Tide Water Oil

A debt-free, steadily growing business at reasonable price, is how one can describe Tide Water Oil—a public sector lubricant manufacturer. The company has a technical collaboration with Japanese petroleum major Nippon Oil to manufacture the 'Veedol' brand of lubricants and industrial greases. The company's promoter — the government owned Andrew Yule & Co — has just come out of BIFR. Tide Water's profits have grown at a CAGR of 29% in the last five years, while dividends have risen by 24.6%.