Castrol India posts strong performance in July-September quarter

Castrol India has recorded a strong performance in the third quarter of 2020, while being focused on three priorities during the continuing pandemic – protecting its people, supporting communities and protecting the financial health of its business.

Sandeep Sangwan, Managing Director, Castrol India

Robust working capital management which saw the company generate Rs. 624 crores net cash from operations in the first nine months of 2020, which is more than 150% of PAT, along with judicious cost and efficiency management programmes have helped it maintain a current strong liquidity and financial position to be able to meet any near-term challenges.

Sandeep Sangwan, Managing Director, Castrol India, said: “Partial revival of pent up demand, a robust supply chain and distribution network, investment in our brands along with judicious working capital management contributed to us delivering a good set of numbers, including growth across all spaces.

Our team has displayed exceptional commitment to ensure uninterrupted production at our three manufacturing plants, aligned with government safety and health advisories, to meet customer demand as well as new customer wins, acquisitions and virtual customer engagements have been made possible by teams working from home during the lockdown.”

 Castrol has focused on brand-building initiatives this quarter with its power brands on television and digital media including Castrol Activ, Castrol CRB range and Castrol MAGNATEC. Two new variants were launched in the cars and two-wheeler category with Castrol GTX SUV and Castrol Activ CRUISE respectively in the thinner oils segment.

Shedding light on some of the recognitions that came its way during this quarter, Sangwan shared: “Our Patalganga plant was recognized with the National Safety Council of India Award for its leadership and implementation of HSSE programmes while our Paharpur plant won a platinum award at the Apex India Occupational Health & Safety Awards 2020 and gold at the National Occupational Health & Safety Awards 2020 organized by Indian Chamber of Commerce. We also celebrated a double win at the prestigious Asia Pacific Effie Awards where our marketing campaigns for Castrol Super Mechanic and Castrol Activ nonstop democracy were recognized.”

He continued: “Similarly, we received accolades from our OEM clients with Ford recertifying the Silvassa plant with the Ford Q1 certification, making Silvassa plant the only lubricants plant in Asia Pacific region to hold this coveted award. Castrol India also received the highest rating in Schaeffler’s supplier evaluation on quality, delivery, environment and HSSE criteria.”

In this quarter, Castrol has relaunched its CSR community programmes through virtual training initiatives for truckers and mechanics. The trainings have been modified bearing the pandemic in mind and focus on emotional and physical well-being, awareness on health and hygiene practices along with methods to effectively manage finances.