Veedol Corporation Ltd
About
Tide Water Oil Company India Limited has renamed itself to Veedol Corporation Limited. The company has been manufacturing and marketing lubricants to the automotive and industrial sectors under the Veedol brand. Veedol Corporation specialises in producing engine oils for passenger cars, heavy commercial vehicles, two- and three-wheelers, buses and tractors, and off-highway vehicles. Additionally, the company offers transmission oils, gear oils, brake oil, coolants, and greases for diverse applications in the industrial and automotive industries. With the help of acquisitions and joint ventures with companies in the UK and Japan, the company caters to markets in Europe, the Middle East, the Americas, Africa, Asia-Pacific, and South Asia. Within India, Veedol is headquartered in Kolkata and operates regional offices in Chennai, Mumbai, and New Delhi with a network of 500 direct distributors and 50,000 retail outlets and workshops.
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Financial Data 2024
Fortune India Coverage
Financial Data
| PARAMETERS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (INR Cr) | 1963 4.5% | 1878 18.4% | 1586 20.9% | 1312 -4.3% | 1371 -2.9% | 1412 8.4% | 1302 10.2% | 1181 18.6% | 996 -16.8% | 1198 19.5% | 1003 1.6% | 987 10.5% | 893 13.4% | 788 17.4% | 671 23.3% | 544 - |
| Net Operating Income (INR Cr) | 1931 4.17% | 1854 20.71% | 1536 22.03% | 1258 -4.41% | 1317 -4.39% | 1377 8.03% | 1275 12.83% | 1130 16.04% | 974 -6.13% | 1037 6.65% | 973 -1.68% | 989 13.00% | 875 0.00% | 760 16.39% | 653 22.11% | 534 24.75% |
| Profit (INR Cr) | 143 24.7% | 115 -6.8% | 123 -13.0% | 141 15.8% | 122 25.9% | 97 -9.2% | 107 -1.3% | 108 25.3% | 86 -45.5% | 159 144.7% | 65 3.0% | 63 8.6% | 58 -9.7% | 64 11.0% | 58 109.8% | 28 - |
| Assets (INR Cr) | 881 7.5% | 820 4.4% | 785 -2.5% | 805 5.0% | 767 6.4% | 721 -1.5% | 733 7.1% | 684 5.1% | 651 17.2% | 555 32.3% | 420 13.9% | 369 11.3% | 331 17.7% | 282 38.3% | 204 32.2% | 154 - |
| Net Worth (INR Cr) | 827 8.3% | 764 6.2% | 720 -2.3% | 737 8.2% | 681 6.4% | 640 -1.6% | 650 6.1% | 613 4.6% | 586 17.4% | 499 31.3% | 380 13.2% | 336 10.0% | 305 0.0% | 260 28.8% | 202 35.4% | 149 19.7% |
| Employee Cost (INR Cr) | 140 14.9% | 122 8.9% | 112 6.7% | 105 -0.2% | 105 6.8% | 98 2.8% | 96 21.9% | 78 21.8% | 64 7.1% | 60 20.4% | 50 16.5% | 43 37.5% | 31 0.2% | 31 31.7% | 24 12.6% | 21 - |
| Interest Cost (INR Cr) | 2 | 1 | 2 | 2 | 2 | 2 | 3 | 3 | 1 | 1 | 0 | 0 | 1 | 0 | 2 | 3 |
| Cash & Bank Balance (INR Cr) | 41 | 163 | 149 | 184 | 205 | 160 | 179 | 149 | 244 | 169 | 65 | 49 | 34 | 16 | 20 | 32 |
| Total Debt (INR Cr) | 1 | 5 | 14 | 18 | 38 | 39 | 42 | 29 | 28 | 21 | 9 | 5 | 2 | 0 | 0 | 3 |
Key Financial Ratios
| PARAMETERS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit As % Of Revenues | 7.3% | 6.1% | 7.8% | 10.8% | 8.9% | 6.9% | 8.2% | 9.2% | 8.7% | 13.2% | 6.5% | 6.4% | 6.5% | 8.1% | 8.6% | 5.1% |
| Profit As % Of Assets | 16.2% | 14.0% | 15.7% | 17.6% | 15.9% | 13.4% | 14.6% | 15.8% | 13.3% | 28.6% | 15.4% | 17.1% | 17.5% | 22.8% | 28.4% | 17.9% |
| Profit As % Of Networth | 17.3% | 15.0% | 17.1% | 19.2% | 17.9% | 15.2% | 16.4% | 17.7% | 14.7% | 31.7% | 17.0% | 18.7% | 19.0% | 24.7% | 28.7% | 18.5% |
| Interest Cost to EBITDA % | 1.1% | 1.1% | 1.1% | 1.5% | 1.7% | 1.9% | 1.9% | 2.2% | 0.9% | 0.7% | 0.3% | 0.2% | 1.3% | 0.0% | 2.1% | 6.8% |
| Debt to Equity Ratio | 0.00 | 0.01 | 0.02 | 0.02 | 0.06 | 0.06 | 0.06 | 0.05 | 0.05 | 0.04 | 0.02 | 0.02 | 0.01 | - | - | 0.02 |
| RONW | 18.0% | 15.4% | 16.9% | 20.0% | 18.5% | 15.0% | 16.9% | 18.1% | 14.5% | 12.8% | 18.1% | 19.6% | 19.0% | 27.8% | 33.0% | 20.2% |
| ROCE | 22.2% | 18.5% | 20.3% | 23.9% | 22.0% | 20.9% | 22.9% | 24.3% | 21.5% | 17.0% | 25.6% | 27.1% | 26.2% | 39.3% | 51.7% | 34.7% |