Declared Dividend • May 23
Dividend of ₹22.00 announced Shareholders will receive a dividend of ₹22.00. Ex-date: 17th July 2026 Payment date: 23rd September 2026 Dividend yield will be 4.1%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 6.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 22
Full year 2026 earnings released: EPS: ₹113 (vs ₹99.30 in FY 2025) Full year 2026 results: EPS: ₹113 (up from ₹99.30 in FY 2025). Revenue: ₹21.9b (up 11% from FY 2025). Net income: ₹1.92b (up 14% from FY 2025). Profit margin: 8.8% (up from 8.6% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 18% per year. Announcement • May 21
Veedol Corporation Limited, Annual General Meeting, Aug 24, 2026 Veedol Corporation Limited, Annual General Meeting, Aug 24, 2026. Announcement • May 11
Veedol Corporation Limited to Report Q4, 2026 Results on May 20, 2026 Veedol Corporation Limited announced that they will report Q4, 2026 results on May 20, 2026 Declared Dividend • Feb 05
Dividend increased to ₹14.00 Dividend of ₹14.00 is 17% higher than last year. Ex-date: 6th February 2026 Payment date: 4th March 2026 Dividend yield will be 3.8%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (51% earnings payout ratio) but not adequately covered by cash flows (91% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 8.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jan 21
Veedol Corporation Limited to Report Q3, 2026 Results on Feb 02, 2026 Veedol Corporation Limited announced that they will report Q3, 2026 results on Feb 02, 2026 Announcement • Jan 16
Veedol Corporation Limited Announces Resignation of Non-Executive and Non-Independent Director Brajesh Kumar Srivastava, Effective January 16, 2026 Veedol Corporation Limited announced that Shri Brajesh Kumar Srivastava, a Non-Executive and Non-Independent Director, has resigned from the services of the company effective from close of business on January 16, 2026. Declared Dividend • Nov 13
Dividend increased to ₹22.00 Dividend of ₹22.00 is 10% higher than last year. Ex-date: 14th November 2025 Payment date: 8th December 2025 Dividend yield will be 3.2%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by both earnings (31% earnings payout ratio) and cash flows (88% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 8.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 11
Second quarter 2026 earnings released: EPS: ₹24.09 (vs ₹20.36 in 2Q 2025) Second quarter 2026 results: EPS: ₹24.09 (up from ₹20.36 in 2Q 2025). Revenue: ₹5.13b (up 7.7% from 2Q 2025). Net income: ₹409.4m (up 18% from 2Q 2025). Profit margin: 8.0% (up from 7.3% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 19% per year. Announcement • Nov 04
Veedol Corporation Limited to Report Q2, 2026 Results on Nov 10, 2025 Veedol Corporation Limited announced that they will report Q2, 2026 results on Nov 10, 2025 Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹1,959, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 27x in the Chemicals industry in India. Total returns to shareholders of 103% over the past three years. Announcement • Aug 09
Veedol Corporation Limited to Report Q1, 2026 Results on Aug 13, 2025 Veedol Corporation Limited announced that they will report Q1, 2026 results on Aug 13, 2025 Reported Earnings • Aug 05
Full year 2025 earnings released: EPS: ₹99.30 (vs ₹84.10 in FY 2024) Full year 2025 results: EPS: ₹99.30 (up from ₹84.10 in FY 2024). Revenue: ₹19.7b (up 2.0% from FY 2024). Net income: ₹1.69b (up 18% from FY 2024). Profit margin: 8.6% (up from 7.4% in FY 2024). Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 12% per year. Upcoming Dividend • Jun 30
Upcoming dividend of ₹22.00 per share Eligible shareholders must have bought the stock before 07 July 2025. Payment date: 26 September 2025. Payout ratio is a comfortable 54% but the company is not cash flow positive. Trailing yield: 3.2%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.7%). Declared Dividend • May 31
Dividend of ₹22.00 announced Shareholders will receive a dividend of ₹22.00. Ex-date: 7th July 2025 Payment date: 26th September 2025 Dividend yield will be 3.2%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (58% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 6.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 29
Veedol Corporation Limited, Annual General Meeting, Aug 27, 2025 Veedol Corporation Limited, Annual General Meeting, Aug 27, 2025. Reported Earnings • May 29
Full year 2025 earnings released: EPS: ₹99.29 (vs ₹84.10 in FY 2024) Full year 2025 results: EPS: ₹99.29 (up from ₹84.10 in FY 2024). Revenue: ₹19.9b (up 3.0% from FY 2024). Net income: ₹1.69b (up 18% from FY 2024). Profit margin: 8.5% (up from 7.4% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 16% per year. Announcement • May 14
