Wendt India

Your results on : Equity | News | Corporate-Results

Wendt India

(08:51, 22 Oct 2024)

Consolidated net sales (including other operating income) of Wendt India for the quarter ended Sep 2024 has increased 9.14% to Rs 55.66 crore. Operating profit margin has declined from 24.41% to 22.76%, leading to 1.77% rise in operating profit to Rs 12.67 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 26.65% to 30.36%. Purchase of finished goods cost fell from 7.92% to 6.07%. Employee cost decreased from 19.67% to 18.57%. Other expenses rose from 21.43% to 23.44%. Other income rose 66.47% to Rs 2.78 crore. PBIDT rose 9.42% to Rs 15.45 crore. Provision for interest remained nil. Provision for depreciation rose 6.57% to Rs 2.27 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 2.47 crore, compared to Rs 3.04 crore. Effective tax rate was 18.77% compared to 25.35%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 19.44% to Rs 10.69 crore.

Sales of Super Abrasives segment has gone up 12.59% to Rs 38.01 crore (accounting for 68.68% of total sales). Sales of Machines Accessories and components segment has gone up 12.87% to Rs 5.79 crore (accounting for 10.46% of total sales). Sales of Others segment rose 4.43% to Rs 4.24 crore (accounting for 7.66% of total sales). Sales of Precision Products segment has gone down 2.01% to Rs 7.30 crore (accounting for 13.19% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 1.33% to Rs 10.66 crore. PBIT of Super Abrasives segment rose 9.95% to Rs 8.95 crore (accounting for 83.96% of total PBIT). PBIT of Machines Accessories and components segment fell 71.30% to Rs 0.31 crore (accounting for 2.91% of total PBIT). PBIT of Others segment fell 22.22% to Rs 0.28 crore (accounting for 2.63% of total PBIT). PBIT of Precision Products segment rose 19.15% to Rs 1.12 crore (accounting for 10.51% of total PBIT).
PBIT margin of Super Abrasives segment fell from 24.11% to 23.55%. PBIT margin of Machines Accessories and components segment fell from 21.05% to 5.35%. PBIT margin of Others segment fell from 8.87% to 6.60%. PBIT margin of Precision Products segment rose from 12.62% to 15.34%. Overall PBIT margin fell from 20.87% to 19.26%.

For year-to-date (YTD) results analysis.

Net sales (including other operating income) of Wendt India has increased 2.41% to Rs 104.72 crore. Sales of Super Abrasives segment has gone up 6.30% to Rs 71.20 crore (accounting for 67.07% of total sales). Sales of Machines Accessories and components segment has gone up 20.07% to Rs 13.10 crore (accounting for 12.34% of total sales). Sales of Others segment rose 2.82% to Rs 8.75 crore (accounting for 8.24% of total sales). Sales of Precision Products segment has gone down 12.25% to Rs 13.11 crore (accounting for 12.35% of total sales).

Profit before interest, tax and other unallocable items (PBIT) has slumped 8.40% to Rs 19.30 crore. PBIT of Super Abrasives segment rose 7.86% to Rs 16.47 crore (accounting for 85.34% of total PBIT). PBIT of Machines Accessories and components segment fell 76.89% to Rs 0.52 crore (accounting for 2.69% of total PBIT). PBIT of Others segment fell 26.37% to Rs 0.67 crore (accounting for 3.47% of total PBIT). PBIT of Precision Products segment fell 37.88% to Rs 1.64 crore (accounting for 8.50% of total PBIT).

PBIT margin of Super Abrasives segment rose from 22.80% to 23.13%. PBIT margin of Machines Accessories and components segment fell from 20.62% to 3.97%. PBIT margin of Others segment fell from 10.69% to 7.66%. PBIT margin of Precision Products segment fell from 17.67% to 12.51%. Overall PBIT margin fell from 20.79% to 18.18%.

Operating profit margin has declined from 24.30% to 22.17%, leading to 6.56% decline in operating profit to Rs 23.22 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 26.39% to 27.47%. Purchase of finished goods cost rose from 7.27% to 8.11%. Employee cost increased from 18.86% to 19.33%. Other expenses rose from 23.29% to 23.46%.

Other income rose 35.92% to Rs 4.73 crore. PBIDT fell 1.34% to Rs 27.95 crore. Provision for interest remained nil. Loan funds remained nil. Inventories rose to Rs 37.93 crore as of 30 September 2024 from Rs 34.60 crore as of 30 September 2023. Sundry debtors were lower at Rs 40.57 crore as of 30 September 2024 compared to Rs 41.56 crore as of 30 September 2023. Cash and bank balance declined from Rs 20.33 crore as of 30 September 2023 to Rs 19.14 crore as of 30 September 2024. Investments rose to Rs 91.64 crore as of 30 September 2024 from Rs 68.81 crore as of 30 September 2023 .

PBDT fell 1.45% to Rs 27.92 crore. Provision for depreciation rose 6.44% to Rs 4.46 crore. Fixed assets increased to Rs 64.37 crore as of 30 September 2024 from Rs 57.88 crore as of 30 September 2023. Intangible assets declined from Rs 0.35 crore to Rs 0.10 crore.

Profit before tax down 2.82% to Rs 23.46 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 5.09 crore, compared to Rs 6.17 crore. Effective tax rate was 21.70% compared to 25.56%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 2.23% to Rs 18.37 crore.

Equity capital stood at Rs 2.00 crore as of 30 September 2024 to Rs 2.00 crore as of 30 September 2023. Per share face Value remained same at Rs 10.00.

