|
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 2016 grew 4% to Rs 284.16 crore. OPM fell 290 basis points from 12.1% to 9.3% which saw OP falling 21% to Rs 26.29 crore.
Other expenses grew 22% to Rs 64.87 crore and as a % to sales it grew from 19.4% to 22.8%.
Other income grew 2% to Rs 8.00 crore. Interest cost was nil. As deprecation grew 8% to Rs 1.90 crore, PBT fell 18% to Rs 32.39 crore.
Provision for taxation fell 23% to Rs 9.59 crore after which PAT fell 15% to Rs 22.80 crore.
Nine months results
Sales for the nine months ended December 2016 grew 3% to Rs 830.54 crore. OPM fell 150 basis points from 12.1% to 10.6% which saw OP fall 10% to Rs 88.03 crore.
Other income grew 18% to Rs 21.70 crore. Interest cost was nil. As deprecation grew 4% to Rs 5.51 crore, PBT fell 6% to Rs 104.22 crore.
Provision for taxation fell 4% to Rs 35.66 crore after which PAT fell 7% to Rs 68.56 crore.
Valuation
The share price trades at Rs 6037.
|