reached 13,000 multi-brand workshops in cars” Page 4 · Source Retail Automotive Lubricant Market Share (Nielsen) % 37.70 Presentation - 31 May 2024 “37.7% Castrol (MAT for Feb 2024 as per Nielsen RSA)” Page 8 · Source 21.00 Presentation - 28 May 2026 “Market share across automotive categories” Page 4 · Source Rural Outlets outlets 33,500 Concall Transcript - 06 May 2024 “we've significantly increased our reach, making our products available in more than 33,500 outlets situated in the remote parts of the country” Page 4 · Source 43,000 Presentation - 28 May 2026 “Expanded national distribution footprint to ~150K outlets, including 43K outlets across 9K villages” Page 5 · Source Total Retail Outlets outlets 135,000 Concall Transcript - 06 May 2024 “we now have a national footprint exceeding 1,35,000 outlets” Page 4 · Source 150,000 Presentation - 28 May 2026 “Expanded national distribution footprint to ~150K outlets” Page 5 · Source Volume Growth YoY % YoY 8 Concall Transcript - 09 Feb 2026 “For the full year, volume grew 8% year-on-year” Page 3 · Source
Financials of Castrol India Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,183 | 1,264 | 1,325 | 1,398 | 1,288 | 1,354 | 1,422 | 1,497 | 1,363 | 1,440 | 1,545 | 1,871 | 1,735 |
| Expenses + | 914 | 935 | 1,032 | 1,075 | 1,002 | 978 | 1,115 | 1,147 | 1,040 | 1,072 | 1,216 | 1,377 | 1,473 |
| Operating Profit | 269 | 329 | 294 | 322 | 286 | 376 | 307 | 350 | 323 | 368 | 329 | 494 | 262 |
| OPM % | 23% | 26% | 22% | 23% | 22% | 28% | 22% | 23% | 24% | 26% | 21% | 26% | 15% |
| Other Income + | 20 | 22 | 24 | 20 | 21 | 23 | 32 | 9 | 12 | -9 | 23 | 14 | 13 |
| Interest | 2 | 2 | 2 | 3 | 2 | 3 | 2 | 3 | 2 | 2 | 2 | 2 | 2 |
| Depreciation | 23 | 25 | 24 | 26 | 25 | 25 | 25 | 27 | 25 | 24 | 28 | 30 | 30 |
| Profit before tax | 264 | 324 | 292 | 314 | 280 | 371 | 313 | 330 | 308 | 332 | 323 | 476 | 243 |
| Tax % | 26% | 25% | 26% | 26% | 26% | 27% | 25% | 26% | 26% | 26% | 25% | 27% | 28% |
| Net Profit + | 194 | 242 | 216 | 232 | 207 | 271 | 233 | 244 | 228 | 245 | 242 | 348 | 176 |
| EPS in Rs | 1.97 | 2.45 | 2.19 | 2.35 | 2.10 | 2.74 | 2.36 | 2.47 | 2.30 | 2.47 | 2.45 | 3.52 | 1.78 |
Financials of Castrol India Ltd
Profit & Loss
Annual income statement trend
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 3,392 | 3,298 | 3,370 | 3,584 | 3,905 | 3,877 | 2,997 | 4,192 | 4,774 | 5,075 | 5,365 | 5,722 | 6,591 |
| Expenses + | 2,675 | 2,397 | 2,369 | 2,551 | 2,834 | 2,723 | 2,183 | 3,125 | 3,663 | 3,877 | 4,086 | 4,374 | 5,138 |
| Operating Profit | 718 | 901 | 1,001 | 1,033 | 1,071 | 1,154 | 814 | 1,067 | 1,111 | 1,198 | 1,278 | 1,348 | 1,453 |
| OPM % | 21% | 27% | 30% | 29% | 27% | 30% | 27% | 25% | 23% | 24% | 24% | 24% | 22% |
| Other Income + | 47 | 90 | 86 | 84 | 84 | 64 | 62 | 47 | 67 | 83 | 88 | 45 | 42 |
| Interest | 2 | 1 | 1 | 1 | 1 | 1 | 4 | 2 | 4 | 8 | 9 | 9 | 8 |
| Depreciation | 36 | 39 | 45 | 46 | 56 | 70 | 87 | 83 | 81 | 92 | 100 | 101 | 113 |
| Profit before tax | 726 | 951 | 1,040 | 1,070 | 1,098 | 1,147 | 785 | 1,029 | 1,093 | 1,181 | 1,258 | 1,282 | 1,375 |
| Tax % | 35% | 35% | 36% | 35% | 36% | 28% | 26% | 26% | 25% | 27% | 26% | 26% | |
| Net Profit + | 475 | 615 | 670 | 692 | 708 | 827 | 583 | 758 | 815 | 864 | 927 | 950 | 1,011 |
| EPS in Rs | 4.80 | 6.22 | 6.78 | 6.99 | 7.16 | 8.36 | 5.89 | 7.66 | 8.24 | 8.74 | 9.37 | 9.60 | 10.22 |
| Dividend Payout % | 78% | 72% | 81% | 100% | 70% | 66% | 93% | 72% | 79% | 86% | 149% | 91% |
