Veedol Corporation Board Approves FY26 Results, Recommends 100% Dividend, Appoints New MD

Veedol Corporation Limited reported a standalone net profit of ₹135.16 crore for the fiscal year ending March 31, 2026. The consolidated net profit for the same period stood at ₹191.62 crore. The company's Board has recommended a final dividend of 100%, equivalent to ₹22 per share.

Key Decisions and Leadership Change

The Board of Directors met on May 20, 2026, to approve the audited financial results for FY26. A key outcome was the recommendation for a final dividend of 100% (₹22 per share), totaling ₹38.33 crore, which requires shareholder approval at the upcoming Annual General Meeting (AGM). In a significant management update, Mr. Arijit Basu resigned as Managing Director, with Mr. Rajendra Nath Ghosal appointed to take over the role starting June 1, 2026. Furthermore, M/s. Harshad S. Deshpande & Associates were appointed as the Cost Auditors for the financial year 2026-27.

Financial Performance and Shareholder Returns

For the fiscal year ended March 31, 2026, Veedol Corporation's standalone revenue was ₹1,662.45 crore, with a profit before tax of ₹142.49 crore. On a consolidated basis, the company achieved revenue of ₹2,186.23 crore and a profit before tax of ₹238.43 crore. The recommended 100% dividend offers shareholders a direct return on their investment, reflecting the company's financial performance.

Inventory Loss and Future Considerations

The company recorded an exceptional item of ₹6.56 crore, representing an inventory loss resulting from a fire incident on October 5, 2024. The insurance claim for this loss was repudiated. Mr. Arijit Basu's tenure as MD concludes on May 31, 2026. Shareholders will vote on the dividend at the 103rd AGM on August 24, 2026. The company is also observing the financial implications of the New Labour Code.