CASTROLIND Q4 Results 2024

CASTROLIND Q4 Results 2024 

CASTROL India follows the fiscal calendar quarters, which is different from most businesses that operate in India. The CASTROL fiscal calendar quarter starts from January 1st to March 31st, as the Q1.

The last quarter of that year is said to be Q4 2023–24. The company follows the financial calendar year (January to December) for its financial reporting, which is typically different from an Indian firm's fiscal quarters that start from April 1st to June 30th as Q1.

CASTROLIND Q4 results for the financial years 2023–24 were announced on February 1st at BSE as part of SEBI regulations. The firm had a big growth rate of 7% compared to the previous year's same quarter.

The company is engaging Indian original equipment manufacturers (OEMs) in the electric vehicle industry to give EV fluids and training to more than 1000 independent mechanics for EV-ready.

The company is trying to improve its presence in rural India, with more than 32,000 outlets that currently operate in deep hinterlands away from the big cities. The company is fixated on improving its sustainability goals with projects like introducing bottles with 30% post-consumer recycled material (PCR), now reaching 100%, and other campaigns.

The company has announced ₹4.50/- per equity share of the face value of ₹5 for the financial year 2023–2024, which was finalized at the 46th annual general meeting that was held on April 8th.  

Castrol Annual Report 2023 

Castrol's Annual Report 2023 talks about the firm’s presence in the Indian lubricants market, which is the third biggest in the world due to the automotive industry and commercial vehicles.

In the expanding SUV market, MAGNATEC SUV 5W30 lubricant was introduced and has undertaken campaigns like #BadhteRahoAagey and #PragatiKiPaathshaala to improve the trucker's livelihood and skill development programs.

Different industrial equipment requires lubricant in their operations, like ball bearing lubricants and heavy machinery. In the marine segment, the Castrol Marine Technical Service team has been working with MAN Energy to develop specialized lubricants and alternate fuels for offshore oil rigs.

The company is also making its presence felt in the electric vehicle's fluids through its tie-up with electric vehicle OEM producers to make better EV transmission fluids. The company has also won awards for the best safety practices in its workplace. 

Why do Countries and Firms use Differing Fiscal Calendars and Quarters? 

Governments and firms across the world use different calendars for their financial reporting and business cycles based on their needs for better policy decision-making. As with everything, governments and big businesses experience a cash crunch on their balance sheets.

If they are not aligned properly, then financial credentials will go apeshit. That is said to be one of the primary reasons for the differing fiscal calendars and quarters that exist in the world.

But 70% of the IMF member countries follow the Gregorian calendar showcasing that the world is somewhat aligned, but most countries follow different calendars not only for financial reasons but also for historical, cultural, political, climate, and economic reasons.

Each has their own reasoning and semantic logic based on their experiences. We have given some countries differing calendar periods.

What is the Fiscal Calendar and Quarters? 

The fiscal calendar or financial year is the one year for which the financial statements of the company or government are measured based on the revenue and expenditures, i.e., finance, of that firm or government.

The quarters are regular 3-month intervals for the firms to assess financial strength, capital gains, and dividends. They are Q1, Q2, Q3, and Q4. Each quarter, the company will release statements to announce its accolades and future ideas or projects to attract investors.

Quarterly reporting has evolved business practices that most have followed after improvements in accounting and audit practices started to emerge. This helps companies look after short-term goals and long-term gains to show shareholders and investors alike that the value of the company will increase in terms of its market capability and innovation.