# Castrol India share price today (Castrol India Ltd, NSE: CASTROLIND)

> Castrol India share price today: ₹194.01 at the NSE close on 3 November 2026, down 0.5% in a year. Castrol India (NSE: CASTROLIND) is worth ₹19,190 crore, trades at a P/E of 18.7 and has closed between ₹175.08 and ₹201.61 over the past 52 weeks. > Castrol India Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. CASTROLIND · Lubricants · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/castrol-india-ltd

Sector Alpha also publishes a daily newsletter that explains one Indian stock at a time: https://newsletter.sectoralpha.in/?utm_source=sectoralpha&utm_medium=ai_text&utm_campaign=llms

## Key numbers

- Business trend: Growing steadily, from the last 12 quarters
- Price: ₹194.01 (−0.5% in a year)
- P/E: 18.7× (lower than 60% of the last 11 years)
- Revenue (Sep 2026): ₹1,735 Cr (+27.3% on a year ago)
- Profit (Sep 2026): ₹176 Cr (−22.8% on a year ago)
- Operating margin: 15.0% (−9.0 points on a year ago)
- ROCE: 60%, FY25
- ROIC: 90.8%, against a 12.0% cost of capital: +78.8 points

Biggest thing to watch: the price has already been rising for 4 weeks, so timing is the risk more than the business. ## What is the Castrol India share price today? Castrol India Ltd's share price was ₹194.01 at the close on 3 November 2026. It has been rising for 4 weeks. That is 2.1% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹175 and ₹202, and at that close it sat 71% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 11 weeks in a row. Over the last 11 years the share price moved +3% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Castrol India this quarter? Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), lowest operating margin in 16 quarters and profit fell in the September 2026 quarter. 1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) In the September 2026 quarter revenue was ₹1,735 crore, +27.3% on a year earlier. Why: Revenue rose because the company kept its market share across categories and its industrial business sold more, helped by new customers and local products. Next results: check if rural and industrial businesses grow faster than the market, as management expects. From the earnings call on 26 Oct 2026. 2. Lowest operating margin in 16 quarters Operating margin was 15% in the September 2026 quarter, against 24% a year earlier. 3. Profit fell in the September 2026 quarter Profit was ₹176 crore, -22.8% on a year earlier (₹228 crore), after 2 quarters of growth. Why: Profit fell because raw material costs and currency moves squeezed margins, even though revenue rose and early price increases only partly helped. Next results: check the fourth quarter global contract rebate and whether cost increases are being passed to customers. From the earnings call on 26 Oct 2026. ## What dividend does Castrol India pay? Castrol India paid ₹11.50 a share in regular dividends in the 12 months to 4 November 2026 (2 payments), a yield of 5.93% at the ₹194.01 close on 3 November 2026. The last was an interim dividend of ₹6.25 a share, ex-date 11 August 2026. ### Castrol India dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 11 Aug 2026 | ₹6.25 | Interim | same day |
| 23 Mar 2026 | ₹5.25 | Dividend | same day |
| 11 Aug 2025 | ₹3.50 | Interim | same day |
| 18 Mar 2025 | ₹9.50 | Dividend + Special | same day |
| 7 Aug 2024 | ₹3.50 | Interim | same day |
| 21 Mar 2024 | ₹4.50 | Dividend | same day |
| 8 Aug 2023 | ₹3 | Interim | same day |
| 4 May 2023 | ₹3.50 | Dividend | same day |
| 8 Aug 2022 | ₹3 | Interim | 10 Aug 2022 |
| 2 Jun 2022 | ₹3 | Dividend | n/a |
| 11 Aug 2021 | ₹2.50 | Interim | 12 Aug 2021 |
| 22 Apr 2021 | ₹3 | Dividend | n/a |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Castrol India Ltd paid out 91% of its profit as dividends in FY25, and it paid a dividend in each of its last 12 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What are Castrol India's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Castrol India reported revenue of ₹1,735 crore, up 27.3% from ₹1,363 crore a year earlier, and a profit of ₹176 crore, down 22.8% from ₹228 crore. ### Castrol India results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,735 crore | ₹1,363 crore | +27.3% |
| Profit | ₹176 crore | ₹228 crore | −22.8% |
| Earnings per share | ₹1.78 | ₹2.30 | −22.6% |
| Operating margin | 15.0% | 24.0% | −9.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Castrol India's management discussed these results on a call held on 26 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Castrol India share price history? Castrol India closed at ₹194.01 on 3 November 2026, down 0.5% from ₹195.01 a year earlier (31 October 2025) and up 37.6% over five years. Its highest weekly close since March 2016 was ₹266.30 on 23 August 2024. ### Castrol India share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹194.80 | −0.4% |
| 1 month ago · 1 Oct 2026 | ₹199.00 | −2.5% |
| 6 months ago · 30 Apr 2026 | ₹184.82 | +5.0% |
| 1 year ago · 31 Oct 2025 | ₹195.01 | −0.5% |
| 3 years ago · 3 Nov 2023 | ₹133.90 | +44.9% |
| 5 years ago · 4 Nov 2021 | ₹141.00 | +37.6% |
| 10 years ago · 4 Nov 2016 | ₹215.00 | −9.8% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹187.65 | +3.4% |
| Highest weekly close since March 2016 · 23 Aug 2024 | ₹266.30 | −27.1% |
| Lowest weekly close since March 2016 · 27 Mar 2020 | ₹98.85 | +96.3% |
| 52-week high (weekly close) · 28 Sep 2026 | ₹201.61 | −3.8% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹175.08 | +10.8% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Castrol India? 3 Nov 2026: Castrol India closed at ₹194.01, down 0.4% on the week and down 2.5% on the month. 26 Oct 2026: Castrol India held its results call for July to September 2026. Management guided: Overall volumes may remain soft in the short to medium term. ### Earlier

