Castrol India bonus issue
Castrol India said its board will meet on 18 February 2010 to consider issue of bonus shares. The stock hit a high of Rs 724 so far during the day, which is a record high for the counter. The stock hit a low of Rs 680 so far during the day. The stock had hit a 52-week low of Rs 291.50 on 6 March 2009. The company’s equity capital is Rs 123.64 crore. Face value per share is Rs 10. The current price of Rs 706.05 discounts the company’s Q3 September 2009 annualized EPS of Rs 30.94, by a PE multiple of 22.82.
If approved by the board, this will be the seventh bonus from Castrol India. Earlier, the company had issued a liberal 1:1 bonus, each in May 1999, February 1994 and in June 1987. Also, it had issued a 3:5 bonus, each in May 1995, May 1992 and in November 1990.
Castrol India’s net profit surged 60.4% to Rs 95.60 crore on 1.8% rise in net sales to Rs 565.30 in Q3 September 2009 over Q3 September 2008. Castrol India manufactures and markets a range of automotive and industrial lubricants. It markets automotive lubricants under two brands – Castrol and BP.
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