Castrol India Limited: Facts & Figures


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Re: Castrol India Limited: Facts & Figures Thread

Mahindra Enters Into Strategic Partnership with Castrol India

Set to endorse range of tractor fluids from Castrol under “Mileage ka Master” brand

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Hemant Sikka, President & CPO, Power & Spares Business, Member of the Group Executive Board, Mahindra & Mahindra Limited (left) and Omer Dormen, Managing Director, Castrol India Limited at the signing ceremony of the strategic partnership between Mahindra and Mahindra Limited and Castrol India Limited

Mumbai, October 11, 2018: Mahindra & Mahindra, part of the USD 20.7 billion Mahindra Group and Castrol India, the leading automotive and industrial lubricant manufacturing company in the country, today announced the signing of a new strategic partnership agreement between the two companies. Under this agreement, Mahindra will endorse a range of Castrol products which include aftermarket engine oils and transmission fluids for Mahindra tractors under the brand, “Mileage Ka Master” (MKM).

The agreement was signed by Mr. Hemant Sikka, President & Chief Purchase Officer, Powerol & Spares Business, Mahindra & Mahindra Limited and Omer Dormen, Managing Director, Castrol India Limited, at a ceremony held in Mumbai.

Commenting on the partnership at the signing event Hemant Sikka President & Chief Purchase Officer, Powerol & Spares Business, Mahindra & Mahindra Limited said: “We are pleased to join hands with Castrol, the leading lubricants brand in India. Both companies are considered market leaders in their respective sectors - having consistently delivered innovative and pioneering technology to provide unique and differentiated offerings to customers and consumers. The objective is to meet the customers’ need to use recommended fluids by OEMs. We look forward to partnering with Castrol and benefitting from their strong reputation, high quality products and wide-spread distribution network across India through their over 1 lakh strong retail outlets.”

Omer Dormen, Managing Director, Castrol India Limited added, “We are very honoured to be recommended by Mahindra, the largest tractor manufacturer globally. We are pleased with the opportunity to offer Mahindra customers with our latest technology products and with best-in-class service. Both the organisations share similar values thriving on world-class technology, innovation and sustainability for the future. We look forward to an enduring partnership while jointly leveraging exciting growth opportunities”

Based on formulation exclusively developed by Mahindra, for use in their tractors specifically for engine and wet-brake applications, Castrol will supply these products through its wide distribution network across India. The agreement will commence with immediate effect.

About Castrol

Castrol, one of the world’s leading lubricant brands, has a proud heritage of innovation and fueling the dreams of pioneers. Our passion for performance, combined with a philosophy of working in partnership with manufacturers, has enabled Castrol to develop lubricants and greases that have been at the heart of numerous technological feats on land, air, sea and space for over 100 years. Castrol is part of the BP group and serves customers and consumers in over 140 countries in the automotive, marine, industrial and energy production sectors. Our branded products are recognized globally for innovation and high performance through our commitment to premium quality and cutting-edge technology.
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Akash
 
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Castrol India announces Third Quarter 2018 results

Strong volume growth continues

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31 October 2018, Mumbai:

Omer Dormen, Managing Director, Castrol India Limited:

Our focus on strategy is delivering profitable volume growth ahead of the market across segments, setting us up for higher growth in future. Operations are running well with strong focus on investment in brands, capability, distribution expansion and advocacy. Cost and working capital continue to be managed with rigor and we are introducing new, high technology products that contribute significantly to our growth. We have made very good progress with new customer acquisitions and OEM relationships having signed a strategic agreement with Mahindra Tractors recently. This progress all underpins our commitment to growing profitably.”

