Castrol India appoints Kedar Lele as MD

Castrol India said that it board has approved the appointment of Kedar Lele as managing director (MD) of the company with effect from 1 November 2024 for period of 5 years.

Kedar Lele will join Castrol with effect from 1 October 2024 as vice president, Castrol India and South Asia and shall work closely with Sandeep Sangwan for a smooth transition before assuming the office of managing director of the company from 1 November 2024.

Kedar holds an MBA from the Indian School of Business, Hyderabad, with a dual specialization in Strategic Marketing and Operations Management. He graduated from Mudra Institute of Communications, Ahmedabad with a specialisation in Brand Management & Account Planning.

Kedar brings over 25 years of work experience spanning advertising, internet, FMCG sales & marketing and general management roles, of which he has spent approximately 20 years at Unilever.

Kedar has a proven track record of strong leadership and performance across General Management, Customer Development and Marketing roles. Having led diverse business segments (Ice creams, Infant & Feminine Hygiene) and channels (Shakti, Rural, Modern Trade, and e-commerce), he brings a comprehensive understanding of the India & South Asia market and its inherent complexities.

Castrol India is one of India's leading lubricant companies with brands such as Castrol CRB, Castrol GTX, Castrol Activ, Castrol MAGNATEC and Castrol VECTON. The company also operates in select segments like high performance lubricants and metalworking fluids used in a wide variety of industries such as automotive manufacturing, mining, machinery, and wind energy.

The companys net profit grew 25.15% to Rs 241.94 crore in Q4 CY23 as compared with Rs 194.42 crore posted in Q4 CY22. Revenue from operations increased by 7.49% year on year (YoY) to Rs 1,264.04 crore in the quarter ended 31 December 2023.

The scrip fell 0.84% to end at Rs 200.20 on Tuesday, 11 June 2024.

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