Tide Water Oil Co, is a part of the multi divisional Andrew Yule group, which holds 26.22% stake. It manufactures and sells lubricants and greases for automotive and industrial applications in India under the brand name of Veedol. It has a technical collaboration with Nippon Oil Corporation and superior quality lubricants under the brand name Eneos are manufactured and marketed in India by Tide Water Oil. The stock had hit a new high on Monday at Rs.16,093 in anticipation of Q2 numbers and post the announcement, profit booking on the counter took the price down to Rs.15,850.  More than the Q2 numbers, market is more enthused with the 1000% or Rs.100 per share (Rs.10 face value) interim dividend.

In terms of financial performance, for Q2FY15, net profit for the quarter came in at a huge Rs.96 crore and this was thanks mainly to exceptional income of Rs.108 crore, which was profit on transfer of business on slump sale to JV promoter with JX Nippon Oil. Net profit in previous Q2 was at Rs.14 crore. The company’s equity is very small at Rs.85 lakh which explains the huge stock price. Only some 5.44 crore shares are in the public domain. Its reserve stands at Rs.498 crore, making it an ideal bonus candidate.