The Board of Directors of Wendt (India) Ltd. approved the unaudited financial results for the quarter ended 30th June’2022.

Standalone results:

On a standalone basis, the company achieved sales of Rs. 4288 lakhs during the quarter ended 30th June’22, which is 16% higher than the corresponding quarter previous year (YoY). The domestic sales was Rs. 3184 lakhs during the quarter ended 30 th June’22, which is higher by 17% than the corresponding quarter previous year. This is on account of higher sales to almost all user industries like auto, steel, refractories, glass, bearings, blade, ceramics, etc.

Exports was Rs. 1105 lakhs during the quarter ended 30th June’22, which is higher by 14% over the corresponding quarter previous year. This is on account of higher exports to USA, Germany, Italy, Spain, etc.

The company’s operational efficiency measures like elimination of wastes and rejection, improving productivity, developing alternate vendors towards supply chain disruption, and focus on cost control has led to growth in the profitability. Accordingly, the Profit After Tax (PAT) for the current quarter is Rs. 694 lakhs, which is higher by 30% over the corresponding quarter previous year (YoY).

On a sequential basis (QoQ), the standalone sales for the quarter ended 30th June’22 is lower by 2% with PAT lower by 13% against quarter ended 31st March’22 of the previous year.

Consolidated results:

On a consolidated basis, company’s sales stood at Rs. 4750 lakhs for the current quarter which is 13% higher than corresponding quarter previous year (YoY) with the PAT of Rs. 723 lakhs, which is 21% higher than the corresponding quarter previous year.

On a Sequential basis (QoQ), the Consolidated sales for the quarter ended 30th June’22 is similar with the PAT lower by 3% against Quarter ended 31st March’22 of the previous year.

Mr. Rajesh Khanna, Non-Executive Director of the company, will be retiring from the Board at the 40th Annual General Meeting held recently. Mr. Khanna has been associated with the company for about 4 decades and the Board placed on record its appreciation for his long service and contribution to the growth of the company in his executive and non-executive capacity.