Latest News | Tide Water Oil to Focus on Profitability Amid Diversification

Kolkata, Jun 28 (PTI) Amid diversification, city-based Tide Water Oil Co (India) Ltd will remain focused on profitability and will continue to leverage its flagship Veedol lubricant brand, a top official said on Friday.

The company aims to capitalise on emerging opportunities in vehicle care and industrial segments, while bolstering its supply chain and digitization capabilities for enhanced operational efficiency.

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According to Managing Director Arijit Basu, the goal is to outpace the industry's 3 per cent growth rate, leveraging their presence in automotive aftermarket, industrial, overseas, and new businesses.

This strategic approach follows a successful financial year, with a 4.17 per cent increase in consolidated revenue and an impressive 24.74 per cent growth in the bottom line.

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Tide Water Oil has partnered with US-based B'laster to introduce the renowned Gunk and Liquid Wrench brands in India's vehicle care market, a first for any lubricant company in the country.

This collaboration aligns with the company's vision to provide a comprehensive portfolio to customers, particularly in the rapidly growing personal mobility sector.

Meanwhile, to further boost its brand presence, the company onboarded former Indian cricket captain Sourav Ganguly as its brand ambassador.

This association is expected to propel the company forward, according to Basu.

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

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)