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Results
22-Jan-22
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Analysis
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Wendt India
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Strong all-round show
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Consolidated net sales (including other operating income) of Wendt India for
the quarter ended Dec 2021 has increased 15.24% to Rs 41.22 crore. Operating
profit margin has jumped from 19.07% to 21.54%, leading to 30.21% rise in
operating profit to Rs 8.88 crore. Raw material cost as a % of total
sales (net of stock adjustments) decreased from 24.98% to 24.77%.
Purchase of finished goods cost rose from 8.60% to 9.36%.
Employee cost decreased from 22.01% to 20.44%. Other
expenses fell from 25.32% to 23.85%. Other income fell 7.34% to Rs
1.01 crore. PBIDT rose 25.03% to Rs 9.89 crore. Provision
for interest remained nil. PBDT rose 24.91% to Rs 9.88
crore. Provision for depreciation fell 5.41% to Rs 2.1
crore. Profit before tax grew 36.73% to Rs 7.78
crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 2.22 crore, compared to
Rs 1.42 crore. Effective tax rate was 28.53% compared to 24.96%. Minority
interest was nil in both the periods. Net profit attributable to
owners of the company increased 30.21% to Rs 5.56 crore.
Sales of Super Abrasives segment has gone up 14.86% to Rs 27.06 crore
(accounting for 66.67% of total sales). Sales of Machines
Accessories and components segment has gone up 18.25% to Rs 9.33 crore
(accounting for 22.99% of total sales). Sales of Others segment rose
9.95% to Rs 4.20 crore (accounting for 10.35% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has
jumped 23.83% to Rs 8.47 crore. PBIT of Super Abrasives segment rose
19.27% to Rs 5.57 crore (accounting for 65.76% of total PBIT). PBIT
of Machines Accessories and components segment rose 67.42% to Rs 2.21 crore
(accounting for 26.09% of total PBIT). PBIT of Others segment fell
18.82% to Rs 0.69 crore (accounting for 8.15% of total PBIT).
PBIT margin of Super Abrasives segment rose from 19.82% to
20.58%. PBIT margin of Machines Accessories and components segment
rose from 16.73% to 23.69%. PBIT margin of Others segment fell from
22.25% to 16.43%. Overall PBIT margin rose from 19.39% to
20.87%.
Nine-month performance
Consolidated net sales (including other operating income) of Wendt India has
increased 44.02% to Rs 131.06 crore. Sales of Super Abrasives
segment has gone up 49.78% to Rs 86.38 crore (accounting for 66.77% of total
sales). Sales of Machines Accessories and components segment has
gone up 28.35% to Rs 29.20 crore (accounting for 22.57% of total
sales). Sales of Others segment rose 45.31% to Rs 13.79 crore
(accounting for 10.66% of total sales).
Profit before interest, tax and other
unallocable items (PBIT) has jumped 125.29% to Rs 29.31 crore. PBIT
of Super Abrasives segment rose 148.89% to Rs 20.21 crore (accounting for
68.95% of total PBIT). PBIT of Machines Accessories and components
segment rose 109.87% to Rs 6.38 crore (accounting for 21.77% of total
PBIT). PBIT of Others segment rose 47.03% to Rs 2.72 crore
(accounting for 9.28% of total PBIT).
PBIT margin of Super Abrasives segment
rose from 14.08% to 23.40%. PBIT margin of Machines Accessories and
components segment rose from 13.36% to 21.85%. PBIT margin of Others
segment rose from 19.49% to 19.72%. Overall PBIT margin rose from
14.47% to 22.66%.
Operating profit margin has jumped from 14.66% to 23.10%, leading to
126.91% rise in operating profit to Rs 30.27 crore. Raw material
cost as a % of total sales (net of stock adjustments) increased from 24.47% to
24.50%. Purchase of finished goods cost rose from 8.88% to 11.10%.
Employee cost decreased from 26.19% to 18.97%. Other expenses
fell from 25.01% to 22.45%.
Other income fell 13.06% to Rs 2.93
crore. PBIDT rose 98.68% to Rs 33.2 crore.
PBDT rose 98.80% to Rs 33.18
crore. Provision for depreciation fell 2.09% to Rs 6.55
crore.
Profit before tax grew 166.30% to Rs 26.63 crore. Share of
profit/loss were nil in both the periods. Provision for tax was
expense of Rs 7.03 crore, compared to Rs 2.53 crore. Effective tax
rate was 26.40% compared to 25.30%.
