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Veedol Corporation Q3 FY26 results: net profit up 16.6% to ₹43.55 crore, revenue up 11.5%
Veedol Corporation Limited reported consolidated Q3 FY26 revenue of ₹537.73 crore and net profit of ₹43.55 crore. Revenue rose 11.5% from Q3 FY25, while EBITDA increased to ₹51.59 crore and the EBITDA margin widened to 9.6%.
Key points
- Consolidated Q3 FY26 revenue was ₹537.73 crore, up 11.5% from ₹482.42 crore in Q3 FY25.
- EBITDA was ₹51.59 crore, up 35.4% from ₹38.11 crore, while the margin increased to 9.6% from 7.9%.
- Net profit rose to ₹43.55 crore from ₹37.34 crore, an increase of 16.6%.
- Basic EPS was ₹25.63, up from ₹21.97 in Q3 FY25.
- For 9M FY26, revenue was ₹1560.58 crore and net profit was ₹134.16 crore, compared with ₹1437.51 crore and ₹109.05 crore in 9M FY25.
How did Veedol Corporation perform in Q3 FY26?
Veedol Corporation’s consolidated revenue for Q3 FY26 was ₹537.73 crore, against ₹482.42 crore in Q3 FY25 and ₹509.23 crore in Q2 FY26. The quarter’s EBITDA was ₹51.59 crore, compared with ₹38.11 crore a year earlier and ₹53.07 crore in the previous quarter. The EBITDA margin was 9.6%, up from 7.9% year on year but lower than 10.4% in Q2 FY26.
Consolidated net profit was ₹43.55 crore in Q3 FY26, against ₹37.34 crore in Q3 FY25 and ₹40.94 crore in Q2 FY26. Basic EPS was ₹25.63, compared with ₹21.97 a year earlier and ₹24.09 in the previous quarter. On the standalone basis, revenue was ₹395.02 crore and net profit was ₹43.64 crore.
| ₹ crore | Q3 FY26 | Q2 FY26 | Q3 FY25 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 537.73 | 509.23 | 482.42 | +11.5% | +5.6% |
| Other income | 5.17 | 3.84 | 4.72 | +9.5% | +34.6% |
| Total expenses | 495.28 | 464.93 | 452.17 | +9.5% | +6.5% |
| EBITDA | 51.59 | 53.07 | 38.11 | +35.4% | −2.8% |
| EBITDA margin | 9.6% | 10.4% | 7.9% | +1.7 pp | −0.8 pp |
| Profit before tax | 47.62 | 48.14 | 28.41 | +67.6% | −1.1% |
| Tax | 12.01 | 14.31 | −0.38 | −16.1% | |
| Net profit | 43.55 | 40.94 | 37.34 | +16.6% | +6.4% |
| EPS (₹) | 25.63 | 24.09 | 21.97 | +16.7% | +6.4% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Veedol Corporation's costs and profit?
Total expenses rose to ₹495.28 crore in Q3 FY26 from ₹452.17 crore in Q3 FY25, an increase of ₹43.11 crore. Cost of materials was higher by ₹33.24 crore at ₹290.55 crore, employee cost increased by ₹4.10 crore to ₹41.77 crore, and depreciation rose by ₹1.77 crore to ₹8.69 crore. Other expenses increased by ₹7.49 crore to ₹127.06 crore, while finance costs fell by ₹0.49 crore to ₹0.45 crore.
Other income increased by ₹0.45 crore to ₹5.17 crore from ₹4.72 crore. There was no exceptional item in Q3 FY26, compared with a ₹6.56 crore charge in Q3 FY25. Tax was ₹12.01 crore against ₹0.38 crore a year earlier, a difference of ₹12.39 crore. The filing stated that the prior-year exceptional charge related to inventory destroyed by a fire at a third-party depot in Bhiwandi, Maharashtra.
| ₹ crore | Q3 FY26 | Q3 FY25 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 290.55 | 257.31 | +33.24 | +12.9% |
| Employee cost | 41.77 | 37.67 | +4.10 | +10.9% |
| Finance costs | 0.45 | 0.94 | −0.49 | −52.1% |
| Depreciation | 8.69 | 6.92 | +1.77 | +25.6% |
| Other expenses | 127.06 | 119.57 | +7.49 | +6.3% |
| Total expenses | 495.28 | 452.17 | +43.11 | +9.5% |
| Other income | 5.17 | 4.72 | +0.45 | +9.5% |
| Tax | 12.01 | −0.38 | +12.39 | |
| Exceptional items | none | −6.56 (charge) |
Source: Company's results filing (XBRL).
How did the first nine months of FY26 go?
For the first nine months of FY26, consolidated revenue was ₹1560.58 crore, up 8.6% from ₹1437.51 crore in 9M FY25. Total income increased by 8.4% to ₹1575.34 crore from ₹1453.43 crore, while profit before tax rose 35.8% to ₹151.91 crore from ₹111.89 crore.
