Date: 21st September, 2026

Financial Results (Standalone & Consolidated)

  • Standalone revenue for FY2026: ₹1,546.96 crore (previous year: ₹1,527.28 crore)
  • Standalone profit before tax: ₹142.49 crore
  • Standalone profit after tax: ₹135.16 crore
  • Standalone earnings per share: ₹79.53 (improved from ₹73.48)
  • Consolidated revenue: ₹2,168.54 crore
  • Consolidated profit before tax: ₹238.43 crore
  • Consolidated profit after tax: ₹191.62 crore
  • Middle East operations turned profitable and began contributing dividends for the first time
  • UK businesses (Veedol UK and Granville) continued to strengthen international cash flows

Dividend Declaration or Non-Declaration

  • Resolution No. 2 proposed to confirm payment of first and second interim dividends and declare final dividend for financial year ended 31st March, 2026
  • Dividend amount not specified in transcript

Board Meeting Outcomes

  • Resolution No. 1: To adopt Statement of Profit and Loss Account, Balance Sheet, and Reports of Board of Directors and Auditors
  • Resolution No. 3: To reappoint Shri Ananta Mohan Singh (DIN: 03594804) as Director retiring by rotation
  • Resolution No. 4: To appoint Shri Rajendra Nath Ghosal (DIN: 00308865) as Director from 1st June, 2026 to 31st March, 2027
  • Resolution No. 5: To appoint Shri Rajendra Nath Ghosal as Managing Director from 1st June, 2026 to 31st March, 2027
  • Resolution No. 6: To approve related party transactions with Standard Greases & Specialities Private Limited up to ₹610 crores till 104th AGM
  • Resolution No. 7: To approve related party transactions with ENEOS VCL India Private Limited up to ₹751 crores till 104th AGM
  • Resolution No. 8: To ratify remuneration of ₹3.00 lakhs plus expenses to M/s. Harshad S. Deshpande & Associates for Cost Audit for FY2026-27

KMP / Board / Auditor Changes

  • Board members present: Mr. R. N. Ghoshal (Managing Director), Mr. Praveen Kadle, Mr. Vinod Vyas, Shri Ananta Mohan Singh (online from Kolkata), Shri K. M. Saletore (Independent Director and Chairman of Audit Committee, online from Pune), Dr. N. R. Gokarn (Independent Director and Chairman of Nomination and Remuneration Committee, online from Delhi), Shri Subir Das (Independent Director and Chairman of Risk Committee, online from Kolkata)
  • Absent board members: Smt. B. S. Sihag and Shri Kulbhushan Malhotra (due to unavoidable circumstances)
  • Senior management present: Shri Upendra Gadre (Group CFO), Shri Abhijit Tikekar (Company Secretary and Head - Legal & CSR)
  • Statutory Auditors, Secretarial and Corporate Governance Auditor representatives attended online

Operational & Strategic Updates

  • Global lubricants market valued at USD 178.98 billion in 2025; India's market at USD 4.92 billion
  • Strategic focus on margin protection and business quality over volume growth
  • 'White spot' strategy expanded access to underserved markets
  • Brand engagement through association with Sourav Ganguly and Kolkata Knight Riders partnership
  • Launched Next Generation Fully Synthetic range with proprietary Engine Power Retention technology and India's first application of EstoBioLidesTM
  • New Technology Centre inaugurated in Turbhe for R&D across premium synthetic lubricants, industrial fluids and EV-related applications
  • Digitalization through Project SAPna migration to SAP S/4 HANA with Material Requirements Planning implementation
  • MyVeedol platform and digital order-to-cash system improved distribution coordination
  • V-Lakshya cost optimization program delivered manufacturing gains
  • V-Suraksha safety program achieved Lost Time Injury Frequency Rate of zero
  • ISO certifications maintained across facilities for quality, environment and safety management
  • Sustainability achievements: Reduced Scope 1 and 2 emissions by 9.5%, increased renewable energy to 30% of plant electricity consumption, expanded use of recycled packaging
  • CSR programs reached over 33,500 beneficiaries across education, healthcare, skill development and nutrition
  • Veedol Auto Mechanic Academy built livelihoods for young people

Shareholder Q&A Highlights

  • Management addressed questions about below-industry growth rates (4-5% industry vs company performance)
  • Explained market share decline from 60% to 40% in FY25
  • Discussed premium portfolio at 42% but margin pressures due to market share acquisition strategies
  • Clarified that automotive business has been at 80% for 30 years (not a recent increase)
  • Explained franchise fee growth from ₹14 crores to ₹260 crores due to JV structure and oil industry inflation
  • Stated that Granville brand will remain limited to UK market
  • Addressed EV strategy: Conventional lubricants still have long runway despite EV growth
  • Noted current 70% capacity utilization with no immediate capex needs
  • Explained strong cash balance needed for working capital amid raw material price doubling since February 2026
  • Discussed margin pressures from geopolitical oil crisis and raw material volatility

Voting Arrangements

  • Meeting conducted virtually via NSDL platform
  • Remote e-voting available from 10 AM IST on 21st August, 2026 to 5 PM IST on 23rd August, 2026
  • Cut-off date for voting: Monday, 17th August, 2026
  • Scrutinizer: Sri Manoj Prasad Shaw, Practicing Company Secretary from M/s. Manoj Shaw and Co.
  • Results to be announced on company website and submitted to stock exchanges within two working days