Capitaline

Sales of Super Abrasives segment has gone up 21.25% to Rs 32.81 crore (accounting for 64.40% of total sales). Sales of Machines Accessories and components segment has gone up 99.09% to Rs 6.53 crore (accounting for 12.82% of total sales). Sales of Others segment fell 5.24% to Rs 3.98 crore (accounting for 7.81% of total sales). Sales of Precision Products segment has gone up 22.87% to Rs 7.63 crore (accounting for 14.98% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 77.86% to Rs 11.81 crore. PBIT of Super Abrasives segment rose 91.10% to Rs 8.16 crore (accounting for 69.09% of total PBIT). PBIT of Machines Accessories and components segment rose 264.52% to Rs 1.13 crore (accounting for 9.57% of total PBIT). PBIT of Others segment fell 10.14% to Rs 0.62 crore (accounting for 5.25% of total PBIT). PBIT of Precision Products segment rose 38.69% to Rs 1.90 crore (accounting for 16.09% of total PBIT).
PBIT margin of Super Abrasives segment rose from 15.78% to 24.87%. PBIT margin of Machines Accessories and components segment rose from 9.45% to 17.30%. PBIT margin of Others segment fell from 16.43% to 15.58%. PBIT margin of Precision Products segment rose from 22.06% to 24.90%. Overall PBIT margin rose from 16.29% to 23.18%.

Nine Month performance

Net sales (including other operating income) of Wendt India has increased 15.45% to Rs 151.31 crore. Sales of Super Abrasives segment has gone up 13.32% to Rs 97.89 crore (accounting for 64.86% of total sales). Sales of Machines Accessories and components segment has gone up 37.05% to Rs 18.09 crore (accounting for 11.99% of total sales). Sales of Others segment fell 7.03% to Rs 12.82 crore (accounting for 8.49% of total sales). Sales of Precision Products segment has gone up 33.49% to Rs 22.12 crore (accounting for 14.66% of total sales).

Profit before interest, tax and other unallocable items (PBIT) has jumped 40.36% to Rs 33.77 crore. PBIT of Super Abrasives segment rose 38.74% to Rs 22.42 crore (accounting for 66.39% of total PBIT). PBIT of Machines Accessories and components segment rose 113.51% to Rs 3.16 crore (accounting for 9.36% of total PBIT). PBIT of Others segment fell 25.74% to Rs 2.02 crore (accounting for 5.98% of total PBIT). PBIT of Precision Products segment rose 66.76% to Rs 6.17 crore (accounting for 18.27% of total PBIT).

PBIT margin of Super Abrasives segment rose from 18.71% to 22.90%. PBIT margin of Machines Accessories and components segment rose from 11.21% to 17.47%. PBIT margin of Others segment fell from 19.72% to 15.76%. PBIT margin of Precision Products segment rose from 22.33% to 27.89%. Overall PBIT margin rose from 18.52% to 22.38%.

Operating profit margin has jumped from 23.10% to 25.93%, leading to 29.63% rise in operating profit to Rs 39.24 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 24.50% to 24.80%. Purchase of finished goods cost fell from 11.10% to 8.70%. Employee cost decreased from 18.97% to 17.95%. Other expenses fell from 22.45% to 22.40%.

Other income rose 11.26% to Rs 3.26 crore. PBIDT rose 28.01% to Rs 42.5 crore.

PBDT rose 28.03% to Rs 42.48 crore. Provision for depreciation fell 9.47% to Rs 5.93 crore.

Profit before tax grew 37.25% to Rs 36.55 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 9.25 crore, compared to Rs 7.03 crore. Effective tax rate was 25.31% compared to 26.40%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 39.29% to Rs 27.30 crore.

Interim Dividend

The Board at its meeting convened today has declared an interim dividend of 300% i.e. Rs. 30/- (Rupees Thirty only) per equity share (on a face value of Rs. 10/-) for the year ending 31 st March 2023. The Record Date for determining the members eligible to receive aforesaid interim dividend is 27th January 2023.

Others

Promoters’ stake was 75.00% as of 31 December 2022 ,compared to 75.00% as of 31 December 2021 .

Quarter ended

Year to Date

Year ended

Particulars

202212

202112

Var.(%)

202212

202112

Var.(%)

202203

202103

Var.(%)

Net Sales (including other operating income)

51.13

41.22

24.04

151.31

131.06

15.45

178.81

136.62

30.88

OPM (%)

26.66

21.54

511 bps

25.93

23.10

284 bps

23.30

16.10

720 bps

13.63

8.88

53.49

39.24

30.27

29.63

41.67

22.00

89.41

Other Inc.

