Castrol India appoints supply chain VP as wholetime director
Castrol India Limited has appointed Mayank Pandey, vice president – Supply Chain, as a wholetime director of the company. Pandey, who has been VP of supply chain since 1 January 2021, has more than two decades of industry experience, having spent the last 14 years with bp. He has diverse international market experience leading teams and operations in India, China, Japan, Korea and Europe.
“On behalf of the Board, I would like to extend a warm welcome to Mayank. We look forward to benefit from his fresh perspective and diverse experience as we rethink supply chain strategies for the company in these disruptive and unprecedented times,” said R. Gopalakrishnan, chairman of the Board of Castrol India.
A management graduate from S P Jain Institute of Management and a mechanical engineer from Harcourt Butler Technological Institute, Mayank is passionate about building high performance teams and customer centricity. His professional experience spans lubricants, business consulting, paints and engineering.
Mayank’s previous role was supply chain planning head for Castrol Europe. In his earlier roles at bp, Mayank has led supply chain strategy and transformation for Castrol China, supply chain operations for Castrol North Asia as well as supply chain logistics and planning for Castrol India.
On August 2, Castrol India reported a solid financial performance and resilient business delivery in the second quarter of 2021, maintaining the momentum built over the previous few quarters.
“We delivered a strong set of numbers with both topline and bottom line seeing good growth versus the same period of last year, which was subdued on account of a national lockdown brought about by the first wave of the pandemic,” said Sandeep Sangwan, managing director, Castrol India.
Second quarter revenue from operations was 81% higher at INR890 crores (USD120 million) and second quarter profit before tax was 115% higher at INR190 crores (USD25.6 million).
Due to the second wave of the Covid-19 pandemic hitting India, the quarter saw challenges in the form of localized lockdowns, muted demand, as well as a sharp rise in input costs.
“Our timely pricing interventions, along with agility and responsiveness helped us navigate this dynamic market situation. We continued to invest in our brands with increased marketing and advertising spends to support value delivery to customers and reinforce brand salience,” he said.
“In our endeavor to deliver quick and reliable service brand experience to consumers in collaboration with Jio-bp at their retail sites, we recently launched a new concept of Castrol Express Oil change outlets which offer quick oil change service for consumers on-the-go,” Sangwan added.