Veedol Corporation Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
VEEDOL · price
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Veedol Corporation Limited (formerly Tide Water Oil) reported FY2026 standalone revenue of Rs. 1,547 crore (up 1.3% YoY) and standalone PAT of Rs. 135.16 crore (up 8.2% YoY). Consolidated revenue stood at Rs. 2,168.54 crore (up 10% YoY) with consolidated PAT of Rs. 191.62 crore (up 13.5% YoY). The Board declared a dividend of 1100% (Rs. 22 per share) worth Rs. 38.33 crore, subject to shareholder approval. The auditors (Price Waterhouse) issued an unmodified (clean) opinion. Key management changes include the resignation of Managing Director Mr. Arijit Basu (effective May 31, 2026), replaced by Mr. Rajendra Nath Ghosal. The company also disclosed that an insurance claim of Rs. 6.56 crore for a fire incident at a Bhiwandi depot in October 2024 has been repudiated. Related party transactions included loans given to and interest received from related parties. Cash flow from operations was strong at Rs. 91.43 crore (standalone) and Rs. 193.79 crore (consolidated).
The company delivered steady profit growth with a clean audit opinion. The dividend declaration and strong operating cash flows are positive for shareholders. The repudiated insurance claim and management transition at year-end are watch items but do not appear to materially impact financial health.