Veedol Corporation Limited (formerly Tide Water Oil Co. (India) Ltd.) has announced robust financial results for the second quarter of the fiscal year 2025-26, along with a substantial interim dividend and key management changes.

Financial Performance

The company's Board of Directors, in its 351st meeting held on November 10, 2025, approved the unaudited financial results for the quarter and half-year ended September 30, 2025. The results showcase a strong performance:

Generous Dividend Declaration

Veedol Corporation has declared a first interim dividend of 1100% for the financial year 2025-26. This translates to Rs 22 per ordinary share with a face value of Rs 2 each. The record date for dividend distribution has been set for November 14, 2025, with the payment to be made within 30 days of declaration, by December 8, 2025.

Management Changes

The company has announced several significant changes in its management structure:

1. New Company Secretary: Abhijit Tikekar has been appointed as the Company Secretary & Head Legal (KMP) effective November 10, 2025. Tikekar brings 19 years of experience in company secretarial functions, legal affairs, finance, M&A, statutory compliances, and corporate governance.

2. Board Changes: Two Independent Directors, P.S. Bhattacharyya and P.Y. Gurav, will conclude their directorships on November 12, 2025, due to the completion of two consecutive terms.

   • Bhattacharyya will step down as the chairperson of the Audit Committee and Nomination and Remuneration Committee.
   • Gurav will cease to be a member of the Audit Committee and Committee of Directors.

Regulatory Compliance

The company has affirmed its commitment to regulatory compliance, stating that there are no deviations or variations in the use of funds from public issues, rights issues, preferential issues, or qualified institutions placements. Additionally, Veedol Corporation reported no outstanding loans or debt securities in default.

Looking Ahead

With strong financial results and proactive management changes, Veedol Corporation appears to be positioning itself for continued growth in the lubricants and oil industry. The substantial interim dividend reflects the company's robust cash position and commitment to shareholder value.

Veedol Corporation Limited, a prominent player in the oil industry, has announced a significant addition to its senior management team. The company has appointed Shri Abhijit Tikekar as Head - Legal, effective October 16, 2025. This strategic move aims to bolster the company's legal affairs and corporate governance framework.

Key Appointment Details

Professional Background

Shri Abhijit Tikekar brings a wealth of experience and qualifications to his new role at Veedol Corporation:

• Bachelor of Laws (LLB), Pune University
• Pursuing ACCA (Final level) from Association of Chartered Certified Accountants of the UK | | Years of Experience | 19 years | | Areas of Expertise | Company Secretarial Functions, Legal Affairs, Finance, M&A, Statutory Compliances, Corporate Governance | | Previous Role | Sandvik Group Legal at Stockholm, Sweden |

Implications for Veedol Corporation

The appointment of Shri Abhijit Tikekar as Head - Legal is expected to strengthen Veedol Corporation's legal and compliance framework. His extensive experience in various domains, including company secretarial functions, legal affairs, and corporate governance, aligns well with the company's needs as it navigates the complex regulatory landscape of the oil industry.

Tikekar's international exposure, particularly his previous role with Sandvik Group Legal in Stockholm, Sweden, may bring a global perspective to Veedol Corporation's legal strategies. This could be particularly valuable as the company potentially explores international markets or deals with cross-border legal issues.

The company's decision to appoint Tikekar to this senior management position underscores its commitment to maintaining robust legal and compliance practices. As businesses face increasing regulatory scrutiny, having a seasoned professional at the helm of legal affairs may help Veedol Corporation navigate challenges and capitalize on opportunities within the legal framework of its operations.

Veedol Corporation's proactive approach in strengthening its senior management team with this strategic appointment may be seen as a positive signal by stakeholders, potentially enhancing confidence in the company's governance practices.

As Shri Abhijit Tikekar assumes his new role, the industry will be watching closely to see how his expertise and experience contribute to Veedol Corporation's legal strategies and overall corporate governance in the coming years.