Tide Water Oil Co (I) Ltd

₹ 1,804 5.31%

26 Apr 12:47 p.m.

veedolindia.com BSE: 590005 NSE : TIDEWATER

About

Tide Water Oil Co. Ltd. is a leading manufacturer and marketer of lubricants in over 65 countries around the globe. In India, it has been catering to both automotive and industrial segments since 1928 under the brand “Veedol''. ^[1]

Key Points

Product Portfolio
Automotive Lubricants: The Co. manufactures a wide range of automotive lubricants for 2-wheelers, passenger cars, commercial vehicles, OEM oils, gear and transmission oils, greases, etc. ^[1]
Industrial Lubricants: The Co. also manufactures industrial lubricants like Machinery Oil, Thermic Fluids, Spindle Oils, Turbine Oils, Heavy-duty Hydraulic Oils, etc. ^[2]
Specialities: The Co. is also engaged in the manufacture and sale of Speciality Vehicle Sanitization Products. ^[3]

Website BSE NSE

Market Cap ₹ 3,143 Cr.
Current Price ₹ 1,804
High / Low ₹ 1,835 / 852
Stock P/E 32.6
Book Value ₹ 405
Dividend Yield 2.33 %
ROCE 15.8 %
ROE 12.6 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.
Company is almost debt free.
Company has been maintaining a healthy dividend payout of 86.2%

Cons

The company has delivered a poor sales growth of 6.79% over past five years.
Earnings include an other income of Rs.47.8 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Chemicals Industry: Chemicals

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	315	301	215	324	348	361	349	363	391	389	383	381	404
	279	265	206	292	318	328	319	346	377	368	361	363	381
Operating Profit	36	36	9	31	30	33	30	17	14	20	22	18	23
OPM %	11%	12%	4%	10%	9%	9%	9%	5%	4%	5%	6%	5%	6%
	15	5	10	11	11	14	3	7	16	10	14	11	13
Interest	0	1	0	0	0	0	0	0	0	0	0	0	0
Depreciation	3	3	3	3	3	3	3	3	3	2	2	2	2
Profit before tax	48	38	16	39	38	44	30	21	28	27	33	26	33
Tax %	26%	28%	23%	23%	23%	20%	22%	21%	21%	16%	21%	20%	20%
	35	27	12	30	29	35	24	17	22	23	26	21	26
EPS in Rs	20.17	15.61	6.99	17.22	16.82	20.12	13.52	9.56	12.60	13.05	15.12	12.03	15.07
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	801	867	918	956	935	962	1,074	1,193	1,127	1,051	1,248	1,492	1,556
	715	774	816	868	794	830	949	1,072	1,007	926	1,145	1,411	1,474
Operating Profit	86	93	103	88	141	132	125	121	121	126	103	82	83
OPM %	11%	11%	11%	9%	15%	14%	12%	10%	11%	12%	8%	5%	5%
	11	10	10	163	-1	28	30	35	33	42	46	36	48
Interest	1	0	0	0	0	1	1	1	1	2	1	1	1
Depreciation	9	9	9	7	7	7	8	8	9	10	11	10	10
Profit before tax	86	94	104	243	133	151	147	147	143	156	136	106	120
Tax %	31%	33%	34%	30%	38%	32%	34%	34%	26%	25%	22%	20%
	59	63	68	171	83	103	97	97	106	117	107	85	96
EPS in Rs	34.35	36.59	39.73	99.51	47.53	58.82	55.39	55.27	60.42	67.11	61.17	48.72	55.27
Dividend Payout %	18%	21%	25%	17%	52%	50%	61%	83%	80%	87%	88%	84%

Compounded Sales Growth
10 Years:	6%
5 Years:	7%
3 Years:	10%
TTM:	6%

Compounded Profit Growth
10 Years:	3%
5 Years:	-3%
3 Years:	-7%
TTM:	-1%

Stock Price CAGR
10 Years:	15%
5 Years:	11%
3 Years:	24%
1 Year:	102%

Return on Equity
10 Years:	16%
5 Years:	15%
3 Years:	15%
Last Year:	13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	1	1	1	1	2	2	2	2	2	2	3	3	3
Reserves	308	338	386	516	599	627	654	645	671	702	668	681	702
	0	0	0	0	0	0	0	0	1	1	0	4	0
	156	164	190	192	208	211	211	206	198	229	230	250	231
Total Liabilities	464	502	577	709	809	839	867	853	872	934	902	939	936
	73	70	69	90	97	97	104	112	122	118	114	109	106
CWIP	2	1	1	0	2	0	3	1	2	1	1	2	4
Investments	52	54	57	121	115	212	214	214	215	215	215	215	215
	337	377	450	498	596	530	546	526	533	599	572	612	612
Total Assets	464	502	577	709	809	839	867	853	872	934	902	939	936

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	86	32	33	93	139	41	102	82	121	48	80	54
	-59	-4	-3	36	-7	16	-86	-6	-43	44	47	31
	-8	-13	-16	-32	-48	-56	-71	-105	-76	-84	-138	-68
Net Cash Flow	18	14	14	97	83	1	-55	-29	1	9	-12	18

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	38	54	59	57	57	58	47	45	34	38	40	36
Inventory Days	129	99	120	90	111	129	100	88	110	171	118	99
Days Payable	79	61	67	53	86	93	88	75	78	100	70	57
Cash Conversion Cycle	88	92	112	94	83	95	59	58	66	108	88	78
Working Capital Days	68	78	89	71	64	78	67	63	60	82	72	61
ROCE %	31%	29%	30%	21%	28%	25%	23%	23%	22%	23%	20%	16%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	57.28%	57.28%	57.28%	57.28%	57.28%	57.28%	57.28%	57.28%	57.28%	57.28%	62.27%	62.27%
	0.59%	0.68%	0.77%	0.83%	0.70%	0.73%	0.77%	0.82%	0.83%	0.97%	1.38%	1.51%
	10.89%	10.68%	9.46%	8.47%	7.99%	7.33%	6.00%	5.37%	2.10%	2.12%	1.27%	1.22%
	28.77%	28.90%	30.03%	30.96%	31.57%	32.20%	33.49%	34.06%	37.33%	37.18%	32.61%	32.53%
	2.46%	2.46%	2.46%	2.46%	2.46%	2.46%	2.46%	2.46%	2.46%	2.46%	2.46%	2.46%
No. of Shareholders	35,147	60,512	62,884	65,125	64,688	65,560	66,306	66,018	70,411	64,947	68,097	65,843

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	55.61%	57.27%	57.28%	57.28%	57.28%	57.28%	57.28%	62.27%
	0.37%	0.47%	0.59%	0.61%	0.59%	0.83%	0.82%	1.51%
	11.19%	11.28%	11.22%	11.21%	11.10%	8.47%	5.37%	1.22%
	30.37%	28.52%	28.45%	28.44%	28.56%	30.96%	34.06%	32.53%
	2.46%	2.46%	2.46%	2.46%	2.46%	2.46%	2.46%	2.46%
No. of Shareholders	19,270	20,663	21,466	21,791	23,234	65,125	66,018	65,843

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Tide Water Oil Co (I) Ltd

Tide Water Oil Co (I) Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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