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Castrol India Ltd. Company History and Annual Growth Details

1919

- The Indian branch of Castrol commenced it activities in 1919 and
operated through four regional offices at Mumbai, Calcutta, Delhi and
Chennai.

1944

- The name was changed to Castrol Ltd. In 1966, Castrol became a part
of the Burmah Group.

1981

- During the year as per the scheme of Amalgamation sanctioned by the
Mumbai High Court, the Indian Marketing and Business of Castrol was
amalgamated with Indrol Lubricants & Specialities Ltd. As per the
Scheme, Castrol voluntarily agreed to hold 40% equity capital in the
company. As a part of the consideration for the transfer of business
and undertaking in India, Castrol was allotted 6,00,000 No. of equity
shares of 10 each without payment in cash.

- The balance consideration of Rs 95.27 lakh was retained with the
company as interest-free loan from Castrol. This amount was to be
repaid in the three equal annual installments.

- As a result of acquisition of equity shares of Foseco Plc. by Burmah
Castrol Plc in U.K., the undertakings in India in which Foseco plc have
an investment interest, it became inter-connected with the Company
under MRTP Act, 1969 and the Company came within the purview of Part-A
of Chapter III of the MRTP Act.

- On 9th June, the company entered into a registered user agreement to
use Castrol's trade mark which were used by Indian branch of Castrol.
This agreement is valid a period of years from the date of amalgamation
or so long as Castrol holds 30% or more of the equity share capital of
the company, which ever is later.

1982

- The company was incorporated on 10th December under the name of
Indrol Lubricants & Specialities Ltd.

- In June, the first Phase of lube oil refining plant was commissioned.

- During the year the company set up a modern blending plant and brake
fluid plant at Patalganga. The brake fluid plant and the lube oil
blending plant were commissioned in February and March 1985
respectively.

1983

- In March 9,00,000 equity shares issued at a premium of Rs.9 per
share, of which 75,000 shares to employees and Indian directors of the
company, 75,000 shares to business associates, 30,000 shares to LIC and
30,000 shares to UTI were reserved and allotted. The balance of
6,90,000 shares offered to the public.

1985

- 1,50,000 rights shares issued (prem. Rs 10 per share; prop. 5:50)
linked to debs. in August. In June 1986, 8,93,800 shares issued (prem.
Rs 40 per share) (8,25,000 shares as rights in prop. 1:2, 41,300 shares
to employees/workers of the Company; and 27,500 shares to Castrol,
Ltd.).

1986


- On 27th June the second Phase of lube oil refining plant was
commissioned.

- 25,43,800 bonus shares allotted on 21.3.1987 (prop. 1:1).

1987

- As a measure of diversification, the Company formed a subsidiary
Company under the name of Indtech Speciality Chemicals, Ltd. for the
manufacture of Telephone cable jellies, pharmaceuticals jellies and
industrial waxes in technical collaboration with Dussek Campbell, U.K.

1988

- During August/September, the company offered 14% - 6,10,520 secured
redeemable convertible debentures of Rs.150 each to the existing
shareholders (Except Castrol Ltd. UK) on right basis in the ratio of 1
debenture for every five equity shares held. Additional 30,526
debentures were reserved for subscription by employees/Indian Working
Directors/workers of the company. All the debentures were taken up.

- As per the terms of the debentures issue, Part 'A' of Rs 50 each of
the debenture will be automatically and compulsorily converted into one
fully paid up equity share of Rs 10 each at a premium of Rs 40 per
share on the expiry of six months from the date of allotment of the
debenture.

- Part 'B' of the non-convertible portion of Rs 100 of each debenture
would be redeemed at par at the end of 7th year from the date of
allotment thereof.

1989

- On 15th March company offered and allotted 4,27,430 No. of equity
shares of Rs. 10 each at a premium of Rs. 40 per share to Castrol Ltd.
UK to maintain their equity share capital after conversion of the
debentures into equity shares.

1990

- With effect from 1st November, the name of the company was changed
from Indrol Lubricants & Specialities Ltd. to Castrol India Ltd.

- 36,93,645 bonus shares issued prop. 3:5 in December.

1992

- With effect from 1st January, Indtch Speciality Chemicals the
subsidiary was merged with Castrol India Ltd.

- 59,09,832 bonus equity shares issued in prop. 3:5.

1993

- 35,37,862 No. of equity shares of Rs 10 each allotted to Castrol Ltd.
U.K. at a premium of Rs 100 each.

