Veedol Corporation Reports 39% Drop in Q1 Net Profit
Veedol Corporation Limited, formerly Tide Water Oil Company (India) Ltd., announced a substantial decrease in Q1 financial performance. Total income dropped 3.2% to Rs 385.35 crore, while net profit after tax fell 39.2% to Rs 16.29 crore. Profit before tax declined 41.6% to Rs 19.70 crore, and total comprehensive income decreased 38.6% to Rs 16.25 crore. Earnings per share reduced to Rs 9.59 from Rs 15.76. Consolidated results showed stronger performance with total income at Rs 519.37 crore and net profit after tax at Rs 49.67 crore.
13Aug 25
Veedol Corporation Reports Mixed Q1 Results, Appoints New Director and Senior Management
Veedol Corporation Limited reported mixed Q1 financial results. Standalone profit declined 39.2% to Rs. 16.29 crores, while consolidated profit increased 33.8% to Rs. 49.67 crores. The company appointed Brajesh Kumar Srivastava as a Non-Executive Director and Dr. Manish Khodaskar as Sr. General Manager. Company Secretary Saptarshi Ganguly resigned. P G Bhagwat LLP was appointed as additional internal auditors. The Board approved the sale of Chennai office space for Rs. 2 crores.
22Jul 25
Veedol Corporation Director Vijay Mittal Steps Down Citing Time Constraints
Vijay Mittal, a Non-Executive and Non-Independent Director of Veedol Corporation Limited, has resigned from the board citing time constraints. Mittal submitted his resignation on July 14, 2025, which the company disclosed to stock exchanges on July 21, 2025. He expressed gratitude for his tenure and wished the company continued success. The board will consider his resignation in the upcoming meeting.
09Jun 25
Andrew Yule Successfully Completes 2% Stake Sale in Veedol Corporation
Andrew Yule & Company has successfully executed a 2% stake sale in Veedol Corporation Ltd. through an Offer for Sale (OFS) on June 9. The OFS involved 3.48 lakh equity shares with a floor price of ₹1,566.00 per share. Prior to the sale, Andrew Yule held a 26.23% stake in Veedol Corporation. This divestment could impact Andrew Yule's investment portfolio, Veedol's share liquidity, and investor interest in both companies.
Veedol Corp, a leading industrial lubricant manufacturer, reported impressive Q4 FY results. Net profit rose 39.2% to ₹597.00 million, revenue increased 8.8% to ₹5.30 billion, and EBITDA grew 41.2% to ₹672.00 million. The company's EBITDA margin improved to 12.63%. Veedol Corp also declared an interim dividend of ₹22.00 per equity share. Full-year results showed consistent growth with revenue up 4.51% and net profit increasing 24.69%.
23May 25
Veedol Corporation: Promoter Withdraws 2% OFS Due to Technical Glitch
Andrew Yule & Company Ltd., promoter of Veedol Corporation, has withdrawn its planned 2% equity Offer For Sale (OFS) due to technical complications in transferring shares to the NSE Clearing Corporation. The OFS, originally scheduled for May 23-26, 2025, with a floor price of ₹1,566.00 per share, has been postponed until further notice. No new date has been announced yet.