SmallCap stock engaged in the business of manufacturing and marketing a wide range of automotive and Industrial lubricants, and specialties jumped 8 percent in the day’s trade after its promoter purchased an additional stake in it.
Price Action:
With a market capitalization of Rs. 3,564 Crores, the shares of Tide Water Oil (India) were trading at Rs. 2,040 per equity share, up 5 percent from its previous day’s close price of Rs. 1,939.90.
What Happened:
In regard to the company’s earlier intimation dated 24th June 2024, it received an application for pre-dealing approval, along with a necessary undertaking, from Standard Greases & Specialities Private Limited, Joint Promoter of the Company for further acquisition of 3.5 Lakh equity shares of the Company.
Following the above events after due scrutiny, the Committee of Directors of the Company has approved the pre-dealing application as submitted by Standard Greases & Specialities Private Limited, Joint Promoter, for the acquisition of 3.5 Lakh equity shares of Tide Water Oil (India) Limited
Shareholding Data:
As per the latest shareholding data available on BSE, Standard Greases & Specialities Private Limited holds a 34.34 percent stake in the company consisting of 59.84 Lakh Equity shares.
About the Company:
Tide Water Oil Company (India) Limited is engaged in the business of manufacturing and marketing a wide range of automotive lubricants, Industrial lubricants, and specialties. It is a leading manufacturer and marketer of lubricants in over 65 countries.
Its product portfolio consists of two-wheeler oils, motorcycle oils, miscellaneous, greases, machinery oils thermic fluids, spindle oils, turbine oils, hydraulic and circulation oils, non-drip oils, mill roll oils, transmission oils, coolants, and many more.
Financials & Ratios:
Its Revenue from Operations grew by 3.6 percent from Rs. 469.91 Crores in Q4FY23 to Rs. 486.82 Crores in Q4FY24, accompanied by profits of Rs. 34.39 Crores to Rs. 42.92 Crores.
In terms of Return ratios, it has reported a return on equity(ROE) of 18 percent and a return on capital employed (ROCE) of 23.7 percent. It is also a debt-free company with a debt-to-equity ratio of 0.
Written by: Bharath K.S
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