Small Oil Refining

Veedol Corporation Ltd.

VEEDOL

₹1710.2

0.12% (2.0)

Market Cap

₹2,976 Cr.

P/E

17.64

Veedol Corporation Ltd.
Overview
Financials
Benchmarking
Shareholding

Veedol Corporation Ltd.

Veedol Corporation Ltd.
Overview
Financials
Benchmarking
Shareholding

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on Veedol Corporation Ltd. Shareprice

Has the share price of Veedol Corporation grown faster than its competition?

Veedol Corporation has given lower returns compared to its competitors.
Veedol Corporation has grown at ~3.84% over the last 8yrs while peers have grown at a median rate of 7.56%

Is Veedol Corporation stock expensive?

Veedol Corporation is expensive when considering the EV/EBIDTA, however latest PE is < 3 yr avg PE.
Latest PE of Veedol Corporation is 17.64, while 3 year average PE is 18.52.
Also latest EV/EBITDA of Veedol Corporation is 15.16 while 3yr average is 14.93.

View FAQ's On Business

Growth Table

Veedol Corporation Ltd.
Savita Oil Tech
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GP Petroleums
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	-28.31	26.10	19.31	-14.40	15.18	9.90	6.25	3.84	5.15	7.91
TTM EPS CAGR	18.85	21.84	11.70	6.05	7.93	9.43	26.43	-2.66	4.63	5.12
Sales CAGR	1.96	3.07	8.64	11.85	8.39	6.11	8.51	7.17	8.09	7.50
PAT Margin (Abs Growth)	1.29	-0.54	-2.36	-0.90	0.93	-0.24	-0.72	0.27	-6.09	1.41
PE CAGR	-39.19	3.64	6.90	-18.24	6.83	0.41	-15.93	6.91	0.53	2.68
CFO CAGR	50.27	29.00	30.90	4.02	14.43	8.66	23.77	2.60	7.62	17.78

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

Veedol Corporation Ltd.
Savita Oil Tech
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GP Petroleums
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Assets	846	945	1,374	1,405	1,482	1,478	1,516	1,588	1,702	1,253
Non Current Assets	237	304	322	323	352	357	346	354	383	440
Net Block	148	231	242	247	262	277	269	270	293	314
Capital Work in Progress	1.52	0.44	3.27	1.78	11.79	4.05	3.41	1.74	10.17	7.18
Intangible Assets Under Development	—	—	—	—	—	—	—	0.25	—	—
Long Term Investments	68.07	65.61	69.43	70.93	77.13	74.12	70.05	69.86	73.34	—
Current Assets	605	637	1,049	1,078	1,127	1,119	1,168	1,231	1,315	811
Inventory	162	201	189	189	201	286	290	304	279	333
Accounts Receivable	165	200	189	196	152	164	212	237	231	290
Short Term Investments	—	—	0.50	—	—	—	—	—	—	—
Cash & Bank Balances	244	149	179	160	205	184	149	163	40.67	44.54
Liabilities	846	945	1,374	1,405	1,482	1,478	1,516	1,588	1,702	1,253
Shareholders Funds	586	613	650	640	681	737	720	764	827	914
Share Capital	1.74	1.70	1.70	1.70	1.70	1.70	3.40	3.40	3.40	3.40
Reserves	585	611	649	638	679	735	716	761	824	911
Non Current Liabilities	39.92	46.17	44.05	47.63	53.63	53.24	53.44	53.44	55.56	68.63
Secured Loans	—	—	—	1.15	—	—	—	—	—	—
Unsecured Loans	—	—	—	—	—	—	—	—	—	—
Current Liabilities	220	286	680	718	748	688	742	770	819	262
Accounts Payable	137	168	183	179	172	204	211	215	221	166
Short Term Loans	28.41	28.72	42.09	38.05	34.68	16.60	13.45	4.41	—	—