Veedol Corporation Limited to Report Q4, 2025 Results on May 28, 2025 Veedol Corporation Limited announced that they will report Q4, 2025 results on May 28, 2025 Declared Dividend • Feb 07
Dividend of ₹12.00 announced Dividend of ₹12.00 is the same as last year. Ex-date: 13th February 2025 Payment date: 7th March 2025 Dividend yield will be 3.2%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (60% earnings payout ratio) but not covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 6.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 05
Veedol Corporation Limited Declares Second Interim Dividend for the Financial Year 2024-2025, Payable within 7th March, 2025 Veedol Corporation Limited declared Second Interim Dividend of 600% (INR 12 per ordinary share of face value of INR 2/- each) for the financial year 2024-2025, at its Board of Directors meeting held on 5th February, 2025. Determined 13th February, 2025, as the record date for the purpose of the aforesaid 2nd Interim Dividend distribution. Dividend shall be paid within 30 days of from the date of declaration (i.e. within 7th March, 2025). Announcement • Jan 28
Veedol Corporation Limited to Report Q3, 2025 Results on Feb 05, 2025 Veedol Corporation Limited announced that they will report Q3, 2025 results on Feb 05, 2025 Reported Earnings • Nov 15
Second quarter 2025 earnings released: EPS: ₹20.36 (vs ₹20.73 in 2Q 2024) Second quarter 2025 results: EPS: ₹20.36 (down from ₹20.73 in 2Q 2024). Revenue: ₹4.80b (up 1.1% from 2Q 2024). Net income: ₹346.0m (down 1.8% from 2Q 2024). Profit margin: 7.2% (down from 7.4% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 3% per year. Declared Dividend • Nov 14
Dividend of ₹20.00 announced Shareholders will receive a dividend of ₹20.00. Ex-date: 22nd November 2024 Payment date: 10th December 2024 Dividend yield will be 2.9%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by both earnings (62% earnings payout ratio) and cash flows (82% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 8.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Oct 30
Veedol Corporation Limited to Report Q2, 2025 Results on Nov 12, 2024 Veedol Corporation Limited announced that they will report Q2, 2025 results on Nov 12, 2024 Announcement • Aug 12
Tide Water Oil Co. (India) Limited to Report Q1, 2025 Results on Aug 13, 2024 Tide Water Oil Co. (India) Limited announced that they will report Q1, 2025 results at 3:30 PM, Indian Standard Time on Aug 13, 2024 Reported Earnings • Aug 02
Full year 2024 earnings released: EPS: ₹84.10 (vs ₹67.42 in FY 2023) Full year 2024 results: EPS: ₹84.10 (up from ₹67.42 in FY 2023). Revenue: ₹19.3b (up 4.2% from FY 2023). Net income: ₹1.43b (up 25% from FY 2023). Profit margin: 7.4% (up from 6.2% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has remained flat. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹2,628, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 35x in the Chemicals industry in India. Total loss to shareholders of 5.3% over the past three years. Buy Or Sell Opportunity • Jul 01
Now 41% overvalued after recent price rise Over the last 90 days, the stock has risen 56% to ₹2,374. The fair value is estimated to be ₹1,689, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 2.8%. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹2,291, the stock trades at a trailing P/E ratio of 27.3x. Average trailing P/E is 34x in the Chemicals industry in India. Total loss to shareholders of 2.8% over the past three years. Upcoming Dividend • Jun 27
Upcoming dividend of ₹20.00 per share Eligible shareholders must have bought the stock before 04 July 2024. Payment date: 22 September 2024. Payout ratio is a comfortable 62% and the cash payout ratio is 76%. Trailing yield: 2.4%. Within top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (0.7%). Buy Or Sell Opportunity • Jun 24
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 45% to ₹2,051. The fair value is estimated to be ₹1,682, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 2.8%. Announcement • May 23
Tide Water Oil Co. (India) Limited, Annual General Meeting, Aug 23, 2024 Tide Water Oil Co. (India) Limited, Annual General Meeting, Aug 23, 2024. Declared Dividend • May 22
Dividend of ₹20.00 announced Shareholders will receive a dividend of ₹20.00. Ex-date: 4th July 2024 Payment date: 22nd September 2024 Dividend yield will be 2.7%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by both earnings (59% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 7.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 19
