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 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.
For further queries, contact
Vinod Kumar / Diya Kinger
Ogilvy Public Relations Worldwide
Mobile : 9840126179 / 8939623044
Rajesh Khanna
CEO, Wendt India
Murugappa Group
Phone : 04344-405500
