Comprehensive Financial and ESG Performance Overview
Veedol Corporation Limited (formerly Tide Water Oil Company (India) Limited) submitted its Annual Report for FY 2025-26 containing audited financial statements and notice of 103rd AGM to stock exchanges in compliance with SEBI LODR Regulations. The company reported strong financial performance with standalone revenue of ₹1,546.96 crore and PAT of ₹135.16 crore, showing improvement from previous year with EPS reaching ₹79.53.
Financial Highlights
Standalone Performance: Revenue from Operations reached ₹1,546.96 crore (vs. ₹1,527.28 crore in FY25) with Profit Before Tax of ₹142.49 crore. The company paid interim dividends totaling 1800% (₹36.00 per share) and recommended final dividend of 1100% (₹22.00 per share), resulting in total dividend outflow of ₹101.06 crore.
Consolidated Performance: The group achieved revenue of ₹2,168.54 crore with Profit After Tax of ₹191.62 crore. Key subsidiaries performed well - Granville Oil & Chemicals Limited achieved PBT of GBP 12.35 million, ENEOS VCL India Private Limited (joint venture) achieved PBT of ₹81.41 crore, and Veedol International FZCO delivered PAT exceeding ₹5 crore.
ESG and Sustainability Reporting
The company published a comprehensive Business Responsibility and Sustainability Report (BRSR) disclosing ESG metrics across nine principles of NGRBC. Key highlights include 100% human rights training coverage, 9% female wage ratio, GHG emissions of 1,424 MT CO2e, and 14.14% MSME sourcing. Independent assurance was provided by Tirkha Consultants for BRSR Core indicators.
Corporate Governance and Compliance
The Board approved all financial statements and reports with 5 Board meetings held during the year. Significant board changes included appointment of Shri Rajendra Nath Ghosal as Managing Director effective 1st June, 2026. Secretarial Audit conducted by M/s. Manoj Shaw & Co. contained no qualifications or adverse remarks.
Operational and Segment Performance
The Group operates in a single business segment of "Lubricants" with geographic revenue breakdown of ₹1,529.24 crore from India and ₹639.30 crore from outside India. Key developments included new product launches with proprietary technology, manufacturing optimizations, and solar/wind renewable energy installations.
Regulatory Compliance and Assurance
The company confirmed compliance with all applicable provisions of SEBI LODR Regulations, Companies Act, 2013, and environmental laws. Statutory audit was conducted by Price Waterhouse Chartered Accountants LLP. No material non-compliances or frauds were reported during the year.
The 103rd Annual General Meeting is scheduled for 24th August, 2026 through Video Conferencing, with the Annual Report available on the company website at www.veedolindia.com.