Revenue/EBITDA/PAT of Rs12.6/3.3/2.42bn, up 7%/31%/25% yoy and 7%/23%/24% qoq. Numbers were a 10-12% beat to consensus estimates.
Gross profit was up 21% yoy/16% qoq, while opex also rose 12%/9%. EBITDA margin improved from 22.7% to 26.0% qoq and 21.3% yoy.
D/A rose 9% qoq to Rs250mn while Other Income was up 13% yoy/9% qoq. Tax rate was at 25.4% in Q4.
Castrol auto service outlets crossed 450, while mgmt stated deft volume and margin management in CY23 and guided to steady inflation and better consumer confidence in CY24.
Board has declared final dividend of Rs4.5/sh
Awaiting volume details but overall strong set of numbers. We expect Gulf Lube also to report similar trends.
Concall tomorrow at 12
