Castrol India Ltd Directors Report.

To the Members,

Your Companys Board of Directors ("Board") is pleased to present the Forty Second Annual Report of Castrol India Limited ("Castrol" or "Company") for the financial year ended 31 December 2019 ("year under review" or "year" or "FY19").

In compliance with the applicable provisions of Companies Act, 2013, (including any statutory modification(s) or re-enactment(s) thereof, for time being in force) ("Act") and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Regulations"), this report covers the financial results and other significant developments during the financial year ended 31 December 2019 and upto the date of the Board meeting held on 17 June 2020 to approve this report, in respect of Castrol India Limited.

1. FINANCIAL RESULTS

The Companys financial performance for the financial year ended 31 December 2019 is summarized below:

Particulars For the year ended 31 December 2019 For the year ended 31 December 2018
(INR in crores) (INR in crores)
Sales (a) 3877 3905
Other income (b) 65 84
Total Revenue (a+b) 3942 3989
Profit before tax and depreciation 1217 1154
Depreciation and amortization 70 56
Profit before tax 1147 1098
Tax expense (including deferred tax) 320 390
Profit after tax 827 708
Other Comprehensive income (net of tax) (4.3) (1.1)
Total Comprehensive income 823 707
Balance brought forward 643 503
Profit available for appropriation 827 708
Appropriation
Dividend (incl. tax) 626 566
Balance carried forward 840 643

2. PERFORMANCE

Revenue from operations of your Company is at similar levels as previous year. Costs of materials were lower by about 8% over the previous year mainly due to decline in input costs as a result of efficiency and procurement saving during the year. Operating and other expenses increased by INR 49 Crores as compared to the previous year in line with inflation. Profit before Tax increased by about 4% over previous year to INR 1,147 Crores. Profit after Tax increased by 17% over the previous year to INR 827 Crores on account of higher PBT and reduction in statutory tax rate. Your Companys performance has been discussed in detail in the Management Discussion and Analysis Report. Your Company does not have any subsidiary or associate

or joint venture company. There are no material changes and commitments affecting the financial position of your Company, which have occurred between the end of the year and date of this report. Further, there has been no change in the nature of business of the Company.

RESERVES

There is no amount proposed to be transferred to the reserves.

CHANGES IN SHARE CAPITAL

During the year under review there was no change in the paid-up share capital of the Company.

3. RETURNS TO INVESTORS (DIVIDEND)

The Board of Directors of the Company had approved the Dividend Distribution Policy in line with Regulation 43A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The policy is separately provided as Annexure I forming an integral part of this Report and is also uploaded on the website of the Company at https:// www.castrol.com/content/dam/castrol/country- sites/en_in/india/home/corporate-governance/ dividend_distribution_policy.pdf

The Board had recommended a final dividend of INR 3/- per equity share for the financial year ended 31 December 2019 (2018: final dividend INR 2.75/- per equity share). Owing to delay in holding the 42nd Annual General Meeting (AGM) of the Company due to spread of the coronavirus pandemic and nation-wide lockdown, the Board decided to revoke and cancel the aforesaid recommendation and declared a second interim dividend of INR 3/- per equity share (which is at the same rate as recommended by the Board as Final Dividend for the approval by the Shareholders at the 42nd AGM of the Company) for the financial year ended 31 December 2019. This is in addition to an interim dividend of INR 2.50/- per equity share (2018: interim dividend INR 2.25/- per equity share)

The dividend payout for the year under review is in accordance with your Companys policy to pay sustainable dividend linked to long-term growth objectives of your Company to be met by internal cash accruals.

4. TRANSFERS TO THE INVESTOR EDUCATION AND PROTECTION FUND (IEPF)

Pursuant to applicable provisions of the Companies Act, 2013 ("Act") read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 ("IEPF Rules"), all unpaid or unclaimed dividends are required to be transferred by the Company to the Investor Education and Protection Fund ("IEPF" or "Fund") established by the Central Government, after completion of seven years from the date the dividend is transferred to unpaid/unclaimed account. Further, according to the Rules, the shares in respect of which dividend has not been paid or claimed by the members for seven consecutive years or more shall also be transferred to the demat account created by the IEPF Authority.

