Veedol Corporation Limited (VEEDOL)

Loading page…

Veedol Corporation Limited (VEEDOL) · mywealthgrid

About

Veedol Corporation Limited operates in lubricants, a key segment of the petroleum products industry. With a market cap of ₹2,632.45 Cr and zero debt, the company has generated ROE of 19.66% and maintained regular dividend distributions.

Face value: ₹2

Market cap

₹2,360 Cr

P/E

10.7×

P/B

2.2×

Dividend yield

4.3%

ROE

19.7%

ROCE

20.2%

Debt / equity

OPM

10.5%

EPS (TTM)

₹129.3

Book value

₹609.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins highly volatile across recent quarters (2.93% to 16.12% OPM) — verify what drives this volatility and whether recent strength is sustainable
Stock down 23% from 52-week high (₹1,982.6 to ₹1,512.9 currently) with −7.98% annual return — verify if driven by company-specific factors or sector weakness
64.58% promoter holding with FII+DII at just 2.18% suggests limited institutional investor base — verify if this reflects market indifference or liquidity constraints
Lubricant demand correlated with vehicle and machinery production cycles — verify current trend in India's automotive and industrial activity

Generated analysis · source review pending

Growth drivers

Zero debt (D/E = 0) enables capital deployment for growth investments or enhanced shareholder returns
ROE of 19.66% indicates capital efficiency — verify if the company is reinvesting earnings to expand the equity base and sustain returns
Jun 2026 quarter delivered ₹77.92 Cr net profit with 16.12% OPM — verify if this profitability level reflects structural improvement or cyclical strength
Six dividend payments in the past year evidence consistent cash generation — verify whether earnings growth can fund growth capex alongside dividend distributions

Generated analysis · source review pending

1,279 historical price candles were omitted because the exchange source has not been verified.

₹1,356.6+0%1Y

Quick read

rule-based

Pros

+Strong return on equity of 19% (3-yr avg)
+High return on capital employed of 20.2%
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 88.1×
+Dividend yield of 4.3%
+Dividend payout of 45.9% of profit
+High promoter holding of 64.6% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

74/100

Business quality: 66
Growth: 66

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,137	1,300	1,312	1,379	1,317	1,258	1,536	1,854	1,931	1,970	2,169
COGS	561	640	747	820	720	697	972	1,235	1,214	1,173	1,275
Gross profit	576	660	565	559	597	562	564	618	717	798	894
	462	525	426	429	443	382	406	469	535	576	637
	113	136	139	131	154	180	158	149	182	222	257
OPM %	10%	10.4%	10.6%	9.5%	11.7%	14.3%	10.3%	8%	9.4%	11.3%	11.9%
Depreciation	7	9	9	10	12	14	15	16	15	29	34
Interest	1	3	3	2	2	2	2	1	2	4	2
	24	30	23	21	23	22	20	15	22	12	18
Profit before tax	—	159	159	149	161	185	160	147	187	202	238
Tax	50	51	53	52	39	44	37	33	44	33	47
Tax %	—	31.9%	33%	35.1%	24.4%	23.8%	23.2%	22.2%	23.6%	16.3%	19.6%
	79	108	107	97	122	141	123	114	143	169	192
PAT margin %	6.9%	8.3%	8.1%	7%	9.3%	11.2%	8%	6.2%	7.4%	8.6%	8.8%
EPS (₹)	248.1	318.5	314.3	285.3	359.1	415.8	72.3	67.4	84.1	99.3	112.8
EPS adjusted (₹)	—	63.7	62.9	57	71.8	81.2	70.6	67.4	84.1	99.3	112.7
	95.7%	47.1%	55.7%	82.4%	69.6%	72.2%	76.1%	62.3%	61.8%	54.4%	51.4%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	2	2	2	2	2	3	3	3	3	3
Reserves	611	649	638	679	735	716	760	824	911	1,032
	29	42	39	35	17	13	4	0	0	0
	255	256	249	251	287	303	330	329	339	370
Total equity & liabilities	897	949	928	967	1,040	1,036	1,098	1,156	1,253	1,406
	230	242	247	256	275	269	270	293	336	348
CWIP	0	3	2	12	4	3	1	10	7	7
Investments	65	1	0	0	76	71	71	74	82	86
	601	703	679	699	686	692	756	779	827	965
Total assets	897	949	928	967	1,040	1,036	1,098	1,156	1,253	1,406

