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VEEDOL - Veedol Corporat

📊 NSE: VEEDOL 🏢 Chemicals 📅 Last Updated: 12/14/2025 15:00

📢 Recent Corporate Announcements

Veedol Corp Head of HR, Admin & CSR Dr. Manish Khodaskar Resigns Effective April 8, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 10 Mar 2026, 07:58 PM

Veedol Corporation Limited has announced the resignation of Dr. Manish Khodaskar, who held the position of Head of HR, Admin & CSR. Classified as Senior Management Personnel (SMP), his resignation will be effective from the close of business on April 8, 2026. The company has complied with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in making this disclosure. This change is administrative in nature and does not impact the core financial or operational leadership of the company.

Dr. Manish Khodaskar has resigned from his role as Head of HR, Admin & CSR.
The resignation is effective from the close of business on April 8, 2026.
The disclosure was made under Regulation 30 of the SEBI (LODR) Regulations, 2015.
Veedol Corporation was formerly known as Tide Water Oil Company (India) Ltd.

💡 No immediate action is required as this is a routine management change in a non-core business function. Investors should continue to focus on the company's quarterly earnings and market share in the lubricants sector.

Veedol Corp Seeks Shareholder Approval for Director Appointment; Voting Ends March 17, 2026

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 13 Feb 2026, 06:32 PM

Veedol Corporation Limited has initiated a postal ballot process to seek shareholder approval for the appointment of Shri Kulbhushan Malhotra as a Non-Executive and Non-Independent Director. The remote e-voting period is scheduled to run from February 16, 2026, to March 17, 2026. Eligibility for voting is determined by the cut-off date of February 6, 2026. This appointment follows his initial induction as an Additional Director by the Board effective February 3, 2026.

Proposed appointment of Shri Kulbhushan Malhotra (DIN: 11507259) as a Non-Executive and Non-Independent Director.
Remote e-voting period spans 30 days, starting February 16 and concluding March 17, 2026.
Shareholders appearing in the register as of the cut-off date, February 6, 2026, are eligible to vote.
The final voting results are expected to be announced on or before March 18, 2026.

💡 This is a routine management appointment and requires no immediate change in investment strategy. Shareholders should review the director's credentials in the postal ballot notice and cast their votes via the NSDL platform by March 17.

Veedol Units Observe One-Day Nationwide Strike; No Material Impact Expected

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 13 Feb 2026, 02:27 PM

Veedol Corporation Limited reported that certain units of the company observed a one-day strike on February 12, 2026. The strike was part of a nationwide general strike called by various political parties rather than internal labor disputes. The company has formally stated that it does not anticipate any material impact on its business operations or financial performance due to this event. This disclosure was made in compliance with SEBI (LODR) Regulation 30 requirements.

Certain company units participated in a one-day strike on February 12, 2026.
The disruption was caused by a nationwide general strike called by political parties.
Management expects no material impact on overall business operations.
The disclosure is a regulatory filing under SEBI (LODR) Regulations, 2015.

💡 No action is required as the event was a temporary, external disruption with no lasting impact on the company's fundamentals. Investors should continue to focus on the company's quarterly performance and market share in the lubricants sector.

Veedol Corp Declares ₹14 Per Share Interim Dividend; Issues TDS Guidelines

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 05 Feb 2026, 05:28 PM

Veedol Corporation Limited has announced a second interim dividend of ₹14 per equity share for the financial year 2025-26. The record date to determine eligible shareholders is fixed for February 6, 2026. The company has provided detailed instructions regarding Tax Deduction at Source (TDS), which ranges from 10% to 20% for resident shareholders depending on PAN status. Shareholders seeking tax exemptions or lower treaty rates must submit necessary documentation by February 11, 2026.

Second interim dividend declared at ₹14 per equity share of face value ₹2 each
Record date for dividend entitlement is set as Friday, February 6, 2026
Standard TDS of 10% for resident shareholders with valid PAN; 20% for those without
Exemption from TDS for resident individuals if total annual dividend is below ₹10,000
Deadline for submitting tax-related documents (Form 15G/15H/DTAA) is February 11, 2026

💡 Investors should ensure their PAN and bank account details are updated with their Depository Participant to receive the dividend. Those eligible for lower tax rates should submit the required forms by the February 11 deadline to avoid higher tax deductions.

