Castrol India, one of the country’s leading lubricant companies, has appointed Mrinalini Srinivasan as its new Chief Financial Officer (CFO) effective immediately. This strategic appointment comes as Castrol India looks to consolidate its market leadership while navigating evolving sectoral dynamics, electric mobility transitions, and digital transformation priorities.
Who is Mrinalini Srinivasan?
Mrinalini Srinivasan is a seasoned finance professional with over two decades of experience across leading multinational corporations. Prior to joining Castrol India, she held key positions in financial planning, investor relations, business partnering, and controllership functions at companies such as BP, GE, and Hindustan Unilever.
Key highlights of her career include:
- Leading strategic finance initiatives at BP’s global lubricants business
- Driving transformational cost optimisation and digital finance projects
- Managing financial operations across complex multi-country environments
- Championing diversity and mentoring women finance professionals
She is a Chartered Accountant (CA) and an MBA from a leading Indian management institute, known for her analytical acumen and collaborative leadership style.
Leadership commentary on the appointment
Sandeep Sangwan, Managing Director, Castrol India, welcomed the appointment stating:
“Mrinalini brings a rare blend of strategic thinking and operational execution. Her deep understanding of the energy and lubricants business, combined with strong global finance exposure, will be invaluable as we accelerate our growth strategy.”
He further emphasised that the company is confident her leadership will drive disciplined capital allocation, financial resilience, and innovation investments required in an evolving market landscape.
Strategic significance of the CFO appointment
The appointment of Mrinalini Srinivasan comes at a time when Castrol India is:
- Diversifying beyond traditional lubricants into services, EV fluids, and digital retail partnerships
- Strengthening operational efficiencies and supply chain agility amid input cost volatilities
- Expanding strategic collaborations with OEMs, workshops, and quick-service formats
- Aligning with BP’s global decarbonisation and sustainability goals
Recent Castrol India business highlights
| Metric / Initiative | Detail |
|---|---|
| Q1 2025 Net Profit | ₹238 crore, up 7% YoY |
| Revenue Growth | 5.2% YoY supported by retail demand recovery |
| EV fluids segment | Launch of Castrol ON range for 2W and 4W EVs in India |
| Partnerships | Tie-ups with Jio-bp, Tata Motors, and OEM dealerships |
| Workshops network | Over 250 Castrol Auto Service centres operational |
| Digital focus | Rollout of Castrol FastScan for mechanic loyalty programmes |
Industry context: Lubricants sector transformation
India’s lubricants market, estimated at 2.5 million kilolitres annually, is witnessing structural shifts driven by:
- Rising EV penetration reducing conventional engine oil demand
- Increasing focus on high-performance, longer-drain interval oils
- Growing importance of aftermarket branding, digital service integration, and direct consumer connect
In this backdrop, robust financial strategy and agile capital deployment become critical to sustaining competitive advantages.
Analysts’ view on the leadership change
Market analysts noted that CFO appointments are strategic inflexion points, especially for companies navigating sectoral disruptions. Mrinalini Srinivasan’s appointment is seen as:
- Reinforcing Castrol India’s commitment to strong corporate governance and transparent financial management
- Equipping the company to pursue select M&A opportunities or strategic technology acquisitions in future
- Enhancing diversity at senior leadership levels, aligning with global ESG commitments
Women leadership in Indian corporate CFO roles
Mrinalini’s elevation also comes amid a growing push for gender diversity in finance leadership. As per industry surveys:
| Company Type | % Of Women CFOs (2024) |
|---|---|
| Nifty 50 companies | ~6% |
| BSE 500 companies | ~9% |
| Mid-cap companies | ~12% |
| Lubricants & energy sector | Below 5% |
Her appointment is therefore a positive step towards bridging this gap and inspiring future women leaders in core manufacturing-linked sectors.
What lies ahead for Castrol India under Mrinalini Srinivasan?
Key strategic finance priorities likely to shape her initial tenure include:
- Driving profitable volume growth through data-led channel and portfolio optimisation
- Cost transformation initiatives across manufacturing and distribution networks
- Investments in EV fluids and digital service ecosystems to build long-term growth levers
- Enhancing working capital efficiency to maintain robust cash flows amid market volatility
- Stakeholder engagement and investor relations to communicate Castrol India’s strategic pivot effectively
Company statement on succession planning
The Board of Castrol India highlighted that Mrinalini’s appointment is part of its structured succession planning process to ensure seamless leadership transitions. The company also reiterated its focus on nurturing future leaders from within while attracting top external talent aligned with its vision.
Recent global leadership changes at BP and Castrol
The appointment aligns with broader leadership restructuring seen across BP and Castrol in 2025:
- BP appointed Murray Auchincloss as CEO earlier this year to drive energy transition priorities
- Castrol globally has elevated new heads for EV fluids business and strategic collaborations
- Focus is on leveraging synergies across lubricants, EV charging, and mobility services businesses
Conclusion
Mrinalini Srinivasan’s elevation as Castrol India’s CFO marks a crucial milestone for the company as it repositions itself amid rapid automotive, energy, and technology transformations. With her extensive cross-sectoral finance expertise and strategic vision, she is expected to play a pivotal role in driving sustained profitable growth, digital transformation, and stakeholder value creation for Castrol India in the years ahead.
Disclaimer: This news article is intended solely for informational purposes. Readers are advised to refer to official filings, investor communications, and company announcements for precise leadership, strategic, and financial details before making any professional, investment, or policy decisions.
