The Board of Directors of Wendt (India) Ltd met today and approved the unaudited financial results for the quarter and nine months ended 31st Dec'2019.
On a Standalone basis, the Company achieved sales of Rs.2741 lakhs during the quarter ended 31st Dec'19 at 25% lower level than the corresponding period of last year. This is on account of sluggish demand from almost all major user industries like automobile, steel, engineering, cutting tools and refractories on the domestic front and also lower offtake from global customers due to continued industrial slow down.
Accordingly, the Profit After Tax (PAT) for the current quarter has been lower by 45% at Rs.227 lakhs.
The Company achieved total Sales of Rs 9819 lakhs for the nine months ended 31st Dec'19 which is 9% lower than the corresponding period last year with PAT of Rs 1043 lakhs, 20% lower than the corresponding period last year.
On a Consolidated basis, Company's sales stood at Rs. 3316 lakhs for the current quarter which is 23% lower than the corresponding period of last year with the PAT of Rs.220 lakhs, which is 60% lower than the corresponding period last year.
However, the Company achieved total Sales of Rs. 11492 lakhs for the nine months ended 31st Dec'19 which is 8% lower than the corresponding period last year and PAT of Rs. 1080 lakhs, which is 30% lower than the corresponding period last year.
The Board of Directors decided to not declare an interim dividend at this meeting.
Shares of WENDT (INDIA) LTD. was last trading in BSE at Rs.2870 as compared to the previous close of Rs. 2819. The total number of shares traded during the day was 12 in over 10 trades.
The stock hit an intraday high of Rs. 2870 and intraday low of 2816. The net turnover during the day was Rs. 33900.