Generating momentum

· Good operating performance

o The business is running well, with strong volume growth driven by new products launched in last twelve months.

o Strong profitability and cash delivery with judicious pricing actions to recover input cost.

o Volume growth faster than market 6% year to date, comparable revenue growth 10% year to date.

o Personal mobility continues to be a key strategic growth driver; revival of commercial vehicle business; Industrial has also seen improvement

· Strategic delivery

o Increased investment in distribution expansion, brands and advocacy

§ Increased distribution reaching 150,000 outlets across urban and rural markets

§ First time three key brands on television – Castrol Activ, Castrol MAGNATEC and Castrol CRB TURBOMAX

§ Connected with over 100,000 mechanics through Castrol Super Mechanic contest; connected with around 1,35,000 truckers with the Castrol Truck Aasana programme

o New OEM alliance with Mahindra Tractors under the “Mileage ka Master” brand

· High-grading the portfolio

o Close to 90% of our volume growth in 2018 has come from the new products introduced in the last twelve months

o In line with our continued commitment to deliver differentiated technologically superior products with distinctive consumer benefits, the most recent launch being Castrol POWER1 range of lubricants for bikes

· Earnings:

o Revenue from Operations for the quarter was up 8% at Rs.927 crore and for the nine month period was up by 10% at Rs.2,871 crore, compared to the same periods in the previous year.

o Operating Profit for the quarter was at Rs.214 crore. There was adverse impact due to steep depreciation of the Indian rupee and increase in input costs leading to circa Rs.60 crore impact as compared to the same period in previous year. The company has already taken appropriate actions in the market to recover the impact in the quarter. Apart from the input cost increase, Profit After Tax at Rs.150 crore was also adversely impacted by lower ‘Other Income’ from a one-off property sale during the same quarter in the previous year.

o Operating profit for January - September period, at Rs.712 crore, is 3% higher than that of the corresponding period in previous year, after absorbing higher input cost of Rs.116 crore. Profit After Tax during the same period is at Rs.496 crore, which is marginally higher than the same period in previous year
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Rakesh Makhija joins Board of Castrol India Limited
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Mumbai, 1 October 2019
: Castrol India Limited, India's leading automotive and industrial lubricant manufacturing and marketing company, announced the appointment of Mr. Rakesh Makhija as an independent non-executive director to its Board of Directors with effect from 1 October 2019.

Mr. Makhija brings over four decades of significant top management experience with diversified industrial and technology companies. He has held senior sales and general management roles including international ones, having worked across geographies like China and Sweden, besides India.

While he has served as the non-executive Chairperson of SKF India between July 2015 to May 2019, Mr. Makhija has recently been appointed as non-executive Chairperson at Axis Bank, the third largest private sector bank in India in July 2019 for a three-year term.

Mr. Makhija has also held several senior management positions within Tata Honeywell and Honeywell International, the global industrial and aerospace company and Kinetics Technology International BV (now Technip), a process engineering and contracting company in the Netherlands.

He is a chemical engineer from the Indian Institute of Technology, New Delhi and has been recognized with numerous industry awards including the prestigious 'CNBC India Business Leader Award' in 2007 for Talent Management.

Mr. R Gopalakrishnan, non-executive Chairperson, Board of Directors, Castrol India Ltd said: "We are very pleased to welcome industry veteran Rakesh Makhija to the Castrol India Board. With his deep domain knowledge, and experience of leading successful businesses in varied sectors, we look forward to his incisive strategic insights which will add enormous value to the Castrol India business as it aspires to reach new levels of success."

Speaking on his appointment, Mr. Rakesh Makhija said, "I am excited to join the Board of Castrol India. Castrol is a strong brand and an industry leader in India. I look forward to working with the Board and management as it explores new innovative technology solutions to continuously delight its customers and consumers."

About Castrol India: Castrol, is one of the world’s leading lubricant brands and has a proud heritage of innovation and fuelling the dreams of pioneers. Castrol India Limited is one of India’s leading lubricants company and has established itself as a pioneer and innovator in the Indian lubricants industry. Its iconic brands such as Castrol CRB, Castrol GTX, and in more recent times power brands like Castrol Activ, Castrol MAGNATEC and Castrol VECTON, are used by millions of consumers and customers across the country. The company also has a presence in select segments like High Performance Lubricants and metalworking fluids in industries as varied as automotive manufacturing to mining to machinery and wind & energy.

Castrol India has a large manufacturing and distribution network in India with three manufacturing plants and a distribution network of 350 distributors who sell to consumers and customers through over 100,000 retail outlets. Castrol sub-distributors also reach additional outlets in rural markets whilst Castrol India also directly services over 3,000 key institutional accounts.

