Veedol Corporation Ltd

₹ 1,656 -1.46%

16 Jun 4:01 p.m.

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 ₹ 2,887 Cr.
Current Price ₹ 1,656
High / Low ₹ 2,800 / 1,275
Stock P/E 22.0
Book Value ₹ 430
Dividend Yield 3.26 %
ROCE 19.5 %
ROE 17.9 %
Face Value ₹ 2.00

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Pros

Company is almost debt free.
Stock is providing a good dividend yield of 3.23%.
Company has been maintaining a healthy dividend payout of 79.2%

Cons

The company has delivered a poor sales growth of 6.26% over past five years.
Tax rate seems low
Earnings include an other income of Rs.69.0 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

Energy Oil, Gas & Consumable Fuels Petroleum Products Lubricants

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	361	349	363	391	389	383	381	404	388	378	364	386	398
	328	319	346	377	368	361	363	381	359	360	345	368	363
Operating Profit	33	30	17	14	20	22	18	23	29	18	19	18	34
OPM %	9%	9%	5%	4%	5%	6%	5%	6%	8%	5%	5%	5%	9%
	14	3	7	16	10	14	11	13	18	20	14	16	20
Interest	0	0	0	0	0	0	0	0	0	1	1	1	1
Depreciation	3	3	3	3	2	2	2	2	2	4	7	6	6
Profit before tax	44	30	21	28	27	33	26	33	45	34	25	28	47
Tax %	20%	22%	21%	21%	16%	21%	20%	20%	17%	21%	22%	-18%	5%
	35	24	17	22	23	26	21	26	37	27	20	34	45
EPS in Rs	20.12	13.52	9.56	12.60	13.05	15.12	12.03	15.07	21.33	15.37	11.19	19.30	25.81
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	918	956	935	962	1,074	1,193	1,127	1,051	1,248	1,492	1,555	1,527
	816	868	794	830	949	1,072	1,007	926	1,145	1,411	1,464	1,437
Operating Profit	103	88	141	132	125	121	121	126	103	82	91	91
OPM %	11%	9%	15%	14%	12%	10%	11%	12%	8%	5%	6%	6%
	10	163	-1	28	30	35	33	42	46	36	57	69
Interest	0	0	0	1	1	1	1	2	1	1	1	3
Depreciation	9	7	7	7	8	8	9	10	11	10	10	22
Profit before tax	104	243	133	151	147	147	143	156	136	106	137	134
Tax %	34%	30%	38%	32%	34%	34%	26%	25%	22%	20%	19%	7%
	68	171	83	103	97	97	106	117	107	85	111	125
EPS in Rs	39.73	99.51	47.53	58.82	55.39	55.27	60.42	67.11	61.17	48.72	63.54	71.67
Dividend Payout %	25%	17%	52%	50%	61%	83%	80%	87%	88%	84%	80%	74%

Compounded Sales Growth
10 Years:	5%
5 Years:	6%
3 Years:	7%
TTM:	-2%

Compounded Profit Growth
10 Years:	7%
5 Years:	4%
3 Years:	7%
TTM:	18%

Stock Price CAGR
10 Years:	8%
5 Years:	17%
3 Years:	19%
1 Year:	-12%

Return on Equity
10 Years:	16%
5 Years:	16%
3 Years:	16%
Last Year:	18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.85	0.85	2	2	2	2	2	2	3	3	3	3
Reserves	386	516	599	627	654	645	671	702	668	681	709	746
	0	0	0	0	0	0	1	1	0	4	0	21
	190	192	208	211	211	206	198	229	230	250	249	231
Total Liabilities	577	709	809	839	867	853	872	934	902	939	962	1,002
	69	90	97	97	104	112	122	118	114	109	107	141
CWIP	1	0	2	0	3	1	2	1	1	2	7	2
Investments	57	121	115	212	214	214	215	215	215	215	215	215
	450	498	596	530	546	526	533	599	572	612	632	644
Total Assets	577	709	809	839	867	853	872	934	902	939	962	1,002

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	33	93	139	41	102	82	121	48	80	54	94	-35
	-3	36	-7	16	-86	-6	-43	44	47	31	-36	129
	-16	-32	-48	-56	-71	-105	-76	-84	-138	-68	-85	-98
Net Cash Flow	14	97	83	1	-55	-29	1	9	-12	18	-27	-4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	59	57	57	58	47	45	34	38	40	36	34	45
Inventory Days	120	90	111	129	100	88	110	171	118	99	90	113
Days Payable	67	53	86	93	88	75	78	100	70	57	57	40
Cash Conversion Cycle	112	94	83	95	59	58	66	108	88	78	67	118
Working Capital Days	89	71	64	78	67	63	60	82	72	61	95	103
ROCE %	30%	21%	28%	25%	23%	23%	22%	23%	20%	16%	20%	19%

Shareholding Pattern

Numbers in percentages

1 Recently

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	57.28%	57.28%	57.28%	57.28%	57.28%	57.28%	62.27%	62.27%	64.15%	64.29%	64.29%	64.29%
	0.70%	0.73%	0.77%	0.82%	0.83%	0.97%	1.38%	1.51%	1.98%	1.71%	1.46%	1.26%
	7.99%	7.33%	6.00%	5.37%	2.10%	2.12%	1.27%	1.22%	1.23%	1.24%	1.28%	1.17%
	31.57%	32.20%	33.49%	34.06%	37.33%	37.18%	32.61%	32.53%	30.17%	30.30%	30.51%	30.82%
	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	64,688	65,560	66,306	66,018	70,411	64,947	68,097	65,843	62,488	60,070	59,365	58,514

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	55.61%	57.27%	57.28%	57.28%	57.28%	57.28%	57.28%	62.27%	64.29%
	0.37%	0.47%	0.59%	0.61%	0.59%	0.83%	0.82%	1.51%	1.26%
	11.19%	11.28%	11.22%	11.21%	11.10%	8.47%	5.37%	1.22%	1.17%
	30.37%	28.52%	28.45%	28.44%	28.56%	30.96%	34.06%	32.53%	30.82%
	2.46%	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	58,514

* 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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Veedol Corporation Ltd

Veedol Corporation Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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