Castrol India Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for CASTROLIND, BSE:500870 Castrol India Ltd.

Castrol India Ltd.

28 Oct 2020

201.03

0.70%

Castrol

Accumulate: Castrol India Ltd.

Recommendation Target

Dolat Capital

Realization was at Rs 187.9/L. Revenue increased by 4% YoY and 80% QoQ owing to agri demand and partial revival of pent up demand. However, there was slow demand pick up in the industrial segment and volume recovery was mainly seen from CV and 2W space. Gross spreads improved by 7.2% on a YoY basis and by 30.2% on a sequential basis. CIL is taking pricing actions as and when required and will take necessary steps to keep cost in control. Cost per litre declined by 13.7% on a sequential basis and by 9.1% YoY. Gross margins...

Castrol India Ltd. has an average target of 238.50 from 2 brokers.

Castrol India Ltd.

29 Jul 2020

201.03

0.70%

Surprise on volumes, though recovery seems far off

Buy: Castrol India Ltd.

Target

Motilal Oswal

Further, better product mix has aided the company in avoiding a steep decline in its gross margin/liter, which stood at INR86.8/liter (-14% YoY). Owing to the lower tax rate of 26.1% (v/s 35.6% in 1HCY19), PAT stood at INR1.9b (-48% YoY). Factoring in the same along with further imposition of the extended lockdowns in various states, we have revised down our volume estimate for CY20/CY21 to 143m/186m liter (from 153m/191m liter), resulting in EPS CSTRL has entered into a strategic alliance with Jio-BP fuel retail JV to exclusively sell its products at its 1,400 outlets (which should expand to 5,500 outlets over the next five years). However, 2W segment accounts for 30% of CSTRL total volumes, which may be hugely impacted by EVs. We expect high dividend payouts to continue. Oil drain intervals are expected to rise in the commercial segment for BSVI engines.

Castrol India Ltd. is trading below all available SMAs

Castrol India Ltd.

23 Jun 2020

201.03

0.70%

Castrol

Buy: Castrol India Ltd.

Recommendation Target

Dolat Capital

CSTRL has clocked growth in gross profits due to benefit from lower taxation, volumes de-growth of 4.5% was witnessed due to economic slowdown and flattish revenues were clocked in. Operating profit decline was marginal despite severe raw material headwinds due to unfavourable crude and forex trends. Favourable product-mix changes as well as appropriate pricing interventions have helped buoy the revenues. New product launches, moving into adjacencies and OEM tie up will further help in volume growth. CSTRL is ready with a range of BSVI products to cater to...

Castrol India Ltd. is trading below all available SMAs

Castrol India Ltd.

17 Jun 2020

201.03

0.70%

Castrol India: Q1CY20 Result Review

Buy: Castrol India Ltd.

Target

IDBI Capital

We lower our CY20 volume forecast due to likely weak volumes during Q2CY20 on the back of extended lockdown. Our CY20 sales/EBITDA/EPS estimates are lowered by 6.1%/7.9%/8.2%. We make minor changes to our CY21 forecasts. We value the stock at a PER of 18x CY21E EPS (earlier Rs17x) and derive a target price of Rs138 (previous Rs139). We maintain our BUY rating on the stock. Key Highlights and Investment Rationale Volumes fall sharply: Castrol's sales volumes fell 24.6% YoY to 38 mn ltrs due to weak demand from auto as well as due to lockdown in late March. Even realization at...

Castrol India Ltd. has an average target of 238.50 from 2 brokers.

Castrol India Ltd.

04 Feb 2020

201.03

0.70%

Castrol India

Hold: Castrol India Ltd.

Recommendation Target

ICICI Securities Limited

Castrol India's operating revenue for Q4CY19 declined 2.1% YoY to | 1011.8 crore. Volumes at 54 million litre remained flat YoY. The company witnessed an increase of 7.5% YoY in gross margins at | 108.1/litre due to a better product mix. Subsequently, EBITDA/litre was at | 63.2/litre, up 7.5% YoY. EBITDA came in at | 341.2 crore, up 7.5% YoY. The company shifted to a...

Castrol India Ltd. has an average target of 238.50 from 2 brokers.

Castrol India Ltd.

03 Feb 2020

201.03

0.70%

Cost rationalization enhances margins

Buy: Castrol India Ltd.

Target

Motilal Oswal

3 February 2020 Total volumes for CY19 were 4% lower YoY to 204m liters, while realization was 4% higher YoY to INR190/liter (highest ever). Gross margin was 11% higher YoY to 104.4/liter, led by reported record-high gross margins of INR108/liter (+7% YoY) in 4QCY19. The improvement in realization and gross margin for full-year CY19 was aided by improved product mix and robust cost control, led by process efficiencies and debottlenecking in 3QCY19. CSTRL has been increasing its dividend since the last three years and has recommended total dividend of INR5.5/share for CY19. At current levels, dividend yield remains attractive at ~3.7%, maintain 4QCY19 reported net sales were ~5% below estimate at INR10.1b (-2% YoY), owing to lower realization at INR187/liter (-3% est. -2% YoY). Sales volume came in line at 54m (flat YoY). However, EBITDA was 10% above est.

Castrol India Ltd. has an average target of 238.50 from 2 brokers.

Castrol India Ltd.

15 Nov 2019

201.03

0.70%

Castrol India Ltd Target Price 171

Buy: Castrol India Ltd.

BP Wealth

Castrol India Ltd. is trading below all available SMAs

Castrol India Ltd.

31 Jul 2019

201.03

0.70%

Castrol India: Q2CY19 Result Review

Buy: Castrol India Ltd.

Target

IDBI Capital

We cut our volumes/realization estimates for CY19/CY20 given weak demand from auto OEMs. Overall our net sales/EBTIDA stand lowered by 7%/12% for CY19 and 5%/8% for CY20, respectively. We cut our target multiple from 24x to 20x as we now expect EPS to grow at a CAGR of only 6% over CY18-20E. Nevertheless, Castrol is currently trading at an attractive valuation (PE of 15.6x CY20E). Our revised target price...

Castrol India Ltd. is trading below all available SMAs

Castrol India Ltd.

30 Jul 2019

201.03

0.70%

Castrol

Accumulate: Castrol India Ltd.

Recommendation Target

Dolat Capital

CSTRL's Q2CY19 volumes were in line with our estimates at 55.4 TKL. Revenue increased 2.2% YoY and by 6.5% QoQ, due to growth in the personal mobility segment, focus on channels, and new premium products. Gross spreads declined by 2% on a sequential basis. We expect spreads to remain stable/expand going forward, as CIL has already hiked prices in Q1CY19. CIL has been continuously working on protecting margins with sustainable growth. Management expects H2CY19 to boost volumes and they maintain they guidance between 2%-4%. Volume growth with spreads...

Castrol India Ltd. is trading below all available SMAs

Castrol India Ltd.

30 Jul 2019

201.03

0.70%

Volumes suffer; preparing for the uncertain times ahead

Buy: Castrol India Ltd.

Target

Motilal Oswal

Volumes suffer; preparing for the uncertain times ahead Net sales increased 2% YoY to INR10.4b (~7% miss) in 2QCY19. EBITDA was up 13% YoY at INR2.8b, while PAT grew 11% YoY (-1% QoQ) to INR1.8b (12% miss). Total expenditure of INR7.5b was flat YoY but increased 9% QoQ due to spending...

Castrol India Ltd. is trading below all available SMAs

Is Castrol India Ltd. worth buying?

789 Votes:

Buy 80.23%

Sell 10.65%

Hold 9.13%

RESEARCH REPORTS

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