Sky-High Dividend of Rs 9.5: Record Date - 18 March; Stock To Buy Now?

Castrol India Limited is a publicly traded corporation that produces and markets industrial and automotive lubricants. It belongs to the BP Group and is a subsidiary of Castrol Limited UK. Paharpur, Patalganga, and Silvassa are the locations of Castrol India's production facilities. Castrol India sells automobile lubricants under the Castrol and BP brands.

Castrol India Dividend

The Board of Directors "Recommended a Final Dividend of INR 9.5/- per share of the face value of INR 5/- each (which includes a Special Dividend of INR 4.5/- per share) for the financial year ended 31 December 2024, subject to approval by the Shareholders at the 47th Annual General Meeting. Fixed the record date as Tuesday, 18 March 2025 for determining entitlement of members to Final Dividend for the financial year ended 31 December 2024. The dividend, if approved by the Shareholders will be paid on or before Wednesday, 23 April 2025," said the company in a stock exchange filing.

Castrol India Q3 Financials

Castrol India Ltd., a manufacturer of lubricants, announced that its profit after tax (PAT) for the December quarter increased by 12% to Rs 271 crore. According to Castrol India, the business reported a PAT of Rs 242 crore for the October-December 2023 period. For the quarter ended December 31, 2024, the firm reported revenue from operations of Rs 1,354 crore, a 7% increase over Rs 1,264 crore recorded in the same quarter the previous year. While expenses jumped by 5% year over year to ₹1,006 crore, total income increased to ₹1,377 crore. The company reported ₹5365 Crore in revenue from operations for the full year that ended on December 31, 2024, which is a consistent rise of 6% over ₹5075 Crore for the year that ended on December 31, 2023. 2024's profit before taxes was ₹1258 crore, an improvement of 6 percent over 2023's ₹1181 crore. In 2024, the profit after tax was ₹927 crore, a 7% increase over 2023's ₹864 crore.

Mr. Deepesh Baxi, Chief Financial Officer, Castrol India Limited, said, "Our 2024 performance reflects our ability to balance growth and profitability in a volatile geo-political environment. Optimising costs, operational efficiency along with timely pricing strategies, helped strengthen our margins while staying aligned with our strategic goals. Our consistent focus on sound financial management ensures that we are well-prepared for the opportunities and challenges that lie ahead."

Castrol India Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "The stock is currently trading at 188 and has been in a sustained downtrend over the past several months. However, it is showing signs of stabilization and a potential reversal near its recent lows. The immediate resistance is at 205, with a stronger resistance level at 225. Recent price action suggests the possibility of a short-term recovery from these levels. Currently, the stock is trading below its 50-day, 100-day, and 200-day Exponential Moving Averages EMA. However, the 20-day EMA, positioned at 182, has acted as immediate support, leading to a bounce back. A breakout above the 50-day EMA would signal renewed buying momentum and a potential trend reversal."

"If the stock manages to break above this level with strong volume, it could achieve a short-term target of 220. Traders should watch for sustained price action above key resistance levels for confirmation of a bullish move. On the downside, immediate support is located at 182 - 180. The Relative Strength Index (RSI) is currently at 53.96 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 175 is suggested to guard against any unexpected market reversals. In conclusion, based on the technical analysis and current market conditions, CASTROLIND presents a promising buying opportunity for those aiming for a 220 target, provided that appropriate risk management strategies are in place," the analyst recommended.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.