Castrol India Ltd

The provided transcript from Castrol India Limited's con call (page 18 of the PDF) does not specifically mention any details regarding the current or expected order book or pending orders. The discussion primarily covers topics such as data center coolant technology pilots, EBITDA margin reasons, revenue and product mix, capex plans, EV fluids, market growth, and OEM relationships. No concrete figures or updates on order book or pending orders are disclosed. Summary: - No specific information on current or expected order book or pending orders is provided. - Focus areas include technology pilots, margin analysis, market growth, and operational updates. - Technology collaborations and pilots with data center players are ongoing but still at an early stage without commercialization timelines. - Company plans and investments aim at growth and scaling in various segments but do not reference order specifics.

- The company did not indicate any current or immediate plans for new fundraising through debt or equity. - Saugata Basuray mentioned that capital expenditure (capex) is not a constraint for them due to a healthy cash balance sheet. - Castrol India Limited intends to invest wherever there is a business need with a focus on growth. - Capex guidance for CY '25 is around INR 130-150 crores, mostly for plant capacity, innovation, and distribution expansion. - There was no mention of raising funds through new debt or equity in the call; emphasis was on self-funded growth and efficient capital use.

- Castrol India plans ongoing capex primarily for growth and innovation. - Capex is split roughly equally between plant capacity expansion and building capacity for new product launches. - They invest in process transformation programs for supporting growth over the next couple of years. - Capex also includes investments in distribution growth, dealer infrastructure, and Rural Service Express initiatives. - Typical annual capex run rate is around INR 130-150 crores. - Investment decisions are driven by business needs and ROI considerations, with a strong balance sheet supporting these plans. - No current constraint on capex; company ready to invest when expected payoffs justify it.

- Castrol India expects sustained high-single-digit volume growth, aiming to grow volumes at 1.5x to 2x the market growth rate (market growth around 3.5%-4%). - Industrial segment is growing faster (double digits) than automotive (high-single-digit), expected to increase its share by 2030. - Data center coolant business is in early stages but anticipated to grow rapidly on a small base, with significant future opportunity driven by new data center technologies like immersion cooling. - New product launches and deeper OEM relationships are expected to contribute to growth. - Rural distribution and penetration into personal mobility segments (2-wheelers, cars) continue to drive volume growth. - Capex investment (~INR 100-150 crores annually) supports capacity expansion and distribution growth to enable sustained revenue and volume increases.

- Castrol India expects sustained volume growth at 1.5x to 2x the market growth rate, with overall market growth projected at 3.5%-4%. - Volume grew 8% in 2025, with EBITDA growth at 5.5%, indicating some margin compression. - EBITDA margins ranged between 21%-24%, with a healthy close near 24% in 2025. Future margins may see some dilution due to growth in the industrial segment, which has lower margins than automotive. - Focus remains on disciplined cost control, pricing, mix optimization, and investments in brand building and distribution expansion. - Growth drivers include automotive sector, industrial business expansion (double-digit growth), rural distribution, and new product innovations. - Business investments and capex (~INR 100-150 crores annually) aimed at capacity, innovation, and distribution support growth. - The company maintains strong cash flow and dividend payout, reflecting robust profitability and financial discipline.