The Company had sent individual notices and also advertised in the newspapers seeking action from the members who have not claimed their dividends for seven consecutive years or more. Thereafter the Company has transferred such unpaid or unclaimed dividends and corresponding shares to IEPF, up to and including the interim dividend for the financial year ended 31 December 2012. There has been an instance whereby undisputed amounts required to be transferred to IEPF were transferred by the Company within 45 days from the last date of payment to the IEPF with respect to dividends declared on 16 July 2012 amounting to INR 0.65 crores, owing to technical issues faced with the MCA filing system during the aforesaid transfer.

Members/claimants whose shares, unclaimed dividend, have been transferred to the IEPF demat Account or the Fund, as the case may be, may claim the shares or apply for refund by making an application to the IEPF Authority in Form IEPF - 5 (available on http://www.iepf.gov.in) along with requisite fee as decided by the IEPF Authority from time to time. The member/claimant can file only one consolidated claim in a financial year as per the IEPF Rules.

The Company will be transferring the final dividend and corresponding shares for the financial year ended 31 December 2012 and the interim dividend and corresponding shares for the financial year ended 31 December 2013 on or before 30 September 2020 and 6 October 2020 respectively. The IEPF Authority of the Ministry of Corporate Affairs (MCA) vide its circular ref. 16/2020 dated 13 April 2020 has allowed filing of the IEPF related Forms (including return to be filed after the funds are transferred to IEPF) till 30 September 2020, without any additional fees thus allowing stakeholders to plan other concomitant actions accordingly. Members are requested to ensure that they claim the dividends and shares referred above, before they are transferred to the said Fund. The due dates for transfer of unclaimed dividend to IEPF are provided in the report on Corporate Governance.

Details of dividends / underlying shares for which dividends have not been claimed / paid, will be made available on the website at https:// www.castrol.com/en_in/india/home/investors/ statement-of-unclaimed-dividend-and-shares. html Shareholders are encouraged to verify their records and claim their dividends of all the earlier seven years, if not claimed.

5. SUPPLY CHAIN

Your Companys supply chain function remained an important enabler for the organization. The five strategic pillars of supply chain continued to be:

1. Contemporary, differentiated and competitive customer service

2. Premium quality - a source of enhanced customer experience

3. Supply chain capabilities - assets and resources to support growth

4. Consistent processes

5. Generating value for business through efficiency initiatives.

Health, Safety, Security and Environment, along with Ethics and Values formed the core of our operations.

The safety agenda continued to be driven strongly through plant safety and road safety initiatives. We conducted our annual road safety campaign with heavy vehicle drivers. With a strong focus on safe driving, it continued to be an important forum for engagement with an overwhelming participation from our employees to initiate and continue conversations on safety with the heavy vehicle drivers.

As part of the safe control and monitoring mechanism, safety observations continued to be recorded and proactively addressed. The Control of Work guidelines and Operating Management System processes across the plants and other supply chain functions continued to be strengthened.

Customer service and product availability continued to be driven by proactively anticipating demand changes and variability, and through the order fulfillment processes. We managed our operations without impact to service despite certain incidents at our material suppliers end. Plant production, raw materials and packaging supplier reliability were also important pillars for a strong service delivery. With a close ear to the ground and sensing our customer needs, we introduced a variety of new products across various segments. We continued to serve our customers and OEM partners both old and new with a focus on premium brand experience.

Throughout the year, there was a strong focus on generating value through efficient processes and optimized operations to support our business delivery. Efficient sourcing and transportation initiatives, focusing on cost optimization, were led successfully, helping deliver additional value for business.

