Outcome of the Board Meeting dated 20.05.2026
VEEDOL · price
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Veedol Corporation Limited (formerly Tide Water Oil Co.) reported FY2026 standalone revenue of Rs. 1,546.96 crore (up 1.3% YoY) and consolidated revenue of Rs. 2,168.54 crore (up 10% YoY). Standalone PAT grew 8.2% to Rs. 135.16 crore while consolidated PAT rose 13.5% to Rs. 191.62 crore. The Board declared a high dividend of 1100% (Rs. 22 per share) totaling Rs. 38.33 crore. Key management changes include the resignation of Managing Director Mr. Arijit Basu (effective May 31, 2026) and appointment of Mr. Rajendra Nath Ghosal as the new Managing Director. The company received an unmodified (clean) audit opinion from Price Waterhouse. A Rs. 6.56 crore fire insurance claim at Bhiwandi depot was repudiated, and new labour code implementation created Rs. 2.60 crore past service cost.
Strong financial performance with double-digit PAT growth at consolidated level and a generous dividend payout signals confidence in business prospects. The leadership transition at the MD level may create short-term uncertainty, but solid cash flows (standalone operating cash flow Rs. 91.43 crore) and clean audit opinion are positive for shareholders.