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Tide Water Oil has been one of the leading players in the Indian lubricant industry since 1928. It manufactures and markets Veedol brand of lubricants.
Quarterly results
Sales for the quarter ended June 2018 rose 33% to Rs 289.82 crore. OPM rose 140 basis points to 11.5% which saw OP rise 52% to Rs 33.43 crore.
Other income fell 13% to Rs 4.37 crore and interest cost was down 3% to Rs 34 lakh. As deprecation grew 5% to Rs 1.96 crore, PBT went up 43% to Rs 35.50 crore.
Provision for taxation went up 41% to Rs 12.08 crore after which PAT grew 44% to Rs 23.42 crore.
FY 2018 results
For FY 2018 sales grew 12% to Rs 1074.49 crore. OPM fell 200 basis points to 11.7% which saw OP fall 5% to Rs 125.25 crore.
Other income grew 6% to Rs 30.26 crore. Interest cost stagnated at Rs 1.34 crore. As deprecation grew 3% to Rs 7.62 crore, PBT fell 3% to Rs 146.55 crore.
Provision for taxation grew 3% to Rs 49.62 crore after which PAT fell 6% to Rs 96.93 crore.
Consolidated FY 2018 results
For FY 2018 consolidated sales grew 13% to Rs 1274.69 crore. Net profit fell 1% to Rs 106.84 crore.
Valuation
The share price trades at Rs 5995.
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