Tide Water Oil Co. (India) Limited

NSE: TIDEWATER · Oil Refining & Marketing

Snapshot

Unlock Tide Water Oil Co. (India) Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Tide Water Oil Co. (India) Limited manufactures and markets a comprehensive range of automotive and industrial lubricants under the Veedol brand. The company also operates in the renewable energy sector through wind power generation.

Business Model

The company generates revenue by selling lubricants through an extensive distribution network comprising approximately 500 direct distributors and 50,000 retail outlets. It also derives income from the sale of wind-generated electricity.

  • Direct Distributors:500
  • Retail Outlets/Workshops:50,000

Growth Outlook

Growth is driven by the expansion of the Veedol brand across automotive and industrial segments, supported by a robust pan-India distribution network. The company continues to leverage its long-standing market presence since 1921 to capture demand in both domestic and international markets.

Key Risks

  • Raw Material Price Volatility. Fluctuations in global crude oil prices directly impact the cost of base oils, which are the primary raw materials for lubricant production.
  • Intense Market Competition. The lubricants industry is highly competitive, featuring both large multinational corporations and numerous domestic players, which may pressure margins.
  • Regulatory and Environmental Risks. Stricter environmental regulations regarding emissions and waste oil disposal could increase operational compliance costs.
  • Technological Shift. The transition toward electric vehicles may reduce the long-term demand for traditional internal combustion engine lubricants.

Price

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Key Metrics

REVENUE

₹2,168 Cr

TTM · consolidated

+10.1%YoY

NET PROFIT

₹192 Cr

TTM · consolidated

+13.6%YoY

EPS

₹112.76

TTM · consolidated

+13.6%YoY

RETURN ON EQUITY

20.3%

TTM · consolidated

+0.4 ppYoY

RETURN ON CAPITAL EMPLOYED

20.7%

TTM · consolidated

+1.2 ppYoY

EV/EBITDA

9.6x

Q4 FY26 · consolidated

9.6 vs 14.9x5Y avg

EBITDA MARGIN

11.3%

TTM · consolidated

+0.5 ppYoY

NET PROFIT MARGIN

9.5%

Q4 FY26 · consolidated

-1.7 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · consolidated

+0.00xYoY

Peers · Oil Refining & Marketing

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Tide Water Oil Co. (India) LimitedTIDEWATER
2,5149.5910.1%11.3%20.3%20.7%
Gulf Oil Lubricants India LimitedGULFOILLUB
4,59211.455.8839.7%15.0%29.7%40.4%-18.1%
Veedol CorporatVEEDOL
2,28412.859.3810.1%11.3%20.3%20.7%-14.6%
Savita Oil TechSOTL
2,27921.8813.2414.4%6.7%10.7%15.3%+36.1%
Panama PetrochemPANAMAPET
1,56112.138.969.7%9.4%16.2%20.3%+19.5%
Gandhar Oil Ref.GANDHAR
1,26215.258.908.4%5.9%10.8%14.7%+23.1%

As of Q4 FY26

Financials