Minority interest was nil in both the
periods. Net profit attributable to owners of the company increased
162.38% to Rs 19.60 crore.
Promoters’ stake was 75.00% as of 31
December 2021, compared to 79.74% as of 31 December 2020.
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Wendt (India): Consolidated Results
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2112
(3)
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2012
(3)
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Var. (%)
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2112
(9)
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2012
(9)
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Var. (%)
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2103 (12)
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2003 (12)
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Var. (%)
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Sales
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41.22
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35.77
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15
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131.06
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91.00
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44
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136.62
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143.23
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-5
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OPM (%)
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21.5
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19.1
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23.1
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14.7
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16.1
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12.8
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OP
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8.88
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6.82
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30
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30.27
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13.34
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127
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22.00
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18.28
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20
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Other inc.
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1.01
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1.09
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-7
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2.93
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3.37
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-13
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3.96
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4.85
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-18
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PBIDT
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9.89
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7.91
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25
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33.20
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16.71
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99
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25.96
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23.13
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12
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Interest
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0.01
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0.00
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0.02
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0.02
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0
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0.03
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0.03
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0
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PBDT
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9.88
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7.91
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25
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33.18
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16.69
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99
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25.93
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23.10
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12
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Dep.
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2.10
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2.22
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-5
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6.55
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6.69
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-2
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8.93
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9.49
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-6
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PBT before EO
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7.78
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5.69
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37
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26.63
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10.00
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166
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17.00
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13.61
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25
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EO Income
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0.00
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0.00
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0.00
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0.00
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0.00
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0.00
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PBT
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7.78
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5.69
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37
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26.63
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10.00
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166
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17.00
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13.61
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25
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Taxation
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2.22
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1.42
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56
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7.03
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2.53
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178
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4.23
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3.58
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18
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PAT
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5.56
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4.27
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30
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19.60
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7.47
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162
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12.77
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10.03
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27
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EPS (Rs)*
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#
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#
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#
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#
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63.9
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50.1
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*
Annualised on current equity of Rs 2.0
crore. Face Value: Rs 10
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# EPS is not annualised due to
seasonality of business
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Figures in Rs crore
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Source: Capitaline Corporate Database
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Wend (India): Consolidated Segment
Results
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Particulars
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% to total
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2112
(3)
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2012
(3)
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Var. (%)
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% to total
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2112
(9)
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2012
(9)
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Var. (%)
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% to total
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2103 (12)
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2003 (12)
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Var.(%)
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Sales
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Super Abrasives
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67
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27.06
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23.56
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15
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67
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86.38
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57.67
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50
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62
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83.67
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88.10
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-5
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Machines Accessories & Components
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23
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9.33
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7.89
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18
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23
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29.20
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22.75
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28
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28
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38.44
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36.06
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7
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Others
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10
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4.20
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3.82
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10
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11
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13.79
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9.49
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45
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10
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12.95
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16.47
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-21
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Total
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100
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40.59
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35.27
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15
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100
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129.37
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89.91
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44
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100
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135.06
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140.63
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-4
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Less Inter segment revenue
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####
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####
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####
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Net
sales
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40.59
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35.27
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15
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129.37
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89.91
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44
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135.06
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140.63
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-4
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PBIT
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Super Abrasives
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66
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5.57
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4.67
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19
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69
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20.21
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8.12
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149
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63
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13.62
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10.22
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33
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Machines Accessories & Components
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26
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2.21
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1.32
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67
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22
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6.38
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3.04
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110
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26
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5.61
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4.26
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32
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Others
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8
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0.69
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0.85
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-19
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9
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2.72
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1.85
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47
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11
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2.41
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3.88
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-38
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Total
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100
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8.47
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6.84
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24
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100
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29.31
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13.01
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125
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100
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21.64
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18.36
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18
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Less:
Interest (net)
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0.01
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####
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0.02
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0.02
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0
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0.03
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0.03
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0
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Less:
Others Un-allocable Exp/Income (net)
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0.68
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1.15
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-41
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2.66
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2.99
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-11
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4.61
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4.72
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-2
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Add: EO
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PBT
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7.78
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5.69
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37
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26.63
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10.00
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166
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17.00
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13.61
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25
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Previous News |
Wendt India
(
Results
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Analysis
20-Oct-23
08:08
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Wendt India consolidated net profit declines 44.31% in the September 2020 quarter
(
Results
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Announcements
22-Oct-20
14:50
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(
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Announcements
18-Jan-23
14:56
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16:10
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15-Jul-20
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Results
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25-Jul-18
15:38
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(
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09:01
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