Monday, May 27 2024 | Time 06:46 Hrs(IST)
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Business Economy


Chennai, Apr 25 (UNI) The Board of Directors of Wendt (India) Ltd, part of Murugappa Group, met
on Thursday and approved the audited financial results for the quarter and year ended March 31, 2024.
On a Standalone basis, the company achieved sales of Rs. 20,626 lakhs during the year which is 8%
higher than the previous year.
The domestic sales recorded Rs. 15,682 lakhs which is higher by 14 % than the previous year. This
is on account of higher sales to major user industries like auto, auto ancillaries, steel, bearings,
ceramics, cutting tools, engineering etc.
Exports was Rs. 4,944 lakhs during the year, which lower by 7 % over the previous year. The exports
were lower due to geopolitical uncertainties and recession across majority of the countries, a
company release said.
Accordingly, the Profit After Tax (PAT) for the current year is Rs. 3,950 lakhs, which is 2 % lower
than the previous year. The decrease in profit is primarily due to change in product mix and
increase in cost.
The company achieved total sales of Rs. 6,492 lakhs for the quarter ended March 31, 2024,
which is 21% higher than the corresponding quarter previous year with PAT of Rs.1,309 lakhs,
which is 5% higher than the corresponding quarter last year.
On a Consolidated basis, Company’s sales stood at Rs. 22,482 lakhs for the current year, which
is 8% higher than the previous year with the PAT of Rs. 4,095 lakhs, which is 2% higher than the
previous year.
The Company achieved Sales of Rs. 6,947 lakhs for the quarter which is 22% higher than the
corresponding quarter previous year and PAT of Rs. 1,338 lakhs, which is 5% higher than the
previous year.
The Company’s wholly owned subsidiary in Thailand, Wendt Grinding Technologies Ltd,
achieved sales of Rs. 2,145 lakhs during the year with the PAT of Rs. 164 lakhs.
The Board of Directors have recommended final dividend of Rs. 20 /- per share (200 % on face
value of equity shares of Rs 10/- each) out of the current year’s profits. The payment of dividend
is subject to the approval of shareholders in ensuing Annual General Meeting of the company to
be held on July 22.
With the Company having declared an interim dividend of Rs. 30 per share (300 % on face value
of equity shares of Rs 10 each) at its Board Meeting held on January 19, 2024, the total dividend
for the year ended March 31, 2024 is Rs. 50 per share (500 % of the face value of equity shares
of Rs. 10 each).
UNI GV 1830
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