Wendt India Performance – Q2 FY 2015-16

 

Chennai, 23 October 2015 : The Board of Directors of Wendt (India) Ltd, have taken on record the unaudited financial results as reviewed by the Board of Directors for the quarter and half year ended 30th September 2015.

On a standalone basis, the Company achieved sales of rs3041 lacs during the quarter ended 30th September 2015 which is 12% higher than the corresponding quarter last year. The domestic sales of rs2209 lacs, demonstrated a growth of 8%. This has been due to increased sales to the user industry segments like steel, cutting tools, refractory, engineering, automobile etc. The export sales of rs833 lacs, demonstrated a growth of 23% over the corresponding period of last year. This has been on the account of higher sales to countries such as USA, UK, Switzerland, Russia, Korea, Indonesia and Singapore.

However, the Profit After Tax (PAT) for the current quarter has been lower by 8% at rs422 lacs over the corresponding period of previous year. This is on account of product mix attributed to the growth in machines and components business vis-à-vis super-abrasives and lower other income.

On a consolidated basis, Company’s sales stood at
rs3487 lacs for the current quarter which is 8% higher than the corresponding period of last year with the Profit After Tax (PAT) of rs321 lacs, 10% lower than the corresponding period last year.

On a standalone basis, for the half year, the Company achieved total sales of rs5638 lacs which is higher by 11% over the corresponding period last year with PAT of rs600 lacs, 11% lower than the corresponding period last year.

On a consolidated basis, for the half year, the Company achieved a sales of rs6601 lacs which is higher by 9% over the corresponding period last year with PAT of
rs610 lacs, 10% lower than the corresponding period last 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.