Castrol's performance is better than our expectation. The company has reported a PAT growth of 29% qoq and 28% yoy basis to Rs.1.78 bn mainly on account of better realization, marginally higher volumes (despite GST impact) and higher other income. Overall revenue has increased by 13% yoy to Rs. 8.6 bn. Operating margin improved impressively by 150 bps to 29% in Q3CY17. The Company has also declared a bonus in 1:1 ratio with expected date of allotment 6th Jan'18. The Company has a strong trust on personal mobility. In Q3CY17, Castrol reported double digit volume growth (yoy) in personal mobility segment and power brands....