1.78

1.01

76.24

3.26

2.93

11.26

3.87

3.96

-2.27

PBIDT

15.41

9.89

55.81

42.50

33.20

28.01

45.54

25.96

75.42

Interest

0.01

0.02

0.03

-33.33

PBDT

15.41

9.88

55.97

42.48

33.18

28.03

45.52

25.93

75.55

Depreciation

1.96

2.1

-6.67

5.93

6.55

-9.47

8.61

8.93

-3.58

PBT

13.45

7.78

72.88

36.55

26.63

37.25

36.91

117.12

Share of Profit/(Loss) from Associates

PBT before EO

13.45

7.78

72.88

36.55

26.63

37.25

36.91

117.12

EO Income

PBT after EO

13.45

7.78

72.88

36.55

26.63

37.25

36.91

117.12

Taxation

3.38

2.22

52.25

9.25

7.03

31.58

9.84

4.23

132.62

PAT

10.07

5.56

81.12

27.3

19.6

39.29

27.07

12.77

111.98

Minority Interest (MI)

Net profit

10.07

5.56

81.12

27.3

19.6

39.29

27.07

12.77

111.98

P/(L) from discontinued operations net of tax

Net profit after discontinued operations

10.07

5.56

81.12

27.3

19.6

39.29

27.07

12.77

111.98

EPS (Rs)*

50.35

27.80

81.12

136.50

98.00

39.29

135.35

63.85

111.98

* EPS is on current equity of Rs 2.00 crore, Face value of Rs 10, Excluding extraordinary items.

# EPS is not annualised

bps : Basis points

EO : Extraordinary items

Figures in Rs crore

Source: Capitaline Corporate Database

Quarter ended

Year to Date

Year ended

% of (Total)

202212

202112

Var.(%)

% of (Total)

202212

202112

Var.(%)

% of (Total)

202203

202103

Var.(%)

Sales

Super Abrasives

64.40

32.81

27.06

21.25

64.86

97.89

86.38

13.32

63.50

112.54

83.83

34.25

Machines Accessories and components

12.82

6.53

3.28

99.09

11.99

18.09

13.20

37.05

13.85

24.54

38.89

-36.90

Others

7.81

3.98

4.20

-5.24

8.49

12.82

13.79

-7.03

9.64

17.09

12.95

31.97

Precision Products

14.98

7.63

6.21

22.87

14.66

22.12

16.57

33.49

Total Reported Sales

100.00

50.95

40.75

25.03

100.00

150.92

129.94

16.15

100.00

177.24

135.67

30.64

Less: Inter segment revenues

0.00

Net Sales

100.00

50.95

40.75

25.03

100.00

150.92

129.94

16.15

100.00

177.24

135.67

30.64

PBIT

Super Abrasives

69.09

8.16

4.27

91.10

66.39

22.42

16.16

38.74

61.03

20.44

13.78

48.33

Machines Accessories and components

9.57

1.13

0.31

264.52

9.36

3.16

1.48

113.51

13.23

4.43

6.06

-26.90

Others

5.25

0.62

0.69

-10.14

5.98

2.02

2.72

-25.74

9.32

3.12

2.41

29.46

Precision Products

16.09

1.90

1.37

38.69

18.27

6.17

3.70

66.76

Total PBIT

100.00

11.81

6.64

77.86

100.00

33.77

24.06

40.36

100.00

33.49

22.25

50.52

Less : Interest

0.00

0.01

0.02

0.03

-33.33

Add: Other un-allcoable

1.64

1.15

42.61

2.80

2.59

8.11

3.44

-5.22

PBIT Margin(%)

Super Abrasives

24.87

15.78

909.07

22.90

18.71

419.52

18.16

16.44

172.44

Machines Accessories and components

17.30

9.45

785.35

17.47

11.21

625.61

18.05

15.58

246.97

Others

15.58

16.43

-85.07

15.76

19.72

-396.78

18.26

18.61

-35.37

Precision Products

24.90

22.06

284.05

27.89

22.33

556.38

23.84

0.00

2,384.05

PBT

100.00

13.45

7.78

72.88

100.00

36.55

26.63

37.25

100.00

36.91

17.00

117.12