1994

- Company set up a new plant in Silvassa, Union Territory of
Dadra/Nagar Haveli at a cost of Rs.50 crores. The new plant was to
incorporate the state-of-art technology for lubricant blending.

- 192,97,415 bonus equity shares issued in prop. 1:1 on 27th May.

1995

- Castrol India Limited, has plans to introduce a wide range of
futuristic lubes which will help it maintain its position as the market
leader. While the company has a wide marketing network consisting of
120 depots and 12,000 dealer outlets, the company is installing a
satellite linked management information system (MIS), connecting the
vast network.

- Castrol was the first oil in the lubricant sector to obtain the ISO
9002 certification. It has also introduced Tractormax and RX Super
Plus for the diesel engines. Its R&D wing at Wadala in Mumbai is
engaged in the innovation and modification of existing range of
products as well as productive new versions.

- During the year Castrol India, has signed an agreement with Hindustan
Powerplus as sole supplier of lubricants for Caterpillar engines. With
the proper usage of new Castrol RX Super Plus and with regular filter
change and maintenance, the engine life is expected to be 20,000 hour
plus. Castrol RX Super Plus is a new generation diesel engine oil
exceeding the highest 4 stroke diesel engine lubricant service class
requirements- API CF4. The product also confirms to AP1 SG service
class requirements for 4 stroke petrol engine oils.

- During the year Castrol India has launched two stroke engine oils -
Jett X and Super TT. Both exceed the Japanese Automobile Standards
Organisation (JAPO) specifications.

- 231,56,898 bonus equity shares issued in prop. 3:5.

1997

- Maruti Udyog, India's largest car producer has signed an agreement
with Castrol to sell high performance Castrol products, through its
dealer outlets and authorised service stations.

- The leader in the private sector, Castrol India (CIL) is well-known
for its product quality, distribution network and after-sales service.
It recently expanded its blending capacity by 1,80,000 kl.

1998

- With effect from 15th January, Consequent upon the Securities and
Exchange Board of India (SEBI) making dematerialisation of shares
compulsory for Foreign Institutional Investors (FIIs), Financial
Institutions (FIs) etc., the Company was required to sign an Agreement
with the National Securities Depository Limited (NSDL) as it had
shareholders who were compulsorily required to dematerialise their
shareholdings in the Company. The Company has appointed Sharepro
Services to act as an agent for interface with NSDL.

- Castrol India bags QS 9000 certification Castrol India, which already
has ISO 9002 certification, has become the first lubricant company in
Asia-Pacific to get QS 9000 certification, which is possibly the most
rigorous quality system standard for suppliers to the automotive
industry worldwide.

1999


- Castrol's performance seems to be losing momentum which in turn will
put the Castrol share price on alert While the 1:1 bonus issue from
Castrol has cheered the market there seems little scope for further
upsides in the Castrol share price, based on fundamentals.

- Castrol India Ltd, has improved its market share from 18 per cent to
20 per cent of its oil and lubricants during the year 1998 and is
likely to improve its market share further during the current year.

- Authorised capital reclassified. 617,51,728 bonus shares allotted.

2000

- Castrol India Ltd has announced the launch of Castrol Active 4T, an
engine oil for 4 stroke bikes.

- Castrol introduced GTX Magnetic for passenger cars, accompanied with
a print campaign that stresses the 'molecular attraction' of the
lubricant, allowing it to stick to engine parts, even when it is
switched off.

- TELCO and LML have tied up with Castrol India Ltd (CIL), marketer of
specialised lubricants and lubrication services, for sourcing
customised lubricants for various vehicles manufactured by these
companies.

- 'The company has entered into strategic alliances with several
automotive and industrial majors with a view to developing a customise
products and services for the Indian market.'

- Castrol India and Tata Engineering signed two agreements for the
supply of specially formulated lubricants for Tata commercial vehicles
and for use of motor oils for Indica passenger car.

- Castrol has launched a web site dedicated to motor sports,
'www.castrolbikeworld.net'.

- Ram Savoor, chief executive and managing director of Castrol India,
has been appointed as business unit head for global major BP Amoco's
operations in India, Middle East and South Asia.

- In Wadala Plant the manufacturing has become an unviable activity due
to restrictive space and lay-out, coastal regulations zones/rules
restricting constructions and several other operations hazards.

