Wendt India Performance – Q1 FY 2015-16

 

Bangalore, 23 July 2015 : 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 ended 30th June 2015.

On a standalone basis, the Company achieved sales of rs2597 lacs during the quarter ended 30th June 2015 which is 9% higher than the last year’s level. The domestic sales has been at INR 1893 lacs, which is 10% higher than the corresponding period of last year. The major industry segments which attributed to the growth of the domestic business were auto, auto component, engineering, cutting tools, glass, refractories, defence etc. The export sales demonstrated a growth of 7% over the corresponding period of last year and was at   rs704 lacs. This was due to higher sales to Germany, Singapore, Indonesia, Malaysia, USA etc.

The Profit Before Tax (PBT) for the current quarter has been higher by 11% at rs308 lacs over the corresponding period of previous year.

On a consolidated basis,  Company’s sales stood at
rs3114 lacs for the current quarter which is 9% higher than the corresponding period of last year with the PBT of rs432 lacs, which is 8% higher than the corresponding period last year. Accordingly, the PAT is lower by 10% at rs289 lacs over the corresponding quarter previous year.

About Murugappa Group

Founded in 1900, the INR 269 Billion 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., and Wendt (India) Ltd.

Market leaders in served segments including Abrasives, Auto Components, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Crucible and Sociedad Química y Minera de Chile (SQM). The Group has a wide geographical presence spanning 13 states in India and 6 continents.

Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Chola, Gromor and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees.