Castrol India Limited updates on business after partial relaxation of lockdown

The agricultural season led to relatively good demand pick up towards end April and in May, despite the lockdown, though much lower than last year. Post partial relaxation in the lockdown, the Company started witnessing demand pick up for products relating to two-wheelers. With staggered curtailment of movement, with sealed borders in some states, containment zones and hot spots being created, as Covid cases continue to surface, the situation remains very dynamic. This has led to uncertainty of momentum in June and beyond, given varying estimates of the timing of the peak of the Covid pandemic in India.

This has been coupled with other natural calamities like severe cyclones (Amphan, Nisarg) which also affected parts of India, and some minor earthquakes in different parts of the country.

Despite these external challenges, disruptions and some logistical challenges, it is encouraging that with its robust supply chain capability and distribution network, the Company has been able to service most of the demand.

All the plants have safely resumed operations at partial capacity, keeping safety and wellbeing of our people as the top priority and adhering to local government advisories. The warehouses and distributors are also operational enabling the Company meet customer demands from across the country and across industries.

The Company continues to closely monitor the situation and take necessary steps to protect the long-term health and sustainability of the business.

Shares of CASTROL INDIA LTD. was last trading in BSE at Rs.118.2 as compared to the previous close of Rs. 121.9. The total number of shares traded during the day was 69514 in over 1737 trades.

The stock hit an intraday high of Rs. 122.6 and intraday low of 116.85. The net turnover during the day was Rs. 8299145.

Source : Equity Bulls

Keywords