Veedol Corporation Limited Approves 1100% Dividend and Announces Management Changes for FY 2026

Veedol Corporation Limited Approves 1100% Dividend and Announces Management Changes for FY 2026​

Veedol Corporation Limited, previously known as Tide Water Oil Co. (India) Limited, announced significant corporate decisions and released its audited financial results for the fiscal year ended March 31, 2026. The company's Board of Directors held its 354th meeting on May 20, 2026, where it approved annual financial statements and recommended a substantial final dividend.

Financial Performance and Dividend Recommendation​

At the meeting held on May 20, 2026, the Board approved the Statement of Standalone Profit and Loss Account for the financial year ended March 31, 2026, along with the Standalone Balance Sheet and the report of the Auditors thereon. The Board also approved the Statement of Consolidated Profit and Loss Account and Consolidated Balance Sheet for the same period.

The Directors recommended a final dividend of 1100% (Rs. 22/- per share) on the ordinary shares of the Company for the year ended March 31, 2026. This dividend recommendation absorbs a sum of Rs. 38.33 crores and is subject to the approval of the shareholders at the ensuing 103rd Annual General Meeting. The dividend is scheduled to be distributed within 30 days of the 103rd AGM.

The Board also approved the book closure period from August 18, 2026, to August 24, 2026.

Audited Standalone and Consolidated Results for FY 2026​

The audited financial results for the quarter and financial year ended March 31, 2026, showed the following figures:

Standalone Financial Results (Rs. in crores)


Consolidated Financial Results (Rs. in crores)

Financial Statements Summary​

The company released detailed financial statements for stakeholders:

Standalone Statement of Financial Results (Quarter and Year ended March 31, 2026)

Consolidated Statement of Financial Results (Quarter and Year ended March 31, 2026)

Management and Operational Updates​

The Board of Directors also announced several corporate governance changes:

• Appointment of Key Personnel: The Board appointed Mr. Rajendra Nath Ghosal, the erstwhile Managing Director, as an Additional Director and Managing Director. This appointment is effective for the term from June 1, 2026, to March 31, 2027, subject to members' approval.
• Key Management Changes: Mr. Arijit Basu will cease to be the Managing Director of the Company effective May 31, 2026. Separately, Mr. Mandar Ghatnekar, Head Marketing, will also be relieved of his duties effective May 31, 2026.
• Auditor Appointment: The Board recommended the appointment of M/s. Harshad S. Deshpande & Associates, Cost Accountants, as the Cost Auditor of the Company for the financial year 2026-27.
• AGM Scheduling: The Board approved the convening of the 103rd Annual General Meeting (AGM) on August 24, 2026.

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Disclaimer: This article is based solely on the disclosed corporate filing materials and reports the resolutions, financial figures, and personnel changes exactly as provided.

VEEDOL Stock Price Movement​

On Wednesday, Veedol Corporation Limited shares slipped by 0.27% to settle at ₹1435.40. The equity recorded a total traded volume of 13,210 shares during the session.