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	40.6%	45.3%	44.6%	36.7%	33.4%	37.1%	40.5%	41.2%
EBITDA margin %	9.5%	10.5%	13%	9.6%	7.7%	8.8%	9.9%	10.5%
EBIT margin %	8.7%	9.5%	11.9%	8.6%	6.8%	8%	8.4%	8.9%
PAT margin %	7%	9.3%	11.2%	8%	6.2%	7.4%	8.6%	8.8%
Working capital
Receivable days	52	42	47	50	47	44	54	58
Inventory days	84	102	150	109	90	84	104	93
Payable days	80	87	107	79	63	67	52	59
NWC days	56	56	90	80	73	61	106	92
Leverage
Current ratio	2.5	2.63	2.72	2.62	2.64	2.82	3.09	3.02
Debt to EBITDA	0.3	0.25	0.1	0.09	0.03	0	0	0
Debt to equity	0.06	0.05	0.02	0.02	0.01	0	0	0
Interest coverage	57.2	62.3	71.5	94.6	95	98.1	51.9	88.1
Asset turnover	1.49	1.36	1.21	1.48	1.69	1.67	1.57	1.54
Return ratios
Return on assets %	10.4%	12.6%	13.6%	11.9%	10.4%	12.4%	13.5%	13.6%
Return on capital employed %	20.4%	20.7%	22.6%	19.4%	17.8%	20.7%	19.7%	20.2%
Return on equity %	15.2%	17.9%	19.2%	17.1%	15%	17.3%	18.5%	18.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	57.28%	62.27%	62.27%	64.15%	64.29%	64.29%	64.29%	62.35%	64.58%	64.58%	64.58%	64.58%
	0.96%	1.38%	1.51%	1.97%	1.71%	1.46%	1.26%	1.14%	1.37%	1.17%	1.06%	1.02%
	2.12%	1.27%	1.23%	1.23%	1.24%	1.28%	1.17%	1.17%	1.17%	1.17%	1.17%	1.16%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	37.18%	32.62%	32.53%	30.19%	30.3%	30.51%	30.82%	32.88%	30.41%	30.61%	30.72%	30.77%
No. of shareholders	—	—	—	—	—	—	—	—	56,831	56,211	55,526	54,979

Promoter holding up 7.3 percentage points since Sep 2023.

2 disclosures

Person	Deal	Shares	Value	Holding	Filed
STANDARD GREASES & SPECIALITIES PRIVATE LIMITEDPromoters	BuyMarket Purchase	45,742	₹9 cr	38.33% → 38.59%	20 Sept 20257(2)
STANDARD GREASES & SPECIALITIES PRIVATE LIMITEDPromoters	BuyMarket Purchase	3,43,500	₹66.23 cr

3 deals · 15 Sept 2025 – 15 Sept 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
15 Sept 2025	STANDARD GREASES AND SPECIALITIES PRIVATE LIMITED	Bulk	NSE	Buy	3,42,800	₹1,928.12	₹66.10 Cr
15 Sept 2025	J R SPECIALITY CHEMICALS PRIVATE LIMITED	Bulk	NSE	Sell	1,56,500	₹1,931.26	₹30.22 Cr
15 Sept 2025	J R SPECIALITY CHEMICALS PRIVATE LIMITED	Bulk	NSE	Buy	2,000	₹1,962.67	₹0.39 Cr

1–3 of 3

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. DURGESH SANJIVRAO CHANDAVARKARNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. SUBIR DASNon-Executive - Independent Director
Mr. Rajendra Nath GhosalExecutive Director
Mrs. BHARATHI SIVASWAMI SIHAGNon-Executive - Independent Director
Mr. PRAVEEN PURUSHOTTAM KADLENon-Executive - Independent Director
Mr. VINOD SOMALAL VYASNon-Executive - Non Independent Director
Mr. ANANTA MOHAN SINGHNon-Executive - Non Independent Director
Mr. NITIN RAMESH GOKARNNon-Executive - Independent Director
Mr. KISHORE MUKUND SALETORENon-Executive - Independent Director
Mr. KULBHUSHAN MALHOTRANon-Executive - Non Independent Director
Mr. Upendra Gadre

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Veedol Corporation Limited. Portfolios are published monthly by each AMC; coverage is still partial.