Veedol Corp Receives 'CARE AA; Stable' Rating for ₹99 Crore Bank Facilities

🟢 POSITIVE ⭐ 6/10

REGULATORY 📅 05 Feb 2026, 01:23 PM

CARE Ratings has assigned a high-grade 'CARE AA; Stable' rating to Veedol Corporation's long-term bank facilities worth ₹12 crore. Additionally, the agency assigned a dual rating of 'CARE AA; Stable / CARE A1+' for long-term and short-term facilities totaling ₹87 crore. The total rated bank facilities amount to ₹99 crore, reflecting a very strong credit profile and a stable outlook for the company. These ratings indicate a high degree of safety regarding timely servicing of financial obligations and very low credit risk.

CARE Ratings assigned 'CARE AA; Stable' for ₹12.00 crore long-term bank facilities.
Assigned 'CARE AA; Stable / CARE A1+' for ₹87.00 crore long-term and short-term facilities.
Total bank facilities covered under this rating exercise amount to ₹99.00 crore.
The ratings are valid for one year from the initial communication date of January 02, 2026.
Facilities include fund-based limits from HDFC Bank and Union Bank, and non-fund based limits from Citi, HSBC, and Standard Chartered.

💡 The high credit rating (AA/A1+) confirms the company's strong financial health and low default risk, which supports a positive long-term outlook. Investors should view this as a validation of the company's balance sheet strength and liquidity.

Veedol Corp Q3 Profit Rises to ₹43.55 Cr; Declares 700% Interim Dividend (₹14/Share)

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 02 Feb 2026, 09:53 PM

Veedol Corporation Limited reported a strong performance for Q3 FY26 with consolidated net profit rising to ₹43.55 crore from ₹37.34 crore YoY. Revenue from operations grew by 11.5% to ₹537.73 crore, driven by steady demand in the lubricants segment. The company rewarded shareholders by declaring a second interim dividend of 700% (₹14 per share) with a record date of February 6, 2026. Additionally, the board approved the appointment of Shri Kulbhushan Malhotra as an Additional Director.

Consolidated Net Profit grew 16.6% YoY to ₹43.55 crore in Q3 FY26.
Consolidated Revenue from Operations increased to ₹537.73 crore vs ₹482.42 crore YoY.
Declared a massive 700% second interim dividend amounting to ₹14 per equity share.
Standalone Basic EPS increased significantly to ₹25.68 from ₹19.78 in the previous year's quarter.
Shri Kulbhushan Malhotra appointed as Additional Director (Non-Executive & Non-Independent).

💡 The stock remains attractive for dividend-seeking investors following the ₹14/share payout. Monitor the stock's performance leading up to the February 6 record date for the dividend.

Veedol Corp Q3 PAT Jumps 65% QoQ to ₹43.6 Cr; Declares ₹14/Share Interim Dividend

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 02 Feb 2026, 09:49 PM

Veedol Corporation Limited (formerly Tide Water Oil) reported a strong sequential performance for the quarter ended December 31, 2025, with standalone PAT rising 65.4% QoQ to ₹43.64 crore. The Board has declared a substantial second interim dividend of 700%, which translates to ₹14 per equity share of face value ₹2. Consolidated revenue grew to ₹537.73 crore, reflecting steady growth in the lubricants segment. Additionally, the company has fixed February 6, 2026, as the record date for the dividend payment.

Standalone PAT increased 65.4% QoQ to ₹43.64 crore from ₹26.39 crore in the previous quarter.
Declared a second interim dividend of ₹14 per share (700% of face value) for FY 2025-26.
Consolidated revenue from operations rose to ₹537.73 crore, a 5.6% growth over the previous quarter.
Standalone EPS improved significantly to ₹25.68 for the quarter compared to ₹15.52 in Q2 FY26.
Record date for the interim dividend is set for February 6, 2026, with payment within 30 days.

💡 Investors should track the stock for the upcoming dividend record date of February 6 to be eligible for the ₹14 per share payout. The strong sequential recovery in profitability suggests improving operational efficiency.

Veedol Corp Q3 Profit Grows 16.6% YoY to ₹43.55 Cr; Declares ₹14 Interim Dividend

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 02 Feb 2026, 09:47 PM

Veedol Corporation Limited (formerly Tide Water Oil) reported a consolidated net profit of ₹43.55 crore for the quarter ended December 31, 2025, a 16.6% increase from ₹37.34 crore in the year-ago period. Revenue from operations rose 11.5% YoY to ₹537.73 crore, reflecting steady demand in the lubricants segment. The Board declared a second interim dividend of ₹14 per share (700% of face value), with the record date set for February 6, 2026. Standalone performance was also robust, with profit after tax reaching ₹43.64 crore for the quarter.

