Q1 results expectations fuel Castrol India

Castrol India moved up 3.43% to Rs 241 at 15:12 IST on BSE on reports the firm paid Rs 46 crore advance tax in Q1 March 2008 as compared to Rs 24 in Q1 March 2007.

A higher tax payment indicates higher net profit of the company in the quarter.

The scrip had touched a high of Rs 243.95 and a low of Rs 231.25 so far during the day. The stock had hit a 52-week high of Rs 374 on 31 December 2007 and a 52-week low of Rs 210 on 19 March 2007.

The mid-cap auto lubricants maker has an equity capital of Rs 123.64 crore. Face value per share is Rs 10.

At the current price of Rs 241, the scrip trades at a PE multiple of 13.12, based on Q4 December 2007 annualised EPS of Rs 18.36.

The net profit of Castrol India rose 49.1% to Rs 56.76 crore on 1.2% decline in sales to Rs 474.99 crore in Q4 December 2007 over Q4 December 2006.

Castrol India manufactures and markets a range of automotive and industrial lubricants. It markets automotive lubricants under two brands - Castrol and BP.