Chennai, October 27th, 2010: The Board of Directors of Wendt (India) Limited, 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 2010.
The Company achieved a top line of Rs.2073 Lacs during the second quarter ended 30th September’2010 which is43% higher than the corresponding period of last year. The domestic turnover recorded an appreciable growth of 51%over the corresponding period of last year resonating with the good performance of Auto, Engineering, Cutting Tool, Steel & other user industries. Accordingly, the half yearly sales has been higher at Rs.3776 Lacs, which is 55% higher than the corresponding period last year.
The profit after tax for the 2nd quarter has been higher by49% at Rs.405 Lacs as compared to Rs. 272 Lacs during the corresponding period last year. Accordingly, the Year To Date profit after tax has been higher by Rs. 728 Lacs, which is 101% higher than the corresponding period last year.
About Murugappa Group
Founded in 1900, the Rs.13617 Crores (USD 3.03 billion) Murugappa Group is one of India’s leading business conglomerates. The Group has 29 businesses including seven 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, EID 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 Mitsui Sumitomo, Foskor, Cargill, Groupe Chimique Tunisien, Winterthur Technology Group and Morgan Crucible. The Group has a wide geographical presence panning 13 states in India and 5 continents.
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.