Net profit for 9M FY26 was ₹134.16 crore, against ₹109.05 crore in the year-ago period, an increase of 23.0%. EPS was ₹78.94, compared with ₹64.17 in 9M FY25, while the increase in profit before tax was ₹40.02 crore.
| ₹ crore | 9M FY26 | 9M FY25 | Change |
|---|---|---|---|
| Revenue from operations | 1,561 | 1,438 | +8.6% |
| Profit before tax | 151.91 | 111.89 | +35.8% |
| Net profit | 134.16 | 109.05 | +23.0% |
| EPS (₹) | 78.94 | 64.17 | +23.0% |
Source: Company's results filing (XBRL).
How has Veedol Corporation done over the last 8 quarters?
Revenue reached its highest level in the reported series in Q3 FY26 at ₹537.73 crore, after ₹531.91 crore in Q4 FY25 and ₹509.23 crore in Q2 FY26. The lowest was ₹476.22 crore in Q2 FY25. Veedol Corporation’s revenue rose year on year in each of the last four quarters, and the current direction was upward.
Net profit reached ₹59.7 crore in Q4 FY25, the highest point in the reported series, before easing to ₹40.94 crore in Q2 FY26 and recovering to ₹43.55 crore in Q3 FY26. The lowest profit was ₹34.6 crore in Q2 FY25. EBITDA margin peaked at 12.7% in Q4 FY25 and fell to 7.9% in Q3 FY25 before reaching 9.6% in Q3 FY26. Profit rose year on year in each of the last five quarters.
What else did the company announce?
The board declared a second interim dividend of 700%, or ₹14 per ordinary share of face value of ₹2 each, for FY26. It fixed 6 February 2026 as the record date and said eligible shareholders would receive the dividend within 30 days from the declaration date.
The board also appointed Kulbhushan Malhotra as an additional director, with effect from 3 February 2026, and approved a postal ballot seeking shareholder approval for his appointment as a non-executive and non-independent director. M/s. Manoj Shaw & Co. was appointed to issue the FY26 corporate-governance compliance certificate, and P G Bhagwat LLP was appointed internal auditor for FY27. No fund raise was reported in the same-day filings.
How did Veedol Corporation shares react?
After the filing appeared after market hours, the stock fell 1.3% after five minutes, 1.7% after 15 minutes and 2.2% after 30 minutes. On the reaction day, it closed 2.4% above its pre-results close. By the next day's close, the stock was up 5.2% from that pre-results close, and by the fifth session's close it was up 4.0%.
The Lubricants industry median gained 3.2% on the reaction day, 4.1% by the next day's close and 8.4% by the fifth session's close. Veedol Corporation therefore trailed the industry by 0.8 percentage points on the reaction day and 4.4 percentage points by the fifth session. Earlier reaction-day moves were negative on 10 November 2025, 13 August 2025 and 12 November 2024, among other dates.
| After the filing | Stock | Lubricants median |
|---|---|---|
| 5 minutes | −1.3% | |
| 15 minutes | −1.7% | |
| 30 minutes | −2.2% | |
| Reaction day | +2.4% | +3.2% |
| Next day | +5.2% | +4.1% |
| 5 days | +4.0% | +8.4% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 10 November 2025 | −0.9% |
| 13 August 2025 | −0.4% |
| 28 May 2025 | +3.5% |
| 5 February 2025 | +0.8% |
| 12 November 2024 | −5.2% |
| 13 August 2024 | −1.6% |
| 18 May 2024 | +2.6% |
Source: MarketPing price-reaction measurement.
How did other Lubricants companies do?
Five other Lubricants companies filed for the quarter, with a median revenue growth of 10.6%. Of these, three grew more slowly than Veedol Corporation and two grew faster. Two of the five companies reported higher profit.
| Veedol Corporation revenue growth (YoY) | +11.5% |
|---|---|
| Median of 5 other Lubricants companies | +10.6% |
| Companies with slower revenue growth than Veedol Corporation | 3 of 5 |
| Companies with faster revenue growth than Veedol Corporation | 2 of 5 |
| Companies whose net profit rose | 2 of 5 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Veedol Corporation's revenue in Q3 FY26?
Revenue from operations was ₹537.73 crore, up 11.5% from ₹482.42 crore in Q3 FY25 (consolidated).
Did Veedol Corporation make a profit in Q3 FY26?
Yes. Net profit was ₹43.55 crore, against a net profit of ₹37.34 crore in Q3 FY25.
What was Veedol Corporation's EPS in Q3 FY26?
Basic earnings per share were ₹25.63, against ₹21.97 in Q3 FY25.
How did Veedol Corporation shares react to the Q3 FY26 results?
On the reaction day the stock moved +2.4% from the previous close; the median Lubricants stock moved +3.2%.
When did Veedol Corporation announce its Q3 FY26 results?
On 2 February 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consideration Of Unaudited Financial Results For The Quarter And Nine Months Period Ended 31St December, 2025 And Payment Of Second Interim Dividend For The Financial Year 2025-26. (BSE, 21 January 2026) · PDF
- Dividend (NSE, 2 February 2026) · PDF
- Outcome of Board Meeting (NSE, 2 February 2026) · PDF
- Record Date (NSE, 2 February 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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