Andrew Yule & Company Limited has confirmed that it has not encumbered its shareholding in Veedol Corporation Ltd during the financial year ended March 31, 2026. The disclosure, submitted to the National Stock Exchange of India Ltd, ensures compliance with regulatory requirements regarding substantial acquisition of shares and takeovers.

The declaration was made pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended. The company stated that neither it nor persons acting in concert have encumbered the shares, whether directly or indirectly, in the specified period.

Veedol Corporation Ltd, formerly known as Tide Water Oil Co. (India) Ltd., is the target company mentioned in the regulatory filing. The confirmation was signed by Sucharita Das, Company Secretary of Andrew Yule & Company Limited, on April 6, 2026.

The filing provides transparency to the market regarding the status of the shareholding held by the Government of India enterprise. The disclosure is part of the standard procedural requirements for entities holding significant stakes in listed companies.

Veedol Corporation has fixed July 17, 2026, as the record date to determine shareholder eligibility for the final dividend for the financial year 2025-26. The board has recommended a dividend of 1100%, or ₹22 per share, subject to shareholder approval at the Annual General Meeting (AGM). The payout will entail a total outflow of ₹38.33 crore and will be distributed within 30 days of the AGM. Additionally, the Register of Members and Share Transfer Register will remain closed from August 18, 2026, to August 24, 2026.

The company reported its audited financial results for the quarter and year ended March 31, 2026. For the full fiscal year, the consolidated net profit increased by 13.5% to ₹191.62 crore, compared to ₹168.75 crore in the previous year. On a standalone basis, net profit for the year stood at ₹135.16 crore, up from ₹124.88 crore in the corresponding period last year. Total comprehensive income for the year improved to ₹220.12 crore on a consolidated basis and ₹143.15 crore on a standalone basis.

Q4 Financial Performance

For the fourth quarter, Veedol posted consolidated revenue of ₹610.98 crore, a notable increase from ₹535.46 crore in the same quarter of the prior year. However, Q4 EBITDA declined to ₹63.90 crore from ₹68.69 crore in the year-ago period. Consequently, Q4 consolidated net profit stood at ₹57.46 crore, compared to ₹59.70 crore in the corresponding quarter of the previous year.

Full-Year Financial Performance

Revenue from operations for the consolidated entity rose to ₹2,186.23 crore for the year ended March 31, 2026, compared to ₹1,988.87 crore in the prior year. Standalone revenue from operations increased to ₹1,662.45 crore from ₹1,546.96 crore in the same period. Earnings Per Share (Basic) on a consolidated basis improved to ₹112.75 for FY26 from ₹99.29 in the previous year.