Castrol India Ltd — Earnings Release 2021

Apr 26, 2021

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26 April 2021

To, The BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai 400001. Bandra East, Mumbai 400051

Scrip Code: 500870

Scrip Symbol: CASTROLIND

Dear Sir,

Sub: Outcome of Board Meeting – Regulations 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

This is further to our letter dated 26 April 2021, informing the Exchanges about approval by the Board of the unaudited financial results of the Company for the first quarter ended 31 March 2021 along with the limited review report of the auditor for the corresponding period.

We enclose herewith a copy of the press release on the aforesaid results.

You are requested to take the above information on your record.

Yours faithfully, For Castrol India Limited

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Chandana Dhar

Company Secretary and Compliance Officer

Encl. As above

CC ‐ Link Intime India Pvt. Ltd., Limited, Registrar and Transfer Agent National Securities Depository Limited

Central Depository Services (India) Limited

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Mumbai, 26 April 2021

Castrol India announces 1Q 2021 (January to March) results

• Robust financial delivery in 1Q 2021

Sandeep Sangwan, Managing director, Castrol India Limited:

Castrol India Limited reported a strong financial delivery in 1Q 2021 building on a resilient second half performance for FY 2020. We delivered robust revenue and profit growth with 1Q revenue from operations @ INR 1139 crores (66% higher) and 1Q Profit Before Tax @ INR 332 crores (96% higher) versus 1Q 2020 which saw the onset of the Covid-19 pandemic and resultant business slow down beginning March 2020.

Focused investments, interventions and actions taken in the second half of 2020 towards brand building with increased marketing and advertising spends, new product introductions as well as corrective pricing have yielded a positive impact on overall topline growth. This has been aided by improving demand trends especially in tractor and SUV sales in 1Q 2021.

Strengthening our network and expanding our footprint, as well as building our participation in digital market platforms, we entered into a strategic collaboration with ki Mobility Solutions Private Limited to supply lubricant products to ki Mobility workshops in India and also be available on goBumpr, their digital platform.

Our cost efficiency programmes and judicious working capital management efforts led to healthy cash from operations @ INR 269 crores in the quarter, which is equivalent to 1.1 times of Profit After Tax.

While we continue to focus on fundamental building blocks to deliver sustainable profitable growth keeping safety of our teams as our top priority, our plants continued to operate safely deploying Covid-19 safety processes and guidelines as laid out by local governments. Our Patalganga plant won recognition from the National Safety Council for the second consecutive year for its strong safety performance.

The second wave of the Covid-19 pandemic in India is resulting in a market slowdown in various parts of the country. In addition, supply disruptions on account of base oil and raw materials availability, logistics challenges and rupee depreciation are likely to adversely impact demand and supply. The management is keeping a close watch on the situation and responding with appropriate actions as needed.

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