Shareholders meeting

Date: 31st July, 2026 National Stock Exchange of India Limited (Scrip ID – VEEDOL) Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E) Mumbai – 400 051 Fax No. (022) 2659 8120 BSE Limited (Scrip Code – 590005) P. J. Towers, Dalal Street, Mumbai – 400 001 Fax No. (022) 2272 1919 Dear Sir(s), Sub.: Submission of Annual Report for the financial year 2025-26 alongwith Notice of 103rd Annual General Meeting (AGM) Pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended we submit herewith the Annual Report of the Company for the financial year 2025-26 containing Audited Annual Standalone and Consolidated financial statements and the Notice convening the 103rd AGM, which is being sent by email to those Members whose email addresses are registered with the Company/Registrar & Transfer Agent and with the respective Depository Participant(s) as on Friday, 17th July, 2026. The Annual Report for the financial year 2025-26 is available on the website of the Company at www.veedolindia.com. This is for your information and records. Thanking you, Yours faithfully, For VEEDOL CORPORATION LIMITED [formerly Tide Water Oil Company (India) Limited] Abhijit Tikekar Company Secretary and Head – Legal & CSR Membership No.: A20213 Encl.: As above. Annual Report 2025-26 Forward. Stronger. Smarter. Advancing Progress Responsibly Progress is never simply about moving ahead. It is about moving with purpose, Over the past year, we learning from experience have focused on building and building the strength to Forward. a stronger organisation embrace what lies ahead. from within—strengthening Every milestone creates the our systems, enhancing foundation for the next and operational discipline, Stronger. every challenge presents an expanding our portfolio opportunity to evolve. of premium solutions and embracing digital capabilities For more than a century, that enable faster and smarter Veedol has earned the trust Smarter. decisions. At the same time, of customers through quality, we have remained firmly reliability and an unwavering committed to the values commitment to performance. that have always guided us: Advancing Progress Responsibly Yet, legacy alone cannot integrity, responsibility and define the future. As long-term thinking. industries transform, technologies advance and customer expectations Our theme, ‘Forward. Stronger. continue to evolve, the Smarter. Advancing Progress ability to adapt becomes as Responsibly,’ reflects this balanced important as the experience approach. It represents our determination to move forward that has shaped the journey. with confidence, strengthen the foundations of our business, make smarter choices through innovation and insight and ensure that every step we take creates lasting value for our customers, partners, communities and shareholders. Because the most meaningful progress is not measured by how fast we move but by how responsibly and purposefully we move forward. VEEDOL CORPORATION LIMITED (FORMERLY IN THIS REPORT TIDE WATER OIL CO. (INDIA) LTD.), ESTABLISHED IN 1928, IS A PREMIER GLOBAL LUBRICANT MANUFACTURER OPERATING IN OVER 70 COUNTRIES. THE COMPANY PRODUCES A COMPREHENSIVE RANGE OF HIGH-PERFORMANCE AUTOMOTIVE CORPORATE OVERVIEW AND INDUSTRIAL LUBRICANTS TAILORED TO MEET Who We Are 04 MODERN OEM SPECIFICATIONS. IT EXPANDED FY 2025-26 Review 06 ITS GLOBAL FOOTPRINT BY ACQUIRING VEEDOL Our Journey of Growth and Expansion 08 INTERNATIONAL LIMITED (UK) FROM BP PLC IN Strengthened Footprint 10 12 Our Product Portfolio 12 2011 FOR FULL TRADEMARK RIGHTS, AND PRICE Chairman’s Message 14 THOMAS ASSOCIATES (OWNERS OF GRANVILLE OIL & Letter from MD 18 CHEMICALS LTD.) IN 2016 TO BOOST INTERNATIONAL Financial Scorecard 20 Our product MANUFACTURING. ADDITIONALLY, ITS 2014 50:50 Awards and Accolades 22 JOINT VENTURE WITH JAPAN’S ENEOS CORPORATION Industry Landscape 24 portfolio SERVES TOP-TIER OEMS LIKE HONDA, HERO, AND Operations and Manufacturing Excellence 26 Research and Development 34 