6. DIRECTORS AND KEY MANAGERIAL PERSONNEL

The following are the changes in the Directors and Key Managerial Personnel during the financial year ended 31 December 2019:

a. cessation of Mr. Peter Weidner (DIN: 03620389) as Non-Executive, Nominee Director on the Board of the Company from close of business hours on 31 January 2019.

b. appointment of Mr. Ramchander Avanavadi Subramaniam (DIN: 00046647) as NonExecutive, Nominee Director on the Board of the Company with effect from 29 April 2019.

c. appointment of Mr. Mark Josceline Sclater (DIN: 08454084) as Non-Executive, Nominee Director on the Board of the Company with effect from 16 May 2019.

d. re-appointment of Mr. R. Gopalakrishnan (DIN: 00027858) as an Independent Director of the Company for a term of five (5) years with effect from 1 October 2019 i.e. upto 30 September 2024 subject to the approval of the members of the Company by way of special resolution.

e. cessation of Mr. S.M. Datta (DIN: 00032812) as an Independent Director and Chairman of the Company with effect from 1 October 2019.

f. appointment of Mr. R. Gopalakrishnan (DIN: 00027858) as Chairman of the Board of Directors of the Company with effect from 1 October 2019.

g. re-appointment of Mr. Uday Khanna (DIN: 00079129) as an Independent Director of the Company for a term of five (5) years with effect from 1 October 2019 i.e. upto 30 September 2024 subject to the approval of the members of the Company by way of special resolution.

h. appointment of Mr. Rakesh Makhija (DIN: 00117692) as an Additional (Independent) Director of the Company with effect from 1 October 2019 for a period of five (5) years, subject to approval of the members of the Company.

i. re-appointment of Mr. Omer Dormen (DIN: 07282001) as Managing Director of the Company for a term of one (1) year with effect from 12 October 2019 upto 11 October 2020 subject to the approval of the members of the Company and the Central Government.

j. re-appointment of Mr. Jayanta Chatterjee (DIN: 06986918) as Wholetime Director- Supply Chain of the Company for a term of five (5) years with effect from 30 October 2019 i.e. upto 29 October 2024 subject to the approval of the members of the Company.

k. cessation of Mr. Mark Josceline Sclater (DIN: 08454084) as a Nominee Director on the Board of the Company with effect from the close of business hours on 6 December 2019.

l. cessation of Mr. Omer Dormen as the Managing Director of the Company with effect from close of business hours on 31 December 2019.

m. appointment of Mr. Sandeep Sangwan (DIN: 08617717) as an Additional Director and the Managing Director of the Company for a period of five (5) years with effect from 1 January 2020, subject to the approval of the members of the Company and the Central Government.

In accordance with the provisions of the Act and the Articles of Association of the Company, Ms. Rashmi Joshi (DIN: 06641898), CFO & Whole-time Director of the Company, retires by rotation at the ensuing Annual General Meeting and being eligible has offered herself for re-appointment. Details of the Director proposed to be re-appointed at the ensuing Annual General Meeting, as required by Regulation 36(3) of the SEBI Regulations, 2015 and SS - 2 (Secretarial Standards On General Meetings) are provided at the end of the Notice convening the 42nd Annual

General Meeting of the Company. Further, details of the directorships held by Ms. Rashmi Joshi (DIN: 06641898) in other companies, are given in the Corporate Governance Report.

The Independent Directors of your Company have certified their independence to the Board, stating that they meet the criteria for independence as mentioned under Section 149 (6) of the Act. There was no change in the composition of the Board of Directors and Key Managerial Personnel during the year under review, except as stated above.

The Board is of the opinion that the Independent Directors of the Company possess requisite qualifications, experience and expertise in the fields of finance, people management, strategy, auditing, tax and risk advisory services, banking, financial services, investments; and they hold highest standards of integrity.

