Bangalore, 23rd January 2019: The Board of Directors of Wendt (India) Ltd met today and approved the unaudited financial results for the quarter and nine months period ended 31st Dec’2018.
On a standalone basis, the Company achieved sales of Rs.3643lakhs during the quarter ended 31st Dec’2018 which is 17% higher than the corresponding period of last year. The domestic sales have been at Rs.2463 lakhs, which is 18% higher than the corresponding period of last year. The major industry segments which attributed to the growth of the domestic business were auto ancillaries, steel, bearings, ceramics, cutting tools etc. The export was15%higher than the corresponding period of last year at Rs.1180 lakhs. This was due to higher sales to Germany, South Korea, Indonesia, Thailand, UK, Taiwan etc.
The Profit After Tax (PAT) for the current quarter has been higher by 51% at Rs.410 lakhs. The good results in the form of revenue and net profit growth has been primarily on account of higher volumes, operational efficiencies, and product mix.
Accordingly, for the nine months ended 31st Dec’2018, the Company achieved total sales of Rs 10803 lakhs, which is 18% higher than the corresponding period last year with PAT of Rs 1305 lakhs, higher by 98% over the corresponding period last year.
On a consolidated basis, Company’s sales stood at Rs.4285 lakhs for the current quarter which is 19% higher than the corresponding period of last year with the PAT of Rs.544lakhs, which is 65% higher than the corresponding period last year.
Accordingly, for the nine months ended 31st Dec’2018, the Company achieved total sales of Rs 12542 lakhs which is 19% higher than the corresponding period last year with PAT of Rs 1541 lakhs, higher by 87% over the corresponding period last year.
In line with the previous years, the Board of Directors are pleased to declare an interim dividend of Rs 15 /- per share (150% on face value of equity shares of Rs 10/- each.) to the shareholders of the company.
About Murugappa Group
Founded in 1900, the INR 329 Billion (32,893 Crores) Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including nine listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd., TI Financial Holdings Ltd and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Transmission systems, Cycles, Sugar, Farm Inputs, Fertilisers, Plantations, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies such as Groupe ChimiqueTunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, Sociedad Química y Minera de Chile (SQM),Yanmar& Co. and Compagnie Des Phosphat De Gafsa (CPG). The Group has a wide geographical presence all over India and spanning 6 continents.
Renowned brands like BSA, Hercules, Montra, Mach City, Ballmaster, Ajax, Parry’s, Chola, Gromor, Shanthi Gears and Paramfos are from the Murugappa stable. The Group fosters an environment of professionalism and has a workforce of over 35,000 employees.
For more details, visit www.murugappa.com