Veedol Corporation Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
VEEDOL · price
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Awaiting price reaction for this filing.
Veedol Corporation reported Q1 FY26 (quarter ended June 30, 2025) unaudited results. Standalone revenue from operations fell to Rs. 372.77 crore from Rs. 378.24 crore in Q1 FY25, while standalone profit after tax dropped sharply to Rs. 16.29 crore from Rs. 26.78 crore, a decline of about 39% year-on-year. On a consolidated basis, revenue grew to Rs. 513.62 crore from Rs. 478.87 crore, and profit after tax rose to Rs. 49.67 crore from Rs. 36.91 crore, an increase of around 35% YoY, helped by the joint venture ENEOS Tide Water. The board also approved a new non-executive director, appointed a new senior management personnel (HR), noted the resignation of the Company Secretary, added P G Bhagwat LLP as an additional internal auditor, and approved the sale of a Chennai office space for Rs. 2 crore. Price Waterhouse issued an unmodified limited review report on both standalone and consolidated results.
Standalone earnings are weak with both revenue and profit declining YoY, which could weigh on the stock. However, consolidated numbers are healthier thanks to subsidiary and joint venture contributions, offering some comfort to shareholders. Governance changes (new director, internal auditor addition, Company Secretary exit) are routine and unlikely to move the stock on their own.