The Independent Directors of the Company have registered themselves with the Indian Institute of Corporate Affairs, Manesar (IICA) as required under Rule 6 of Companies (Appointment and Qualification of Directors) Rules, 2014. The Independent Directors of the Company have served for more than ten years on board of listed entities and hence shall not be required to pass the online proficiency self-assessment test as per the proviso to Rule 6(4) of Companies (Appointment and Qualification of Directors) Rules, 2014.

7. POLICY ON NOMINATION, INDEPEN-DENCE, REMUNERATION, DIVERSITY AND EVALUATION

The Policy on Nomination, Independence, Remuneration, Diversity and Evaluation, approved by the Nomination and Remuneration Committee of your Company and which has been adopted by the Board of Directors, is annexed as Annexure II to this report of the Board to the members. This policy is also available on the website of the Company at https://www.castrol.com/content/ dam/castrol/country-sites/en_in/india/home/ corporate-qovernance/nrc_policy_cil_2018.pdf

8. BOARD EVALUATION

The Nomination and Remuneration Committee of your Company approved the Policy on Nomination, Independence, Remuneration, Diversity and Evaluation ("Policy"), which has been adopted by the Board of Directors. The Policy provides for evaluation of the Board, the committees of the Board and individual directors, including the Chairman of the Board. The Policy provides that evaluation of the performance of the Board as a whole and the Board Committees and individual Directors shall be carried out annually.

Your Company has appointed a reputed agency that engages with the Chairman of the Board and Chairman of the Nomination and Remuneration Committee in respect of the evaluation process. The agency prepares an independent report which is used for giving appropriate feedback to the Board/Committees/Directors for discussions in the meetings.

During the year, the evaluation cycle was completed by the Company which included the evaluation of the Board as a whole, Board committees and individual directors. The evaluation process focused on various aspects of the Board and Committees functioning such as composition of the Board and its committees, experience and competencies, performance of specific duties, obligations and governance issues. A separate exercise was carried out to evaluate the performance of individual Directors on parameters such as attendance, contribution and exercise of independent judgment.

The results of the evaluation of the Board and its committees were shared with the Board and its respective committees. The Chairman of the Board had individual discussions with each member of the Board to discuss the performance feedback based on self-appraisal and peer review. The Nomination and Remuneration Committee Chairman discussed the performance review with the Chairman of the Board.

The Independent Directors met on 23 October 2019 to review performance evaluation of NonIndependent Directors and the Board of Directors and also of the Chairman taking into account views of Executive Directors and Non-Executive Directors.

Based on the outcome of the evaluation, the Board and its committees have agreed on various action points, which would result in each Director, Board Committees and the Board playing more meaningful roles to increase shareholder value.

9. BOARD AND COMMITTEES

The Board met four times during the year, details of which are given in the Corporate Governance Report that forms part of this annual report. The intervening gap between the meetings was within the period prescribed under the Act and the SEBI Regulations. Details of all the committees of the Board have been given in the Corporate Governance Report.

10. CORPORATE GOVERNANCE

Your Company is part of BP Group which is known globally for best standards of governance and business ethics. Your Company has put in place governance practices as prevalent globally. The Corporate Governance Report and the Auditors Certificate regarding compliance of conditions of Corporate Governance are made part of the annual report.

11. CORPORATE SOCIAL RESPONSIBILITY

At Castrol India Limited, we believe that we have a responsibility to bring enduring positive value to communities we work with. In line with our core theme to keep India moving, we have and will continue to build enduring and engaging relationships with key stakeholders in the mobility sector.

Truck drivers and mechanics are two key partners who play a significant role in keeping the wheels of this sector moving. Truck drivers carry the majority of freight traffic in the country while mechanics service one of the largest automotive markets in the world. However, their skills, livelihood opportunities and socio-economic conditions need more focus.

At Castrol India Limited, we are committed to making a positive impact in the lives of truck drivers and mechanics by preparing them to face todays reality and leverage tomorrows opportunity.