Besides providing world class products and services, Castrol India is focused on safety, compliance and quality as its number one priority.
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Akash
 
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Castrol Family Connect inspires trucker families to influence enhanced driving safety
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-- Unique Family Connect initiative launched to spread road safety awareness --
-- Two new Castrol Sarathi Mitra centres in Lucknow and Bengaluru to open shortly --


Ajmer, 15 October 2019
: Castrol India, the leading automotive and industrial lubricant company, announced a unique Family Connect initiative to spread road safety awareness among families of truck drivers. The first event held in Ajmer, as part of the Castrol Sarathi Mitra flagship CSR programme, witnessed a gathering of over 400 people including spouses and children of truck drivers where they shared personal experiences about driving safety and pledged to extend this message across the community.

The Castrol Sarathi Mitra Family Connect initiative includes specially curated sessions packed with entertaining games, skits and interactive sessions, for the truckers and their families. These sessions are focused on safe driving themes including night driving, importance of rest and breaks, usage of seat belts and non-usage of mobile phones. Many drivers also shared how the Castrol Sarathi Mitra programme has positively impacted their everyday lives and brought pride to their profession. Some of them were felicitated for following safe driving practices and creating an awareness about driving safety amongst others in their community.

Commenting on this occasion, Omer Dormen, Managing Director, Castrol India said, “With an aim to empower people who matter most to the trucker, we have launched Castrol Family Connect to raise the awareness quotient of the families of truck drivers on safe driving. We hope that this will help influence right driving behaviours amongst the truckers, so that they continue to keep India moving, but more safely.

On this occasion, Castrol India also announced two new Sarathi Mitra centres which are to be opened shortly in Lucknow and Bengaluru taking the number of Castrol Sarathi Mitra centres to seven across India. With the Lucknow and Bengaluru centres aiming to train and upskill over 6,000 truck drivers in the next 12 months, the programme aims to impact a total of 150,000 truck drivers by 2020.
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Castrol India's community initiatives during Covid-19

The COVID-19 situation in India is constantly evolving with the current national lockdown. Castrol India stands united with the Government as #IndiaFightsCorona and is taking all necessary measures to support its employees, support staff, distributors and suppliers during these difficult times.


Customers
Since it is not possible to meet our customers face-to-face at the moment, we are in touch with them through virtual channels. As always, we are fully committed to our customers and have fulfilled requests in the last few days from those who are manufacturing and supplying essential commodities like medical equipment. We continue to work with our customers in this period, to help them sustain through this crisis.

CSR

We are committed to supporting the Government through this pandemic on both medical and social perspectives. As a responsible corporate citizen, Castrol India too has committed its support to actions initiated as part of the country-wide response and

We are working with various NGOs to initiate specific actions in these areas:

  • Medical support in the form of emergency supplies and equipment to Government hospitals across various states including Maharashtra, Telangana, New Delhi, Uttar Pradesh, Karnataka, Tamil Nadu, Chhattisgarh and Haryana.
  • Survival kits including groceries to the migrant daily wage earners and food for those stranded - especially the truck drivers at various transportation hubs.
  • Protective gear to policemen and garbage collectors in key metros.
  • We are also supporting truckers and mechanics through our pan-India outreach programmes; including partial cover for any Covid-19 medical expenses they may incur and initiate programmes to help them and their families tide over the periods of reduced activity.
Campaign:

While the entire nation is thanking all those who are working towards keeping India healthy and safe, Castrol India has started an appreciation campaign for the trucker community through #SaluteTruckers campaign. This campaign not only highlights their efforts and contribution in keeping India moving by ensuring the supply of essential products throughout the country in these tough times, but also allows people from across India to send across goodwill messages to truckers

Campaign

Helping one another is the essence of humanity. Castrol salutes the commitment of people in essential services and local heroes who are working tirelessly so we can stay safe. Castrol India launched the Castrol Activ #HangUpYourKeys – a consumer awareness campaign, which urges people to park their vehicles and extend their support in this fight against the global pandemic by staying at home, yet doing their bit for society and to protect what they really love. The campaign video showcases real life stories of young Indians making a difference in these challenging times. This includes an innovator who has invented an infection-free tap for doctors and nurses, an IT professional buying groceries for the elderly in their area, a teacher collecting funds for the needy, and a mental health professional providing online lessons for dealing with anxiety. The initiative encourages everyone to lend a helping hand in such testing times. #StayHome #StaySafe #HangUpYourKeys and #ProtectWhatYouLove.
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Castrol lubricants to now be available at Jio-bp retail sites

Mumbai, 21 July 2020:
Castrol India Limited, India’s leading automotive lubricants company, today announced that Castrol lubricants will now be available at Jio-bp retail outlets across the country. This new channel offers Castrol enhanced visibility and reach for its products and solutions.