- Our read, 10 Oct 2026: Reported growth improved in the latest quarter, with operating profit rising faster than sales.,Management attributes profitability partly to older inventory and expects delayed input inflation to follow, so the margin improvement is not wholly repeatable.,Premium products and industrial customer additions provide operating possibilities; inconsistent disclosure and unresolved transaction timing limit confidence. - Results for July to September 2026: Revenue up 27.3% and profit down 22.8% on a year earlier. - 11 Aug 2026: ex-date for an interim dividend of ₹6.25 a share. - 23 Mar 2026: ex-date for a dividend of ₹5.25 a share. ### Our read of the business

Reported growth improved in the latest quarter, with operating profit rising faster than sales.,Management attributes profitability partly to older inventory and expects delayed input inflation to follow, so the margin improvement is not wholly repeatable.,Premium products and industrial customer additions provide operating possibilities; inconsistent disclosure and unresolved transaction timing limit confidence. April to June 2026: Reported acceleration needs reconciliation with inventory timing and the call summary. (Our read after the April to June 2026 results, written 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What did Castrol India management say on the latest results call? On the call for July to September 2026, held on 26 October 2026, Castrol India's management guided: Overall volumes may remain soft in the short to medium term. > “Our long-term ambition is to evolve from a lubricants company to a broader mobility solutions and maintenance partner.”
> Saugata Basu Ray, on the call for July to September 2026

### What management guided

- Rural and industrial businesses expected to grow ahead of the market. - Industrial margin expected to remain above its year-earlier level. - Medium-term operating margin profile expected to remain outside the goal range amid continuing volatility. - Longer-term operating margin objective of 21% to 24%. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/383/Conference Call/CC-Oct26.pdf). (From the call for July to September 2026, 26 October 2026.)

