Wendt India clocks Q1 standalone PAT at Rs 6.94 crore

Wendt (India): Stock’s return in the last six months: 66% | Number of schemes that held the stock: 3. Three SBI MF schemes such as SBI Contra and SBI Infrastructure Fund held the stock.

Abrasives and precision component manufacturer Wendt India has reported a 29.9 per cent rise on its standalone profit after tax at Rs 6.94 crore for the quarter ending June 30, 2022, the company said on Friday.

The Murugappa Group company had registered standalone profit after tax at Rs 5.34 crore in corresponding quarter previous year.

For the year ending March 31, 2022 standalone PAT was at Rs 27.10 crore, Wendt India said in a BSE filing.

"The company’s operational efficiency measures like elimination of wastes and rejection, improving productivity, developing alternate vendors towards supply chain disruption and focus on cost control led to growth in the profitability,” the company said.

The standalone total income for the quarter under review grew to Rs 43.64 crore, from Rs 38.15 crore recorded same quarter last fiscal. For the year ending March 31, 2022 standalone total income was at Rs 165.56 crore, the company said.

In a statement, the company said it achieved sales of Rs 42.88 crore during the quarter ending June 30, 2022 which was 16 per cent higher than the corresponding quarter previous year.

The domestic sales was at Rs 31.84 crore during the quarter under review 17 per cent higher than last year.

"This is on account of higher sales to almost all users industries like auto, steel, refractories, glass, bearings, blade”, the company said.

In a statement, the company said it achieved sales of Rs 42.88 crore during the quarter ending June 30, 2022 which was 16 per cent higher than the corresponding quarter previous year.

The domestic sales was at Rs 31.84 crore during the quarter under review 17 per cent higher than last year.

"This is on account of higher sales to almost all users industries like auto, steel, refractories, glass, bearings, blade”, the company said. Exports during April-June 2022 quarter went up by 14 per cent to Rs 11.05 crore which majority of shipping was made to the United States, Germany, Italy, Spain.

Wendt India said, its non-executive director, Rajesh Khanna who has been associated with the company for about four decades would be retiring from the Board.

Khanna associated with the company for about four decades and the Board placed on record its appreciation for his long service and contribution to the growth of the company in his executive and non-executive capacity, the statement said.