ICICI Direct has given Hold recommendation for Castrol India with a target price of Rs. 110 in its research report issued on May 12, 2022

ICICI Direct’s research report on Castrol India

Castrol India, a subsidiary of BP, operates in the lubricants business and caters to automotive and industrial segments. Automotive segment volumes contribute 80-85% of total sales volume • Castrol has high pricing power and commands premium for its products.

Outlook

We retain HOLD rating on the stock. We value Castrol India at Rs 110 i.e.~13x CY23E EPS.

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