## What is the future of Castrol India? What is changing in the business? The changes showing up in Castrol India's own numbers are market share gains. It is too early to say whether they last. Market share gains too early to call

Castrol says it has grown volume 7-8% a year, ahead of the industry, for 8 to 12 straight quarters, and gained about half a percentage point of automotive share to the 'early 20s'. It stopped giving litre figures after Nov 2025 and gave no volume figure at all in the latest call. Why it may last: The brand and distribution behind the gains are long-standing, but the latest call gave no volume figure at all and outlet counts swing between calls, so the current pace cannot be checked. Two more quarters of disclosed volume growth above the industry would settle it. Next check: The Sep 2026 call gives a volume growth figure above the industry's, after the price increases, with gross margin not below the Sep 2025 level of 49.82%. Quarter by quarter, 4 quarters

July to September 2025

7-8% volume growth vs industry; sales up 5.8% with gross margin 49.82% vs 47.78% a year earlier. ✓ fact

From our notes of the call for July to September 2025: Volume growth of 7-8% significantly outpacing industry bottom-line growth, demonstrating market share gains and penetration success. October to December 2025

Share up about 0.5 points; sales up 6.4%. Gross margin 49.65% was below a high year-earlier 52.28%. ✓ fact

From our notes of the call for October to December 2025: Market share gains in full automotive segment; automotive market share in early 20s (+~50 basis points on a year earlier)

January to March 2026

Share gains 'sustained', volume 7-8%; sales up 8.7% with gross margin 49.05% vs 48.05%. ✓ fact

From our notes of the call for January to March 2026: Competitive position: market share gains sustained; brand differentiation anchored on service ecosystem. April to June 2026

Broad-based volume growth claimed but no figure; sales up 25% with gross margin 50.83% vs 48.44%; price increases taken. ✓ fact

From our notes of the call for April to June 2026: Structural cost reductions across raw materials and other areas are intended to balance pricing action with market-share ambition. We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Checked against results and calls up to April to June 2026, 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What could change the Castrol India story? What are the risks? A reconciled subsequent result showing that accepted price increases failed to protect operating profit as input costs rose, alongside weakening core sales, would break the thesis. ### Each change stops working if

- Pricing and cost recovery: Input inflation reaches costs before accepted pricing and savings compensate, or price increases cause enough volume loss to reduce operating profit. - Synthetic portfolio adoption: Synthetic launches fail to increase realized mix or promotional spending absorbs the incremental gross profit. - Industrial customer additions and localization: Industrial growth slows or lower-margin revenue displaces automotive profit without sufficient absolute profit contribution. ### The main risks

- : Inventory timing can flatter profit before replacement-cost inflation arrives. ⚠ estimate
- : The latest call summary does not reconcile with the newest Screener result. ⚠ estimate
- : Industrial sales growth can dilute the average margin. ⚠ estimate
- : Historical cash conversion does not resolve current inventory cash needs. ⚠ estimate

(Our read after the April to June 2026 results, written 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What to watch in Castrol India's next results? When Castrol India reports October to December 2026, these are the 5 checks that show whether the story is still on course. First: The Sep 2026 call gives a volume growth figure above the industry's, after the price increases, with gross margin not below the Sep 2025 level of 49.82%. | What to check | Why |
| --- | --- |
| The Sep 2026 call gives a volume growth figure above the industry's, after the price increases, with gross margin not below the Sep 2025 level of 49.82%. | Market share gains |
| Commodity and currency swings to ease enough for management to offer a clearer margin-normalization timetable. | From the call |
| Fourth-quarter global-contract rebate outcome and channel cost pass-through to indicate how quickly cost recovery is progressing. | From the call |
| Industrial customer momentum: check whether volume growth and steel and cement additions continue in the next reported period. | From the call |
| Data-center pilots to progress toward customer deployment or a material commercial contribution. | From the call |

