Abstract
Difficult time has it's own merits. This is as much true for an individual as much it is for an organization. During this time the entire organization gets an opportunity to display it's resilience through it's innovative skills and creative abilities which otherwise would decay in dark anonymity in the brightness of prosperity. CIL has passed through the ‘survival phase’, ‘chasing capacity and chasing growth phase’, and ‘cost effectiveness phases’ during the last one and a half decade. Further, British Petroleum (BP) acquired 71% equity stake in CIL in March 2000. The cost management systems of CIL have undergone a sea change during this period.
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References
1.
Horace (65-8 BC).
4.
The share of automotive segments in the lubricants industry is 60% as reported by www.karvey.com.
5.
BP operates in more than 100 countries and employs more than 100,000 people whilst serving 10 million customers a day across six continents.
6.
BP acquired 70.92% equity stake in CIL in March 2000. (For shareholding pattern, refer to table 9).
7.
Castrol India Ltd: Annual Report 2001, p26 .
8.
Castrol India Limited: Annual Report 2001. p2 .
9.
Castrol India Limited: Annual Report 1999, p9 .
10.
The processing, testing and approval time are 24 hours, 4 hours, and two & half hours respectively.
11.
An overview of CIL's present activity-based costing systems is as in Fig. 2.
12.
This is not necessarily in disagreement with the views of other senior colleagues in the team.
13.
The profile of Castrol Management Team is in Annexure II.
14.
The Castrol global produst costing policy is at Annexure I.
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Adapted from the Annual Report 2001 of the Castrol India Limited.