Veedol Corporation Ltd
NSE: VEEDOL · Lubricants · sector
₹1,274.40NSE close 2026-10-26
Key numbers
Market cap₹2,166 cr
Price₹1,274.40
52w high / low₹1,858 / ₹1,238
P/E9.8xSector median 10.6x
P/B2.1xSector median 2.1x
Book value₹609.2
Dividend yield4.67%Sector median 0.64%
ROE22.6%Sector median 23.5%
ROCE23.9%Sector median 28.5%
OPM11.7%Sector median 11.2%
Debt / equity0.00xSector median 0.05x
EV/EBITDA7.4xSector median 7.9x
Interest cover111.6x
Current ratio3.02x
Sales growth 3y+5.4%Sector median +6.3%
Profit growth 3y+18.7%Sector median +1.7%
PEG0.53x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 8 companies in Lubricants (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹205 cr vs borrowings ₹0 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 111.6x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 3 of the last 5 years (FY25, FY23, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 8% of net profit in the last 12 months.
- Debtor days went from 44 (FY24) to 58 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹1,274.40 on 2026-10-26: -31.4% from the 52-week high, +2.9% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹2,346.45 · low ₹1,274.40
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 476 | 482 | 532 | 514 | 509 | 538 | 607 | 609 |
| EBITDA | 46 | 32 | 68 | 59 | 53 | 52 | 63 | 98 |
| OPM % | 9.7% | 6.5% | 12.7% | 11.4% | 10.4% | 9.6% | 10.3% | 16.1% |
| Other income | 3 | 5 | 4 | 6 | 4 | 5 | 4 | 4 |
| Net profit | 35 | 37 | 60 | 50 | 41 | 44 | 57 | 78 |
| EPS (₹) | 20.36 | 21.97 | 35.12 | 29.23 | 24.09 | 25.63 | 33.81 | 45.85 |
| Revenue YoY | +6.9% | +11.5% | +14.1% | +18.5% | ||||
| Profit YoY | +18.3% | +16.6% | -3.8% | +56.9% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,536 | 1,854 | 1,931 | 1,970 | 2,169 | 2,263 |
| EBITDA | 147 | 142 | 169 | 188 | 227 | 265 |
| Net profit | 123 | 114 | 143 | 169 | 192 | 220 |
| EPS (₹) | 72.32 | 67.37 | 84.10 | 99.29 | 112.75 | 129.38 |
| Revenue growth | +20.7% | +4.2% | +2.0% | +10.1% | +12.9% | |
| Profit growth | -6.9% | +24.8% | +18.1% | +13.6% | +21.3% | |
| Dividend / share (₹) | 240.00 | 42.00 | 47.00 | 52.00 | 58.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +5.4% | +11.5% | +12.9% |
| Net profit | +18.7% | +6.3% | +21.3% |
| EPS | +18.7% | -23.0% | – |
| Share price | – | -18.7% (2y) | -27.5% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 764 | 827 | 914 | 1,036 |
| Borrowings | – | 4 | 0 | 0 | 0 |
| Cash & equivalents | – | 163 | 41 | 45 | 205 |
| Total assets | – | 1,098 | 1,156 | 1,253 | 1,406 |
| Fixed assets | – | 149 | 171 | 207 | 221 |
| Capital work in progress | – | 1 | 10 | 7 | 7 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 237 | 231 | 290 | 345 |
| Inventory | – | 304 | 279 | 333 | 325 |
| Payables | – | 215 | 221 | 166 | 206 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 93 | 103 | 156 | 30 | 194 |
| Cash from investing | 37 | 6 | -92 | 72 | 47 |
| Cash from financing | -142 | -81 | -85 | -99 | -122 |
| Capex | 9 | 15 | 47 | 42 | 35 |
| Free cash flow | 85 | 88 | 108 | -12 | 159 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 15.0% | 17.3% | 18.5% | 18.5% |
| ROCE % | – | 18.4% | 21.2% | 19.4% | 20.3% |
| Debtor days | – | 47 | 44 | 54 | 58 |
| Inventory days | – | 90 | 84 | 104 | 93 |
| Payable days | – | 63 | 67 | 52 | 59 |
| Cash conversion cycle (days) | – | 74 | 61 | 106 | 92 |
| Working capital days | – | 91 | 94 | 102 | 106 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 64.58% |
| FIIs | 1.01% |
| DIIs | 1.16% |
| of which Insurance | 1.12% |
| Public (non-institutions) | 30.78% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 64.29% | 64.29% | 62.35% | 64.58% | 64.58% | 64.58% | 64.58% | 64.58% |
| Promoter group | % |
|---|---|
| Standard Greases and Specialities Private Limited | 40.29% |
| Andrew Yule & Company Limited | 24.30% |
| Public holders above 1% | % |
|---|---|
| Tide Water Oil Company (India) Limited Employee Benefit Trust | 2.46% |
| Lici ASM NON PAR | 1.12% |
54,588 shareholders. Pledged: 0.00% of promoter shares.