Castrol lubricants will be supplied to the joint venture’s fuel retailing network of 1,400 sites, which is expected to grow to 5,500 sites within five years.

Earlier this month, Reliance Industries Limited (RIL) and bp completed the formation of their new pan-India fuels and mobility joint venture – Reliance BP Mobility Limited (RBML). RIL’s existing sites will be rebranded to Jio-bp in due course.

The decision to make Castrol lubricants available across the network was taken in 2019, when the joint venture was first announced.

Castrol India is delighted to be a part of the Jio-bp network. We will offer a premium experience to our consumers, bringing innovative value-added solutions as together we look to transform the Indian mobility sector,” said Sandeep Sangwan, Managing Director, Castrol India Limited.

Harish C Mehta, CEO, Reliance BP Mobility Limited added “Jio-bp puts consumers at the center of its universe and will offer them differentiated products and services to set new benchmarks in mobility solutions. I am confident that Castrol’s cutting-edge lubricants, together with our fuels and convenience offers, will deliver best in class experience for Indian consumers visiting our outlets.”

Castrol products will be available at the RBML retail network in the coming weeks.
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Castrol India announces 2Q (April - June) and 1H (Jan - June) 2021
- Maintains strong financial delivery in the first half of 2021
- Continued investment in brands yielding good returns

Mumbai, 2 August 2021

Sandeep Sangwan, Managing director, Castrol India Limited:

Castrol India Limited reported a solid financial performance and resilient business delivery in 2Q 2021 maintaining the momentum built over the previous few quarters. We delivered a strong set of numbers with both topline and bottom line seeing good growth versus the same period of last year, which was subdued on account of a national lockdown brought about by the first wave of the pandemic.

  • 2Q revenue from operations @ INR 890 crores (81% higher) and 2Q Profit Before Tax @ INR 190 crores (115% higher)
  • 1H 2021 revenue from operations @ INR 2028 crores (72% higher) and 1H 2021 Profit Before Tax @ INR 523 crores (103% higher)

Owing to the Covid second wave, the quarter saw challenges in the form of localized lockdowns, muted demand, as well as a sharp rise in input costs. Our timely pricing interventions, along with agility and responsiveness helped us navigate this dynamic market situation. We continued to invest in our brands with increased marketing and advertising spends to support value delivery to customers and reinforce brand salience.

In our endeavor to deliver quick and reliable service brand experience to consumers in collaboration with Jio-bp at their retail sites, we recently launched a new concept of Castrol Express Oil change outlets which offer quick oil change service for consumers on-the-go. We also leveraged digital platforms to continue building engagement with the biker community with our high performance synthetics range of Castrol POWER1 ULTIMATE two-wheeler engine oils through performance-imagery led impact properties including Bollywood movie launch Toofaan.

Safety of our people and community support continue to be our strategic priorities along with protecting the financial health of the business during these difficult times. We have conducted vaccination camps for our plant staff who continue to operate our manufacturing plants safely, while implementing Covid-19 safety processes and guidelines as laid out by the government, and also for our employees who continue to work from home.

During this period, we celebrated a key milestone of our manufacturing plant at Silvassa completing 25 years of safe and successful operations. The plant has evolved into an epitome of trust and reliability over the years for our customers including key OEMs, and is considered as one of the most modern lubricant plants in the region.

Our work with the trucker and mechanic communities was recently acknowledged when our flagship CSR programmes were recognized with ‘Excellence in CSR” award by British Business Group Delhi (BBG). The award to Castrol Eklavya for upskilling of mechanics and Castrol Sarathi Mitra programme for holistic development of truck drivers, is a recognition of our endeavours towards sustained livelihoods with pride for these communities, along with recent interventions such as student scholarships, family connect programmes focused on health and wellbeing along with Covid awareness, and community vaccination drives that have helped us forge an even stronger bond with them during the pandemic.

