Castrol India : Outcome of Board Meeting- 26 April 2021 pdf / 1.2 MB

Castrol India Limited

Registered Office: Technopolis Knowledge Park, Mahakali Caves Road, Andheri (East), Mumbai - 400 093.

(CIN: L23200MH1979PLC021359)

Website: www.castrol.co.in, Tel: [phone], Fax: [phone], Email - [e-mail]

Statement of Unaudited Financial Results for the Quarter Ended 31 March 2021

(Rupees in Crore)

Particulars	Quarter	Quarter	Quarter	Year
	Ended	Ended	Ended	Ended
	31.03.21	31.03.20	31.12.20	31.12.20
	Unaudited	Unaudited	(Refer Note 6)	Audited
Revenue From Operations	1,138.7	688.0	935.2	2,996.9
Net Profit after tax	243.6	125.2	187.7	582.9
Equity Share Capital	494.6	494.6	494.6	494.6
Total Comprehensive Income for the period	243.6	125.2	191.4	586.6
[Comprising Profit for the period (after tax) and Other Comprehensive
Income (after tax)]
Earnings Per Share (EPS) (Face value of share of Rs. 5/- each)	2.46 *	1.27 *	1.90 *	5.89
(Rs.) (Basic and Diluted) (Not Annualised) *

Notes :

1. The above is an extract of the detailed format of quarterly financial results filed with the stock exchanges under Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The full format of quarterly financial results is available on the stock exchange websites. (www.bseindia.com and www.nseindia.com) and the Company's website (https://www.castrol.com/en_in/india/investors/financial-results.html).
2. The financial results have been prepared in accordance withIndian Accounting Standards ("IND AS") notified under section 133of the Companies Act ("the Act")read with Companies (Indian Accounting Standards) Rules, 2015 as amended.
3. The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 26 April 2021.
4. The above results have been subjected to "Limited Review" by the Statutory Auditors of the Company.

• The Company's business segment consists of a single segment of "Lubricants" in accordance with the requirements of Indian Accounting Standard (Ind AS) - 108 Operating Segment. Accordingly, no separate segment information has been provided.

• The figures of the quarter ended December 31, 2020 are the balancing figures between audited figures in respect of the full financial year ended 2020 and the published year to date figures up to September 30, 2020

• Employee benefit expenses include one time cost of Rs. 16.8 crore and Rs. 19.5 crore for the quarter and year ended 31 December 2020 respectively towards Organisation Transformation and Restructuring Programme implemented during the previous year.

1. Estimation of uncertainties relating to the global health pandemic from COVID-19: The Company has considered the possible effects that may result from the pandemic relating to COVID-19 in the preparation of the financial results including the recoverability of carrying amounts of financial and non-financial assets. In developing the assumptions relating to the possible future uncertainties in the global economic conditions because of the pandemic, the Company has, at the date of approval of the financial results, used internal and external sources of information and expects that the carrying amount of these assets will be recovered. The impact of COVID-19 on the financial results may be different from that estimated as at the date of approval of these financial results
2. The Parliament of India has approved the Code on Social Security, 2020 (the Code) which may impact the contributions by the Company towards provident fund, gratuity and ESIC. The Code has been published in the Gazette of India however, the effective date has not yet been notified. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective, if any.

	FOR CASTROL INDIA LIMITED
Dated : 26 April 2021	Sandeep Sangwan
Place : Mumbai	Managing Director
	DIN : 08617717

Castrol India Limited

Registered Office: Technopolis Knowledge Park, Mahakali Caves Road, Andheri (East), Mumbai - 400 093.

(CIN: L23200MH1979PLC021359)

Website: www.castrol.co.in, Tel: [phone], Fax: [phone], Email - [e-mail]

Statement of Unaudited Financial Results for the Quarter Ended 31 March 2021

			(Rupees in Crore)
	Quarter	Quarter	Quarter	Year
Particulars	Ended	Ended	Ended	Ended
	31.03.21	31.03.20	31.12.20	31.12.20
	Unaudited	Unaudited	(Refer Note 5)	Audited
Income
Revenue From Operations	1138.7	688.0	935.2	2996.9
Other Income	14.3	19.8	15.3	62.0
Total Income	1153.0	707.8	950.5	3058.9
Expenses
Cost of raw and packing Materials Consumed	472.3	330.2	365.7	1173.9
Purchases of traded goods	52.6	30.0	38.1	116.5
(Increase) / decrease in inventories of finished goods /	0.6	(64.7)	(24.0)	(24.1)
traded goods
Employee Benefits Expense (Refer Note 6)	50.1	53.7	69.7	219.8
Finance Cost	0.6	1.1	0.8	4.2
Depreciation and Amortisation Expenses	21.5	22.2	22.3	86.6
Other Expenses	223.0	165.8	228.1	696.7
Total Expenses	820.7	538.3	700.7	2273.6
Profit Before Tax	332.3	169.5	249.8	785.3
Tax Expenses
Current tax (net of reversal of earlier years)	92.3	45.1	61.8	207.4
Deferred tax	(3.6)	(0.8)	0.3	(5.0)
Total Tax Expenses	88.7	44.3	62.1	202.4
Profit after tax	243.6	125.2	187.7	582.9
Other comprehensive income / (expenses) not to be reclassified
to profit or loss in subsequent period
Re-measurement gains / (losses) on defined benefit plans	-	-	4.9	4.9
Less : Income tax effect on above	-	-	(1.2)	(1.2)
Total Comprehensive Income for the period	243.6	125.2	191.4	586.6
Equity Share Capital	494.6	494.6	494.6	494.6
Earnings Per Share (EPS) (Face value of share of Rs. 5/- each)
(RS.) (Basic and Diluted) (Not Annualised) *	2.46 *	1.27 *	1.90 *	5.89
See accompanying notes to the Financial Results
			FOR CASTROL INDIA LIMITED
Dated : 26 April 2021			Sandeep Sangwan
Place : Mumbai			Managing Director
				DIN : 08617717