In line with this vision, Castrol India Limited now focusses on two key flagship CSR programmes:

• Programme for holistic development of truck drivers - Castrol Sarathi Mitra

• Programme for mechanics with an aim to strengthen skills development in automotive and industrial sectors, with a focus on technology - Castrol Eklavya

Additionally, Castrol India Limited continues to support community development initiatives around areas of operations and presence. The Company, from time to time, supports humanitarian aid activities in India, by providing relief and rehabilitation to people impacted by natural disasters.

The Corporate Social Responsibility Policy is available on the website of the Company at https:// www.castrol.com/en_in/india/home/castrol-story/ corporate-social-responsibility.html.

The annual report on CSR activities is annexed to this report as Annexure III.

12. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirement under Sections 134(3)(c) and 134(5) of the Act, with respect to the Directors Responsibility Statement, it is hereby confirmed:

a. in the preparation of the annual accounts for the year ended 31 December 2019, the applicable accounting standards read with requirements set out under Schedule III to the Act, have been followed and there are no material departures from the same;

b. the Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of your Company as at 31 December 2019 and of the profit of your Company for the year ended on that date;

c. the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of your Company and for preventing and detecting fraud and other irregularities;

d. the Directors have prepared the annual accounts on a going concern basis;

e. the Directors have laid down internal financial controls to be followed by your Company and that such internal financial controls are adequate and are operating effectively and

f. the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are efficient and operating effectively.

13. RISK MANAGEMENT AND ADEQUACY OF INTERNAL FINANCIAL CONTROLS

Your Company has set up a Risk Management Committee. Your Company has also adopted a Risk Management Policy, the details of which are given in the Corporate Governance Report that forms part of this Annual Report.

Your Company maintains an adequate and effective internal control system commensurate with its size and complexity. We believe that these internal control systems provide, among other things, a reasonable assurance that transactions are executed with management authorization and that they are recorded in all material respects to permit preparation of financial statements in conformity with established accounting principles and that the assets of your Company are adequately safe-guarded against significant misuse or loss. An independent internal audit function is an important element of your Companys internal control system. The internal control system is supplemented through an extensive internal audit programme and periodic review by management and Audit Committee.

Your Company has in place, adequate Internal Financial Controls with reference to financial statements. During the year, such controls were tested and no reportable material weaknesses in the design or operation were observed.

14. RELATED PARTY TRANSACTIONS

Your Company has adopted a Related Party Transactions Policy. The Audit Committee reviews this policy from time to time and also reviews and approves all related party transactions, to ensure that the same are in line with the provisions of applicable law and the Related Party Transactions Policy. The Committee approves the related party transactions and wherever it is not possible to estimate the value, approves limit for the financial year, based on best estimates. All related party transactions are reviewed by an independent accounting firm to establish compliance with law and limits approved.

All related party transactions entered during the year were in the ordinary course of the business and on arms length pricing basis. No material related party transactions were entered into during the year by your Company. Accordingly, the disclosure of related party transactions as required under Section 134(3)(h) of the Act, in Form AOC-2 is not applicable to your Company.

In conformity with the requirements of the Act, read with SEBI Regulations, the policy to deal with related party transactions is also available on Companys website at https://www.castrol. com/en_in/india/home/investors/corporate- governance.html

15. DEPOSITS

Your Company has not accepted any deposits under Chapter V of the Act during the financial year and as such, no amount on account of principal or interest on deposits from public as outstanding as on 31 December 2019.

16. PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEES GIVEN AND SECURITIES PROVIDED

There are no loans, guarantees and investments made by your Company pursuant to Section 186 of the Act.

17. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, RESEARCH & DEVELOPMENT (R&D) AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The particulars relating to conservation of energy, technology absorption, foreign exchange earnings and outgo, as required to be disclosed under the Act, are provided as Annexure IV.

18. MATERIAL CHANGES OCCURRED AFTER END OF FINANCIAL YEAR

No material changes and commitments which could affect your Companys financial position have occurred between the end of the financial year of your Company and date of this report.