## Which stock lists is Castrol India on? Castrol India is on 6 of our India lists: Multibagger study list, Momentum stocks, Breakout stocks, Dividend stocks, Small & mid cap stocks and Oil & gas stocks. - [Multibagger study list Study stage: early](https://www.sectoralpha.in/multibagger-stocks-india)
- [Momentum stocks Market cap cr: 19435.78744680851](https://www.sectoralpha.in/momentum-stocks-india)
- [Breakout stocks Breakout date: 23 October 2026](https://www.sectoralpha.in/breakout-stocks-india)
- [Dividend stocks Regular dividend yield (%): 5.85](https://www.sectoralpha.in/dividend-stocks-india)
- [Small & mid cap stocks Size rank in India: 373](https://www.sectoralpha.in/small-cap-stocks-india)
- [Oil & gas stocks Group on the list: Lubricants and specialty oils](https://www.sectoralpha.in/sectors/oil-and-gas-stocks-india)

## Is Castrol India profitable? Castrol India Ltd earned ₹176 Cr of net profit in the Sep 2026 quarter, −22.8% on the same quarter a year earlier. Full-year FY25 profit was ₹950 Cr. Over 10 years profit has grown 4.4% a year on average. That is 10.1% of the quarter's revenue. The same quarter a year earlier earned ₹228 Cr. For the full year, FY25 profit was ₹950 Cr (+2.5% on the year before). Why profit moved: revenue changed +27.3% on a year earlier and the margin moved −9.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed +3.5% and revenue +16.8%. Profit is growing slower than sales: rising costs are taking part of the growth. FY26-Q4. Sales growth outpaced profit as operating margin compressed

FY27-Q1. Reported acceleration needs reconciliation with inventory timing and the call summary

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters. ## How much revenue does Castrol India make, and is it growing? Castrol India Ltd reported ₹1,735 Cr of revenue in the Sep 2026 quarter, +27.3% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 5.7% a year on average. The last full year, FY25, came in at ₹5,722 Cr. The last four reported quarters add to ₹6,591 Cr. FY25 revenue was ₹5,722 Cr, +6.7% on the year before. Recent pace: the last four quarters grew +16.8% on average, against 5.7% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +16.9%, against +11.8% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +3.6%, against +6.2% a year (stabilising). FY26-Q4. Sales growth outpaced profit as operating margin compressed

FY27-Q1. Reported acceleration needs reconciliation with inventory timing and the call summary

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Castrol India keep? Castrol India Ltd's operating margin was 15.0% in the Sep 2026 quarter, 9.0 percentage points lower than the same quarter a year ago. Across 12 years it has been between 21.0% and 30.0%. The latest quarter is below every full year in that period. Why this happened. The Input Cost Pass-Through Test separates pricing announcements from retained profit. Management reports pricing offsets and structural cost work, but realized price, volume elasticity and competitors' response are not quantified. The inventory benefit has already contributed; only subsequent profit after replacement-cost inflation can establish the remaining benefit. This overlaps with volume and mix effects and should be counted as one profit bridge. Why the margin moved: operating margin changed −8.6 percentage points on the year while gross margin changed −13.3 points. So the drop came mostly from the gross margin, which means input costs and prices charged. FY26-Q4. Sales growth outpaced profit as operating margin compressed

FY27-Q1. Reported acceleration needs reconciliation with inventory timing and the call summary