Consolidated Revenue from Operations grew to ₹537.73 crore in Q3 FY26 from ₹482.42 crore in Q3 FY25.
Consolidated Net Profit increased to ₹43.55 crore, while Standalone Net Profit rose to ₹43.64 crore.
Declared a second interim dividend of ₹14 per share on a face value of ₹2 (700%).
Consolidated EPS for the quarter improved to ₹25.63 from ₹21.97 YoY.
Record date for dividend eligibility is February 6, 2026, with payment within 30 days.

💡 The company's strong earnings growth and high dividend payout make it an attractive hold for long-term investors. Monitor the upcoming record date of February 6 to qualify for the ₹14 per share dividend.

Veedol Declares Rs 14 Interim Dividend; Q3 Consolidated Net Profit Grows 16.6% YoY

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 02 Feb 2026, 09:41 PM

Veedol Corporation has declared a second interim dividend of Rs. 14 per share (700% of face value) for FY 2025-26, with a record date of February 6, 2026. The company reported a solid Q3 FY26 performance with consolidated revenue rising 11.5% YoY to Rs. 537.73 crore. Consolidated net profit increased by 16.6% YoY to Rs. 43.55 crore, while standalone net profit saw a significant jump of 29.8% YoY to Rs. 43.64 crore. The board also strengthened its leadership by appointing Kulbhushan Malhotra as an Additional Director.

Declared 2nd interim dividend of Rs. 14 per equity share (700% on FV of Rs. 2)
Consolidated Revenue from Operations grew 11.5% YoY to Rs. 537.73 crore
Consolidated Net Profit increased to Rs. 43.55 crore from Rs. 37.34 crore YoY
Standalone Earnings Per Share (EPS) rose to Rs. 25.68 from Rs. 19.78 in the previous year's quarter
Record date for dividend eligibility is set for February 6, 2026

💡 Investors seeking regular income should note the record date of February 6 to qualify for the Rs. 14 dividend. The strong growth in both standalone and consolidated profits suggests healthy operational efficiency, supporting a positive outlook for the stock.

Veedol Corp Appoints Hawsons Chartered Accountants as Auditor for UK Subsidiaries

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 29 Jan 2026, 02:27 PM

Veedol Corporation Limited has appointed M/s. Hawsons Chartered Accountants as the Statutory Auditor for its material subsidiary, Veedol UK Limited, and other UK-based entities. This appointment, effective January 28, 2026, fills the casual vacancy created by the resignation of M/s. SHORTS in December 2025. The new auditor will handle the financial reporting starting from the 2025-26 financial year. This transition ensures that the company's international operations remain compliant with statutory audit requirements.

Appointment of M/s. Hawsons Chartered Accountants effective from January 28, 2026
Covers material subsidiary Veedol UK Limited and step-down subsidiary Granville Oil & Chemicals Limited
Fills casual vacancy following the resignation of M/s. SHORTS on December 6, 2025
New auditor M/s. Hawsons has over 170 years of history in accounting and tax services

💡 No immediate action is required as this is a routine regulatory compliance matter. Investors should monitor for timely financial disclosures from the UK subsidiaries under the new auditor.

Veedol Corporation Announces Resignation of Non-Executive Director Brajesh Kumar Srivastava

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 16 Jan 2026, 04:02 PM

Veedol Corporation Limited (formerly Tide Water Oil Company (India) Ltd.) has announced the resignation of Shri Brajesh Kumar Srivastava from his position as a Non-Executive and Non-Independent Director. The resignation is effective from the close of business on January 16, 2026. This disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's Board of Directors will formally note the resignation in their upcoming meeting.

Shri Brajesh Kumar Srivastava (DIN: 09835338) has resigned as a Non-Executive and Non-Independent Director.
The resignation is effective from the close of business on January 16, 2026.
The notification was filed under Regulation 30 of SEBI (LODR) Regulations, 2015.
The Board of Directors will record the resignation in the next scheduled board meeting.

💡 This is a routine management change and does not impact the company's fundamentals. No immediate action is required from investors.

Veedol Corp Completes Closure of German Subsidiary; Nil Impact on Operations

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 15 Jan 2026, 04:56 PM

Veedol Corporation Limited has officially completed the liquidation and closure of its wholly owned subsidiary, Veedol Deutschland GmbH, Germany. The closure was finalized following its entry into the German commercial register, concluding a process that began in May 2024. Financial disclosures reveal that the subsidiary contributed nil revenue and net worth to the company during the last financial year. Management has explicitly stated that this closure will have no impact on the overall business operations of the company.

