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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 December 2017 rose 21% to Rs 292.39 crore. OPM improved 40 basis points to 11.4% which saw OP rise 25% to Rs 33.24 crore.
Other income grew 7% to Rs 8.597 crore and interest cost was down 6% to Rs 32 lakh. As deprecation grew 2% to Rs 1.94 crore, PBT jumped 22% to Rs 39.59 crore.
Provision for taxation went up 9% to Rs 10.49 crore after which PAT grew 28% to Rs 29.10 crore.
Nine months results
Sales for nine months stagnated at Rs 776.37 crore. OPM fell 190 basis points to 10.8% which saw OP fall 6% to Rs 83.81 crore.
Other income grew 10% to Rs 23.91 crore. Interest cost fell 11% to Rs 1.03 crore. As deprecation grew 4% to Rs 5.72 crore, PBT fell 3% to Rs 100.97 crore.
Provision for taxation fell 9% to Rs 32.36 crore after which PAT stood at Rs 68.61 crore against Rs 68.56 crore.
Other details
Shares held under "Tide Water Oil Company Employee Benefit Trust" of face value Rs 4 lakh (March 2017: Rs 4 lakh) has been netted from paid-up equity share capital.
Valuation
The share price trades at Rs 6849.
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