Buy Castrol, target price Rs 142: Sagar Doshi

Sagar Doshi of Edelweiss Financial Services has a buy call on Castrol India with a target price of Rs 142. The current market price of Castrol India is Rs 135.1. Sagar Doshi recommended to keep a stop loss at Rs 129.

Castrol India, incorporated in the year 1979, is a mid cap company (having a market cap of Rs 13,229.51 crore) operating in the petrochemicals sector.

Castrol India key products/revenue segments include petroleum products which contributed Rs 3,836.10 crore to sales value (99.59 per cent of total sales), other operating revenue which contributed Rs 10.16 crore to sales value (0.26 per cent of total sales) and scrap which contributed Rs 5.30 crore to sales value (0.13 per cent of total sales) for the year ending 31 December, 2017.


For the quarter ended 30-06-2019, the company has reported standalone sales of Rs 1,039.60 crore, up 6.49 per cent from last quarter sales of Rs 976.20 crore and up 2.20 per cent from last year same quarter sales of Rs 1017.20 crore. The company has reported a net profit after tax of Rs 182.70 crore in latest quarter. The company’s top management includes Jayanta Chatterjee, Omer Dormen, R Gopalakrishnan, Rakesh Makhija, Ramchander Avanavadi Subramaniam, Sashi Mukundan, Uday Khanna, Rashmi Joshi and Sangeeta Talwar. The company has Deloitte Haskins & Sells LLP as its auditor. As on 30-09-2019, the company has a total of 989,122,384 shares outstanding.