Wendt India continues its
growth journey with 33%
Topline Growth ; 37% Profit Growth
- Bangalore, 28th October 2011: The Board
of Directors of Wendt (India) Ltd, a Joint Venture between
Wendt GmbH, Germany and Carborundum Universal Ltd of Murugappa
Group have taken on record the unaudited financial results as
reviewed by the Board of Directors for the quarter and half
year ended 30th September’2011.
On a standalone basis, the Company
achieved sales of Rs 2757 lacs during the quarter ended 30th
September’2011 which is 33% higher than the corresponding period
of last year. The domestic turnover recorded a growth of 27% over
the corresponding period of last year resonating with the good
performance of auto, engineering, cutting tool, steel, its user
industry. The export turnover recorded a growth of 61% over the
corresponding period of last year due to higher machine sales.
Accordingly, the half year sales have been higher at Rs 4988 lacs,
32% higher than the corresponding period last year.
The Profit After Tax (PAT) for the
current quarter has been higher by 37% at Rs 555 lacs when compared
to Rs 405 lacs of the corresponding period of previous year.
On a consolidated basis, Company’s
sales stood at Rs 3019 lacs for the current quarter which is 32%
higher than the corresponding period of last year with the Profit
After Tax (PAT) of Rs 600 lacs, being higher by 33% over the
corresponding period last year.
The good results in the form of
revenue and net profit growth has been primarily on account of
higher volumes, operational efficiencies, new products, resulting
into the growth in the Non Super Abrasive business.
About the Murugappa Group
Founded in 1900, the Rs. 17051
Crores (USD 3.8 billion) Murugappa Group is one of India's leading
business conglomerates. The Group has 29 businesses including eight
listed Companies actively 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., Tube Investments of
India Ltd. and Wendt (India) Ltd.
Market leaders in served segments
including Abrasives, Auto Components, Cycles, Sugar, Farm Inputs,
Fertilizers, Plantations, Construction, Bio-products and
Nutraceuticals, the Group has forged strong joint venture alliances
with leading international companies like Groupe Chimique Tunisien,
Foskor, Cargill, Mitsui Sumitomo and Morgan Crucible. The Group has
a wide geographical presence spanning 13 states in India and 5
Renowned brands like BSA, Hercules,
Ballmaster, Ajax, Parry’s, Gromor and Paramfos are from the
Murugappa stable. The organization fosters an environment of
professionalism and has a workforce of over 32,000 employees.
For further queries, contact
Vinod Kumar / Diya Kinger
Ogilvy Public Relations Worldwide
Mobile : 9840126179 / 8939623044
CEO, Wendt India
Phone : 04344-405500