CASTROLIND / Q3-FY26 / claim-ledger

Audit the questions that mattered.

Castrol India · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ3-FY26 · 2026-02-10Back to quarter ↗

Questions audited

10

Answered directly

65%

Numeric claims

3

Consistency

mixed

Question ledger

What was answered, and how?

Naim Patel · Bastion Research

direct

Are lubricant additives sourced internally or from external suppliers?

We have a variety... certain additives core molecules that we develop internally... and there are certain additives which we procure from our global partners... We do both.

Naim Patel · Bastion Research

partial

What is the mix of internal vs external additive sourcing?

A majority of that is something that we source from our strategic partners.

Nitan Tari · Philip Capital

partial

What is the volume number for the quarter in million liters?

While specifics of how many millers we don't usually share... upwards of 60 milliliters in all our quarters... about a 63 64 would be a good ballpark for this quarter.

Nitan Tari · Philip Capital

direct

Why is margin compressing despite volume growth?

We've given our guidance as operating margin in the range of 21 to 24%. As we close the financial year 25, we actually closed it right at the top of range... there is a dilution... as we change our business mix towards the industrial side... we have chosen to invest in the business.

Nitan Tari · Philip Capital

partial

Do you see data center demand as a growth opportunity?

It is indeed very very small for us right now... we do think it's a good opportunity for the future... we have trials that are ongoing... still at a very early stage to project.

Sabri Hazarika · MK Global Financial Services

direct

Are you fine with current plant capacity or need expansion?

We feel that we are adequately equipped to release capacity... we'll be able to support the growth for the next couple of years at least.

Sabri Hazarika · MK Global Financial Services

partial

Is 90-91% dividend payout sustainable?

90% is industry-leading payout ratios... even without those special dividend our payout dividend payout is usually you know 4.8 5%.

Loes · Ion Capital

evasive

How does BP's stake sale in Castrol global impact Indian operations?

It's business as usual for us over here... Castrol in India remain a very big market for Castrol globally and we are focused on executing on our plan.

Loes · Ion Capital

partial

Quantitative update on EV fluid sales and OEM approvals?

About 70% of the OEMs especially in cars have approved Castrol products... it is not a material part of our business today... EV margins would be at the same range as if you have a pure automotive business.

Vijay Pande · Nuama

direct

How will EV transition impact lubricant demand and product mix?

The penetration level of personal mobility in India is quite low... the contribution of pure EV within that today is still small... in the medium term hybrids and ICE will remain the backbone.

Daval Popit · Choice International Limited

direct

Can local base oil procurement increase and reduce FX impact?

We import about slightly more than half... we would like to continue... it doesn't protect us from foreign exchange fluctuations because base oil is a commodity priced in dollars.

Mander A · Investo

partial

What is the revenue mix between B2B and B2C and product mix within automotive?

Out of my automotive sales, 65-70% still is in the retail segment... Industrial is still relatively small at about 12-13% but growing very fast.