The Board of Directors of the Company has at its meeting held on 2 August 2021 recommended an interim dividend of INR 2.50 per share (2020: Interim dividend INR 2.50 per share; Final dividend INR 3.00 per share). The record date for the purpose of said interim dividend, which would be paid on or before 1 September 2021, is 12 August 2021.
We remain confident of our strong business fundamentals and longer term profitable business growth as the situation returns to a normal state.
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Castrol India Limited announces appointment of Mayank Pandey to Board
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Mumbai, 10 August 2021

Castrol India Limited today announced the appointment of Mayank Pandey as a wholetime director of the company with effect from 9 August 2021.

Mayank is currently Vice President – Supply Chain for Castrol India since 1 January 2021 and has over two decades of industry experience, having spent the last 14 years with bp. He has diverse international market experience leading teams and operations in India, China, Japan, Korea and Europe.

Commenting on Mayank’s appointment Mr. R Gopalakrishnan, the Chairman of the Board said: “On behalf of the Board, I would like to extend a warm welcome to Mayank. We look forward to benefit from his fresh perspective and diverse experience as we rethink supply chain strategies for the company in these disruptive and unprecedented times.”

A management graduate from S P Jain Institute of Management and a mechanical engineer from Harcourt Butler Technological Institute, Mayank is passionate about building high performance teams and customer centricity. He has a professional experience spanning the lubricants, business consulting, paints and engineering industry.

Mayank’s last role was supply chain planning head for Castrol Europe. In his earlier roles at bp, Mayank has led supply chain strategy and transformation for Castrol China, supply chain operations for Castrol North Asia as well as supply chain logistics and planning for Castrol India.
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Castrol India has launched its latest range of Magnatec BS-VI ready engine oils.

The new range also features India’s first 0W-16 engine oil for retail aftermarkets and the all-new Castrol Magnatec SUV, made specifically for SUVs to offer protection from heavy-load wear.​

Press Release
Castrol, India’s leading lubricant brand, announced the launch of its latest range of Castrol MAGNATEC, featuring India’s widest offering of BS-VI ready engine oils for cars and SUVs. The new range also features India’s first 0W-16 engine oil for retail aftermarkets, and the all-new Castrol MAGNATEC SUV, that provides SUVs with proven protection from heavy-load wear.

Post India’s migration to the latest BS-VI emission norms, more cars and SUVs are fitted with after-treatment devices such as Diesel/Gasoline Particulate Filters (DPF/GPF) that are sensitive to Sulphated ash, Phosphorus and Sulphur (SAPS) content. The new Castrol MAGNATEC has reduced SAPS content and is BS-VI ready as per industry specifications of ACEA C2/C3. It also meets API requirements to control the problem of low-speed pre- ignition (LSPI) in gasoline direct injection (GDI) and Turbocharged GDI engines.

The all-new range of Castrol MAGNATEC will be available in four variants, 0W-16, 0W-20, 5W-30 and 5W-40 and will help meet automotive OEMs recommendations for thinner grade lubricants such as 0W or 5W. Each of the variants are based on Castrol’s unique DUALOCK technology that reduces engine wear by 50% (as tested versus Sequence IVA API SN and CEC OM646LA ACEA wear limits).

Welcoming the launch of the new Castrol MAGNATEC range, Jaya Jamrani, Vice President, Marketing, Castrol India, said, “Castrol has always strived to deliver best-in-class products that provide unmatched performance and protection to vehicles. The transition to BS-VI emission norms required refreshed offerings of lubricants with lower SAPS and thinner grades. With our all-new MAGNATEC range, Castrol has led the industry move towards BS-VI compatible lubricants. The new, fully synthetic Castrol MAGNATEC range is designed for BS-VI engines, but is also backward compatible with many older applications.”
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Castrol has unveiled a refreshed brand identity along with a new logo which features a more modern, dynamic, and vibrant design.

The new logo maintains Castrol’s iconic red, green and white colours, which are strongly associated with the brand and is set to improve brand memorability digitally. The brand refresh also includes a new sonic identity.

It has been crafted to enhance the refreshed visual look and feel, with music and sound design that strongly elicits feelings of acceleration, forward-momentum and dynamic movement.

