Results     01-Jun-16
Analysis
Tide Water Oil
March 2016 quarter PBT before EO jumps 92%
Related Tables
 Tide Water Oil: Results
Sales for the quarter ended March 2016 grew 5% to Rs 259.63 crore. OPM jumped 610 basis points from 10.3% to 16.4% which saw OP rising 68% to Rs 42.47 crore.

Raw material cost grew 2% to Rs 131.80 crore and as a % to sales it fell from 52.7% to 50.8%. Employee Cost fell 16% to Rs 9.91 crore and as a % to sales it fell from 4.8% to 3.8%.

Other income jumped 111% to Rs 5.56 crore. Interest cost was nil. As deprecation fell 53% to Rs 1.83 crore, PBT grew 92% to Rs 46.20 crore.

EO loss was Rs 24.49 crore against a gain of Rs 42.94 crore. Thus PBT after EO fell 68% to Rs 21.71 crore.

EO loss for the quarter includes provision for loss on investment in subsidiary.

Provision for taxation fell 32% to Rs 16.19 crore. Finally PAT fell 87% to Rs 5.52 crore.

FY 2016 results

Sales for FY 2016 grew 3% to Rs 986.27 crore. OPM jumped 500 basis points from 9.1% to 14.1% which saw OP rise 59% to Rs 139.20 crore.

Raw material cost fell 16% to Rs 512.82 crore and as a % to sales it fell from 63.9% to 62.0%.

Other income jumped 78% to Rs 23.39 crore. Interest cost was nil. As deprecation fell 3% to Rs 7.24 crore, PBT grew 67% to Rs 155.35 crore.

EO loss was Rs 24.49 crore against a gain of Rs 150.33 crore. Thus PBT after EO fell 46% to Rs 130.86 crore.

EO loss for the quarter and FY 2016 includes provision for loss on investment in subsidiary.

Provision for taxation fell 26% to Rs 53.17 crore. Finally PAT went down 55% to Rs 77.69 crore.

Consolidated FY 2016 results

Consolidated sales for FY 2016 grew 2% to Rs 1056.45 crore. OPM jumped 520 basis points from 7.7% to 12.9% which saw OP rise 70% to Rs 136.37 crore.

Other income jumped 72% to Rs 22.84 crore. Interest fell 58% to Rs 23 lakh. As deprecation grew 17% to Rs 13.04 crore, PBT grew 78% to Rs 145.94 crore. EO gains were NIL against Rs 150.33 crore. Thus PBT after EO fell 37% to Rs 145.94 crore. Provision for taxation fell 25% to Rs 55.53 crore after which PAT went down 43% to Rs 90.41 crore.

The consolidated results include results of wholly owned subsidiaries – Veedol International limited, Veedol International DMCC and Veedol International BV. It also includes results of step down subsidiaries Veedol Deutschland GmbH and Veedol International Americas Inc. and also results of the two JV companies viz. JX Nippon, TWO Lubricants India private limited.

Valuation

The diminution of value of investment of Rs 41 lakh held by the company is not of permanent nature and accordingly no provision has been made.

The directors have recommended final dividend of Rs 87.50 per share.

The share price trades at Rs 5890.

Previous News
  Veedol Corporation consolidated net profit rises 39.10% in the March 2025 quarter
 ( Results - Announcements 29-May-25   15:55 )
  Tide Water Oil Co (I) fixes record date for 2nd interim dividend
 ( Market Beat - Reports 31-Jan-24   20:38 )
  Tide Water Oil Co (I)
 ( Results - Analysis 14-Aug-24   06:00 )
  Board of Tide Water Oil Co appoints director
 ( Corporate News - 15-Mar-24   16:42 )
  Tide Water Oil Co. appoints Sourav Ganguly as brand ambassador of Veedol
 ( Corporate News - 28-Jun-24   19:20 )
  Tide Water Oil Co (I) fixes record date for 2nd interim dividend
 ( Market Beat - Reports 01-Feb-22   17:51 )
  Veedol Corporation to table results
 ( Corporate News - 28-Jan-25   10:35 )
  Tide Water Oil Co (I) consolidated net profit declines 9.00% in the March 2023 quarter
 ( Results - Announcements 27-May-23   07:50 )
  Veedol Corporation fixes record date for 2nd interim dividend
 ( Market Beat - Reports 28-Jan-25   10:29 )
  Board of Tide Water Oil Company India recommends interim dividend
 ( Corporate News - 13-Nov-21   17:53 )
  Tide Water Oil Company India schedules board meeting
 ( Corporate News - 02-Aug-22   10:49 )
Other Stories
  Transrail Lighting
  06-Jun-25   19:40
  Ipca Laboratories
  02-Jun-25   10:36
  Apollo Hospitals Enterprise
  02-Jun-25   10:27
  Fiem Industries
  02-Jun-25   10:10
  Vodafone Idea
  02-Jun-25   09:44
  Sun TV Network
  02-Jun-25   09:36
  India Nippon Electricals
  01-Jun-25   15:35
  Lumax Auto Technologies
  01-Jun-25   15:34
  Bajaj Auto
  31-May-25   13:41
  Josts Engineering Company
  31-May-25   13:29
Back Top