(A) About the Company
Veedol India i.e. Tide Water Oil Company (India) Ltd incorporated in 1928 is a part of the multi divisional Andrew Yule group that is indulged in business of Engineering, Electrical, Tea Cultivation, Power Generation, Digital Communication Systems & Lubricants. It is engaged in manufacturing & selling Lubricating Oil. The Company’s products market under the “Veedol” brand name.
Its range of automotive products include engine oils for trucks, tractors, commercial vehicles, passenger cars & two/three wheelers. It also produces gear oils, transmission oils, coolants and greases for automobiles.
The company’s Registered office is in Kolkata. Company has a widespread network of 50 Distributors & 650 direct Dealers servicing over 50,000 retail Outlets.
Further, Tide Water Oil Limited has Manufacturing Facilities in all the four regions of India. It includes –
- North Region – Faridabad, Haryana
- East Region – Howrah, West Bengal
- West Region – Dadar & Nagar Haveli and Navi Mumbai, Maharashtra
- South Region – Sriperumbudur Taluk Kancheepuram, Tamil Nadu
Moreover, the company has over 55 Depots situated strategically across India. TWOL also has 2 Research & Development Centers in India. The R&D center for Lube-oils is located at Turbhe, Navi Mumbai and the R&D center for Greases is at Oragadam, near Chennai.
(B) Product Categorization of the Company
Product range of Tide Water Oil Limited includes:
- Automotive Oils – Diesel Engine Oils, Premium Diesel Engine Oils, PCMO & 2 Wheeler oils, Dedicated Engine oils, Gear & Transmission oils, Agri-Engine Oils, Coolant, Brake Fluid, etc.
- Industrial Oils – General Purpose Machinery Oils, Spindle Oils, Turbine Oils, Hydraulic & Circulation Oils, Steam Cylinder Oils, Industrial Gear oils, Mill Rolls Oil, Non Drip oils, Cutting oils, etc.
- Industrial Grease – Calcium Base Grease, Lithium base grease, High Temperature grease, Cardium Compound Grease, Graphite grease, etc.
- Automotive Grease – Lithium Base Grease, Sodium Base Grease, Calcium base grease.
- Genuine Oils – Diesel engine oils, Petrol engine oils.
Tide Water Oil Limited manufactures and supplies oils to some of the most reputed brands, which include –
- Royal Enfield
- SML Isuzu Limited
- L&T Komatsu Limited
- Hero MotoCorp Limited
- Honda Motor Cycle and Scooter India Pvt. Ltd.
- Honda Motor India Private Limited
- India Yamaha Motor Private Limited
- George Maijo Industries Pvt Ltd. (Yamaha Outboard Motors Distributor)
- Kobelco Construction Equipment India Pvt. Ltd.
- Kobelco Cranes India Private Limited
- Kubota Agricultural Machinery India Pvt. Ltd.
- ISUZU Motors India Private Limited
- Renault Nissan Automotive India Private Limited
- Toyota Boshoku Automotive India Pvt. Ltd.
- KYB Motorcycle Suspension India Pvt. Ltd.
- Yanmar India Private Limited
(C) Group Structure of Tide Water Oil Company (India) Limited
Mr. Vinod S Vyas, Non Executive Director in the company, is the Founder of Standard Greases & Specialities Private Limited and Director of Janus Consolidated Finance Private Limited. Both the companies hold shareholding in Tide Water Oil Company (India) Limited as promoters.
*4 subsidiaries of Tide Water Oil Company (India) Ltd. – Veedol International Ltd, Veedol International DMCC, Veedol Deutschland gmbH and Veedol UK Limited.
*Joint Venture of Tide Water Oil Company (India) Ltd – JXTG Nippon Oil and Energy Corporation.
(D) Executive Management of the Company
i) Debasis Jana – Chairman
Debasis Jana is the chairman of Tide Water Oil Company Limited. He has vast Experience of about 36 years in Sales and Marketing of high value heavy engineering capital equipment and projects related to boilers and water treatment solutions. Mr Jana holds an Engineering degree in Mechanics from Bengal Engineering & Science University, Shibpur. He also holds a post graduate Diploma in Industrial Management from Indira Gandhi National Open University. Also, he worked as General Manager for about 12 Years & 7 months in ISGEC Heavy Engineering Limited, Mumbai and as Sales Manager in Andrew Yule & company Limited for 13 Years and 9 Months. Currently, Mr. Jana also holds the position of Chairman & Managing Director at Andrew Yule & Company Limited, Associate Company of TWOL.
Age of Mr. Debasis is 60 Years. He is on the Board of the company since 13 November 2017.
ii) R.N. Ghosal – Managing Director
Mr. R. N. Ghosal is Managing Director of Tide Water Oil India Co. Limited since 02. November.2011. He holds a Bachelor’s Degree in Science from St. Stephens College, Delhi & Master’s Degree in Science (Chemistry) and in Technology (Credits) from IIT, Delhi and has vast experience in Marketing Management and Chemistry for more than 43 years. He also worked for 3 years and 3 Months in MRF Tyres Limited as Group Product Manager.
Mr. Ghosal was inducted into the Board of the Company in 2009. His age is 65 years. He received Remuneration of INR 89.70 Lakhs for F.Y. 2019-20, which is 0.08% of Total Revenue and 0.85% of Total Profit of F.Y. 2019-20.
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References: Company’s Published Reports
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