Wendt India Q4 net jumps 56% to ₹12.45 cr. on higher sales

April 21, 2023 07:53 pm | Updated 07:53 pm IST - CHENNAI

Wendt India Ltd. has reported a 56% increase in standalone net profit for the fourth quarter ended March to ₹12.45 crore from the year-earlier period on higher sales, better product mix, continued focus on operational efficiency measures and cost control.

During the quarter, revenue from operations rose 25% to ₹56 crore on higher sales to major user industries such as auto, auto ancillaries, steel, bearings, ceramics, cutting tools and engineering, the Murugappa group firm said in a regulatory filing.

Segment-wise, while the revenue from super abrasives rose 44% to ₹38 crore, machine and accessories contracted to ₹10 crore from ₹11 crore and that of precision products remained flat at ₹6.50 crore.

Exports income increased 34% to ₹53 crore due to increase in sales to countries such as the U.S., Russia, U.K., Germany, Italy and Korea among others.

Wendt’s wholly owned subsidiary in Thailand, Wendt Grinding Technologies Ltd., achieved sales of ₹20 crore and net profit of ₹2 crore.

The board recommended a final dividend of ₹50 per share to be paid by August 11. Earlier, it had paid an interim dividend of ₹30 per share for FY23.

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