Bangalore, 27 January 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 31st December 2014.
On a standalone basis, the Company achieved sales of 2470 lacs during the quarter ended 31st December 2014 which is 14% higher than the last year’s level. The domestic sales has been at
1884 lacs, which is 21% higher than the corresponding period of last year, due to increased sales to the user industry segments like auto, engineering, ceramics, glass, refractory etc. The export sales ended lower by 4% over the corresponding period of last year and was at
586 lacs due to economic slowdown in Russia, Indonesia, Malaysia, Singapore etc.
The Profit After Tax (PAT) for the current quarter has been lower by 14% at 164 lacs over the corresponding period of previous year. The lower profit is due to the higher depreciation charge on account of the revised useful life of the assets.
On a consolidated basis, Company’s sales stood at 2963 lacs for the current quarter which is 16% higher than the corresponding period of last year with the Profit After Tax (PAT) of
238 lacs, being 5% lower to the corresponding period last year.
In line with the earlier year, the Board of Directors are pleased to recommend an interim dividend of 10/- per share (100% on face value of equity shares of
10/- each.)
About Murugappa Group
Founded in 1900, the INR 243 Billion Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including ten 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., Sabero Organics 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 like Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, Sociedad Química y Minera de Chile (SQM), Yanmar & Co. and 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, Ballmaster, Ajax, Parry’s, Chola, Gromor, Shanthi Gears and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees.
Caution Notice
The public is hereby cautioned that it has been brought to our notice that certain unscrupulous persons/agencies are issuing fake sanction letters to customers and getting their signatures in fake loan agreements purporting to be a loan sanction letter & loan agreement of Murugappa Group and such persons /agencies are attempting to extort money by demanding security deposit/processing fee/insurance fee from the gullible customers for processing the required loan etc. In the aforesaid documents, those unscrupulous persons/agencies are also using the registered logo and name of Murugappa Group against law with intent to gain wrongfully by using the goodwill and reputation of the Group.
Please be informed that Murugappa Group is not a separate legal entity and never requires any customers to pay any advance money or deposit for loan sanctioning. Public is cautioned not to rely or act on any such fraudulent sanction/offer made in the name of Murugappa Group without verifying the authenticity of the contents.
Customers who are interested in availing loans may directly contact any of the nearest branch of Cholamandalam Investment and Finance Company Limited (Cholamandalam) a constituent of our group for further details or get in touch with us at 1800 200 4565 or alternatively email at customercare@chola.murugappa.com, or SMS at 9500000312.
MURUGAPPA GROUP