Castrol-Logo-2023.jpg

Press Release:
Castrol, a global leader in lubricants, part of the bp group, today unveils its refreshed brand, including an updated look and feel. The brand refresh is aimed at better reflecting its unique positioning in the market and the opportunities it sees in meeting the changing needs of customers.

Castrol is exploring opportunities to provide solutions and services that will complement its core lubricants business and provide additional value to customers. For example, the company already has a range of advanced EV Fluids including EV Transmission Fluids, EV Thermal Fluids and EV Greases - Castrol ON; and has announced plans to invest around $60 million in a new, state-of-the-art electric vehicle (EV) battery testing centre and analytical laboratory in the UK. Castrol’s ON immersion cooling fluid for use in data centres has now been fully approved by Submer for use across their portfolio of products.

The refreshed brand identity is the result of a comprehensive brand strategy process, which included extensive research, analysis, and input from stakeholders, customers, and industry experts. The updated logo features a more modern, dynamic, and vibrant design, with a focus on our core strengths and differentiators as Castrol aims to broaden appeal with a more diverse customer base in lubricants, services and solutions. It maintains Castrol’s iconic red, green and white colours, which are strongly associated with the brand and is set to improve brand memorability digitally.

"We are excited to launch our refreshed brand, which represents an exciting chapter for our company," said Nicola Buck, chief marketing officer of Castrol. "Our refreshed brand identity reflects our commitment to investing in the future and creating new opportunities for growth and success."

“The worlds of mobility and industry are facing faster-than-ever changes as the world transforms and aims for net zero, and customers want more sustainable solutions. Change is vital for Castrol to thrive. We’re signalling to the world that we are set for the future.”

“I believe that refreshing a globally recognised brand is not just about changing its appearance or messaging,” adds Michelle Jou, CEO of Castrol. “It's about reinvigorating its essence, and relevance in today's world. We need to listen to our customers, understand their evolving needs and aspirations, and leverage our core strengths to be a brand that inspires them. A refreshed brand should not be just a cosmetic exercise; in my view it's a strategic imperative that drives growth, differentiation, and long-term success.”

The brand refresh also includes a new sonic identity. It has been crafted to enhance the refreshed visual look and feel, with music and sound design that strongly elicits feelings of acceleration, forward-momentum and dynamic movement. Castrol's new sonic identity is a powerful future distinctive brand asset that will drive awareness and memorability.

Castrol believe that these changes will provide a more engaging, memorable, and effective brand experience for our audience.

Castrol worked with top branding and design agency Landor & Fitch and leading sonic branding agency MassiveMusic to develop its refreshed brand identity whose expertise and creativity has been instrumental in shaping the refreshed brand.
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Castrol has forayed into Auto Care segment with a new range of products including Chain Cleaner, Chain Lube, 3-in-1 Shiner, 1-Step Polishing Compound and Anti-Rust Lubricant Spray.

The company will continue to explore inclusion of other Auto Care products to cater the customer needs.

Castrol-Auto-Care-Products .jpg

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Castrol India has entered into an agreement with Mahindra Insurance Brokers. This alliance will enable Castrol Auto Service workshops to empanel themselves as Point of Sale Persons for distribution of eligible insurance policies from India’s leading motor insurance providers. The Castrol workshops can offer automotive insurance products via digital platform in addition to repair and maintenance services for their customers’ vehicles.

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Castrol India has announced the appointment of Rohit Talwar as Vice President and Head of Marketing, effective 1 November 2023. He will succeed Jaya Jamrani, who has decided to take a one-year sabbatical.
  • Mr.Talwar will be responsible for steering Castrol's comprehensive marketing strategies to deliver growth and value for its customers and shareholders.
  • Rohit Talwar possesses 21 years of proficiency in leading high-performance multicultural teams across various levels and assignments, locally and globally.
  • His journey with Castrol India commenced in June 2004 when he joined as a Management Trainee and later served as Sales Manager, Bikes Brand Manager, Cricket Sponsorship Activation Manager etc.
  • Since 2019, Mr.Talwar has been leading marketing for Castrol Vietnam. He has overseen both, B2C and B2B marketing initiatives, driving innovation and delivering substantial business growth in Vietnam.
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