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

Veedol Corporation Ltd.
Savita Oil Tech
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GP Petroleums
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	974	1,130	1,275	1,379	1,317	1,258	1,536	1,854	1,931	1,969
Operating Expenses	860	994	1,136	1,249	1,179	1,094	1,388	1,712	1,762	1,776
Raw Material	560	657	742	821	736	713	992	1,238	1,211	1,043
Material Cost (%)	57.66	56.65	58.62	59.23	54.68	55.36	63.29	66.64	62.86	51.29
Employee Cost	64.31	78.35	95.52	98.19	105	105	112	122	140	139
Power & Fuel Cost	2.85	3.27	3.44	3.73	3.26	3.83	3.96	4.70	5.51	—
Operating Profit	113	136	139	131	138	164	147	142	169	193
Other Income	24.06	29.67	23.11	21.05	22.68	22.36	19.65	14.99	21.95	19.47
OPM (%)	11.63	12.01	10.89	9.46	10.47	13.04	9.59	7.67	8.75	9.82
Depreciation and Amortisation	7.39	8.91	9.33	10.46	12.49	14.12	15.47	15.46	15.23	28.52
Interest	1.07	2.98	2.61	2.45	2.36	2.41	1.60	1.49	1.79	3.55
Profit Before Tax	129	153	150	139	146	170	160	147	187	174
Tax	50.19	50.66	52.51	52.38	39.32	44.10	37.20	32.58	44.24	32.86
Net Profit	86.44	108	107	96.97	122	141	123	115	143	141
Number of shares(Crs)	0.35	0.35	0.35	0.35	0.35	0.35	1.74	1.74	1.74	—
Dividend Payout Ratio(%)	50.32	47.10	55.69	82.40	69.64	72.17	76.07	62.31	61.85	—

TTM Values as of Mar 2025

Cash Flow

Veedol Corporation Ltd.
Savita Oil Tech
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GP Petroleums
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash from Operating Activity	127	34.94	94.47	79.25	133	69.33	93.44	103	156	29.72
Profit Before Tax	137	153	150	139	146	185	160	147	187	208
Adjustments	-12.12	-18.50	-4.57	-2.63	-3.29	-14.73	-3.36	3.46	-8.10	-9.39
OCF Before Working Capital	135	135	145	136	142	171	157	151	179	199
Working Capital Changes	43.36	-38.61	4.64	-2.04	28.34	-68.92	-30.66	-16.84	16.72	-125
Taxes Paid	-52.13	-61.44	-55.62	-54.78	-37.93	-32.45	-32.65	-30.30	-40.29	-44.33
Cash from Investing Activity	-6.84	23.78	-85.94	-1.06	-49.25	38.47	37.31	5.73	-91.81	72.08
Net Fixed Assets Purchased	-14.61	-21.26	-17.50	-13.96	-31.93	-18.29	-8.43	-14.89	-46.93	-41.85
Fixed Assets Purchased	-16.34	-21.49	-17.97	-14.70	-32.06	-18.37	-8.60	-15.45	-47.24	-42.18
Fixed Assets Sold	1.73	0.23	0.47	0.74	0.13	0.08	0.17	0.56	0.31	0.33
Investment Purchased	—	—	-84.06	-6.02	-40.64	25.61	-158	-186	-218	—
Investment Sold	—	—	—	0.50	—	25.61	182	193	153	—
Interest Recieved	15.12	14.46	10.62	9.82	13.88	14.06	7.77	6.53	9.84	10.89
Dividends Recieved	—	—	—	—	—	—	0.06	—	—	22.64
Subsidiary Investments	-8.30	-72.62	—	—	—	—	—	—	—	—
Cash from Financing Activity	-36.32	-56.27	-58.17	-110	-80.22	-102	-142	-81.47	-85.21	-98.89
Proceeds From Shares	—	—	—	—	—	—	—	—	—	—
Net Long Term Borrowings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Proceeds From Borrowings	—	—	—	—	—	—	—	—	—	—
Repayment From Borrowings	—	—	—	—	—	—	—	—	—	—
Interest Paid	-2.23	—	—	—	-0.06	-0.09	-0.13	-0.04	-0.04	—
Dividend Paid	-41.86	-57.83	-60.98	-90.61	-64.47	-83.64	-139	-73.18	-81.89	-90.60
Net Cash Flow	83.47	2.45	-49.64	-31.49	3.36	5.31	-11.50	27.74	-21.52	2.91
Opening Cash & Cash Equivalents	161	112	114	65.03	33.75	37.55	43.05	31.56	59.82	38.86
Effect of FX	—	—	0.34	0.21	0.44	0.19	0.01	0.52	0.56	1.31
Closing Cash & Cash Equivalents	244	114	65.03	33.75	37.55	43.05	31.56	59.82	38.86	43.08
Net Capex (est)	14.61	21.26	17.50	13.96	31.93	18.29	8.43	14.89	46.93	41.85
Free Cash Flow (est)	112	13.68	76.97	65.29	101	51.04	85.01	88.59	109	-12.13

