CHENNAI: After two years of uncertainty and unprecedented business challenges, Kolkata-based lubricant manufacturer Tide Water Oil Co (India) is charting a path of growth. The company, which owns Veedol brand of lubricants, is introducing a new range of products for passenger cars, two-wheelers and commercial vehicles and is trying to increase and improve its reach and services via trusted partner networks in farthest corners of the country.
Keeping its eyes on the future, it is launching an e-fluid range of coolants and transmission oils for the e-vehicle segment. In an interaction with this newspaper, Arijit Basu, executive director of the company, said after two years of uncertainty due to Covid-19 and Ukraine war, it is finally seeing positive green shoots.
“A demand rebound, greater stability in costs as well as raw material supply chains and an overall uptick in positive sentiment is now increasingly evident. In this scenario, sustaining a strong growth momentum will be possible,” said Basu. Elaborating on its growth strategies, Basu said the company now has renewed focus towards strengthening its presence in B2B and OEM business.
Tide Water Oil has an extensive retail distribution network in India with over 500 direct distributors and dealers servicing over 50,000 retail outlets and workshops. “In domestic market, our focus is to expand in potential segments like passenger cars and commercial vehicles, while holding our own in two-wheelers and agri.
Our B2B/OEM side of the business is a key focus area, given vast opportunities and headroom available,” Basu told this newspaper. The firm is pursuing growth in global business by expanding its geographical presence.It has presence in nearly 70 cou ntries in Europe, North and South America, West Asia and Africa as well as in Asia Pacific.