Tide Water Oil Strives for Profitability Amid Diversification

City-based Tide Water Oil Co (India) Ltd is focusing on profitability and leveraging its Veedol lubricant brand. The company targets vehicle care and industrial sectors, bolsters its supply chain, partners with B'laster, and appoints Sourav Ganguly as ambassador to enhance market presence.

In a significant move towards diversification, city-based Tide Water Oil Co (India) Ltd remains unwavering in its focus on profitability. On Friday, a top official highlighted that the company continues to leverage its flagship Veedol lubricant brand.

The company plans to seize emerging opportunities in the vehicle care and industrial sectors while improving its supply chain and digitization capabilities to enhance operational efficiency.

Managing Director Arijit Basu stated that Tide Water Oil aims to surpass the industry's 3 percent growth rate by leveraging its presence in the automotive aftermarket, industrial, overseas, and new business segments. This strategy follows a financially successful year with a 4.17 percent increase in consolidated revenue and an impressive 24.74 percent growth in the bottom line.

In a first for the Indian lubricant market, Tide Water Oil has partnered with US-based B'laster to introduce the renowned Gunk and Liquid Wrench brands in the vehicle care segment. This collaboration aligns with the company's vision to provide a comprehensive portfolio to customers, especially in the growing personal mobility sector.

To boost its brand presence further, the company has onboarded former Indian cricket captain Sourav Ganguly as its brand ambassador, a move expected to propel the company forward.

With a pan-India footprint, Veedol stands out as one of India's most prominent lubricant brands, reporting a consolidated revenue from operations of Rs 1931 crore as of March 2024.

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