19. AUDITORS

STATUTORY AUDITOR

The statutory auditor of your Company namely, Deloitte Haskins & Sells LLP, Chartered Accountants, were appointed for a period of five years at the Annual General Meeting held on 31 May 2017. The Companies (Amendment) Act, 2017 has waived the requirement for ratification of the appointment by the members at every Annual General Meeting. Hence, the approval of the members is not being sought for the re-appointment of the statutory auditor and in line with their resolution of appointment passed at the Annual General Meeting held on 31 May 2017, the statutory auditor will continue to hold office till the conclusion of the 44th Annual General Meeting of the Company. The statutory auditor has confirmed their eligibility and submitted the certificate in writing that they are not disqualified to hold the office of the statutory auditor. The report given by the statutory auditor on the financial statements of the Company is part of the Annual Report. There is no qualification, reservation, adverse remark or disclaimer given by the statutory auditor in their report.

COST AUDITOR

M/s. Kishore Bhatia & Associates, Cost Accountants carried out the cost audit for the Company. They have been re-appointed as cost auditors for the financial year ending 31 December 2020. The Company has maintained cost records as specified under sub-section (1) of section 143 of the Companies Act, 2013 and the same shall be audited by the cost auditor i.e. M/s. Kishore Bhatia & Associates, Cost Accountants for the financial year 2019.

SECRETARIAL AUDITOR

The Board had appointed S. N. Anantha- subramanian & Co., Company Secretaries in Whole-time Practice, to carry out secretarial audit under the provisions of Section 204 of the Act, for the financial year ended 31 December 2019. The secretarial auditors report to the shareholders does not contain any qualification, and is annexed to this report marked as Annexure V.

20. COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD AND GENERAL MEETINGS

During the financial year, your Company has complied with applicable Secretarial Standards issued by the Institute of Company Secretaries of India.

21. PARTICULARS OF EMPLOYEES

Disclosures with respect to the remuneration of Directors and employees as required under Section 197 of the Act, and Rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 have been annexed to this report as Annexure VI.

Details of employee remuneration as required under provisions of Section 197 of the Act, and Rule 5(2) & 5(3) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, form part of this report. As per the provisions of Section 136 of the Act, the Report and Financial Statement are being sent to the Members of your Company and others entitled thereto, excluding the statement on particulars of employees. Copies of said statement are available at the registered office of the Company during the designated working hours from 21 days before the Annual General Meeting till date of the Annual General Meeting. Any member interested in obtaining such details may also write to the corporate secretarial department at the registered office of the Company.

22. PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE

Your Company firmly believes in providing a safe, supportive and friendly workplace environment - a workplace where our values come to life through the supporting behaviors. Positive workplace environment and a great employee experience are integral part of our culture. Your Company believes in providing and ensuring a workplace free from discrimination and harassment based on gender.

Your Company educates its employees as to what may constitute sexual harassment and in the event of any occurrence of an incident constituting sexual harassment, your Company has created the framework for individuals to seek recourse and redressal to instances of sexual harassment.

Your Company has a Sexual Harassment Prevention and Grievance Handling Policy in place to provide clarity around the process to raise such a grievance and how the grievance will be investigated and resolved. An Internal Complaints Committee has been constituted in line with the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

During the year there was one complaint of sexual harassment that was reported and the matter was under investigation as on 31 December 2019.

23. VIGIL MECHANISM

Your Company has a very strong whistle blower policy viz. Open Talk. All employees of your Company also have access to the Chairman of the Audit Committee in case they wish to report any concern. Your Company has provided a dedicated e-mail address for reporting such concerns. All cases registered under Whistle Blower Policy of your Company are reported to and are subject to the review of the Audit Committee.

