Wendt India Ltd Announces Q3 Results
Chennai, January 25, 2010: Wendt India ltd , a joint venture of Carborundum Universal Ltd (CUMI) of Murugappa group & Wendt GmbH of Winterthur Technology Group, Zurich during the quarter ended 31st Dec 09 achieved a top line growth of 18% in Sales and 84% growth in PAT compared to last year corresponding quarter. For the period nine months ended 31st Dec 09, the top line was Rs 39.58 crs and profit after tax was Rs 6.75 crs maintaining the same top line and recording 14% growth in bottom line compared to previous year corresponding period.
The Company has signed Technology Transfer agreement with Delapena Honing Equipment Ltd, a Company incorporated in England and having its office at The Runnings, Cheltenham, Gloucestershire, England, UK, the leaders in the field of Honing Machines & Toolings. This agreement enables Wendt India to manufacture a range of Delapena Honing machines in India and Brand, Market, Sell and Service these machines in India, Middle East (including United Arab Emirates, Iran, Turkey) and Thailand.
Wendt India who are today the leaders in the field of Super abrasive grinding and honing tools, with above tie up would now become the total Grinding & Honing Solution provider to the entire industry segment as diverse as Automobile, Aeronautical, Railways, Engineering, Defense and Precision Hard Metal & Ceramic components. Honing is the precision bore finishing operation which is necessarily carried out on the circular bore components which requires the relative motion like cylinder bores, Connecting rods, Rocker arms of Automotive (4 wheelers & 2 wheeler), Railway locomotive engines, Earth moving equipments, Generator engines, to name a few. Honing also finds its application with precision components where the Length to Bore Diameter ratio is high like in Hydraulic and Pneumatic cylinder , Oil exploration tubing’s, Earth Moving Equipments, Gun Barrels etc.
With its undisputed leadership in the super abrasive tools to above segment of Industry, this tie up has opened up new business opportunity for Wendt India, with the addition of Honing Machines in their Precision SPMs & Grinding Machines portfolio.
About Murugappa Group
Headquartered in Chennai, the Rs. 15,907 crores (USD 3.14 billion) Murugappa Group is one of India’s leading business conglomerates. Market leaders in diverse areas of business including Engineering, Abrasives, Finance, General Insurance, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Bio-products and Nutraceuticals, its 29 companies have manufacturing facilities spread across 13 states in India. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees. The Group has forged strong joint venture alliances with leading international companies like DBS Bank, Mitsui Sumitomo, Foskor, Cargill and Groupe Chimique Tunisien has consolidated its status as one of the fastest growing diversified business houses in India.
About Wendt India Ltd
A joint venture with Wendt Gmbh, Germany, Wendt (India) manufactures world renowned range of Diamond / CBN grinding tools and machines for cutting tools and wire rod mills, as well as a comprehensive range of diamond / CBN products that cater to virtually every segment of the engineering industry.Wendt provides grinding solutions to industries as diverse as automobile, ceramics, carbide HSS cutting tools, glass, refractories, machine tools, steel, watch, aerospace, engineering and many more. Wendt technological superiority comes from its international heritage and access to the latest technology.
