Veedol Corporation
- Market cap
- ₹ 2,212 Cr.
- P/E
- 10.4x
- P/B
- 2.14x
- 52-week range
- 1,238.2 – 1,844.8
- ROE
- 19%
- ROCE
- 24%
- Dividend yield
- 4.5%
- Debt / equity
- 0.02
- Sector
- Petroleum Products
- Industry
- Lubricants
- Listed on
- NSE, BSE
About
Veedol Corporation Limited, formerly Tide Water Oil Co. (India) Ltd., owner of the brand Veedol, is a manufacturer and marketer of lubricants in over 70 countries around the globe. The Veedol range of products includes high-performance engine oils for passenger cars, two/three-wheelers, heavy commercial vehicles, off-highway vehicles, buses and tractors. It also has gear oils, transmission oils, coolants, brake oil and greases for all automotive applications as well as a wide range of industrial and specialty lubricants catering to diverse industry applications. Its automotive lubricants include two-wheeler oils, passenger car motor oils, commercial vehicle oils, tractor oils, off-highway oils, greases, gear and transmission oils, and others. Its industrial lubricants include hydraulic oils, thermic fluids, spindle oils, turbine oils, compressor oils, steam cylinder oils, and industrial gear oils. Its vehicle care products include rust penetrants, additives range, and others.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Lubricants: 10 companies →Veedol Corporation against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)10.4 against a typical 10.5: cheaper than most peers (1st = cheapest).5th of 10
- Sales growth+18.5% against a typical +42.2% from a year earlier.8th of 8
- Profit growth+56% against a typical +158.3% from a year earlier.6th of 8
- Share price, 3 months−6.2% against a typical +3.6%.9th of 10
- Size₹ 2,212.3 Cr. market value against a typical ₹ 2,460.9 Cr. (1st = largest).6th of 10
Latest announcements
Exchange filings and their impact on the company.
- Veedol's Aftermarket sales VP resigned effective Dec 2026 with long notice, implying orderly handover and minimal near-term impact.
Veedol Corporation said Mr. Murli Vasudevan, Vice President - Sales (After Market), has resigned effective close of business on 24 December 2026. The announcement on 6 October 2026 provides about two-and-a-half months for handover and gives no reason or replacement update. For a lubricants maker with TTM sales of about Rs 2,263 crore, this single sales-leadership change is unlikely to move near-term results beyond minor transition disruption.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
High safety
Rated AA by CARE- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CARE | CARE AA; / CARE A1+ | Stable | 4 Feb 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 4 Feb 2026 | New rating | CARE AA | — | CARE | ₹ 99 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 5 Nov 2026Upcoming | Financial Results/Dividend | Board Meeting Intimation for Consideration and Approval of the Un-audited Standalone and Consolidated Financial Results for the Second Quarter and Half Year ended on 30th September, 2026 and Proposal for declaration of Interim Dividend, if any for the financial year 2026-27 |
| 10 Aug 2026 | Financial Results | Notice for consideration of Unaudited Financial Results for the quarter ended 30th June, 2026 |
| 20 May 2026 | Financial Results/Dividend | To consider and approve the Financial Results for the quarter and year ended 31st March, 2026 and recommendation of final dividend for the financial year 2025-26 and book closure for the purpose. |
| 2 Feb 2026 | Financial Results/Dividend | To consider and approve the financial results for the period ended December 31, 2025 and payment of second interim dividend for the financial year 2025-26. |
| 10 Nov 2025 | Financial Results/Dividend | To consider and approve the financial results for the quarter & half year ended September 30, 2025 and 1st Interim Dividend for FY 2025-26 |
| 13 Aug 2025 | Financial Results | Board Meeting intimation for consideration of Unaudited Financial Results for the quarter ended 30th June, 2025 |
| 28 May 2025 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2025 and dividend |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 474 | 496 | 487 | 479 | 476 | 482 | 532 | 514 | 509 | 538 | 607 | 609 |
| Expenses | 433 | 455 | 439 | 437 | 430 | 444 | 464 | 455 | 456 | 486 | 544 | 510 |
| Operating Profit | 42 | 42 | 48 | 41 | 46 | 38 | 68 | 59 | 53 | 52 | 63 | 98 |
| OPM % | 9% | 8% | 10% | 9% | 10% | 8% | 13% | 11% | 10% | 10% | 10% | 16% |
| Other Income | 8 | 8 | 12 | 14 | 9 | 7 | 10 | 13 | 11 | 13 | 12 | 12 |
| Interest | 0 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 0 |
| Depreciation | 4 | 4 | 4 | 5 | 8 | 7 | 8 | 8 | 8 | 9 | 10 | 8 |
| Profit before tax | 45 | 45 | 55 | 50 | 46 | 37 | 69 | 64 | 55 | 56 | 64 | 102 |
| Tax % | 22% | 25% | 23% | 26% | 25% | −1% | 13% | 22% | 26% | 22% | 10% | 23% |
| Net Profit | 35 | 34 | 43 | 37 | 35 | 37 | 60 | 50 | 41 | 44 | 57 | 78 |
| EPS in Rs | 20.21 | 19.27 | 24.63 | 21.3 | 19.86 | 21.43 | 34.26 | 28.51 | 23.5 | 24.99 | 32.98 | 44.72 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 8%
- 5 Years
- 12%
- 3 Years
- 5%
- TTM
- 13%
- 10 Years
- 8%
- 5 Years
- 6%
- 3 Years
- 18%
- TTM
- 17%
- 10 Years
- 4%
- 5 Years
- −5%
- 3 Years
- 8%
- TTM
- —
- 10 Years
- 18%
- 5 Years
- 18%
- 3 Years
- 19%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Veedol Corporation | ₹ 1,300.00 | ₹ 2,212 Cr. | 10.4x | 2.1x | 19% | — |
| Reliance Industries | ₹ 1,190.00 | ₹ 16,10,372 Cr. | 22.2x | 2x | — | 7.7% |
| Oil and Natural Gas Corporation | ₹ 226.00 | ₹ 2,84,314 Cr. | 7.5x | 0.8x | 11.6% | 7.5% |
| Oil India | ₹ 446.10 | ₹ 72,563 Cr. | 10.7x | 1.2x | 12.3% | 20.4% |
| Petronet LNG | ₹ 285.95 | ₹ 44,250 Cr. | 10.5x | 1.8x | 18.6% | 9% |
| Castrol India | ₹ 194.80 | ₹ 19,268 Cr. | 18.9x | 9.6x | — | 16.4% |
Management
- Upendra Gadre
- Group Chief Financial Officer
- Arijit Basu
- Managing Director, Executive Director
- Rajendra Nath Ghosal
- Managing Director, Additional Director
- Abhijit Satish Tikekar
- Company Secretary, Head - Legal
Prices are delayed and for information only. Nothing on this page is investment advice.