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters. ## Is Castrol India's profit turning into cash? Over the last 3 years, 109% of Castrol India Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in ₹1,090 Cr of operating cash against ₹950 Cr of profit. After ₹128 Cr of spending on assets, ₹962 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 109% of profit came in as cash: the cash cycle got 30 days longer between FY20 and FY25, so more of each rupee of profit waits in the business before it arrives. What to look at next: no single use of cash stands out. The next section checks both the cash tied up in daily operations and the spending on assets. ## Where does Castrol India's cash go? Castrol India Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 0 days in FY25, up from −30 days in FY20. It spent ₹377 Cr on assets over the last 3 years. Customers take 30 days to pay, and stock sits for 68 days on average. At FY25 sales of ₹5,722 Cr, each day of that cycle ties up about ₹15.7 Cr, so roughly ₹0.0 Cr is tied up in the business at any time. FY25: customers took 30 days to pay and stock sat for 68 days, about 2.2 months of sales sitting as stock, for a full cycle of 0 days, longer than FY20's −30. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 68 days. Customers pay about 30 days after that. Suppliers are paid at 98 days. Together that makes the 0-day cycle. Spending on assets: ₹377 Cr over the last 3 years, against ₹293 Cr of depreciation (the yearly wear and tear on existing assets). So it is building a little beyond replacing what wears out. Work still in progress is ₹72.0 Cr (FY25): assets paid for that are not earning yet. In short: neither the daily cycle nor new spending is soaking up the cash, so the picture is fairly clean. ## What is Castrol India's P/E ratio, and how does it compare with its own history? Castrol India Ltd's P/E is 18.7×, in the middle of its own history: higher than 40% of past readings. Its usual P/E (the middle reading) is 19.9×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹10.22. Why the multiple is where it is: over the past year earnings per share moved +2.5% while the price moved −0.5%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +6.6% a year; about +6.3% a year came from earnings growth and about +0.3 percentage points from the multiple (roughly no change); over 10 years the price moved −1.0% a year; about +4.5% a year came from earnings growth and about −5.5 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Castrol India share price assume? Worked out from its price on 11 October 2026, Castrol India Ltd's share price assumed profit growth of about 9.1% a year. Over the past 10 years its profit actually grew 4.4% a year. Today its P/E is 18.7×, lower than 60% of its own last 11 years. This is a one-day reading, taken on 11 October 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Castrol India business getting better or worse? Castrol India Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 71.3%. This is based on 12 quarters of 4 measures. Why it matters: steady growth with healthy returns is how a business compounds over time. ## What is the Castrol India story, and has it been checked? Castrol India Ltd's story is not scored yet against the checks our research set on 10 October 2026. Where it sits in its own cycle: EARLY EXPANSION. Still open: A reconciled subsequent result showing that accepted price increases failed to protect operating profit as input costs rose, alongside weakening core sales, would break the thesis. Our read, 10 October 2026. From the numbers. The separate weekly opportunity…

From the price. Price stage 2, week 4, below its 200-day line, relative strength rising. From the research. Where they disagree. What is proven. What is not proven yet. A reconciled subsequent result showing that accepted price increases failed to protect operating profit as input costs rose, alongside weakening core sales, would break the thesis. What would change our mind. A reconciled subsequent result showing that accepted price increases failed to protect operating profit as input costs rose, alongside weakening core sales, would break the thesis. The test written in advance. A reconciled subsequent result showing that accepted price increases failed to protect operating profit as input costs rose, alongside weakening core sales, would break the thesis. Measured by: the thesis as written as stated by the next result. What the company does. Reported growth improved in the latest quarter, with operating profit rising faster than sales. Management attributes profitability partly to older inventory and expects delayed input inflation to follow, so the margin improvement is not wholly repeatable. Premium products and industrial customer additions provide operating possibilities; inconsistent disclosure and unresolved transaction timing limit confidence. What the surface reading misses. The surface reading is: Higher sales, margin and profit suggest an accelerating business. The research reads it further: Operating profit grew faster than sales, but management attributes part of profitability to older inventory; this can shift profit between periods without improving replacement-cost economics. What the surface reading misses. The surface reading is: Sales growth with slower profit growth suggests deteriorating economics. The research reads it further: Foreign exchange and operating expenses offset sales growth; management says raw-material pressure was partly delayed by inventory, leaving an additional future cost test. Lever 2 · Value-added mix: building. Expanded synthetic offerings create a route to a more valuable product mix. What proves it keeps working: Synthetic portfolio adoption. It stops working if Synthetic launches fail to increase realized mix or promotional spending absorbs the incremental gross profit. Sources: our stock research file (10 October 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Castrol India management deliver what it promised? What Castrol India Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Conflicting Medium-Term EBITDA Margin Outlook · 26 October 2026. In August 2026, management said the 21% to 24% EBITDA profile would be outside that range in the medium term and return only over the longer term. Volume Growth Goal Recast Lower · 26 October 2026. In August 2026, management reaffirmed a 2x market-growth framework. In October 2026, it recast the framework to a range whose low end is 1.5x, a material reduction from the earlier 2x goal, without explaining what changed in demand or execution assumptions. Data-Center Commercialization Appears Less Advanced · 26 October 2026. In April 2026, management described the data-center opportunity as beyond the pilot stage, and in August 2026 said some trials had already generated business. In October 2026, it described the products as still in pilot cycles and very early, which appears to reset the commercialization stage of an emerging growth opportunity without explanation. Rural Distribution and Service Footprint Reversal · 5 August 2026. In Apr 2026 and Feb 2026, management described rural distribution at more than 40,000 outlets and reported 800 Castrol Auto Services. In Aug 2026, it reported only approximately 25,000 rural outlets and 550 auto service hubs, without explaining whether definitions changed, outlets were exited, or prior figures were misstated. This is a material inconsistency in the distribution and services-led growth narrative. Every quote above is taken word for word from the company’s own earnings calls. ## What is Castrol India management's track record? The original-call receipt and company release resolve the stored summary profit and distribution-count errors: those are evidence-processing errors, not management lies. Management acknowledges older-inventory support and delayed cost pressure; older price increases protected margins at the cost of volumes. The full downturn record remains incomplete, so mixed is more defensible than strong. ### Regulatory and governance record

