VEEDOL

Veedol Corporation Limited

Veedol Corporation Limited (VEEDOL) financial statements and selected valuation metrics through 30 June 2026.

Energy›Oil, Gas & Consumable Fuels›Petroleum Products›Lubricants

veedolindia.com(opens the company website in a new tab)
Ask AI

Key metrics

Price as of 2026-10-16

Stock price
₹1362.20
Market cap
2,373 Cr
Stock P/E
10.5
P/B
2.24
Dividend yield
4.3%
ROE (FY26)
18.5%
ROCE (FY26)
23.3%
Operating margin (FY26)
8.9%
OCF / EBITDA (FY26)
85.4%
OCF / EBITDA (3Y)
64.2%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

Loading price history…

Compare with peers

Loading peers…

What you need to know

Veedol (Veedol Corporation, formerly Tide Water Oil Co. (India)) makes and sells lubricants, including engine oils, gear oils and industrial lubricants, to vehicle owners, workshops, fleet operators and industry in India, the UK and the Middle East.

Company snapshot

6thBy market cap

Ranked among 7 companies in Lubricants.

What we see

Positives
  • ✓Interest coverage of 80.7x — earnings comfortably cover interest obligations.
2 more signals from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales474 Cr496 Cr487 Cr479 Cr476 Cr482 Cr532 Cr514 Cr509 Cr538 Cr607 Cr609 Cr
Operating expenses (approx.)433 Cr455 Cr440 Cr437 Cr430 Cr444 Cr464 Cr455 Cr456 Cr486 Cr544 Cr510 Cr
EBITDA42 Cr42 Cr47 Cr41 Cr46 Cr38 Cr68 Cr59 Cr53 Cr52 Cr63 Cr98 Cr
OPM %8.8%8.4%9.7%8.6%9.7%7.9%12.7%11.4%10.4%9.6%10.3%16.1%
Other income5 Cr4 Cr8 Cr8 Cr3 Cr5 Cr4 Cr6 Cr4 Cr5 Cr4 Cr4 Cr
Interest0.34 Cr0.85 Cr0.28 Cr0.68 Cr1 Cr0.94 Cr0.75 Cr0.61 Cr0.62 Cr0.45 Cr0.71 Cr0.44 Cr
Depreciation4 Cr4 Cr4 Cr5 Cr8 Cr7 Cr8 Cr8 Cr8 Cr9 Cr10 Cr8 Cr
Profit before tax45 Cr45 Cr55 Cr50 Cr46 Cr37 Cr69 Cr64 Cr55 Cr56 Cr64 Cr102 Cr
Tax %21.9%24.7%22.6%25.6%24.9%-1.0%13.1%22.0%25.9%21.6%10.1%23.5%
Net profit35 Cr34 Cr43 Cr37 Cr35 Cr37 Cr60 Cr50 Cr41 Cr44 Cr57 Cr78 Cr
EPS (₹)₹20.73₹19.75₹25.25₹21.84₹20.36₹21.97₹35.12₹29.23₹24.09₹25.63₹33.81₹45.85

