Castrol India Ltd — Interim / Quarterly Report 2021

Apr 26, 2021

Castrol India Limited CIN L23200MH1979PLC021359 Technopolis Knowledge Park, Mahakali Caves Road, Chakala, Andheri (East), Mumbai - 400 093.

Tel: (022) 6698 4100 Fax: (022) 6698 4101 https://www.castrol.com/en in/india.html Customer Service Toll Free No.: 1800 222 100 / 1800 209 8100

26 April 2021

To, The BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400001.

National Stock Exchange of India Limited, Exchange Plaza, Bandra Kurla Complex, 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 1 April 2021, informing the Exchanges about date of board of directors' meeting being 26 April 2021, inter‐alia, to approve 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 are now pleased to inform the Exchanges about approval of unaudited financial results for the first quarter ended 31 March 2021, at the aforesaid Board Meeting being held today.

We are enclosing the following:

• 1. A copy of aforesaid unaudited financial results duly signed by the Managing Director; and
• 1. Limited Review Report from Deloitte Haskins and Sells LLP, Statutory Auditor of the Company.

Extract of the aforesaid results will be published in the newspapers in the format prescribed under Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and will also be available on the Company's website on https://www.castrol.com/en\_in/india/investors/financial‐ results.html

The board meeting commenced at 2:08 p.m. (IST) and ended at 2:45 pm (IST)

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

Yours faithfully, For Castrol India Limited

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

Castrol India Limited

Registered Office: Technopolis Knowledge Park, Mahakali Caves Road, Andheri (East), Mumbai - 400 093.

	Statement of Unaudited Financial Results for the Quarter Ended 31 March 2021		Website: www.castrol.co.in, Tel: (022) 66984100, Fax: (022) 66984101, Email - investorrelations.india@castrol.com	Registered Office: Technopolis Knowledge Park, Mahakali Caves Road, Andheri (East), Mumbai - 400 093.
				(Rupees in Crore)
Particulars	Quarter	Quarter	Quarter	Year
	Ended31.03.21Unaudited	Ended31.03.20Unaudited	Ended31.12.20(Refer Note 6)	Ended31.12.20Audited
Revenue From OperationsNet Profit after taxEquity Share CapitalTotal Comprehensive Income for the period	1,138.7243.6494.6243.6	688.0125.2494.6125.2	935.2187.7494.6191.4	2,996.9582.9494.6586.6
[Comprising Profit for the period (after tax) and Other ComprehensiveIncome (after tax)]	2.46 *	1.27 *	1.90 *	5.89

Notes :

• 1. The above is an extract of the detailed format of quarterly financial results filed with the stock exchanges under Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The full format of quarterly financial results is available on the stock exchange websites. (www.bseindia.com and www.nseindia.com) and the Company's website (https://www.castrol.com/en\_in/india/investors/financial-results.html).
• 1. read with Companies (Indian Accounting Standards) Rules, 2015 as amended. The financial results have been prepared in accordance with Indian Accounting Standards ("IND AS") notified under section 133 of the Companies Act ("the Act")
• 1. The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 26 April 2021.
• 1. The above results have been subjected to "Limited Review" by the Statutory Auditors of the Company.
• 5 The Company's business segment consists of a single segment of "Lubricants" in accordance with the requirements of Indian Accounting Standard (Ind AS) - 108 Operating Segment. Accordingly, no separate segment information has been provided.
• 6 The figures of the quarter ended December 31, 2020 are the balancing figures between audited figures in respect of the full financial year ended 2020 and the published year to date figures up to September 30, 2020
• 7 Employee benefit expenses include one time cost of Rs. 16.8 crore and Rs. 19.5 crore for the quarter and year ended 31 December 2020 respectively towards Organisation Transformation and Restructuring Programme implemented during the previous year.
• 1. Estimation of uncertainties relating to the global health pandemic from COVID-19: The Company has considered the possible effects that may result from the pandemic relating to COVID-19 in the preparation of the financial results including the recoverability of carrying amounts of financial and non-financial assets. In developing the assumptions relating to the possible future uncertainties in the global economic conditions because of the pandemic, the Company has, at the date of approval of the financial results, used internal and external sources of information and expects that the carrying amount of these assets will be recovered. The impact of COVID-19 on the financial results may be different from that estimated as at the date of approval of these financial results
• 1. The Parliament of India has approved the Code on Social Security, 2020 (the Code) which may impact the contributions by the Company towards provident fund, gratuity and ESIC. The Code has been published in the Gazette of India however, the effective date has not yet been notified. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective, if any.

