Wendt India Ltd Standalone Q3, 2018 Sales Up by 17 Percent & PAT Up by 51 Percent

The Board of Directors of Wendt (India) Ltd has approved the unaudited financial results for the quarter and nine months period ended 31st Dec’2018.

On a standalone basis, the Company achieved sales of Rs.3643 lakhs during the quarter ended 31st Dec’2018 which is 17% higher than the corresponding period of last year. The domestic sales have been at Rs.2463 lakhs, which is 18% higher than the corresponding period of last year. The major industry segments which attributed to the growth of the domestic business were auto ancillaries, steel, bearings, ceramics, cutting tools etc. The export was 15% higher than the corresponding period of last year at Rs.1180 lakhs. This was due to higher sales to Germany, South Korea, Indonesia, Thailand, UK, Taiwan etc.

The Profit After Tax (PAT) for the current quarter has been higher by 51% at Rs.410 lakhs.  The good results in the form of revenue and net profit growth has been primarily on account of higher volumes, operational efficiencies, and product mix.

Accordingly, for the nine months ended 31st Dec’2018, the Company achieved total sales of Rs 10803 lakhs, which is 18% higher than the corresponding period last year with PAT of Rs 1305 lakhs, higher by 98% over the corresponding period last year.

On a consolidated basis, Company’s sales stood at Rs. 4285 lakhs for the current quarter which is 19% higher than the corresponding period of last year with the PAT of Rs.544 lakhs, which is 65% higher than the corresponding period last year.

Accordingly, for the nine months ended 31st Dec’2018, the Company achieved total sales of Rs 12542 lakhs which is 19% higher than the corresponding period last year with PAT of Rs 1541 lakhs, higher by 87% over the corresponding period last year.

In line with the previous years, the Board of Directors are pleased to declare an interim dividend of Rs 15 /- per share (150% on face value of equity shares of Rs 10/- each.) to the shareholders of the company.