No company-specific fraud, lie or qualifying enforcement case is established. 0% Promoter shares pledged

Sources:

- [investing.com](https://www.investing.com/news/transcripts/earnings-call-transcript-castrol-india-posts-strong-q2-2026-growth-shares-rise-93CH-4836553)
- [thetaxcorp.in](https://thetaxcorp.in/article/roc-mumbai-levies-maximum-penalty-on-castrol-india-limited-for-delayed-filing)
- [castrol.com](https://www.castrol.com/content/dam/castrol/country-sites-new/en_in/india/home/documents/investors/q1-fy-26.pdf)

(Checked 14 October 2026.)

## How much does Castrol India earn on its capital? Castrol India Ltd earned a ROCE of 60% in FY25. That is up from a low of 55% in FY24. Its return on capital used (ROIC) is 78.8 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 16.6% net margin and 1.69× asset turnover (sales divided by assets). Why the return is what it is (FY25): a 16.6% net margin × 1.69× asset turnover × 1.79× leverage (assets divided by equity) ≈ 50.2% on equity. The margin does most of the work; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 90.8% − 12.0% = +78.8 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. The 90.8% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at 111.4%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Castrol India have too much debt? Castrol India Ltd has total debt of ₹53.0 Cr against shareholder equity of ₹1,909 Cr as of Sep 2026, so its debt is 0.03× its equity, which is very little. Year by year, that ratio went from 0.03 in FY23 to 0.03 in FY26. So the returns on this page come from the business, not from borrowed money. Why this happened. The latest capex plan goals manufacturing and market visibility rather than a quantified capacity step-change. That supports maintenance and distribution execution, but does not establish an incremental earnings ramp. ## What is the Castrol India shareholding pattern? Domestic institutions cut their stake in Castrol India Ltd by 2.3 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 12.9% of the company. Foreign institutions moved +0.4 points over the same period, to 10.4%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: −2.3 points over 8 quarters, to 12.9%; Foreign institutions: +0.4 points over 8 quarters, to 10.4%; Promoters: +0.0 points over 8 quarters, to 51.0%. Why the owners changed: domestic institutions drove it (−2.3 points). They reduced their stake. ## How far is Castrol India from balance-sheet trouble? For Castrol India Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Castrol India rank in its industry? 68.9 out of 100, rank 1 of 4 in Lubricants, with 97% of the evidence available. Castrol India Ltd scores 68.9 out of 100 against the 4 companies it is compared with in Lubricants, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 19 + 19.7 + 12.5 + 17.7 = 68.9. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Castrol India compared with? Castrol India ranks 1 of 4 Lubricants companies on the 4-Factor Sector Score, with 68.9 out of 100. 1. Castrol India Ltd this page CASTROLIND · breaking out · Most evidence points up · 97% evidence 68.