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Wendt India Ltd Consolidated Q2 Sales up by 3% & PAT higher by 9%

Posted On: 2019-10-22 21:59:37

The Board of Directors of Wendt (India) Ltd met today and approved the unaudited financial results for the quarter and half year ended 30th Sept'2019.

On a Standalone basis, the Company achieved sales of Rs.3714 lakhs during the quarter ended 30th Sept'19 which is 6% higher than the corresponding period of last year. The domestic sales have been at Rs.2242 lakhs, which is 9% lower than the corresponding period of last year. This is on account of sluggish demand from Automobile and related sectors like Engineering & Cutting Tools. However, the export was 39% higher than the corresponding period of last year at Rs.1472 lakhs, mainly on account of higher offtake from South Korea, China, Taiwan & US.

Accordingly, the Profit After Tax (PAT) for the current quarter has been lower by 3% at Rs.431 lakhs.

The Company achieved total Sales of Rs 7078 lakhs for the half year ended 30th Sept'19 which is similar to the corresponding period last year with PAT of Rs 816 lakhs, 9% lower than the corresponding period last year.

On a Consolidated basis, Company's sales stood at Rs. 4234 lakhs for the current quarter which is 3% higher than the corresponding period of last year with the PAT of Rs.501 lakhs, which is 9% higher than the corresponding period last year.

The Company achieved total Sales of Rs. 8176 lakhs for the half year ended 30th Sept'19 which is similar to the corresponding period last year with PAT of Rs. 860 lakhs, which is 14% lower than the corresponding period last year.

Mr. K. Srinivasan would be stepping down as a Director from the Board effective closing hours of 22nd November 2019 in view of his retirement as the Managing Director of Carborundum Universal Ltd (CUMI) on that date. Consequently, based on the recommendation of the Nomination and Remuneration Committee, the Board has appointed Mr. N. Ananthaseshan as a Director in his place effective 23rd November 2019.

Shares of WENDT (INDIA) LTD. was last trading in BSE at Rs.3024.7 as compared to the previous close of Rs. 3105.15. The total number of shares traded during the day was 50 in over 10 trades.

The stock hit an intraday high of Rs. 3075 and intraday low of 3024.7. The net turnover during the day was Rs. 151996.

Source: Equity Bulls

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