Full year 2024 earnings released: EPS: ₹84.10 (vs ₹67.37 in FY 2023) Full year 2024 results: EPS: ₹84.10 (up from ₹67.37 in FY 2023). Revenue: ₹19.5b (up 5.4% from FY 2023). Net income: ₹1.43b (up 25% from FY 2023). Profit margin: 7.3% (up from 6.2% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • May 14
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to ₹1,890. The fair value is estimated to be ₹1,534, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 4.4%. Announcement • May 05
Tide Water Oil Co. (India) Limited to Report Q4, 2024 Results on May 18, 2024 Tide Water Oil Co. (India) Limited announced that they will report Q4, 2024 results at 3:30 PM, Indian Standard Time on May 18, 2024 Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹1,609, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 29x in the Chemicals industry in India. Total returns to shareholders of 105% over the past three years. Announcement • Mar 15
Tide Water Oil Co. (India) Limited Appoints Sanjeev Wangoo as Executive Director - Group Supply Chain and Procurement, Effective April 22, 2024 The Board of Directors of Tide Water Oil Co. (India) Limited has appointed Shri Sanjeev Wangoo as Executive Director - Group Supply Chain and Procurement (Senior Management Personnel) with effect from 22nd April, 2024. Shri Sanjeev Wangoo is a highly experienced Manufacturing & Supply Chain Manager. He has approximately 30 years of industry experience with more than 15 years in leadership role. He holds a Bachelor's Degree in Industrial Engineering and a Master's Degree in Industrial Business. He has worked in companies like Shell, Coca Cola and Huntsman and presently working in the capacity of Chief Manufacturing and Supply Chain Officer APAC for Motul Asia Pacific Pte Ltd, Singapore. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹1,778, the stock trades at a trailing P/E ratio of 22.5x. Average trailing P/E is 31x in the Chemicals industry in India. Total returns to shareholders of 127% over the past three years. Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: ₹19.75 (vs ₹15.27 in 3Q 2023) Third quarter 2024 results: EPS: ₹19.75 (up from ₹15.27 in 3Q 2023). Revenue: ₹5.00b (flat on 3Q 2023). Net income: ₹335.6m (up 29% from 3Q 2023). Profit margin: 6.7% (up from 5.2% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Announcement • Jan 31
Tide Water Oil Co. (India) Limited to Report Q3, 2024 Results on Feb 13, 2024 Tide Water Oil Co. (India) Limited announced that they will report Q3, 2024 results on Feb 13, 2024 Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,614, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 30x in the Chemicals industry in India. Total returns to shareholders of 105% over the past three years. Announcement • Jan 09
Tide Water Oil Co. (India) Limited Announces Resignation of Rajinder Singh Manku as Director Tide Water Oil Co. (India) Limited announced that Shri Rajinder Singh Manku, Non-Executive and Non-Independent Director of the Company has tendered his resignation with effect from 9th January, 2024 vide his letter of even date as received by us on 9th January, 2024. Please note that the resignation tendered is subject to noting of the same by the Board of Directors of the Company at its ensuing meeting. Reported Earnings • Nov 14
Second quarter 2024 earnings released: EPS: ₹20.73 (vs ₹12.02 in 2Q 2023) Second quarter 2024 results: EPS: ₹20.73 (up from ₹12.02 in 2Q 2023). Revenue: ₹4.79b (up 7.0% from 2Q 2023). Net income: ₹352.2m (up 72% from 2Q 2023). Profit margin: 7.3% (up from 4.6% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Oct 31
Tide Water Oil Co. (India) Limited to Report Q2, 2024 Results on Nov 11, 2023 Tide Water Oil Co. (India) Limited announced that they will report Q2, 2024 results at 3:30 PM, Indian Standard Time on Nov 11, 2023 Announcement • Sep 13
