Castrol India Limited Announces Unaudited Financial Results for the Half Year Ended June 30, 2007

Mumbai, Maharashtra, India

Castrol India Limited has declared its second quarter results for the period April to June 2007. Net sales for the quarter is up by 13%, PBT is up 40% and PAT up by 32% over the same period last year.

The Board of Directors has recommended an interim dividend of Rs.4.50 per share for the half year ending 30th June 2007.

Commenting on the results, Naveen Kshatriya, Managing Director, Castrol India Limited, said, "Castrol India has achieved record results in Q2 with significant growth in revenue and profits. On an underlying basis, after removing exceptional items, the operating profit grew by 75%. This has been driven by better margins, attributed to better price realizations and improved product and customer mix. The raw material cost environment, while softening against Q1, continues at a very high level and is still on par with Q2 '06. The company believes that the Indian lube market is fast upgrading to higher standards in terms of lubricant technology and consumer/customer expectations in quality and service. Our leading edge 'new generation' products for modern applications deliver superior value to our discerning customers who are willing to pay for quality. The company is confident of maintaining its margins by continually leading through innovation in technology, customer service and value propositions. The competition remains intense and the future quarters would call for continued competitive agility and high focus on material and operating costs."

Castrol has stepped up brand investment substantially in the last quarter with focus on the premium portfolio, targeted at cars and bikes. Castrol Power1 Throttlemax, a popular event involving passionate bikers was successfully run across the country. Castrol BikeZone, the company's world class bike servicing offer continues to expand and excite the target customers.

The outlook for the rest of the year is positive, aided by a good monsoon and fast growing automotive sector. There could be challenges arising from strengthening of crude prices and consequent inflationary pressures.

About Castrol India Limited

Castrol India Limited is a public limited company in which 70.92 % of the paid-up capital is held by Castrol Limited, U.K which is a part of BP group worldwide. Starting off as a trading unit in India, Castrol has grown to become the largest lubricant company in the retail automotive segment. Castrol has constantly demonstrated its commitment to Indian consumers by offering world class products, backed by the highest level of customer service. Castrol India is acknowledged as the technology leader in the Indian lubricants industry.

To view the press release along with the tables and unaudited financial results, please click on the links given below:

Press Release

Unaudited Financial Results

Source: Castrol (Business Wire India)

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