Peers in Lubricants
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| CASTROLIND | ₹18,870 cr | 17.8x | 9.9x | 57.0% | 75.8% | 24.0% | – | – |
| GULFOILLUB | ₹5,201 cr | 13.8x | 3.4x | 25.0% | 27.3% | 12.1% | +10.6% | 4.64% |
| SOTL | ₹4,723 cr | 11.4x | 2.6x | 23.8% | 31.8% | 10.7% | +6.3% | 0.58% |
| GANDHAR | ₹2,939 cr | 9.8x | 2.2x | 23.3% | 29.8% | 9.3% | – | 0.41% |
| PANAMAPET | ₹2,817 cr | 5.9x | 1.9x | 35.2% | 39.2% | 14.8% | +10.9% | 0.64% |
| VEEDOL | ₹2,166 cr | 9.8x | 2.1x | 22.6% | 23.9% | 11.7% | +5.4% | 4.67% |
| GULFPETRO | ₹333 cr | 8.2x | 0.9x | 11.9% | 15.1% | 7.6% | -6.7% | – |
| GVL | ₹43 cr | 57.2x | 0.5x | 1.6% | 1.8% | 8.9% | – | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-17 | Dividend | Dividend - Rs 22 Per Share |
| 2026-02-06 | Dividend | Interim Dividend - Rs 14 Per Share |
| 2025-11-14 | Dividend | Interim Dividend - Rs 22 Per Share |
| 2025-07-07 | Dividend | Dividend - Rs 22 Per Share |
| 2025-02-13 | Dividend | Interim Dividend - Rs 12 Per Share |
| 2024-11-22 | Dividend | Interim Dividend - Rs 20 Per Share |
| 2024-07-04 | Dividend | Dividend - Rs 20 Per Share |
| 2024-02-22 | Dividend | Interim Dividend - Rs 12 Per Share |
| 2023-11-21 | Dividend | Interim Dividend - Rs 20 Per Share |
| 2023-07-04 | Dividend | Dividend - Rs 15 Per Share |
| 2023-02-22 | Dividend | Interim Dividend - Rs 10 Per Share |
| 2022-11-21 | Dividend | Interim Dividend - Rs 12 Per Share |
| 2022-08-22 | Dividend | Interim Dividend - Rs 5 Per Share |
| 2022-07-01 | Dividend | Dividend - Rs 15 Per Share |
| 2022-02-21 | Dividend | Interim Dividend - Rs 20 Per Share |
| 2021-11-22 | Dividend | Interim Dividend - Rs 20 Per Share |
| 2021-07-26 | Split | Face Value Split (Sub-Division) - From Rs 5/- Per Share To Re 2/- Per Share |
| 2021-07-26 | Bonus | Bonus 1:1 |
| 2021-07-19 | Dividend | Dividend - Rs 200 Per Share |
| 2020-11-23 | Dividend | Interim Dividend - Rs 100 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing and selling: Lubricating Oils and Greases
| Sector | Energy |
| Industry | Lubricants |
| Sub-industry | Lubricants |
| Symbol | VEEDOL |
| BSE code | 590005 |
| ISIN | INE484C01030 |
| Face value | ₹2.0 |
| Incorporated | 1921-10-26 |
| Website | www.veedolindia.com |
| Plants (India / abroad) | 5 / 1 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.