Castrol India Limited (CASTROLIND)
Small CapEnergy stocks · Small cap · NSE
Castrol India Limited is a leading lubricant company with over 115 years in India, operating 3 plants and a tech center. It boasts ~150K retail outlets and ~43K rural outlets, serving 90+ OEM customers. It is India's most trusted lubricant brand, selling 8 litres every second.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Investable fundamentals, management trust is supportive, price trend supports entry, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Excellent · 100/100Rev +25% YoY · PAT +43% YoY · margin expansion · +21% QoQ · operating leverage
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,871 Cr | +25.0% | +21.1% |
| EBITDA | ₹494 Cr | +41.1% | +50.2% |
| Operating margin | 26.0% | +300 bps | +500 bps |
| PAT | ₹348 Cr | +42.6% | +43.8% |
| PAT margin | 18.6% | +230 bps | +294 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
Castrol India reported strong 1Q CY26 results with Revenue from Operations up 8.4% YoY, EBITDA up 13.4% YoY, and PAT up 12.8% YoY, driven by over 8% average growth in volume sold.
The company demonstrated robust financial performance in 1Q CY26, with double-digit growth in EBITDA and PAT. Strategic initiatives in distribution expansion, product innovation, and digital engagement are supporting growth, despite the ongoing bp stake sale process.
Rural Market Expansion
Rural India is emerging as a key growth driver for personal mobility, with ~43K rural outlets and ~700 Rural Service Expresses.
Premiumisation in Urban Mobility
Growth in passenger vehicle sales driven by rising SUV adoption and increasing pre-owned car consumption in urban markets.
Industrial Demand Growth
Expansion of India’s manufacturing sector and infrastructure buildout are driving industrial demand growth.
Digital Engagement
Strengthened digital engagement ecosystem, with FastScan (verified mechanic network) growing to 164K.
State-of-the-art Technology Centre
Inaugurated a new technology centre at Patalganga in 2024.
Infrastructure Development
Large-scale investments in roads, construction, and logistics are driving demand in building, construction and fleets segments.
Increasing Personal Mobility
Growth in passenger vehicle sales and two-wheeler sales, with significant untapped household ownership.
Manufacturing Sector Expansion
India’s manufacturing sector is contributing ~25% to GDP, strengthening industrial demand.
Change in Ownership Structure
bp announced sale of ~65% stake in Castrol to Stonepeak; the transaction is underway, and updates will be communicated.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The investor presentation provides financial data for 1Q CY26 compared to 1Q CY25, 1Q CY24, 1Q CY23, and 1Q CY22, indicating a primary focus on year-over-year performance trends.
Volume Sold Growth
Average growth in volume sold vs 1Q 2025 was >8%.
Market Share
#1 market share across automotive categories (NielsenIQ, 12 states, Urban, Q1'26).
Retail Distribution Footprint
Expanded national distribution footprint to ~150K outlets, including 43K outlets across 9K villages.
Mechanic Network (FastScan)
Digital engagement ecosystem, FastScan, grew to 164K verified mechanics.
Diversifying for Future Mobility
Focus on Autocare range, services, EV-ready fluids, data centre cooling solutions, and re-refined base oil solutions.
Boosting Industrial Performance
Expanding industrial portfolio to high-growth sectors with localized products and Chemical Management Services.
Network Expansion Target
Best-in-class distribution, now targeting the next 50K outlets.
Leveraging Mechanic Network
7 lakh mechanics to drive trials at scale using our digital stacks.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Distribution Outlets | ~150K outlets (including 43K rural) | Progress towards the target of adding another 50K outlets. |
| FastScan Mechanic Network | 164K verified mechanics | Continued growth and engagement within the digital mechanic network. |
| Volume Sold Growth | >8% in 1Q CY26 vs 1Q CY25 | Sustained volume growth, especially from rural and industrial segments. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
68Bullishfull bull SMA stack · MACD +
Technical chart
CASTROLINDdaily · 1Y · AUTO+2.0%Daily technical trend read
Bullish setupTrend is constructive — long-term uptrend intact. RSI 62.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 62 — rising, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 10% off 52W high · 12% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Relative Strength & Trend Stage
- Price is within 3.2% of the 30-week proxy.
- The 30-week proxy changed +0.1% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
Valuation & score drivers
U-Score 64 · UNDERVALUED · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 64 · UNDERVALUED · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
UNDERVALUEDWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- FCF yield is supportive at 6.8%.
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 24.3%.
Main drags
- Valuation is weaker at 7/30; verify the latest quarterly trend.
- Growth is weaker at 11/25; verify the latest quarterly trend.
- Balance sheet is weaker at 12/15; verify the latest quarterly trend.
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: -2 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
High Trust: Claim history is still being built. It ranks around the 99th percentile of the scored universe and 95th percentile within Energy. No major sub-score weakness stands out.
High Trust Lite: Promoter pledge is zero.
Management behaviour ranks as unusually reliable. Still verify valuation and cycle risk.
overall median 67 · Energy: 95th pctile, median 74 · Small: 100th pctile, median 66
72 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
High Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is 6.9%.
- ▸12 years of positive FCF.
- ▸Debt/equity is 0.03.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 17.40
- P/B
- 9.84
- EV/EBITDA
- 11.64
- Market Cap
- 18820.00Cr
Profitability
- ROE
- 45.90%
- ROCE
- 60.30%
- ROA
- 27.37%
- Dividend Y
- 4.60%
Growth (CAGR)
- Revenue 5Y
- 14.00%
- EPS 5Y
- 10.00%
- Revenue 3Y
- 6.00%
- EPS 3Y
- 6.00%
Balance Sheet
- Debt/Equity
- 0.03
- Interest Coverage
- 189.25×
- Altman Z
- 9.31
- Book Value
- 19.30
Cash Flow
- FCF Yield
- 6.85%
- FCF Positive Y
- 12/5
- OCF
- 1090.00 Cr
- EPS TTM
- 10.74
Shareholding
- Promoter Hold
- 51.00%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 49%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
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Peers
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Peers
Business-comparable peers in Energy — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.