Tide Water Oil Co. (India) Limited Announces Appointment of D. S. Chandavarkar as Chairman of the Board Tide Water Oil Co. (India) Limited announced Appointment of Shri D. S. Chandavarkar, Director in Additional charge of office as the Chairman of the Board of Directors along with current designation as Non-Executive and Non-Independent Director, with effect from 11th September, 2023 till the conclusion of 101st Annual General Meeting of the Company. Shri D. S. Chandavarkar has given a certificate stating that he is not debarred from holding the office of Chairman of the Board of Directors pursuant to any SEBI order. This has beenconsidered and noted while passing the resolution of appointment of Shri D. S. Chandavarkar as a Director of the Company. Shri. Durgesh Chandavarkar-an industrialist, an astute banker, a benevolent philanthropist, a visionary and above all, a compassionate human being Shri Chandavarkar having experience of over 40 years, is the Chairman & Managing Director of Standard Greases & Specialities Private Limited and Geotic Company Limited, Chairman of Royal Castor Products Limited, Director of Astrum Healthcare Private Limited, Standard Oils & Greases Private Limited, Tide Water Oil Co. (India) Ltd., Veedol International Limited based in United Kingdom, Director - Tarapur Grease Industries Private Limited, Director - Atlantic Lubricants & Specialities Pvt. Ltd. which is a joint venture with Motul France. Board of Director of SVC Co-operative Bank Ltd. From June 2018 and Chairman during the period July 24,2019 till date. Shri Chandavarkar is actively involved in various Community Social Responsibility (CSR) projects through Charitable institutions. Announcement • Sep 02
Tide Water Oil Co. (India) Limited Announces the Resignation of Sanjoy Bhattacharya as Non-Executive and Non-Independent Director / Chairman of the Board of Directors Tide Water Oil Co. (India) Limited announced that Shri Sanjoy Bhattacharya, Non-Executive and Non-Independent Director /Chairman of the Board of Directors, related to the Promoter of the Company has tendered his resignation with effect from the close of business on August 31, 2023 vide his letter of even date as received by the company on September 1, 2023. Announcement • Aug 12
Tide Water Oil Co. (India) Limited Announces Appointment of Smt. Rashmi Joshi as Executive Director - Finance & Accounts, Effective August 21, 2023 Tide Water Oil Co. (India) Limited at its board meeting held on August 11, 2023, approved appointment of Smt. Rashmi Joshi as Executive Director - Finance & Accounts (Senior Management Personnel) with effect from 21st August, 2023. Smt. Rashmi Joshi is a qualified Chartered Accountant and Company Secretary. She is having more than 30 years of industry experience and was associated with various companies of repute. Announcement • Jul 29
Tide Water Oil Co. (India) Limited to Report Q1, 2024 Results on Aug 11, 2023 Tide Water Oil Co. (India) Limited announced that they will report Q1, 2024 results on Aug 11, 2023 Reported Earnings • Jul 28
Full year 2023 earnings released: EPS: ₹67.37 (vs ₹72.32 in FY 2022) Full year 2023 results: EPS: ₹67.37 (down from ₹72.32 in FY 2022). Revenue: ₹18.5b (up 21% from FY 2022). Net income: ₹1.14b (down 6.9% from FY 2022). Profit margin: 6.2% (down from 8.0% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 27
Upcoming dividend of ₹15.00 per share at 4.3% yield Eligible shareholders must have bought the stock before 04 July 2023. Payment date: 22 September 2023. Payout ratio is a comfortable 62% and the cash payout ratio is 83%. Trailing yield: 4.3%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.9%). Reported Earnings • May 27
Full year 2023 earnings released: EPS: ₹67.37 (vs ₹72.32 in FY 2022) Full year 2023 results: EPS: ₹67.37 (down from ₹72.32 in FY 2022). Revenue: ₹18.7b (up 22% from FY 2022). Net income: ₹1.14b (down 6.9% from FY 2022). Profit margin: 6.1% (down from 8.0% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • May 13
Tide Water Oil Co. (India) Limited to Report Q4, 2023 Results on May 26, 2023 Tide Water Oil Co. (India) Limited announced that they will report Q4, 2023 results at 3:30 PM, Indian Standard Time on May 26, 2023 Announcement • Feb 15
Tide Water Oil Co. (India) Limited Declares Third Interim Dividend for the Financial Year 2022-23 Tide Water Oil Co. (India) Limited declares third interim dividend of 500% (INR 10/- per ordinary share of face value of INR 2/- each) for the financial year 2022-23. The company determined 22 February, 2023, as the record date for the purpose of the aforesaid 3rd Interim Dividend distribution. Dividend shall be paid within 30 days from the date of declaration (i.e. within 15th March 2023). Reported Earnings • Feb 15
Third quarter 2023 earnings released: EPS: ₹15.27 (vs ₹17.79 in 3Q 2022) Third quarter 2023 results: EPS: ₹15.27 (down from ₹17.79 in 3Q 2022). Revenue: ₹5.01b (up 22% from 3Q 2022). Net income: ₹259.5m (down 14% from 3Q 2022). Profit margin: 5.2% (down from 7.3% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year and the company’s share price has also increased by 1% per year. Announcement • Feb 02
