Wendt India performance – Q3 FY 2015-16

 

Chennai, 25th January 2016 : 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 nine months ended 31st December 2015.

On a standalone basis, the Company achieved sales of rs2814 lacs during the quarter ended 31st December 2015, which is 14% higher than the last year’s level. The domestic sales has been at rs2066 lacs, which is 10% higher than the corresponding period of last year, due to increased sales to the user industry segments like steel, engineering, refractory, cutting tools, glass etc. The export sales has been at rs748 lacs which is 28% higher than the corresponding period of last year, due to increased sales to countries like Russia, USA, Indonesia, Switzerland, Singapore, UK etc.

The Profit After Tax (PAT) for the current quarter has been higher by 17% at rs192 lacs over the corresponding period of previous year. The good results in the form of revenue and net profit growth, has been primarily on account of higher volumes, operational efficiencies and new products development.

On a consolidated basis, Company’s sales stood at rs3272 lacs for the current quarter, which is 12% higher than the corresponding period of last year, with the Profit After Tax (PAT) of rs250 lacs being 5% higher than the corresponding period last year.

In line with earlier years, the Board of Directors are pleased to recommend an interim dividend of rs10/- per share (100% on face value of equity shares of rs10/- each.)

About Murugappa Group

Founded in 1900, the rs269 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., Parry Sugar industries Ltd, Shanthi Gears Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd.

Market leaders in served segments including Abrasives, Auto Components, Transmission systems, Cycles, Sugar, Farm Inputs, Fertilisers, Plantations, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies such as Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, Sociedad Química y Minera de Chile (SQM), Yanmar & Co. and Compagnie Des Phosphat De Gafsa (CPG). The Group has a wide geographical presence all over India and spanning 6 continents.

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