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

23 announcementsExport CSV

28 Sept 2026, 3:28 pmBoard Meeting

Board Meeting Outcome for Outcome Of 356Th Board Meeting

Outcome of Board Meeting

Loading announcements…

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	40.6%	45.3%	44.6%	36.7%	33.4%	37.1%	40.5%	41.2%
EBITDA margin %	9.5%	10.5%	13%	9.6%	7.7%	8.8%	9.9%	10.5%
EBIT margin %	8.7%	9.5%	11.9%	8.6%	6.8%	8%	8.4%	8.9%
PAT margin %	7%	9.3%	11.2%	8%	6.2%	7.4%	8.6%	8.8%
Working capital
Receivable days	52	42	47	50	47	44	54	58
Inventory days	84	102	150	109	90	84	104	93
Payable days	80	87	107	79	63	67	52	59
NWC days	56	56	90	80	73	61	106	92
Leverage
Current ratio	2.5	2.63	2.72	2.62	2.64	2.82	3.09	3.02
Debt to EBITDA	0.3	0.25	0.1	0.09	0.03	0	0	0
Debt to equity	0.06	0.05	0.02	0.02	0.01	0	0	0
Interest coverage	57.2	62.3	71.5	94.6	95	98.1	51.9	88.1
Asset turnover	1.49	1.36	1.21	1.48	1.69	1.67	1.57	1.54
Return ratios
Return on assets %	10.4%	12.6%	13.6%	11.9%	10.4%	12.4%	13.5%	13.6%
Return on capital employed %	20.4%	20.7%	22.6%	19.4%	17.8%	20.7%	19.7%	20.2%
Return on equity %	15.2%	17.9%	19.2%	17.1%	15%	17.3%	18.5%	18.5%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Castrol India LimitedCASTROLINDCASTROLIND	₹19,687 Cr	₹19,687 Cr	₹6,219 Cr	₹1,514 Cr	23.6%	₹1,062 Cr	16.6%	—	—	—
Gulf Oil Lubricants India LimitedGULFOILLUBGULFOILLUB	₹5,410 Cr	₹5,925 Cr	₹4,367 Cr	₹552 Cr	12.7%	₹375 Cr	8.5%	33.1%	23.2%	38
Savita Oil Technologies LimitedSOTLSOTL	₹5,004 Cr	₹5,004 Cr	₹4,853 Cr	₹521 Cr	5.6%	₹414 Cr	4.2%	15%	10.5%	88
Panama Petrochem LimitedPANAMAPETPANAMAPET	₹2,947 Cr	₹3,025 Cr	₹4,106 Cr	₹609 Cr	9%	₹479 Cr	6.9%	19.5%	15.6%	122
Gandhar Oil Refinery (India) LimitedGANDHARGANDHAR	₹2,767 Cr	₹2,935 Cr	₹5,052 Cr	₹470 Cr	5.5%	₹301 Cr	3.2%	14.4%	10.5%	82
Veedol Corporation LimitedVEEDOLVEEDOL	₹2,360 Cr	₹2,360 Cr	₹2,263 Cr	₹265 Cr	10.5%	₹220 Cr	8.8%	20.2%	19.7%	92
Gp Petroleums LimitedGULFPETROGULFPETRO	₹318 Cr	₹338 Cr	₹643 Cr	₹39 Cr	6.1%	₹26 Cr	4.1%	11.5%	7.7%	124
Greenhitech Ventures LtdGVLGVL	₹52 Cr	—	₹19 Cr	₹2 Cr	11.5%	₹1 Cr	6.8%	—	—	—

Date	Category	Subject	Filing
28 Sept 2026, 3:28 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Outcome Of 356Th Board Meeting	PDF
22 Sept 2026, 11:45 am	Company Update General	Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015, As Amended	PDF
21 Sept 2026, 5:15 pm	AGM/EGM Postal Ballot	Veedol Corporation Ltd - 590005 - Shareholder Meeting / Postal Ballot-Scrutinizer"s Report	PDF
21 Sept 2026, 3:51 pm	Company Update General	Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015, As Amended - Transcript Of The 103Rd Annual General Meeting (AGM) Of The Company Held On Monday, 24Th August, 2026.	PDF
14 Sept 2026, 12:39 pm	Company Update General	Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015, As Amended - ESG Rating	PDF
25 Aug 2026, 5:48 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
24 Aug 2026, 2:27 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
20 Aug 2026, 1:15 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	127	41	102	79	133	69	93	103	156	30	194
	-7	16	-86	-1	-49	38	37	6	-92	72	47
	-36	-56	-71	-110	-80	-102	-142	-81	-85	-99	-122
Net cash flow	83	1	-55	-31	4	5	-12	28	-22	3	119
Free cash flow	110	34	85	65	101	51	85	88	108	-12	159
CFO / Operating profit %	111.8%	30.3%	73.7%	60.7%	96.2%	42.3%	63.5%	72.8%	92%	15.3%	85.4%

Veedol Corporation Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

40

1

2

Compounded sales growth

Compounded profit growth

Return on equity

Veedol Corporation Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Dividends40

Board meetings1

Stock splits2

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

40

1

2