Official closure of wholly owned subsidiary Veedol Deutschland GmbH in Germany.
Subsidiary contributed 0% (Nil) to the company's turnover and net worth in the last financial year.
Liquidation process is now officially recorded in the German commercial register.
Management confirms the closure will not impact ongoing business operations.

💡 Investors should view this as a routine administrative cleanup of a non-contributing entity. No change in investment thesis is required based on this update.

Veedol Corporation Reports Nil Dematerialization Requests for Q3 FY2025-26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Jan 2026, 01:11 PM

Veedol Corporation Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. For the quarter ended December 31, 2025, the company's Registrar and Share Transfer Agent (RTA), Maheshwari Datamatics Pvt. Ltd., confirmed that no dematerialization requests were received. As a result, no equity shares were processed for conversion from physical to electronic form during the period from October 1, 2025, to December 31, 2025. This is a standard regulatory filing and does not impact the company's financial or operational standing.

Compliance certificate filed for the quarter ended December 31, 2025.
Zero dematerialization requests received by the RTA during the three-month period.
Reporting period spans from October 1, 2025, to December 31, 2025.
Confirmation provided by Registrar and Share Transfer Agent, Maheshwari Datamatics Pvt. Ltd.

💡 No action is required as this is a routine administrative filing. Investors should continue to monitor the company's upcoming quarterly financial performance.

Veedol Corp to Close Trading Window from Jan 1, 2026 Ahead of Q3 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 23 Dec 2025, 04:11 PM

Veedol Corporation Limited has announced the closure of its trading window effective from January 1, 2026. This restriction is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the upcoming unaudited financial results for the quarter and nine months ending December 31, 2025. The trading window will remain closed for all designated persons and their relatives until 48 hours after the results are declared. This is a standard regulatory procedure followed by listed companies before financial disclosures.

Trading window closure begins on January 1, 2026.
Closure pertains to the financial results for the quarter and nine months ending December 31, 2025.
Trading window will reopen 48 hours after the official announcement of financial results.
PAN freezing at the security level through NSDL will be implemented for all Designated Persons.
The notification follows SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 No immediate action is required as this is a routine regulatory filing. Investors should monitor the company's upcoming announcement regarding the specific date for the Q3 financial results.

Veedol Receives ISO 31000:2018 Onsite Assessment Certificate

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 11 Dec 2025, 05:51 PM

Veedol Corporation Limited has received ISO 31000:2018 Onsite Assessment Certificate on December 11, 2025. The assessment, conducted by Bureau Veritas India Pvt. Ltd., covers enterprise risk management for various processes including corporate governance, financial management, manufacturing, IT, sales, HR, and R&D for lubricants. The attestation is valid until December 9, 2028, subject to continued compliance. This certification indicates adherence to risk management guidelines.

Received ISO 31000:2018 Onsite Assessment Certificate
Assessment valid until 09 December 2028
Assessment covers Enterprise Risk Management for multiple processes

💡 This certification reflects Veedol's commitment to risk management. Investors can view this as a positive sign of the company's operational diligence, but no immediate action is required.

View All VEEDOL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single reportable segment, Lubricants. Standalone revenue from operations for FY25 was INR 1,527.28 Cr, representing a 1.88% decrease from INR 1,556.54 Cr in FY24. Consolidated revenue for FY25 was INR 1,970.49 Cr, a 1.96% increase from INR 1,932.61 Cr in FY24.

Geographic Revenue Split

India (Standalone) accounts for approximately 77.5% of consolidated revenue at INR 1,527.28 Cr. International operations and JVs, including Veedol UK and Veedol International DMCC (Middle East), contribute the remaining 22.5% (INR 443.21 Cr).

Profitability Margins

Standalone Net Profit Margin improved by 14.95% to 8.18% in FY25, up from 7.11% in FY24. However, the Operating Profit Margin declined by 15.42% to 4.50% from 5.33% in the previous year due to product mix shifts and cost pressures.

EBITDA Margin

Standalone EBITDA (Profit before Depreciation, Interest, and Tax) was INR 166.36 Cr (10.89% margin) in FY25, up 12.2% from INR 148.25 Cr. Consolidated EBITDA reached INR 240.24 Cr (12.19% margin), a 17.65% increase from INR 204.19 Cr in FY24.

Capital Expenditure

Historical capital expenditure is reflected in the acquisition of Right-of-Use assets, which amounted to INR 2.29 Cr in H1 FY26 compared to INR 29.13 Cr in H1 FY25. Planned CAPEX for capacity expansion is not explicitly disclosed in absolute INR Cr.