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.0/35 · Revenue 16.9% · Profit 3.6% · Operating margin change -9 points · 100% evidence Capital efficiency 19.7/25 · ROCE 60.3% · Operating margin 15% · 100% evidence Valuation 12.5/20 · P/E 18.1× · PEG 1.45 · 85% evidence Relative strength 17.7/20 · Lead over its industry 2.4% · Lead over NIFTY 500 5.3% · 1 year -3.6% · 100% evidence · 7 of 12 weeks ahead Exact sum: 19 + 19.7 + 12.5 + 17.7 = 68.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Veedol Corporation Ltd](https://www.sectoralpha.in/stocks/veedol-corporation-ltd) VEEDOL · turning · Most evidence points up · 93% evidence 68.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.6/35 · Revenue 12.9% · Profit 20.9% · Operating margin change 5 points · 88% evidence Capital efficiency 19.9/25 · ROCE 24.1% · Operating margin 16% · 100% evidence Valuation 14.9/20 · P/E 10.6× · PEG 1.4 · 85% evidence Relative strength 6.5/20 · Lead over its industry -6.6% · Lead over NIFTY 500 -4% · 1 year -24.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 27.6 + 19.9 + 14.9 + 6.5 = 68.9 · What this means: Earnings are strong; relative strength in its sector is -6.6% and the one-year return is -24.1%. 3. [Gulf Oil Lubricants India Ltd](https://www.sectoralpha.in/stocks/gulf-oil-lubricants-india-ltd) GULFOILLUB · losing its lead · Evidence leans up · 82% evidence 61.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.5/35 · Revenue 24.7% · Profit 8.9% · Operating margin change 0 points · 100% evidence Capital efficiency 18.9/25 · ROCE 25.9% · Operating margin 12% · 100% evidence Valuation 6.9/20 · P/E 12.1× · PEG 2.62 · 85% evidence Relative strength 10.9/20 · Lead over its industry n/a · Lead over NIFTY 500 1.8% · 1 year -16.6% · 25% evidence · 11 of 12 weeks ahead Exact sum: 24.5 + 18.9 + 6.9 + 10.9 = 61.2 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 4. [GOCL Corporation Ltd](https://www.sectoralpha.in/stocks/gocl-corporation-ltd) GOCLCORP · quiet · Evidence leans down · 64% evidence 35.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 7.4/35 · Revenue -7.7% · Profit -73% · Operating margin change -25 points · 95% evidence Capital efficiency 6.8/25 · ROCE 7% · Operating margin -352% · 76% evidence Valuation 13.4/20 · P/E 5.5× · PEG n/a · 35% evidence Relative strength 8.3/20 · Lead over its industry n/a · Lead over NIFTY 500 -3.4% · 1 year -12.8% · 25% evidence · 3 of 12 weeks ahead Exact sum: 7.4 + 6.8 + 13.4 + 8.3 = 35.9 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Lubricants](https://www.sectoralpha.in/sectors/lubricants), all 4 compared on one page. ## Which companies are close to Castrol India in size? Castrol India is the largest of 4 Lubricants companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: Gulf Oil Lubricants India, Veedol Corporation and GOCL Corporation. ### Lubricants companies close in size

1. Castrol India Ltd ₹18,596 crore
2. [Gulf Oil Lubricants India Ltd](https://www.sectoralpha.in/stocks/gulf-oil-lubricants-india-ltd) ₹5,104 crore
3. [Veedol Corporation Ltd](https://www.sectoralpha.in/stocks/veedol-corporation-ltd) ₹2,328 crore
4. [GOCL Corporation Ltd](https://www.sectoralpha.in/stocks/gocl-corporation-ltd) ₹1,529 crore

