Castrol India Limited reports highest-ever revenue
Annual revenue growth of 6%, PBT up 6%
03 February, 2025
Mumbai
Castrol India Limited (BSE: 500870; NSE: CASTROLIND) has announced its results for the fourth quarter (4Q) and full year ended 31 December 2024 (FY24). The Company follows the calendar year (January to December) for its financial reporting.
For the full year ended 31 December 2024, the Company registered Revenue from Operations of ₹ 5365 Crore, recording a steady growth of 6% over ₹5075 Crore in the year ended 31 December 2023. Profit Before Tax for 2024 stood at ₹1258 Crore, marking a growth of 6% from ₹1181 Crore in 2023. The Profit After Tax for 2024 stood at ₹927 Crore, marking a growth of 7% from ₹864 Crore in 2023.
For 4Q, from October to December 2024, the Company registered Revenue from Operations of ₹1354 Crore, achieving a growth of 7% over ₹1264 Crore in 4Q 2023. Profit Before Tax for 4Q 2024 stood at ₹371 Crore, marking a gain of 14% from ₹324 Crore in 4Q 2023. The Profit After Tax for 4Q 2024 stood at ₹271 Crore, registering a growth of 12% from ₹242 Crore in 4Q 2023.
Commenting on the annual performance, Kedar Lele, Managing Director, Castrol India Limited, said, “2024 was a year of significant progress for Castrol India. We introduced meaningful innovations in key product categories and enhanced our market reach. Castrol EDGE continued to set high standards for lubricants in high-performance cars, while CRB TURBOMAX+ CK4 is delivering improved performance for India's trucking fleet. For our industrial partners, we advanced rust protection through customised solutions. We also strengthened our presence in rural India, now reaching over 36,000 workshops and stores, as part of our wider network of over 143,000 outlets across the country. This extensive reach enables millions of consumers to trust Castrol to keep their vehicles running efficiently. That trust inspires us to continuously innovate and serve better.”
“In 2025, we will continue the promise by focusing on the delivery of high-quality products and services to the automotive and industrial sectors. A key milestone this year is the relaunch of ACTIV, our biggest brand, in the first quarter. Improving our footprint in rural India is going to be a priority, along with introducing innovative service offerings across regions. Making Castrol more accessible and affordable has been a key strategy, and we intend to scale it further to get more consumers into our network. With a strong focus on customer needs and resilient manufacturing, we aim to strengthen our leadership in the industry,” Mr. Lele added.
Mr. Deepesh Baxi, Chief Financial Officer, Castrol India Limited, said, “Our 2024 performance reflects our ability to balance growth and profitability in a volatile geo-political environment. Optimising costs, operational efficiency along with timely pricing strategies, helped strengthen our margins while staying aligned with our strategic goals. Our consistent focus on sound financial management ensures that we are well-prepared for the opportunities and challenges that lie ahead.”
To commemorate Castrol’s journey of 125 years globally and celebrate Company’s strongest year in India, the board has recommended a final dividend of ₹9.5 per share (face value: ₹5 each) including a special dividend of ₹4.5 per share for the financial year ending 31 December 2024. This is subject to shareholder approval at the 47th Annual General Meeting. This takes the total dividend for 2024 to ₹13/- per share, reflecting the Company’s commitment to its shareholders for their continued support over the past four decades.
Key highlights from Castrol India in 4Q and FY24 included:
- Product innovation and expansion:
- Launched Castrol EDGE variants for SUVs, hybrids, and European vehicles.
- Introduced CRB TURBOMAX+ CK4, a premium lubricant for trucks.
- Expanded the Auto Care range with Castrol Microfibre Cloth and Shiner Sponge, gaining traction across ~60,000 outlets and e-commerce platforms.
- Developed four rust-preventive solutions—Rustilo DW 800/806/809/812—offering superior performance and environmental benefits.
- Inaugurated a state-of-the-art technology centre at Patalganga for to drive product innovation, with blending, analytical testing, and future plans for advanced EV and data center testing.
- Installed state of the art filling lines at our plants in Paharpur and Silvassa.
- Brand building:
- Shah Rukh Khan endorsed Castrol EDGE with the ‘Stay Ahead’ campaign, amplifying visibility across digital, TV, and outdoor platforms.
- Engaged truckers through the CRB TURBOMAX Pragati Ki Paathshaala campaign, engaging over 70,000 truckers across 35 cities.
- Promoted motorcycling talent with the Castrol POWER1 Ultimate MotoStar initiative, offering training at the Castrol Honda LCR MotoGP™ Team’s European facility.
- Expanded footprint:
- Presence in over 36,000 workshops and retail outlets to expand its rural footprint.
- National network now spans ~143,000 outlets, including 600 Castrol Auto Service centers, ~29,500 independent workshops, and 10,000 multi-brand car workshops.
- Sustainability and community engagement:
- Increased recycled content in HDPE plastic bottles to 50%.
- Trained over 30,000 truck drivers and 15,000 mechanics in 2024, empowering ~500,000 individuals since inception of CSR initiative.
- Commissioned rainwater harvesting and solar power projects at its Silvassa plant, reducing CO2 emissions by 45%.
- People and culture:
- Welcomed Mr. Rakesh Makhija as Chairman, Mr. Kedar Lele as Managing Director, and Ms. Satyavati Berera as Independent Director and Audit Committee Chairperson.
- Launched #MeriCastrolKahaani, a social media campaign celebrating employee stories.
- Rewards and recognition:
- Castrol receives Innovation & Technology award form Tata Motors and JCB.
- Paharpur plant: Apex India Green Leaf Platinum for Plant Efficiency.
- Patalganga plant: OHSSAI Gold award, National safety council Maharashtra certificate of Merit, NSCI certificate of appreciation.
- Silvassa plant: Fire safety excellence award.
- Patalganga achieved nine years and Paharpur completed seven years of Days Away from Work cases free operations.
- Achieved 12 years of injury-free operations at Castrol CMS sites (providing end-to-end lubrication management services).
- Our marketing campaigns have won over 30 awards both nationally and internationally.
Notes to editors:
Summary of CIL financial results and comparison to last year and quarter
*CIL follows a calendar year basis (CY: January to December) for financial reporting
| (Figures in ₹ Cr) | 4Q 2024 (Oct – Dec) |
4Q 2023 (Oct – Dec) |
FY 2024 (Jan – Dec) |
FY 2023 (Jan – Dec) |
|---|---|---|---|---|
Revenue from operations |
1354 |
1264 |
5365 |
5075 |
Profit before tax |
371 |
324 |
1258 |
1181 |
Profit after tax |
271 |
242 |
927 |
864 |
[1] The new packaging includes a 100% PCR plastic bottle and a non-PCR plastic cap. The label on the pack is made from paper.
About Castrol India Limited
Castrol India Limited, part of the bp group, is a leading lubricant company with a 115-year presence in India. Known for its innovation and high-performance products, Castrol offers trusted brands like Castrol CRB, Castrol GTX, Castrol Activ, Castrol MAGNATEC, Castrol EDGE, and Castrol POWER1. Serving various sectors including automotive, mining, machinery, and wind energy, Castrol India operates three blending plants and a wide distribution network, reaching over 150,000 retail outlets nationwide. Globally, Castrol has been driving technological advancements for 125 years. For more information, please visit www.castrol.co.in.