Financials of Castrol India Ltd
Balance Sheet
Capital structure and asset base
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 247 | 247 | 247 | 495 | 495 | 495 | 495 | 495 | 495 | 495 | 495 | 495 | 495 |
| Reserves | 250 | 328 | 734 | 526 | 671 | 872 | 920 | 1,151 | 1,391 | 1,627 | 1,784 | 1,406 | 1,414 |
| Borrowings + | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7 | 50 | 77 | 82 | 63 | 53 |
| Other Liabilities + | 995 | 1,086 | 907 | 957 | 941 | 862 | 979 | 1,052 | 1,133 | 1,221 | 1,275 | 1,432 | 1,917 |
| Total Liabilities | 1,492 | 1,662 | 1,888 | 1,977 | 2,107 | 2,229 | 2,394 | 2,704 | 3,069 | 3,420 | 3,635 | 3,395 | 3,880 |
| Fixed Assets + | 172 | 149 | 147 | 139 | 186 | 200 | 209 | 201 | 261 | 259 | 319 | 334 | 348 |
| CWIP | 16 | 36 | 37 | 57 | 35 | 27 | 44 | 50 | 61 | 108 | 60 | 72 | 56 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 325 | 488 | 488 | 443 | 377 |
| Other Assets + | 1,304 | 1,476 | 1,704 | 1,781 | 1,886 | 2,002 | 2,141 | 2,453 | 2,422 | 2,565 | 2,769 | 2,546 | 3,099 |
| Total Assets | 1,492 | 1,662 | 1,888 | 1,977 | 2,107 | 2,229 | 2,394 | 2,704 | 3,069 | 3,420 | 3,635 | 3,395 | 3,880 |
Financials of Castrol India Ltd
Cash Flows
Operating, investing and financing cash movement
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 548 | 740 | 664 | 608 | 549 | 879 | 893 | 630 | 916 | 853 | 1,044 | 1,090 |
| Cash from Investing Activity + | -14 | 2 | -33 | 151 | 66 | -448 | -201 | -83 | 62 | -251 | -265 | 199 |
| Cash from Financing Activity + | -697 | -478 | -568 | -656 | -567 | -628 | -564 | -558 | -608 | -664 | -819 | -1,315 |
| Net Cash Flow | -163 | 264 | 63 | 104 | 48 | -196 | 128 | -10 | 370 | -61 | -40 | -26 |
| Free Cash Flow | 497 | 703 | 641 | 573 | 472 | 780 | 869 | 547 | 806 | 761 | 951 | 996 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 111% | 119% | 104% | 97% | 89% | 103% | 139% | 85% | 107% | 98% | 106% | 107% |
Financials of Castrol India Ltd
Ratios
Working capital efficiency and return ratios
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 29 | 26 | 28 | 29 | 37 | 45 | 22 | 27 | 27 | 30 | 30 | 30 |
| Inventory Days | 69 | 69 | 82 | 70 | 87 | 64 | 106 | 87 | 78 | 74 | 70 | 68 |
| Days Payable | 101 | 123 | 118 | 133 | 112 | 99 | 157 | 110 | 99 | 98 | 94 | 98 |
| Cash Conversion Cycle | -3 | -28 | -9 | -34 | 12 | 10 | -30 | 4 | 6 | 6 | 6 | 0 |
| Working Capital Days | -27 | -48 | -18 | -16 | 5 | 5 | -34 | -8 | -8 | -7 | -7 | -13 |
| ROCE % | 117% | 179% | 133% | 105% | 101% | 91% | 57% | 67% | 61% | 57% | 55% | 60% |
Guidance history
How Castrol India Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 0–10% | Flat | — | — | — |
| Q3 FY26 call → | 0–10% | Flat | Planned | — | — |
| Q2 FY26 call → | 0–10% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
30 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −4.2% | 57% |
| Last 6 months | +1.7% | 58% |
| Last 3 months | +1.5% | 70% |
The price is 29.4% below its all-time high of ₹266.45 (5 Dec 2014). Stocks more than 20% below their peak have their score halved, so 60 became 30.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Castrol India Ltd: 0.4 × 57 + 0.4 × 58 + 0.2 × 70 = 60, halved to 30 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Castrol India Ltd's management said in earlier quarters
- Q2 FY27 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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