FOR CASTROL INDIA LIMITED

DIN : 08617717

Dated : 26 April 2021 Sandeep Sangwan Place : Mumbai Managing Director

Castrol India Limited

	Castrol India Limited
Registered Office: Technopolis Knowledge Park, Mahakali Caves Road, Andheri (East), Mumbai - 400 093.
Website: www.castrol.co.in, Tel: (022) 66984100, Fax: (022) 66984101, Email - investorrelations.india@castrol.com	(CIN: L23200MH1979PLC021359)
Statement of Unaudited Financial Results for the Quarter Ended 31 March 2021
				(Rupees in Crore)
	Quarter	Quarter	Quarter	Year
Particulars	Ended	Ended	Ended	Ended
	31.03.21Unaudited	31.03.20Unaudited	31.12.20(Refer Note 5)	31.12.20Audited
IncomeRevenue From Operations	1138.7	688.0	935.2	2996.9
Other Income	14.3	19.8	15.3	62.0
Total IncomeExpenses	1153.0	707.8	950.5	3058.9
Cost of raw and packing Materials Consumed	472.3	330.2	365.7	1173.9
Purchases of traded goods(Increase) / decrease in inventories of finished goods /	52.60.6	30.0(64.7)	38.1(24.0)	116.5(24.1)
traded goods
Employee Benefits Expense (Refer Note 6)Finance Cost	50.10.6	53.71.1	69.70.8	219.84.2
Depreciation and Amortisation Expenses	21.5	22.2	22.3	86.6
Other ExpensesTotal Expenses	223.0820.7	165.8538.3	228.1700.7	696.72273.6
Profit Before Tax	332.3	169.5	249.8	785.3
Tax ExpensesCurrent tax (net of reversal of earlier years)	92.3	45.1	61.8	207.4
Deferred tax	(3.6)	(0.8)	0.3	(5.0)
Total Tax ExpensesProfit after tax	88.7243.6	44.3125.2	62.1187.7	202.4582.9
Other comprehensive income / (expenses) not to be reclassified
to profit or loss in subsequent periodRe-measurement gains / (losses) on defined benefit plans	-	-	4.9	4.9
Less : Income tax effect on above		--	(1.2)	(1.2)
Total Comprehensive Income for the period	243.6	125.2	191.4	586.6
Equity Share Capital	494.6	494.6	494.6	494.6
Earnings Per Share (EPS) (Face value of share of Rs. 5/- each)	2.46 *	1.27 *	1.90 *	5.89
(RS.) (Basic and Diluted) (Not Annualised) *

Dated : 26 April 2021 Sandeep Sangwan

Place : Mumbai Managing Director DIN : 08617717

Castrol India LimitedRegistered Office: Technopolis Knowledge Park, Mahakali Caves Road, Andheri (East), Mumbai - 400 093.(CIN: L23200MH1979PLC021359)Website: www.castrol.co.in, Tel: (022) 66984100, Fax: (022) 66984101, Email - investorrelations.india@castrol.com
Statement of Unaudited Financial Results for the Quarter Ended 31 March 2021
Notes :
The financial results have been prepared in accordance with Indian Accounting Standards ("IND AS") notified under section 133 of the Companies Act ("the Act") read with1.Companies (Indian Accounting Standards) Rules, 2015 as amended.
The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 26 April 2021.2.
The above results have been subjected to "Limited Review" by the Statutory Auditors of the Company.3.
4.The Company's business segment consists of a single segment of "Lubricants" in accordance with the requirements of Indian Accounting Standard (Ind AS) - 108 OperatingSegment. Accordingly, no separate segment information has been provided.
5.The figures of the quarter ended December 31, 2020 are the balancing figures between audited figures in respect of the full financial year ended 2020 and the published yearto date figures up to September 30, 2020
6Employee benefit expenses include one time cost of Rs. 16.8 crore and Rs. 19.5 crore for the quarter and year ended 31 December 2020 respectively towards OrganisationTransformation and Restructuring Programme implemented during the previous year.
7Estimation of uncertainties relating to the global health pandemic from COVID-19: The Company has considered the possible effects that may result from the pandemic relatingto COVID-19 in the preparation of the financial results including the recoverability of carrying amounts of financial and non-financial assets. In developing the assumptionsrelating to the possible future uncertainties in the global economic conditions because of the pandemic, the Company has, at the date of approval of the financial results, usedinternal and external sources of information and expects that the carrying amount of these assets will be recovered. The impact of COVID-19 on the financial results may bedifferent from that estimated as at the date of approval of these financial results
The Parliament of India has approved the Code on Social Security, 2020 (the Code) which may impact the contributions by the Company towards provident fund, gratuity and8.ESIC. The Code has been published in the Gazette of India however, the effective date has not yet been notified. The Company will assess the impact of the Code when itcomes into effect and will record any related impact in the period the Code becomes effective, if any.
Dated : 26 April 2021Place : Mumbai	zFOR CASTROL INDIA LIMITEDSandeep SangwanManaging DirectorDIN : 08617717

Deloitte Haskins & Sells LLP

Chartered Accountants One International Center Tower 3, 27\ -320" Floor Senapati Bapat Marg Elphinstone Road (West) Mumbai - 400 013 Maharashtra, India

Tele: + 91 22 6185 4000 Fax: +91 22 6185 4001

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF CASTROL INDIA LIMITED

• 1. We have reviewed the accompanying Statement of Unaudited Financial Results of CASTROL INDIA LIMITED ("the Company"), for the quarter ended 31 March 2021 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For DELOITTE HASKINS & SELLS LLP

Chartered Accountants Firm's Registration No. 117366W/W-100018

R.. t.9° )0" .,

Samir R. Shah Partner Membership No. 101708 UDIN: 21101708AAAABE3185

Place: MUMBAI

Date: 26 April 2021