Tide Water Oil’s flagship lubricant brand Veedol has diversified into new businesses such as vehicle care and has revamped its supply chain and digitisation processes for greater operational efficiencies.
“We would like to focus on profitable growth. We are present not just in the automotive aftermarket, but we have a presence in the industrial segment and have our overseas business and new businesses. The aim is to stay ahead of the 3 per cent market growth of lubricants,” said Arijit Basu, managing director, Tide Water Oil Co. (India) Ltd.
The city-based company had recorded a 4.17 per cent growth in consolidated revenue from operations in 2023-24 over the previous year, while the bottomline growth was 24.74 per cent.
The company has collaborated with US firm B’laster for Gunk and Liquid Wrench brands under the vehicle care category. “We are the first lubricant company in India to foray into vehicle care with the US-based well-known brand called Gunk,” Basu said.