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

Veedol Corporation Ltd.
Savita Oil Tech
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GP Petroleums
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	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Operational Ratios
Quick Ratio	1.98	2.02	1.52	1.26	1.24	1.24	1.21	1.18	1.20	1.27
Liquid Assets (Crs)	384	443	435	859	889	926	833	878	927	1,036
Current Liabilities (Crs)	194	220	286	680	718	748	688	742	770	819
Current Ratio	2.79	2.76	2.23	1.54	1.50	1.51	1.63	1.57	1.60	1.61
Current Assets (Crs)	540	605	637	1,049	1,078	1,127	1,119	1,168	1,231	1,315
Current Liabilities (Crs)	194	220	286	680	718	748	688	742	770	819
Interest Coverage Ratio	423	121	52.51	58.48	57.61	62.74	71.50	101	99.77	106
EBIT (Crs)	82.33	130	156	153	141	148	172	151	142	176
Interest Expenses (Crs)	0.55	1.07	2.98	2.61	2.45	2.36	2.41	1.60	1.49	1.79
Fixed Asset Turnover	4.24	4.84	4.57	4.77	4.89	4.27	3.72	4.47	5.20	4.92
Net Sales (Crs)	1,037	974	1,130	1,275	1,379	1,317	1,258	1,536	1,854	1,931
Fixed Assets (Crs)	245	201	247	267	282	308	338	343	356	392
Cash Conversion Cycle	43.01	25.31	15.17	22.59	20.01	35.88	12.35	31.19	34.99	30.85
Inventory Days	54.03	51.03	50.99	54.36	50.11	54.07	67.39	66.09	55.73	53.46
Days Receivable	54.10	55.14	51.33	54.12	50.94	48.24	43.65	43.13	42.21	42.99
Days Payable	65.13	80.86	87.16	85.90	81.04	66.43	98.69	78.02	62.94	65.60
Debt to Equity Ratio	0.04	0.05	0.05	0.06	0.06	0.05	0.02	0.02	0.01	0.00
Total Debt (Crs)	21.43	28.41	28.72	42.09	39.20	34.68	16.60	13.45	4.41	0.00
Shareholders Equity (Crs)	499	586	613	650	640	681	737	720	764	827
Free Cash Flow/Sales (%)	3.47	11.51	1.21	6.04	4.73	7.66	4.06	5.54	4.78	5.62
Free Cash Flow(est) (Crs)	35.99	112	13.68	76.97	65.29	101	51.04	85.01	88.59	109
Net Sales (Crs)	1,037	974	1,130	1,275	1,379	1,317	1,258	1,536	1,854	1,931
Profitability Ratios
Gross Margin (%)	34.94	42.34	43.35	41.38	40.77	45.32	44.64	36.71	33.36	37.14
Op Profit Margin (%)	7.73	11.63	12.01	10.89	9.46	10.47	13.04	9.59	7.67	8.75
Operating Profit (Crs)	93.44	137	165	162	152	161	186	167	157	191
Net Sales (Crs)	1,037	974	1,130	1,275	1,379	1,317	1,258	1,536	1,854	1,931
Net Profit Margin (%)	15.29	8.88	9.58	8.38	7.03	9.27	11.23	8.00	6.18	7.40
Net Profit (Crs)	159	86.44	108	107	96.97	122	141	123	115	143
Net Sales (Crs)	1,037	974	1,130	1,275	1,379	1,317	1,258	1,536	1,854	1,931
ROCE (%)	15.13	20.74	23.73	21.98	20.53	20.17	21.82	19.58	17.33	19.89
EBIT (Crs)	82.33	130	156	153	141	148	172	151	142	176
Capital Employed (Crs)	544	626	659	694	688	734	790	773	818	883
Return on Assets (%)	21.49	10.22	11.45	7.77	6.90	8.24	9.56	8.11	7.22	8.40
Net Profit (Crs)	159	86.44	108	107	96.97	122	141	123	115	143
Total Assets (Crs)	738	846	945	1,374	1,405	1,482	1,478	1,516	1,588	1,702
ROIC (%)	12.74	22.21	19.63	19.16	16.62	20.45	21.07	18.45	17.10	15.47
Op Profit after Taxes (Crs)	47.18	64.61	84.95	84.19	74.74	91.55	111	101	98.66	117
Invested Capital (Crs)	370	291	433	439	450	448	527	548	577	759
ROE (%)	31.74	14.74	17.66	16.43	15.15	17.93	19.19	17.07	14.99	17.27
Net Profit Margin (%)	15.29	8.88	9.58	8.38	7.03	9.27	11.23	8.00	6.18	7.40
Asset Turnover ratio	1.41	1.15	1.20	0.93	0.98	0.89	0.85	1.01	1.17	1.13
Equity Multiplier	1.48	1.44	1.54	2.11	2.20	2.18	2.01	2.11	2.08	2.06
Adjusted EPS	93.26	49.68	63.69	62.85	57.04	71.80	83.14	72.30	67.40	84.08
Valuation Ratios
P/E	7.24	26.39	18.92	19.47	17.97	8.92	10.41	15.37	12.39	16.62
Price to Book	2.30	3.89	3.34	3.20	2.72	1.60	2.00	2.62	1.86	2.87
EV/EBITDA	10.70	15.04	11.66	11.99	10.70	5.72	6.99	10.50	8.02	12.23
Dividend Yield (%)	2.59	1.91	2.49	2.86	4.58	7.81	6.93	4.95	5.03	3.72

