Tide Water Oil Co (I) Ltd

₹ 1,585 -0.07%

19 Apr - close price

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]

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Market Cap ₹ 2,759 Cr.
Current Price ₹ 1,585
High / Low ₹ 1,835 / 832
Stock P/E 20.5
Book Value ₹ 461
Dividend Yield 2.65 %
ROCE 19.8 %
ROE 15.4 %
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 70.2%

Cons

The company has delivered a poor sales growth of 7.78% over past five years.

* 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

Consolidated Figures in Rs. Crores / View Standalone

	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
	364	365	285	394	412	445	439	448	497	470	474	474	496
	308	322	258	356	376	399	399	420	463	429	435	433	455
Operating Profit	56	43	27	38	36	45	40	28	34	41	39	42	42
OPM %	15%	12%	10%	10%	9%	10%	9%	6%	7%	9%	8%	9%	8%
	9	10	5	8	8	8	6	4	6	6	8	8	8
Interest	0	1	0	0	0	0	0	0	0	0	0	0	1
Depreciation	4	4	4	4	4	4	4	4	4	4	4	4	4
Profit before tax	61	49	28	43	40	49	42	28	35	43	42	45	45
Tax %	22%	25%	18%	25%	25%	23%	19%	26%	26%	19%	26%	22%	25%
	48	37	23	32	30	38	34	20	26	34	31	35	34
EPS in Rs	27.25	20.95	13.08	18.37	17.35	21.69	19.35	11.73	14.89	19.74	17.90	20.21	19.26
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	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	903	973	1,037	974	1,130	1,275	1,377	1,317	1,258	1,536	1,854	1,914
	716	810	880	956	860	994	1,136	1,246	1,178	1,094	1,388	1,712	1,752
Operating Profit	85	93	93	81	113	136	139	131	138	164	147	142	163
OPM %	11%	10%	10%	8%	12%	12%	11%	9%	10%	13%	10%	8%	8%
	10	10	17	163	24	35	32	32	38	38	30	22	29
Interest	1	0	0	1	1	3	3	2	2	2	2	1	2
Depreciation	9	9	9	11	7	9	9	10	12	14	15	16	15
Profit before tax	85	94	100	232	129	159	159	149	161	185	160	147	174
Tax %	32%	33%	35%	32%	39%	32%	33%	35%	24%	24%	23%	22%
	58	63	65	159	86	108	107	97	122	141	123	114	134
EPS in Rs	33.67	36.58	37.67	92.18	49.39	61.87	61.05	55.41	69.75	80.76	70.54	65.71	77.11
Dividend Payout %	18%	21%	27%	19%	50%	47%	56%	82%	70%	72%	76%	62%

Compounded Sales Growth
10 Years:	7%
5 Years:	8%
3 Years:	12%
TTM:	5%

Compounded Profit Growth
10 Years:	6%
5 Years:	1%
3 Years:	-2%
TTM:	14%

Stock Price CAGR
10 Years:	14%
5 Years:	9%
3 Years:	22%
1 Year:	87%

Return on Equity
10 Years:	17%
5 Years:	17%
3 Years:	17%
Last Year:	15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	306	337	381	499	585	611	649	638	679	735	716	760	800
	2	5	9	21	28	29	42	39	38	18	14	5	0
	156	172	213	217	231	255	256	249	248	286	302	330	305
Total Liabilities	465	515	604	738	846	897	949	928	967	1,040	1,036	1,098	1,108
	125	122	122	194	148	231	242	249	263	277	270	271	265
CWIP	2	1	1	0	2	0	3	2	12	4	3	2	4
Investments	1	1	0	0	68	65	70	69	76	74	70	70	74
	338	392	481	544	628	600	634	608	616	686	692	756	766
Total Assets	465	515	604	738	846	897	949	928	967	1,040	1,036	1,098	1,108

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	85	26	30	80	127	35	94	79	133	69	93	103
	-59	-2	-2	45	-7	24	-86	-1	-49	39	37	6
	-7	-10	-12	-20	-36	-56	-58	-110	-80	-102	-142	-81
Net Cash Flow	18	14	16	105	83	2	-49	-31	4	6	-11	28

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	58	66	63	62	65	54	52	42	47	50	47
Inventory Days	111	95	112	84	105	115	93	85	102	150	109	90
Days Payable	68	63	73	60	89	96	90	80	87	107	79	64
Cash Conversion Cycle	81	89	105	87	78	84	57	56	56	90	80	73
Working Capital Days	68	77	86	70	42	74	66	63	58	77	69	60
ROCE %		29%	28%	18%	23%	26%	24%	22%	23%	26%	22%	20%

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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