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,300 Cr1,312 Cr1,379 Cr1,317 Cr1,258 Cr1,536 Cr1,854 Cr1,931 Cr1,970 Cr2,169 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,165 Cr1,173 Cr1,249 Cr1,179 Cr1,094 Cr1,388 Cr1,712 Cr1,762 Cr1,776 Cr1,942 CrSign in free for the trailing twelve months
EBITDA136 Cr139 Cr131 Cr138 Cr164 Cr147 Cr142 Cr169 Cr194 Cr227 CrSign in free for the trailing twelve months
OPM %10.4%10.6%9.5%10.5%13.0%9.6%7.7%8.7%9.9%10.5%Sign in free for the trailing twelve months
Other income30 Cr23 Cr21 Cr22 Cr22 Cr20 Cr15 Cr22 Cr18 Cr18 CrSign in free for the trailing twelve months
Interest3 Cr3 Cr2 Cr2 Cr2 Cr2 Cr1 Cr2 Cr4 Cr2 CrSign in free for the trailing twelve months
Depreciation9 Cr9 Cr10 Cr12 Cr14 Cr15 Cr16 Cr15 Cr29 Cr34 CrSign in free for the trailing twelve months
Profit before tax159 Cr159 Cr149 Cr161 Cr185 Cr160 Cr147 Cr187 Cr202 Cr238 CrSign in free for the trailing twelve months
Tax %31.9%33.0%35.1%24.4%23.8%23.2%22.2%23.6%16.3%19.6%Sign in free for the trailing twelve months
Net profit108 Cr107 Cr97 Cr122 Cr141 Cr123 Cr114 Cr143 Cr169 Cr192 CrSign in free for the trailing twelve months
EPS (₹)₹318.54₹314.00₹285.00₹359.11₹415.80₹72.32₹67.37₹84.10₹99.29₹112.75Sign in free for the trailing twelve months
Dividend payout %————59.2%113.4%63.9%57.3%53.7%52.7%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital2 Cr2 Cr2 Cr2 Cr2 Cr3 Cr3 Cr3 Cr3 Cr3 Cr
Reserves611 Cr649 Cr638 Cr679 Cr735 Cr716 Cr760 Cr824 Cr911 Cr1,032 Cr
Borrowings29 Cr42 Cr39 Cr35 Cr17 Cr13 Cr4 Cr———
Other liabilities255 Cr256 Cr249 Cr251 Cr287 Cr303 Cr330 Cr329 Cr339 Cr370 Cr
Total liabilities897 Cr949 Cr928 Cr967 Cr1,040 Cr1,036 Cr1,098 Cr1,156 Cr1,253 Cr1,406 Cr
Fixed assets (net)109 Cr121 Cr126 Cr141 Cr154 Cr148 Cr149 Cr171 Cr207 Cr221 Cr
CWIP0.44 Cr3 Cr2 Cr12 Cr4 Cr3 Cr1 Cr10 Cr7 Cr7 Cr
Investments65 Cr70 Cr71 Cr77 Cr76 Cr71 Cr71 Cr74 Cr82 Cr86 Cr
Loans & advances——0.05 Cr0.06 Cr0.04 Cr0.06 Cr0.05 Cr0.58 Cr0.02 Cr15 Cr
Inventories201 Cr189 Cr189 Cr201 Cr286 Cr290 Cr304 Cr279 Cr333 Cr325 Cr
Trade receivables200 Cr189 Cr196 Cr152 Cr164 Cr212 Cr237 Cr231 Cr290 Cr345 Cr
Cash & bank114 Cr65 Cr34 Cr38 Cr43 Cr32 Cr60 Cr39 Cr43 Cr168 Cr
Other assets205 Cr312 Cr310 Cr347 Cr314 Cr280 Cr276 Cr351 Cr290 Cr239 Cr
Total assets897 Cr949 Cr928 Cr967 Cr1,040 Cr1,036 Cr1,098 Cr1,156 Cr1,253 Cr1,406 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity35 Cr94 Cr79 Cr133 Cr69 Cr93 Cr103 Cr156 Cr30 Cr194 Cr
Cash from investing24 Cr-86 Cr-1 Cr-49 Cr38 Cr37 Cr6 Cr-92 Cr72 Cr47 Cr
Cash from financing-56 Cr-58 Cr-110 Cr-80 Cr-102 Cr-142 Cr-81 Cr-85 Cr-99 Cr-122 Cr
Net cash flow2 Cr-49 Cr-31 Cr4 Cr6 Cr-11 Cr28 Cr-21 Cr4 Cr125 Cr
Free cash flow (OCF − Capex)13 Cr77 Cr65 Cr101 Cr51 Cr85 Cr88 Cr108 Cr-12 Cr159 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %25.2%23.4%22.4%22.9%24.9%22.1%19.3%22.8%22.4%23.3%
ROE %17.7%16.4%15.2%17.9%19.2%17.1%15.0%17.3%18.5%18.5%
Debtor days56525242475047445458
Inventory days11293871111641199994116107
Days payable939082951178770755868
Cash conversion cycle755556589483766311297
OCF / EBITDA %25.7%68.0%60.7%96.2%42.3%63.5%72.8%92.0%15.3%85.4%
OCF / EBITDA % (3 years)——51.5%75.2%65.0%65.8%58.7%76.9%57.1%64.2%
Debt / equity0.050.060.060.050.020.020.0058———
Current ratio2.482.452.502.632.722.622.642.823.093.02
Net debt / EBITDA-0.63—0.04-0.02-0.16-0.12-0.39-0.23-0.22-0.74