Quarterly Results

Veedol Corporation Ltd.
Savita Oil Tech
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GP Petroleums
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In Rs. Cr.	Dec'22	Mar'23	Jun'23	Sep'23	Dec'23	Mar'24	Jun'24	Sep'24	Dec'24	Mar'25
Net Sales	497	470	474	474	496	487	479	476	482	532
Operating Expenses	463	429	435	433	455	439	437	430	444	464
Increase/Decrease in Stock	4.78	10.72	0.28	7.65	2.69	-7.34	-18.71	-9.46	-5.24	0.08
Raw Material	294	274	272	262	276	272	263	238	257	285
Employee Cost	30.12	33.01	34.54	33.92	37.11	32.73	30.82	34.68	37.67	36.06
Selling and Distribution Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Electricity, Power & Fuel Cost	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gen_AdminExpenses	0.00	0.00	0.00	0.00	0.00	55.77	0.00	0.00	0.00	61.80
Miscellaneous Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Profit	33.72	40.82	38.53	41.57	41.61	47.76	41.40	46.15	38.11	67.66
Other Income	3.67	4.26	4.77	5.04	3.98	7.64	7.82	3.38	4.72	3.55
Interest	0.35	0.31	0.32	0.34	0.85	0.28	0.68	1.18	0.94	0.75
PBDT	37.04	44.77	42.98	46.27	44.74	55.12	48.54	48.35	35.33	70.46
Depreciation and Amortization	4.21	3.73	3.77	3.82	3.87	3.77	5.11	8.30	6.92	8.19
Profit Before Tax	32.83	41.04	39.21	42.45	40.87	51.35	43.43	40.05	28.41	62.27
Tax	9.03	8.25	10.79	9.89	11.03	12.53	12.77	11.48	-0.38	8.99
Profit After Tax	23.80	32.79	28.42	32.56	29.84	38.82	30.66	28.57	28.79	53.28
Exceptional Items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-6.56	0.00
Net Profit	25.95	34.41	31.21	35.24	33.58	42.92	37.11	34.60	37.34	59.70
Quarterly Ratios
EPS	15.26	20.24	18.36	20.73	19.75	25.25	21.83	20.35	21.96	35.12
Operating Profit Margin	6.78	8.69	8.13	8.77	8.38	9.80	8.65	9.69	7.90	12.72
Net Profit Margin	4.79	6.98	6.00	6.87	6.01	7.97	6.40	6.00	5.97	10.02

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

23.10%

Implied Growth Rate over a 5 year period*

6.00%

Implied Growth Rate over a 10 year period*

2.00%

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Raphson method.

Learn how to use Reverse DCF

FAQs on Veedol Corporation Ltd. Financials

How strong is Veedol Corporation balance sheet?

Balance sheet of Veedol Corporation is strong.
It shouldn't have solvency or liquidity issues.

Is the debt of Veedol Corporation increasing or decreasing?

Yes, The net debt of Veedol Corporation is increasing.
Latest net debt of Veedol Corporation is -₹44.54 Crs as of Mar-25.
This is greater than Mar-24 when it was -₹78.34 Crs.

Is the profitablity of Veedol Corporation improving?

The profit is oscillating.
The profit of Veedol Corporation is ₹141 Crs for TTM, ₹143 Crs for Mar 2024 and ₹115 Crs for Mar 2023.

Does Veedol Corporation pay decent dividends?

The company seems to pay a good stable dividend.
Veedol Corporation latest dividend payout ratio is 61.85% and 3yr average dividend payout ratio is 66.74%

How has Veedol Corporation allocated its funds?

Companies resources are allocated to majorly unproductive assets like Short Term Loans & Advances

View FAQ's On Shareholding

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Veedol Corporation Ltd.

Veedol Corporation Ltd.

Has the share price of Veedol Corporation grown faster than its competition?

Is Veedol Corporation stock expensive?

How strong is Veedol Corporation balance sheet?

Is the debt of Veedol Corporation increasing or decreasing?

Is the profitablity of Veedol Corporation improving?

Does Veedol Corporation pay decent dividends?

How has Veedol Corporation allocated its funds?

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