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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
For the quarter ended September 2018, sales rose 7% to Rs 283.78 crore. OPM fell 80 basis points to 10.0% which saw OP fall 1% to Rs 28.26 crore.
Other income grew 11% to Rs 11.42 crore and interest cost was down 11% to Rs 34 lakh. As deprecation grew 6% to Rs 2.04 crore, PBT went up 2% to Rs 37.30 crore.
Provision for taxation went down 6% to Rs 12.54 crore after which PAT grew 7% to Rs 24.76 crore.
Six month results
For the ix months, sales rose 19% to Rs 573.60 crore. OPM improved 30 basis points to 10.8% which saw OP rise 22% to Rs 61.69 crore.
Other income grew 3% to Rs 15.79 crore and interest cost was down 7% to Rs 68 lakh. As deprecation grew 6% to Rs 4.00 crore, PBT went up 19% to Rs 72.80 crore.
Provision for taxation went up 13% to Rs 24.62 crore after which PAT grew 22% to Rs 48.18 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.
PBT fell 3% to Rs 146.55 crore.
PAT fell 6% to Rs 96.93 crore.
Valuation
The share price trades at Rs 5650.
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