Tide Water Oil Co. (India) Limited to Report Q3, 2023 Results on Feb 14, 2023 Tide Water Oil Co. (India) Limited announced that they will report Q3, 2023 results on Feb 14, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹12.02 (vs ₹18.83 in 2Q 2022) Second quarter 2023 results: EPS: ₹12.02 (down from ₹18.83 in 2Q 2022). Revenue: ₹4.51b (up 14% from 2Q 2022). Net income: ₹204.3m (down 36% from 2Q 2022). Profit margin: 4.5% (down from 8.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improved over the past week After last week's 17% share price gain to ₹1,181, the stock trades at a trailing P/E ratio of 16.3x. Average trailing P/E is 19x in the Chemicals industry in India. Total returns to shareholders of 45% over the past three years. Reported Earnings • Aug 03
Full year 2022 earnings released: EPS: ₹72.32 (vs ₹83.16 in FY 2021) Full year 2022 results: EPS: ₹72.32 (down from ₹83.16 in FY 2021). Revenue: ₹15.4b (up 22% from FY 2021). Net income: ₹1.23b (down 13% from FY 2021). Profit margin: 8.0% (down from 11% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Jun 24
Upcoming dividend of ₹15.00 per share Eligible shareholders must have bought the stock before 01 July 2022. Payment date: 23 September 2022. Payout ratio is on the higher end at 76%, and the cash payout ratio is above 100%. Trailing yield: 5.5%. Within top quartile of Indian dividend payers (1.9%). Higher than average of industry peers (0.8%). Reported Earnings • Jun 01
Full year 2022 earnings released: EPS: ₹72.32 (vs ₹83.16 in FY 2021) Full year 2022 results: EPS: ₹72.32 (down from ₹83.16 in FY 2021). Revenue: ₹15.6b (up 24% from FY 2021). Net income: ₹1.23b (down 13% from FY 2021). Profit margin: 7.9% (down from 11% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 16
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹17.79 (down from ₹28.06 in 3Q 2021). Revenue: ₹4.12b (up 13% from 3Q 2021). Net income: ₹302.3m (down 37% from 3Q 2021). Profit margin: 7.3% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 13% per year. Executive Departure • Aug 22
Additional Non-Executive & Non-Independent Director Amit Mehta has left the company On the 13th of August, Amit Mehta's tenure as Additional Non-Executive & Non-Independent Director ended after less than a year in the role. We don't have any record of a personal shareholding under Amit's name. A total of 5 executives have left over the last 12 months. Reported Earnings • Aug 15
First quarter 2022 earnings released: EPS ₹13.47 (vs ₹10.24 in 1Q 2021) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2022 results: Revenue: ₹2.89b (up 42% from 1Q 2021). Net income: ₹228.9m (up 32% from 1Q 2021). Profit margin: 7.9% (down from 8.6% in 1Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹2,885, the stock trades at a trailing P/E ratio of 34.6x. Average trailing P/E is 22x in the Chemicals industry in India. Total returns to shareholders of 177% over the past three years. Upcoming Dividend • Jul 12
Upcoming dividend of ₹200 per share Eligible shareholders must have bought the stock before 19 July 2021. Payment date: 10 August 2021. Trailing yield: 1.2%. Lower than top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.7%). Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improved over the past week After last week's 18% share price gain to ₹14,483, the stock trades at a trailing P/E ratio of 33.2x. Average trailing P/E is 21x in the Chemicals industry in India. Total returns to shareholders of 184% over the past three years. Reported Earnings • Jun 12
Full year 2021 earnings released: EPS ₹416 (vs ₹356 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: ₹12.6b (down 4.4% from FY 2020). Net income: ₹1.41b (up 17% from FY 2020). Profit margin: 11% (up from 9.2% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 18% share price gain to ₹5,489, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 7.2% over the past three years. Executive Departure • Apr 09
Non-Executive & Independent Director has left the company On the 6th of April, Nayantara Palchoudhuri's tenure as Non-Executive & Independent Director ended after 6.0 years in the role. We don't have any record of a personal shareholding under Nayantara's name. A total of 4 executives have left over the last 12 months. Is New 90 Day High Low • Mar 01
New 90-day high: ₹4,777 The company is up 8.0% from its price of ₹4,419 on 01 December 2020. The Indian market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 11% over the same period. Reported Earnings • Feb 13
Third quarter 2021 earnings released: EPS ₹140 (vs ₹123 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: ₹3.69b (up 6.7% from 3Q 2020). Net income: ₹476.9m (up 14% from 3Q 2020). Profit margin: 13% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.