YAMAHA. HEADQUARTERED IN KOLKATA WITH THREE STATUTORY REPORTS Brand and Market Engagement 38 REGIONAL OFFICES, VEEDOL'S MASSIVE INDIAN Stakeholder Engagement 40 Management Discussion and Analysis Report 60 NETWORK COMPRISES OVER 500 DISTRIBUTORS Materiality Assessment 42 Directors’ Report 71 AND 50,000 RETAIL OUTLETS. THIS EXTENSIVE People 44 Corporate Governance Report 99 DISTRIBUTION IS BACKED BY FIVE ISO-ACCREDITED Environment 48 Sustainability Report 115 MANUFACTURING PLANTS AND TWO GOVERNMENT- Social impact 50 Business Responsibility & Sustainability Report 126 RECOGNIZED IN-HOUSE R&D CENTERS IN NAVI Governance 54 FINANCIAL STATEMENTS Board of Directors 56 MUMBAI AND CHENNAI. Company Information 58 Standalone Financial Statements 168 Ten Years - Financials at a Glance 59 Consolidated Financial Statements 242 Scan the QR code To view the report online to know about the www.veedolindia.com company Investor | Annual-reports Brand and market engagement Forward-looking statements Some information in this report may contain forward-looking statements which include statements regarding Company’s expected financial position and results of operations, business plans and prospects NOTICE etc. and are generally identified by forward-looking words such as ‘‘believe,” ‘‘plan,” ‘‘anticipate,” ‘‘continue,” ‘‘estimate,” ‘‘expect,” ‘‘may,” ‘‘will” or other similar words. Forward-looking statements are dependent on assumptions or basis underlying such statements. We have chosen these assumptions or Notice to Members 322 Research and basis in good faith, and we believe that they are reasonable in all material respects. However, we caution that actual results, performances or achievements could differ materially from those expressed or development implied in such forward-looking statements. We undertake no obligation to update or revise any forward- looking statement, whether as a result of new information, future events, or otherwise. 04 Veedol Corporation Limited Corporate Overview 05 Annual Report 2025-26 Who We Are WHO WE ARE Getting to know Veedol Veedol Corporation Limited (formerly Tide Water Oil Co. Today, we operate 5 ISO-accredited manufacturing facilities and 2 government-recognised R&D centres. Our extensive distribution network has a strong and widespread presence across India through a well-established network of depots, distributors, retail (India) Ltd.) manufactures and markets a wide range of outlets and workshops. Supported by robust manufacturing capabilities, a growing international presence and deep market reach, automotive and industrial lubricants, with a presence we deliver innovative products and create sustained value for customers and stakeholders across markets. spanning more than 70 countries. In India, we have been associated with the mobility and industrial sectors since 1928, building a strong legacy founded on technical expertise, trusted customer relationships and an enduring market presence. Our portfolio caters to a diverse OUR ASSOCIATE, SUBSIDIARY AND STEP-DOWN spectrum of applications and includes SUBSIDIARY COMPANIES engine oils for passenger vehicles, two- and three-wheelers, commercial vehicles, tractors and off-highway Veedol Veedol equipment. We also offer gear oils, International International transmission fluids, coolants, brake oils, greases, as well as a wide range FZCO Limited of industrial and specialty lubricants. Developed to meet evolving OEM [formerly Veedol specifications and stringent performance International DMCC] standards, our products are designed Granville Oil to support reliability, efficiency and operational excellence. & Chemicals Over the past two years, our Company Veedol UK Limited has undertaken a focused transformation journey aimed at strengthening our Limited organisational capabilities. Focused efforts have been centred on Veedol enhancing governance frameworks, institutionalising processes and Vision Mission Ireland impro [Showing first 8,000 characters — download PDF for full document]