Credit Rating & Borrowing

The company held ratings of CARE AA; Stable (Long-term) and CARE A1+ (Short-term) as of October 31, 2024. These ratings were reaffirmed and subsequently withdrawn at the company's request. Borrowing costs are low, with standalone finance costs at INR 3.46 Cr in FY25.

⚙️ Operational Drivers

Raw Materials

Base oil is the primary raw material, representing the largest portion of the cost of goods sold. Its price is directly linked to global crude oil price fluctuations.

Import Sources

Sourced through a globally integrated supply chain, with significant procurement linked to Middle Eastern and international oil markets to support subsidiaries in the UK, UAE, and India.

Key Suppliers

Not explicitly named in the documents, but typically involves major Public Sector Undertakings (PSUs) and global petrochemical entities.

Capacity Expansion

Current capacity is not disclosed in MT; however, the company is re-organizing European operations to consolidate the supply chain, including the dissolution of Veedol Deutschland GmbH to streamline production through Veedol UK.

Raw Material Costs

Raw material costs are highly volatile due to crude oil linkage; the company noted that intense competition restricts its ability to immediately pass on these cost increases, impacting the operating margin which fell 15.42% YoY.

Manufacturing Efficiency

Focus has shifted toward improving the product mix; while standalone turnover dipped 1.88%, the focus on premium synthetic lubricants led to a 16.8% increase in standalone PAT to INR 127.25 Cr.

📈 Strategic Growth

Growth Strategy

Growth will be achieved through international expansion via distributors and franchise partners, a strategic shift toward high-performance synthetic lubricants, and the consolidation of European supply chains to improve operational efficiency.

Products & Services

Engine oils for passenger cars, two and three-wheelers, heavy commercial vehicles, buses, tractors, and off-highway vehicles; industrial lubricants; Genuine Oil; and vehicle care products for brakes and air intake systems.

Brand Portfolio

Veedol.

New Products/Services

Next-generation synthetic lubricants and bio-lubricants designed to meet stricter emission norms and improve fuel efficiency.

Market Expansion

Expansion of the international distributor network and the incorporation of Veedol Ireland Limited (June 2024) to strengthen the European footprint.

Market Share & Ranking

Recognized as a leading manufacturer in India; specific market share percentage not disclosed.

Strategic Alliances

50% Joint Venture with Eneos (Eneos Tide Water Lubricants India Private Limited), which achieved a turnover of INR 298.82 Cr (+19.8% YoY) and a PBT of INR 76.05 Cr (+93.7% YoY) in FY25.

🌍 External Factors

Industry Trends

The industry is shifting toward premiumization and synthetic lubricants (viscosity-driven) due to stricter global emission norms and the need for improved fuel efficiency.

Competitive Landscape

Intense competition from large Public Sector Undertakings (PSUs) and established private sector lubricant companies.

Competitive Moat

The Veedol brand (established 1921) has a rich legacy and strong brand equity, which acts as a durable advantage in a commoditized market. This is sustained through a robust distribution network and franchise partners.

Macro Economic Sensitivity

Highly sensitive to industrial modernization and GDP growth, which drives the demand for industrial lubricants and heavy commercial vehicle engine oils.

Consumer Behavior

Shift toward high-performance synthetic lubricants as consumers seek better engine durability and compliance with modern vehicle standards.

Geopolitical Risks

Global supply chain integration exposes the company to trade barriers and geopolitical tensions affecting crude oil and base oil pricing.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by stricter emission norms and environmental standards for lubricant formulations; the company maintains ISO 31000:2018 certification for Risk Management.

Environmental Compliance

Focus on eco-friendly lubricants and bio-lubricants to comply with stricter environmental regulations and reduce environmental impact.

Taxation Policy Impact

Standalone tax expense for FY25 was INR 9.49 Cr, a significant decrease from INR 26.59 Cr in FY24.

Legal Contingencies

An exceptional item of INR 6.56 Cr was charged in FY25 for stock destroyed by fire. No frauds were reported by auditors under Section 143(12) of the Companies Act.

⚠️ Risk Analysis

Key Uncertainties

Volatility in base oil prices (linked to crude) and the potential inability to pass on costs in a competitive market are the primary risks, potentially impacting operating margins by over 15%.

Geographic Concentration Risk

77.5% of revenue is concentrated in the Indian market (Standalone operations).

Third Party Dependencies

High dependency on global base oil suppliers and third-party distributors for international market expansion.

Technology Obsolescence Risk

The shift toward Electric Vehicles (EVs) poses a long-term risk to traditional engine oil demand, which the company is addressing through advanced synthetic and next-gen products.