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Veedol Corporation Ltd.

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veedolindia.com / www.veedol.comBSE: 590005NSE: VEEDOL
Market Cap₹ 2,486 Cr.
Current Price
High / Low₹ 2,035 / 1,238
Stock P/E17.1
Book Value₹ 471
Price to Book2.66
Dividend Yield4.07 %
ROCE18.8 %
ROE17.5 %
Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2012 • Lubricants: 99.8% • Wind Power: 0.2%

AI Sector View

AI GENERATED

Oil Gas & Consumable Fuels

Reduce

Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.

Confidence
78%
View full sector analysis →

PROS

  • Company is almost debt free
  • Latest quarter profit grew 60.7% YoY, showing strong momentum
  • Company has a consistent dividend-paying track record
  • Company generates healthy free cash flow
  • Offers a healthy dividend yield of 4.1%

CONS

  • A large part of profit comes from other income (81.1% of PBT)
  • Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.41x)
  • Effective tax rate is unusually low at 5.1% - earnings may be flattered
  • Company has delivered a poor profit growth of 2.8% over past five years
  • Operating margins have contracted to 3.2% from 7.5%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Oil Gas & Consumable FuelsAutomobile & AncillariesLubricants
Part ofNIFTY 50NIFTY 500NIFTY LARGEMIDCAP 250NIFTY 100NIFTY 200
S.No.Name
1.CASTROLIND187.9517.5018590.564.66347.7042.501871.4725.0361.8226.41
2.GULFOILLUB1060.6014.025255.864.81120.8426.961327.2130.5726.4112.49
3.SOTL716.0511.864909.270.70288.06414.801479.7650.6515.1824.59
4.PANAMAPET482.956.102921.540.62308.91624.801735.15150.3019.5822.35
5.GANDHAR272.708.862669.170.28205.89689.151731.9391.8114.9916.24
6.VEEDOL1426.8011.312486.064.0777.9256.88608.5718.4924.7017.48
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
383381404388378364386398373352395428392
361363381359360345368363359341379414380
Operating Profit22182329181918341310161312
OPM %5.74%4.69%5.60%7.51%4.77%5.26%4.69%8.65%3.56%2.93%4.05%3.15%3.14%
14111318201417201327383818
Interest0000111111010
Depreciation2222476666665
Profit before Tax33263345342528472031484430
Tax %20.51%20.46%20.48%17.05%20.63%21.53%-18.46%5.11%17.31%15.31%8.20%-10.77%12.97%
Net Profit26212637272034451626444926
15.5012.3415.4521.8715.7611.4719.7826.479.5915.5225.6828.7415.40

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
9621,0741,1931,1271,0511,2481,4921,5571,5271,5471,566
8309491,0721,0079261,1451,4111,4641,4391,4941,514
Operating Profit1311251211211261038193885352
OPM %13.65%11.66%10.15%10.70%11.95%8.23%5.46%5.95%5.77%3.43%3.33%
293035334246365672115121
Interest11112111322
Depreciation788910111010222423
Profit before Tax151147147143156136106137134142153
Tax %31.85%33.86%34.19%25.87%24.65%21.85%19.97%19.36%7.06%5.14%5.12%
Net Profit103979710611710785111125135145
EPS0.000.000.000.0069.1162.7249.9565.1373.4679.51—
Dividend Payout %49.55%61.38%82.61%80.39%86.85%87.72%84.11%79.84%73.51%72.95%—

COMPOUNDED SALES GROWTH

10 Years:
5%
5 Years:
8%
3 Years:
1%

COMPOUNDED PROFIT GROWTH

10 Years:
5%
5 Years:
3%
3 Years:
17%

STOCK PRICE CAGR

10 Years:
—
5 Years:
—
3 Years:
—
1 Year:
-18%

RETURN ON EQUITY

10 Years:
16%
5 Years:
16%
3 Years:
17%
Last Year:
18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2021

Jul 26

1:1

Audited Results & Stock Split & Final Dividend & Bonus issue

2016

Mar 16

1:1

Quarterly Results & Bonus issue & Stock Split

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital2222233333
627654645671702668681709746791
20202022212226213526
Trade Payables1341471431271551501559898119
106470518562491526550630448304
Total Liabilities8881,2931,3281,3841,3711,3691,4141,4611,3301,243
97103110120118113108103137132
Capital Work in Progress0312111723
212215215217215215215215215215
186167167180263252270245287265
0000000143187183
Cash & Bank1461701531961791431471914154
247634681670595645673729488290
Total Assets8881,2931,3281,3841,3711,3691,4141,4611,3301,243

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
100155135157761077595-2891
Cash from Investing16-86-6-43444731-37129135
Cash from Financing-56-71-105-76-84-138-68-85-98-122
1-55-2919-1218-27-4105

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
64.2964.2964.2962.3564.5864.5864.5864.58
1.711.461.261.141.371.171.061.02
1.241.281.171.171.171.171.171.17
Government0.000.000.000.000.000.000.000.00
32.7732.9833.2835.3332.8733.0833.1933.23

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-25
Shareholders meeting

2026-08-25 - Veedol Corporation Limited has submitted the Exchange the E-Voting Results of the 103rd Annual General Meeting of the Company, along with Scrutinizer's Report.

2026-08-24
Shareholders meeting

2026-08-24 - Veedol Corporation Limited has informed the Exchange regarding Proceedings of 103rd Annual General Meeting held on August 24, 2026, through VC / OAVM.

2026-08-20
Copy of Newspaper Publication

2026-08-20 - Veedol Corporation Limited has informed the Exchange about Copy of Newspaper Publication in respect of dispatch of Postal Ballot Notice to the shareholders of the Company.

2026-08-19
Shareholders meeting

2026-08-19 - Veedol Corporation Limited has informed the Exchange regarding Postal Ballot Notice dated 15th August, 2026.

2026-08-18
Disclosure under SEBI Takeover Regulations

2026-08-18 - Standard Greases & Specialities Pvt Ltd has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition made in reliance upon exemption provided for in regulation 10 of SEBI (SAST) Regulations, 2011.

2026-08-15
General Updates

2026-08-15 - Veedol Corporation Limited has informed the Exchange about circulation of Postal Ballot Notice in relation to obtaining approval of shareholders for Material Related Party Transactions with Standard Grease and Technologies Private Limited.

2026-08-13
Resignation of Director/KMP/SMP

2026-08-13 - Veedol Corporation Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-12
Resignation of Director/KMP/SMP

2026-08-12 - Veedol Corporation Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-12
Resignation of Director/KMP/SMP

2026-08-12 - Veedol Corporation Limited has informed the Exchange about Resignation of Director/KMP/SMP

News

Recent coverage and analyst commentary for VEEDOL

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