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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 March 2018 rose 16% to Rs 298.12 crore. OPM fell 250 basis points to 13.9% which saw OP fall 1% to Rs 41.44 crore.
Other income fell 9% to Rs 6.35 crore and interest cost was down 3% to Rs 31 lakh. As deprecation grew 2% to Rs 1.90 crore, PBT fell 3% to Rs 45.58 crore.
Provision for taxation went up 39 to Rs 17.26 crore after which PAT fell 18% to Rs 28.32 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
Directors have recommended final dividend of Rs 100 per share the year 2018.
The share price trades at Rs 6849.
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