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Hold Castrol (India); target of Rs 139: Dolat Capital

Date: 25-06-2020
Subject: Hold Castrol (India); target of Rs 139: Dolat Capital
Castrol India had a roller coaster CY19 on a macro level as well as company level. Ambiguity around GST, volatility in raw material price, crude oil and currency movement impacted the volume growth and profitability. CSTRL focused of innovation, new product launches, moved into adjacencies and OEM tie ups to drive growth. They have been continuously working on protecting margins with sustainable growth and are taking pricing actions time and again.

With the de-growth in volumes due to economic slowdown and demand disruption due to Covid, raw material prices getting stable and improving product mix towards personal mobility segment, CSTRL profitability should gain traction in CY21 after a weak CY20.

Source:- moneycontrol.com

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