[All 4 Lubricants companies, largest first](https://www.sectoralpha.in/sectors/lubricants#all-companies)

### Companies close in size in other industries

1. [NBCC (India) Ltd](https://www.sectoralpha.in/stocks/nbcc-indialtd) ₹18,808 crore · Infra - Construction & Contracting
2. [Shilpa Medicare Ltd](https://www.sectoralpha.in/stocks/shilpa-medicare-ltd) ₹18,690 crore · Pharma - API & CRAMS
3. Castrol India Ltd ₹18,596 crore
4. [Aadhar Housing Finance Ltd](https://www.sectoralpha.in/stocks/aadhar-housing-finance-ltd) ₹18,417 crore · Finance - Housing
5. [OneSource Specialty Pharma Ltd](https://www.sectoralpha.in/stocks/onesource-specialty-pharma-ltd) ₹17,924 crore · Pharma - API & CRAMS

## What else do people ask about Castrol India? ### What is Castrol India's share price today? Castrol India Ltd's share price is ₹194.01, −0.5% over the past year. The whole company is worth ₹19,190 Cr on the market. In the last 52 weeks it traded between ₹175 to ₹202; today it is 71% of the way up from the low, 2.1% above its 200-day average (as of 3 November 2026). ### What were Castrol India's latest quarterly results? Castrol India Ltd reported revenue of ₹1,735 Cr and net profit of ₹176 Cr for the Sep 2026 quarter. Revenue rose 27.3% and profit fell 22.8% compared with a year earlier. Earnings per share were ₹1.78. The operating margin was 15.0%, 9.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is Castrol India's market cap? Castrol India Ltd's market capitalisation is ₹19,190 Cr at a share price of ₹194.01. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Castrol India performing? Castrol India Ltd's share price has been rising for 4 weeks. In its latest quarter, revenue rose 27.3% and profit fell 22.8% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 11 weeks running (as of 3 November 2026). ### Will Castrol India's share price go up? This page does not forecast Castrol India Ltd's share price. What it shows instead: the share price is ₹194.01, and it has been rising for 4 weeks. Its P/E of 18.7× is higher than 40% of its own last 11 years (as of 3 November 2026). ### Who owns Castrol India? Promoters own 51.0% of Castrol India Ltd, foreign institutions 10.4%, domestic institutions 12.9% and the public 25.3% (latest quarter). The biggest change over the last two years: Domestic institutions cut their stake by 2.3 percentage points over 8 quarters (as of 3 November 2026). ### Does Castrol India have too much debt? No, Castrol India Ltd has little debt: its debt is 0.03× its equity, and its operating profit is more than 100 times its interest bill. FY25 borrowings were ₹63.0 Cr against equity of ₹1,901 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Castrol India in its business cycle? Castrol India Ltd's FY25 operating margin was 24.0%, against a 12-year range of 21.0% to 30.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 15.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Castrol India story? Biggest thing to watch: the price has already been rising for 4 weeks, so timing is the risk more than the business. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Castrol India a stock worth studying right now? What the numbers show: Castrol India Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Castrol India share price forecast for 2026? What management itself guided: Overall volumes may remain soft in the short to medium term. The changes showing up in Castrol India's own numbers are market share gains. It is too early to say whether they last. What would change the story: A reconciled subsequent result showing that accepted price increases failed to protect operating profit as input costs rose, alongside weakening core sales, would break the thesis. ### Where does this page get Castrol India's management information? From Castrol India's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Multibagger study list: https://www.sectoralpha.in/multibagger-stocks-india
- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- Breakout stocks: https://www.sectoralpha.in/breakout-stocks-india
- Dividend stocks: https://www.sectoralpha.in/dividend-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india
- Oil & gas stocks: https://www.sectoralpha.in/sectors/oil-and-gas-stocks-india

This is research, not advice. We’re not SEBI-registered.