Promoters’ stake was 75.00% as of 30 September 2024 ,compared to 75.00% as of 30 September 2023 .

Cash flow from operating activities increased to Rs 25.63 crore for YTD ended September 2024 from Rs 15.32 crore for YTD ended September 2023. Cash flow used in acquiring fixed assets during the YTD ended September 2024 stood at Rs 8.48 crore, compared to Rs 7.43 crore during the YTD ended September 2023.

Wendt India : Consolidated Results

	Quarter ended			Year to Date			Year ended
Particulars	202409	202309	Var.(%)	202409	202309	Var.(%)	202403	202303	Var.(%)
Net Sales (including other operating income)	55.66	51.00	9.14	104.72	102.26	2.41	226.83	210.24	7.89
OPM (%)	22.76	24.41	-165 bps	22.17	24.30	-213 bps	24.53	26.71	-218 bps
OP	12.67	12.45	1.77	23.22	24.85	-6.56	55.64	56.16	-0.93
Other Inc.	2.78	1.67	66.47	4.73	3.48	35.92	7.12	4.99	42.69
PBIDT	15.45	14.12	9.42	27.95	28.33	-1.34	62.76	61.15	2.63
Interest	0.02	0	-	0.03	0	-	0	0.02	-
PBDT	15.43	14.12	9.28	27.92	28.33	-1.45	62.76	61.13	2.67
Depreciation	2.27	2.13	6.57	4.46	4.19	6.44	8.55	8.11	5.43
PBT	13.16	11.99	9.76	23.46	24.14	-2.82	54.21	53.02	2.24
Share of Profit/(Loss) from Associates	0	0	-	0	0	-	0	0	-
PBT before EO	13.16	11.99	9.76	23.46	24.14	-2.82	54.21	53.02	2.24
EO Income	0	0	-	0	0	-	0	0	-
PBT after EO	13.16	11.99	9.76	23.46	24.14	-2.82	54.21	53.02	2.24
Taxation	2.47	3.04	-18.75	5.09	6.17	-17.50	13.26	12.93	2.55
PAT	10.69	8.95	19.44	18.37	17.97	2.23	40.95	40.09	2.15
Minority Interest (MI)	0	0	-	0	0	-	0	0	-
Net profit	10.69	8.95	19.44	18.37	17.97	2.23	40.95	40.09	2.15
P/(L) from discontinued operations net of tax	0	0	-	0	0	-	0	0	-
Net profit after discontinued operations	10.69	8.95	19.44	18.37	17.97	2.23	40.95	40.09	2.15
EPS (Rs)*	53.45	44.75	19.44	91.85	89.85	2.23	204.75	200.45	2.15

* EPS is on current equity of Rs 2.00 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

Wendt India : Consolidated Segment Results

td>-

	Quarter ended				Year to Date				Year ended
	% of (Total)	202409	202309	Var.(%)	% of (Total)	202409	202309	Var.(%)	% of (Total)	202403	202303	Var.(%)
Sales
Super Abrasives	68.68	38.01	33.76	12.59	67.07	71.20	66.98	6.30	59.19	133.15	135.99	-2.09
Machines Accessories and components	10.46	5.79	5.13	12.87	12.34	13.10	10.91	20.07	21.04	47.32	27.76	70.46
Others	7.66	4.24	4.06	4.43	8.24	8.75	8.51	2.82	7.62	17.14	15.69	9.24
Precision Products	13.19	7.30	7.45	-2.01	12.35	13.11	14.94	-12.25	12.15	27.33	28.63	-4.54
Total Reported Sales	100.00	55.34	50.40	9.80	100.00	106.16	101.34	4.76	100.00	224.94	208.07	8.11
Less: Inter segment revenues		0.00	0.00	-		0.00	0.12		0.00	0.00	-
Net Sales	100.00	55.34	50.40	9.80	100.00	106.16	101.22	4.88	100.00	224.94	208.07	8.11
PBIT
Super Abrasives	83.96	8.95	8.14	9.95	85.34	16.47	15.27	7.86	65.79	31.14	35.28	-11.73
Machines Accessories and components	2.91	0.31	1.08	-71.30	2.69	0.52	2.25	-76.89	23.47	11.11	4.31	157.77
Others	2.63	0.28	0.36	-22.22	3.47	0.67	0.91	-26.37	2.30	1.09	2.19	-50.23
Precision Products	10.51	1.12	0.94	19.15	8.50	1.64	2.64	-37.88	8.43	3.99	6.89	-42.09
Total PBIT	100.00	10.66	10.52	1.33	100.00	19.30	21.07	-8.40	100.00	47.33	48.67	-2.75
Less : Interest		0.00	0.00	-		0.00	0.00	-		0.00	0.02	-
Add: Other un-allcoable		2.50	1.47	70.07		4.16	3.07	35.50		6.28	4.37	43.71
PBIT Margin(%)
Super Abrasives		23.55	24.11	-56.49		23.13	22.80	33.42		23.39	25.94	-255.59
Machines Accessories and components		5.35	21.05	-1,569.86		3.97	20.62	-1,665.38		23.48	15.53	795.25
Others		6.60	8.87	-226.32		7.66	10.69	-303.62		6.36	13.96	-759.85
Precision Products		15.34	12.62	272.50		12.51	17.67	-516.11		14.60	24.07	-946.63
PBT	100.00	13.16	11.99	9.76	100.00	23.46	24.14	-2.82	100.00	53.61	53.02	1.11

Top