- The Company has signed up with the Chennai-based Rane Engine Valves
Ltd. for total supply of its lubricant requirements.

- The Company has stopped commercial production at its Wadala Plant
with effect from 1st July,

- The year 2000 was a difficult year for the transport industry and, as
a consequence, the automotive lube market is estimated to have declined
by around 6%. This decline was mainly driven by an increase in lube and
diesel prices which squeezed margins in the road transport industry.
There was also a move towards 'floor' sales tax rates for several
products including lubes which translates to a higher selling price.
The rationalisation of sales tax attempted to equalise sales tax across
the country resulted in a decline in road freight movement. Together
with this, the drought condition prevailing in certain parts of the
country affected the demand for diesel engine oil in the agricultural
segment.

2001

- Castrol India has launched 'Castrol call-for-a-can' whereby Castrol
products including motorcycle, scooter and car engine oils, coolants
and brake fluids will be available to customers over phone.

- Castrol India has closed down its manufacturing facility at Hoskote
in Karnataka.

-Tata BP Lubricants India Ltd has been amalgamated into Castrol India
Ltd (CIL), following Tata groups decision to exit the lubricants
business.

- Castrol India Ltd has posted a net profit of Rs 22.23 crore for the
quarter ended September 30, 2001 as compared to Rs 28.17 crore for the
same quarter last year.

- During the year 2001, Castrol, UK acquired a 20% stake in the company
vide an open offer made to the shareholders of CIL, thereby increasing
its stake from 51% to 71%.

2002

-Appoints Naveen Kshatriya as new MD & CEO.

-Announces change in the management structure and still continue its focus on
lubricants and allied services.

-Aspi Modi has been appointed as company secretary.

-Launches CRB Turbo special oil for new generation turbocharged vehicles.

-Mr. Uswin Desousa,Mr.Roger Elston-Green and Mr Ravindra Pisharody appointed as wholetime directors.

-Shifted four of its offices to Andheri.

-Alastair Ferguson has been nominated as director of castrol India.

-Launched a slew of integrated marketing plans.


2003

-Castrol India has entered into motorcycle servicing business with the launch of 'PrimaZona' brand of franchisee workshop.

-Restructured its sales and marketing force. It has set up 3 groups including retail specialists, workshop specialists and institutional specialists.

-Castrol India has posted a net profit of 408.6million for quarter June 30,2003 and declared a dividend Rs 4.00 per equity share for december 2003.

---Baged tenth slot among 'Top 10' in Asiamoney's corporate governance poll on Asian companies in the energy sector. And joined the club of a select few Asian companies.

2004

-Castrol India Ltd has said that Mr Philip J. Hughes was nominated by Castrol Ltd UK with effect from January 9, as a director of the company in the place of Mr D. Hulf. On Mr Hulf ceasing to be a director, his alternate Mr K. Warnett also ceased to be a director. Further, from the said date, Castrol Ltd UK has also nominated Mr L. Freese as an alternate director to Mr P. Hughes.

- Castrol India in pact with Mahindra Tractors

-Castrol India's managing director Naveen Kshatriya has been appointed regional vice president of parent BP's transcontinental lubricant business

-Castrol India, the Indian arm of the BP group, has become a global hub for supplying marketing professionals to the group

-Escorts has announced a tie-up with Castrol India for exclusive supply of engine oils for service refill as well as after market sales

-Castrol India rolls out BikeZone in Bangalore

2005

-Castrol India launches International Driving Championship in India

-IRTE and Castrol join hands to promote Road Safety in India

-John Abraham signs up as Brand Ambassador for Castrol

-Castrol introduces 'Liquid Engineering'


2006

-Castrol India unveils premium quality engine oil

-CIL sets up new bike service centre in Coimbatore

-Castrol India launches Castrol EDGE

-Castrol Recognizes and Rewards Budding Cricketers

2007

- Castrol India Ltd. launches Castrol Magnatec with Intelligent Molecules

-Castrol and Volvo in Strategic Partnership

-Castrol Power1 Throttle Max Challenge

2008

- Castrol India Ltd has appointed Mr. Soren Malekar as a Wholetime Director designated as Director-Supply Chain.

-Castrol announces the Castrol Asian Cricket Awards

-Castrol launches its flagship BikeZone in Hyderabad

- CASTROL TO BECOME AN OFFICIAL SPONSOR OF FIFA WORLD CUP

2009
 
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