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Results
15-Feb-23
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Analysis
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Tide Water Oil Co (I)
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OPM down 200 bps to 6.8%
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Tide Water Oil Co (I) consolidated net sales
increased 20.69% to Rs 497.07 crore in Q3FY23 compared to Q3FY22. Operating
profit margin has declined from 8.79% to 6.78%, leading to 6.83% decline in
operating profit to Rs 33.72 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
57.20% to 59.71%. Purchase of finished
goods cost rose from 5.09% to 6.02%. Employee cost decreased from 7.14% to
6.12%. Other expenses fell from 21.58% to 21.31%. Other direct service cost
fell from 10.81% to 9.57%.
Other income fell 29.15% to Rs 3.67
crore. PBIDT fell 9.62% to Rs 37.39
crore. Provision for interest fell
10.26% to Rs 0.35 crore.
PBDT fell 9.61% to Rs 37.04 crore. Provision for depreciation rose 11.08% to Rs
4.21 crore.
Profit before tax down 11.72% to Rs 32.83
crore. Share of profit/loss was 33.02%
lower at Rs 2.15 crore. Provision for
tax was expense of Rs 9.03 crore, compared to Rs 10.17 crore. Effective tax rate was 25.81% compared to
25.17%.
Minority interest was nil in both the
periods. Net profit attributable to owners of the company decreased 14.16% to
Rs 25.95 crore.
Promoters’ stake was 57.28% as of 31 December
2022 compared to 57.28% as of 31 December 2021.
For
year-to-date (YTD) results analysis
Net sales (including other operating income)
of Tide Water Oil Co (I) has increased 26.84% to Rs 1383.89 crore. Operating
profit margin has declined from 9.34% to 7.32%, leading to 0.53% decline in
operating profit to Rs 101.35 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
56.98% to 60.24%. Purchase of finished goods cost rose from 5.79% to 5.83%.
Employee cost decreased from 7.63% to 6.34%. Other expenses rose from 20.27% to
20.34%. Other direct service cost fell from 9.85% to 9.11%.
Other income fell 19.02% to Rs 10.73
crore. PBIDT fell 2.66% to Rs 112.08
crore. Provision for interest fell 7.09%
to Rs 1.18 crore.
PBDT fell 2.61% to Rs 110.9 crore. Provision for depreciation rose 4.06% to Rs
11.8 crore.
Profit before tax down 3.35% to Rs 99.10
crore. Share of profit/loss was 36.85%
lower at Rs 5.33 crore. Provision for
tax was expense of Rs 24.33 crore, compared to Rs 25.85 crore. Effective tax rate was 23.30% compared to
23.29%.
Minority interest was nil in both the
periods. Net profit attributable to owners of the company decreased 5.90% to Rs
80.10 crore.
Promoters’ stake was 57.28% as of 31 December
2022 compared to 57.28% as of 31 December 2021.
The scrip is
currently trading at Rs 981
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Tide Water Oil Co (I) : Consolidated Results
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Particulars
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2212 (03)
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2112 (03)
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Var. (%)
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2212 (09)
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2112 (09)
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Var. (%)
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2203 (12)
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2103 (12)
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Var.(%)
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Net
Sales
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497.07
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411.87
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21
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1383.89
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1091.03
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27
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1,535.71
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1,258.48
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22
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OPM
(%)
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6.8
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8.8
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7.3
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9.3
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9.6
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13.0
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OP
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33.72
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36.19
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-7
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101.35
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101.89
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-1
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147.26
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164.08
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-10
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Other
Inc.
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3.67
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5.18
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-29
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10.73
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13.25
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-19
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19.65
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22.36
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-12
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PBIDT
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37.39
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41.37
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-10
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112.08
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115.14
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-3
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166.91
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186.44
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-10
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Interest
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0.35
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0.39
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-10
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1.18
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1.27
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-7
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1.6
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2.41
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-34
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PBDT
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37.04
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40.98
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-10
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110.9
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113.87
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-3
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165.31
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184.03
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-10
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Depreciation
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4.21
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3.79
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11
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11.8
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11.34
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4
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15.47
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14.12
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10
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PBT
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32.83
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37.19
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-12
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99.10
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102.53
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-3
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149.84
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169.91
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-12
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Share
of Profit/(Loss) from Associates
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2.15
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3.21
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-33
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5.33
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8.44
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-37
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10.27
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15.52
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-34
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PBT
before EO
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34.98
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40.40
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-13
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104.43
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110.97
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-6
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160.11
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185.43
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-14
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EO
Income
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0.00
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0.00
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0.00
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0.00
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0
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0
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PBT
after EO
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34.98
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40.40
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-13
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104.43
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110.97
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-6
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160.11
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185.43
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-14
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Taxation
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9.03
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10.17
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-11
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24.33
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25.85
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-6
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37.2
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44.1
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-16
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PAT
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25.95
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30.23
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-14
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80.10
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85.12
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-6
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122.91
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141.33
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-13
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Minority
Interest (MI)
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0
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0
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0
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0
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0
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0
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Net
profit
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25.95
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30.23
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-14
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80.10
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85.12
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-6
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122.91
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141.33
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-13
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EPS
(Rs)*
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#
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#
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#
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#
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70.5
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81.1
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Notes
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*
EPS is on current diluted equity of Rs 3.48 crore, Face value of Rs 2,
Excluding extraordinary items.
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#
EPS is not annualised
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bps
: Basis points
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Figures
in Rs crore
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Source:
Capitaline Corporate Database
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Previous News |
Board of Tide Water Oil Company India recommends 2nd interim dividend
(
Corporate News
-
14-Feb-24
09:09
)
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Tide Water Oil Co (I)
(
Results
-
Analysis
15-Aug-21
14:05
)
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Board of Tide Water Oil Company India recommends final dividend
(
Corporate News
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31-May-22
19:31
)
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Tide Water Oil Company India to conduct board meeting
(
Corporate News
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29-Jul-23
17:19
)
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Board of Tide Water Oil Company India recommends Third Interim Dividend
(
Corporate News
-
15-Feb-23
10:47
)
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Tide Water Oil Co (I) standalone net profit declines 40.76% in the June 2017 quarter
(
Results
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Announcements
14-Aug-17
17:28
)
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Board of Tide Water Oil Company India recommends interim dividend
(
Corporate News
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13-Nov-21
17:53
)
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Tide Water Oil Co (I) consolidated net profit rises 29.33% in the December 2023 quarter
(
Results
-
Announcements
14-Feb-24
07:52
)
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Board of Tide Water Oil Company India recommends interim dividend
(
Corporate News
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16-Nov-20
12:09
)
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Tide Water Oil Co (I) standalone net profit declines 15.77% in the September 2016 quarter
(
Results
-
Announcements
28-Nov-16
07:57
)
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Tide Water Oil Company India schedules board meeting
(
Corporate News
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02-Aug-22
10:49
)
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