|
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
For the quarter ended March 2019, sales rose 4% to Rs 311.39 crore. OPM fell 300 basis points to 10.8% which saw OP fall 19 % to Rs 33.64 crore.
Other income jumped 83% to Rs 11.91 crore and interest cost was same at Rs 31 lakh. As deprecation grew 14% to Rs 2.17 crore, PBT went down 6% to Rs 43.07 crore.
Provision for taxation went fell 15% to Rs 14.67 crore after which PAT grew marginally to Rs 28.40 against Rs 28.32 crore.
FY 2019 results
In FY 2019, sales rose 11% to Rs 1193.34 crore. OPM fell 150 basis points to 10.2% which saw OP fall 3% to Rs 121.15 crore.
Other income fell 3% to Rs 35.43 crore and interest cost was stagnant at Rs 1.3 crore. As deprecation grew 9% to Rs 8.29 crore, PBT went up marginally to Rs 146.96 crore.
Provision for taxation went up 1% to Rs 50.24 crore after which PAT stood at Rs 96.72 crore against Rs 96.93 crore.
FY 2019 consolidated results
In FY 2019, sales rose 8% to Rs 1379.41 crore. OPM fell 140 basis points to 9.5% which saw OP fall 6% to Rs 130.52 crore.
Other income fell 9% to Rs 21.11 crore and interest cost was stagnant at Rs 2.47 crore. As deprecation grew 12% to Rs 10.46 crore, PBT went down 8% to Rs 138.70 crore.
Share of profit of JV stood grew 14% to Rs 10.65 crore after which PBT after share of profit of JV fell 6% to Rs 149.35 crore.
Provision for taxation stood same at Rs 52.38 crore after which PAT stood at Rs 96.97 crore against Rs 106.84 crore.
Valuation
The Board of Directors have recommended a final dividend of Ra. 75/- per share for the year 2018-19 subject to approval of shareholders..
The share price trades at Rs 5290.
|