24. ANNUAL RETURN

The annual return of the Company as required under the Companies Act, 2013 will be available on the website of the Company at https://www. castrol.com/en_in/india/home/investors/general- meeting.html

25. GENERAL DISCLOSURES

Your Directors state that no disclosure or reporting is required in respect of the following items as there were no transactions on these items during the year under review:

1. Issue of Equity Shares with differential rights as to dividend, voting or otherwise.

2. Issue of Equity Shares (including Sweat Equity Shares) to employees of your Company, under any scheme.

3. Your Company has not resorted to any buy back of its Equity Shares during the year under review.

4. Your Company does not have any subsidiaries. Hence, neither the Managing Director nor the Wholetime Directors of your Company received any remuneration or commission during the year, from any of its subsidiaries.

5. No significant or material orders were passed by the Regulators or Courts or Tribunals which impact the going concern status and your Companys operations in future.

6. No fraud has been reported by auditors under sub-section (12) of section 143.

26. AWARDS AND RECOGNITIONS

Your Company was recognized with many prestigious and diverse external accolades in 2019 which include:

1. ACEF Global customer Engagement Awards

- Bronze in Mobile Marketing (Effectiveness)

2. Economic Times Brand Equity Shark Awards 2019

3. ACEF Global customer Engagement Awards

- Gold in Mobile Marketing (Successful use of Technology)

4. RMAI Flame Awards Asia 2019 - Silver in the category of Best Direct Marketing Campaign of the year

5. RMAI Flame Awards Asia 2019 - Bronze in the category of Best Trade Engagement Campaign of the year

6. Creative Abbys 2019 - Bronze

7. Effies APAC 2019 in Automotive category - Gold

8. Effies APAC 2019 in the category of Positive Change Social Good - Brands - Bronze

9. ACEF Global Customer Engagement Awards 2019 - Gold

10. Effies India 2019 - Silver in Automobiles and Auto related category

11. Effies India 2019 - Bronze in Experiential Marketing

12. PR Asia Awards 2019 - Silver Trophy in Best PR campaign (PR event) category

13. International Safety Award 2018 by British Safety Council

14. Asia Pacific Quality Organization (APQO) Global Performance Excellence Award (GPEA) 2019

15. Campaign India PR awards 2019

16. Economic Times Brand Equity Kaleido Awards 2019

17. India Digital Crest Awards - 2 Golds

18. 3rd Rajasthan CSR Award in the category Livelihood

19. Golden Peacock Innovation Management Award 2019

20. The Silvassa plant of the Company is the first lubricants plant in India to be awarded the coveted Ford Q1 Certification

21. The Patalganga plant of the Company was the winner of the Golden Peacock Occupational Health & Safety Award 2018 in the industrial sector

22. Runners up in Classical category at The Mint Corporate Strategy Awards 2018

23. WARC Prize for Asian Strategy 2019

24. Mumbrella Asia Awards 2019

25. Indian Marketing Awards 2019 Customer Relationship Marketing - Gold

26. Indian Marketing Awards 2019 Customer Relationship Marketing - Bronze

27. Big Bang Awards 2019 for Best Integrated - Consumer Products others - Silver

28. Big Bang Awards 2019 for Direct Marketing - Gold

29. National Safety Council of India Award - Silver for Patalganga plant

30. Gold at The Effies 2019 in the Automotive (Aftermarket) category

31. Bronze at The Effies 2019 in Disruptive Differentiator category

32. Ms. Rashmi Joshi, Chief Financial Officer & Wholetime Director of the Company won the Treasury Today Asia Woman of the year - Adam Smith Awards Asia 2019

33. Grant Thornton SABERA Award 2019 for Castrol Sarathi Mitra program

27. ACKNOWLEDGEMENT

The Board wishes to place on record its sincere appreciation of the efforts put in by your Companys employees for achieving encouraging results under difficult conditions. The Board also wishes to thank the Members, distributors, vendors, customers, bankers, government and all other business associates for their support during the year

On behalf of the Board of Directors
Sandeep Sangwan Rashmi Joshi
Managing Director Chief Financial Officer
DIN:08617717 & Wholetime Director
Place : Mumbai DIN: 06641898
Date : 17 June 2020